AMCIL Limited · ASX:AMH
AMCIL — Investor Presentation (October 2010)
19 slides from AMCIL's investor presentation, Oct 11, 2010
Slide 1: ASX cover letter: Shareholder Information Meetings
For personal use only 11 October 2010 The Manager Company Announcements Office Australian Securities Exchange Exchange Centre Level 4 20 Bridge Street Sydney NSW 2000 Electronic Lodgement AMCIL Limited Shareholder Information Meetings Dear Sir or Madam Please find attached the presentation being giv
Slide 2: AMCIL Shareholder Meetings October 2010
For personal use only AMCIL Shareholder Meetings October 2010
Slide 3: Disclaimer
Disclaimer For personal use only AMCIL Limited, their related entities and each of their respective directors, officers and agents (together the Disclosers) have prepared the information contained in these materials in good faith. However, no warranty (express or implied) is made as to the accuracy,
Slide 4: All Ordinaries Price Index – A Long Term View
All Ordinaries Price Index – A Long Term View For personal use only
Slide 5: Summary of Results
Summary of Results FY10 FY09 For personal use only Key factors: $m $m • Increased dividends and Income 6.3 5.4 distributions Operating Expenses (1.2) (1.2) • Revenue from deposits down Income Tax (0.2) (0.4) as funds invested Net Operating Profit 4.9 3.8 • Improved performance of Trading Portfolio N
Slide 6: Dividend Policy
Dividend Policy For personal use only FY10 FY09 cents cents Earning Per Share* 2.6 2.2 Dividends Per Share 2.0 2.0 Maximise the distribution of the franking account balance subject to the level of profit for the year It is not be normal practice to distribute realised capital gains unless franking c
Slide 7: Portfolio at June
Portfolio at 30 June For personal use only $Million 160 5.0 140 16.6 120 18.0 100 22.0 0.0 80 124.6 131.5 60 8.5 103.3 40 84.4 71.5 20 43.8 0 2005 2006 2007 2008 2009 2010 Portfolio Value Cash New Capital of $39.1 million raised in 2007 as a result of the exercise of outstanding options
Slide 8: The Market Over the Year – All Ordinaries
For personal use only Value Ju l -0 3600 3800 4000 4200 4400 4600 4800 5000 9 5200 A ug -0 9 Se p- 09 O ct -0 Price Index 9 N ov -0 9 D ec -0 9 Ja n- 10 Fe b- 10 M ar -1 0 A pr 2009/10 financial year -1 0 M ay -1 0 Ju n- 10 Ju l -1 0 A ug -1 0 Se p- 10 The Market Over the Year – All Ordinaries
Slide 9: Investment Themes for the Year
Investment Themes for the Year For personal use only Participated in selected capital raisings which restored balance sheet strength Invested in companies with sound business models and strong annuity income yields Restarted use of the Trading Portfolio albeit still at relatively small levels Utilis
Slide 10: Largest Acquisitions - (Last Financial Year)
Largest 5 Acquisitions - (Last Financial Year) For personal use only $m Hastings Diversified Utilities Fund* 5.4 Transurban* 5.3 Australian Infrastructure Fund* 3.3 Perpetual* 2.2 Trust Company* 1.6 * New stocks to the investment portfolio
Slide 11: Largest Disposals - (Last Financial Year)
Largest Disposals - (Last Financial Year) For personal use only $m Oakton 2.0 Diversified United Investment (DUI) 1.5
Slide 12: AMCIL’s Investment Structure – Sept. 2010
AMCIL’s Investment Structure – 30 Sept. 2010 For personal use only Investment portfolio: A$139.1 million 42 companies Trading portfolio of $5.0 million Cash of $0.4 million (SPP raised $9.9 million in December 2009)
Slide 13: Major Purchases Since July 2010
Major Purchases Since 1 July 2010 For personal use only ANZ Bank Eastern Star Gas (placement)
Slide 14: AMCIL Top Holdings – September 2010
AMCIL Top 20 Holdings – 30 September 2010 For personal use only $ ’000 * 1 Commonwealth Bank of Australia 9,010 2 Westpac Banking Corporation 8,530 3 Hastings Diversified Utilities Fund 7,999 4 BHP Billiton 7,782 5 National Australia Bank 6,552 * 6 Transurban Group 6,355 7 Bradken 5,985 * 8 Australi
Slide 15: AMCIL Top Holdings – September 2010 con’t.
AMCIL Top 20 Holdings – 30 September 2010 con’t. $ ’000 For personal use only 11 Telstra Corporation 4,460 12 Mitchell Communication Group 4,455 13 ASG Group 4,231 14 Coca-Cola Amatil 4,193 15 REA Group 4,012 16 Peet 3,834 17 Australian Infrastructure Fund 3,820 18 Oil Search 3,745 19 Amcor 3,686 20
Slide 16: Total Portfolio Return – % Per Year to Sept. 2010
Total Portfolio Return* – % Per Year to 30 Sept. 2010 For personal use only 16% 13.7% 14% 12.1% 12% 9.7% 10% 8% 5.3% 6% 4.2% 4% 2% 0.6% 0% 1 year return 5 year return return since recapitalisation in January 2004 AMCIL return on capital* S&P/ASX 200 Accumulation Index *measured by return on capital
Slide 17: Share Price Relative to Net Asset Backing
For personal use only -15% -10% -5% 0% 5% 10% Se 15% p- 06 Ja n- 07 Ma y- 07 Se p- 07 Ja n- 08 Ma y- 08 Se p- 08 Ja n- 09 Ma y- 09 Se p- 09 Ja n- 10 Discount Premium Ma y- 10 Share Price Relative to Net Asset Backing Se p- 10
Slide 18: Outlook
Outlook For personal use only AMCIL is close to fully invested following share purchase plan in December High government debt levels globally and the impact of required adjustments are likely to create ongoing uncertainty in markets Emerging economies including China remain central to global growth
Slide 19: AMCIL Shareholder Meetings
For personal use only AMCIL Shareholder Meetings October 2010