Washington H. Soul Pattinson And Company Limited · ASX:SOL
Washington H. Soul Pattinson And — FY2005 Earnings Presentation
31 slides from Washington H. Soul Pattinson And's earnings presentation, Sep 29, 2005
Slide 1: Review of Operations for Year Ended 31st July 2005
Slide 2: 2005 Results Highlights
Washington H Soul Pattinson & Company Limited 2005 Results Highlights Operating Profit after Tax up by 29% to $105.1M due to increas in profit from coal operations assisted by gains from investments and merchant banking; Final dividend increased by 25% to 15 cents per share; Two fully franked specia
Slide 3: Group Performance - Consolidated Profit Results
Group Performance - Consolidated Profit Results Operating Profit After Tax and Outside Equity (8M) 450- 421.5 400- 3505 300, 250, 200 - 150- 100 > 50+ 2001 2002 2003 2004 2005 © Before non-regular items @ After non-regular items
Slide 4: Group Performance - Earnings per Share
Group Performance - Earnings per Share Earnings per Share 180- 160- 65.3 2001 2002 2003 2004 2005 { Before non-regular items @ After non-regular items
Slide 5: Dividends per Share
ON WH SOUL tON > Dividends per Share 255 20; 15> Z Cents xcluding Special Div Total Dividends for 2005 uy 25% on last year < <= = = = SS SS < 2002 2003 2004 2005
Slide 6: Investments - Share Portfolio
Investments - Share Portfolio . Portfolio Return (including unrealised gains) 14.4% . Dividend Income from investments up 37% to $16.4 . Market Value of listed investment portfolio up 15.8% to $2.2 Billion at 31/07/05.
Slide 7: Investments - Share Portfolio
Investments - Sha . Investments during the year totalled $65IVi; - $55M in options exercise, and increased investments in existing controlled entities and associates; 7 Disposals of $15!Vi included; - WMC Resources Ltd
Slide 8: Investments - Associated Entities: API
Investments - Associated Entities ) API (Australian Pharmaceutical Industries Limited) Highlights . Shareholding @ 31/07/05, 21.5%; priceline s Net profit of $29.7, up 61.2% ~ priceline pharmacy 7 Profit contribution to WHSP $6.4 ($4.2M last year); 7 Manufacturing facilities now consolidated in New
Slide 9: Investments - Associated Entities: Brickworks Limited
Investments - Associated Entities Brickworks Limited | BRICKWORKS iiaki ted: lighlights Brickworks change of annual reporting date to 31st July in accordance with IFRS - 2005 year will report 13 eurekatiles months; AUSTRALIA Net profit After Tax before Non Regular Items $93.9, up 27% (13 months) Net
Slide 10: Investments - Associated Entities: Brickworks Limited
Investments - Associated Entities Brickwerks Limited Free Cash Flow of $187.4M, double last year; eurekatiles Property Development contributed $82.1 1Vi (last year $20.7M) Debt reduced by $71.3 to $204 “australbricks
Slide 11: Investments - Associated Entities: Brickworks Limited
Investments - Associated Entities Brickworks Limited BRICKWORKS eurekatiles® AUSTRALIA 7 Building Products sales $481.8IvVi, down 1.4% (sales for 13 months, $521.1 !Vi) " Building Products EBITA for 12 months $82.2, down 13.2% (EBITA for 13 months $86.11V/) a “australbricks . Dwelling Approvals peak
Slide 12: Investments - Associated Entities: Brickworks Limited
Investments - Associated Entities Brickworks Limited gpipwworxs lighlights Capital Works program continued strongly during the period; GM eurekaties Total Cap Ex $54.6li (for 13 months) - last year $40.41Vi Total Depreciation for 13 months $29.0M; Property Realisation Program EBIT $26.2!¥i (13 month
Slide 13: Investments - Associated Entities: Clover Corporation Limited
Investments - Associated Entities Clover Corporation Limited Highlights CLEVER 7 WHSP share 28.6%; 7 Profit of $764,000 down 38% on last year; " Nu-Soya plant in Moree delayed and not commissioned until July; 7 World demand for Omega3 is currently at its highest levels, and Company is well positione
Slide 14: SP Telemedia Limited (SPT)
Controlled Entities - SP Telemedia Limited (SPT) SPI Listed on the ASX as "SOT", WHSP owned 51% of SPT at 31st Jul * oneBO’ A number of strategic investments made during the year, increasing earnings growth potential. Net Profit After Tax $16.5; up 71% on previous year;
Slide 15: Controlled Entities - SP Telemedia Limited
Controlled Entities SPI SP Telemedia Limited | Strategic Investments 33sN . NBN Group contributed Net Profit After Tax of TELEVISION $8M_on revenue growth of 6.5%. ‘8 The business and assets of Comindico purchased on Ist December 2004. . 50% subsequently sold to B Digital under Strategic Alliance on
Slide 16: SP Telemedia Limited (SPT)
Controlled Entities - SP 1 SP Telemedia Limited (SPT) Dividend 7 Final Dividend 1.2 cents/ share 7 Total Dividend for Year 2.2 cents/share 7 Total Payout double last year in dollar terms
Slide 17: Pitt Capital Partners Limited
Controlled Entities - Pitt Capital Partners Limited (Merchant Banking) Highlights Group shareholding 53%; Net Profit after Tax of $8.6IMi up 406% on previous year; Revenue $19.1 /Vi Six major placements and underwritings raised $400; Six mandated corporate finance projects totalling $1.2; Adelaide o
Slide 18: Souls Funds Management Limited
Controlled Entities - Souls Funds Management Limited (Funds Management) Highlights 7 Group shareholding 63.3%; . Net Profit after Tax of $773,000 up on last years $292,000; 7 Funds under management have grown from $20.3! in September 2003 to $243IVi last year to $543IMi this year; . Further growth a
Slide 19: New Hope Corporation Limited
Slide 20: New Hope Corporation Limited Group (NHC)
oe Controlled Entities - oe "New Hope Corporation Limited Group (NHC) Highlights " Listed on the ASX with WHSP shareholding of 64.2% 7 Group Profit After Tax and Outside Equity Interest $463.3M; . Profit increase due to Higher coal prices in US dollar terms - Offset by strengthening Australian dolla
Slide 21: New Hope Corporation Limited Group (NHC)
New Hope Controlled Entities - New Hope Corporation Limited Group (NHC) 7 Profit from sale of overseas operations $366.6; 7 Excluding non -regular items, Profit after Tax and outside equity interest $96.7IV/, up 136% on last year " 50% of Profit from sale of overseas operations will be paid as a spe
Slide 22: New Hope Corporation Limited Group (NHC)
ae Controlled Entities - New Hope Corporation Limited Group (NHC) 7 Final dividend declared of 3 cents per share, making total dividends for the year of 5.75 cents per share, up 140% on last year. a EPS (Group) 13.1 cents, last year 5.8 cents. " EPS (Australian Operations) 7.4 cents, last year 3.1 c
Slide 23: New Hope Corporation Limited Group (NHC) - Australian Operations
anes Controlled Entities - orporation Limited New Hope Corporation Limited Group (NHC) Highlights Australian Operations 7 After Tax Profit $54.6 up 149% on previous year; 7 New Acland production up 24% to 2.6IM tonnes. " Bulk Handling operations in line with last year.
Slide 24: Strategic Review following Sale of Overseas Operations
y N fbb tad std Controlled Entities - New Hope Corporation Limite Group (NHC) Highlights Strategic Review following Sale of Overseas Operations « Forward focus on upgrade of resource base, and potential new mine development. = Current coal production levels to be maintained next year with expansion
Slide 25: Strategic Review following Sale of Overseas Operations
4, z — eo New Hope Controlled Entities - orporation Limited New Hope Corporation Limited Group (NHC) Highlights Strategic Review following Sale of Overseas Operations Evaluation of opportunities in; - Energy Business - Port Infrastructure - Development of land holdings in SE Queenslanc
Slide 26: Made Daily in Geelong!
<x, AU es PIES.«CAKES eg Made Daily in Geelong!
Slide 27: KH Foods Limited (KHF)
Controlled Entities - KH Foods Limited (KHF) ASX listed (ASX Code KHF) which the Group has a 52.2% shareholding. Net Loss After Tax and Non-Regular Items of $17.3 Included one-off items - Write Down of Goodwill $8.0 - Write Down of Plant and Equipment $1.6/i - Write Down of Tax Assets $0.5M - Restru
Slide 28: KH Foods Strategy Scoreboard
Controlied Entities - Kin Koods Limited (MIF) © Strategy Scoreboard What’s Worked and What Hasn’t- Overall - 7 Attempting a turnaround in a public company structure created too short term a focus 7 Productivity improvements were hindered by the delays to equipment arrivals and timeline overruns 7 Hi
Slide 29: KH Foods Strategy Scoreboard
Controlled Entities - KH Foods Limited (RHF) Strategy Scoreboard Sweet & Savoury Pies — Plant delays meant first opportunity for category review missed Targeted growth therefore missed Higher cost base for longer — couldn’t reduce overheads in timeframe stated Plant finally finished in entirety to S
Slide 30: KH Foods Strategy Scoreboard
Controtied Entities - Kin Foods Limited (AhF) _ Strategy Scoreboard eo 2005 has not produced the results as expected It has meant that higher costs and delays have resulted in higher losses for longer The turnaround has been delayed around 12 months Cash has been needed and non-core assets sold. Gro
Slide 31: KH Foods Strategy Scoreboard
CORPOMCE RATETES = NEE POOES MM ited UNE Strategy Scoreboard i With all plants now completed to stage 1 and stage 2 the business is commencing to experience the benefits of a lower cost base Further cost reduction planned for November 2005 August sales [4% above budget Growth in Cake Category has be
Washington H. Soul Pattinson and Company — FY2005 Earnings Presentation on 6ix