Slide 1: 1Q2017 Results Presentation
1Q2017 Results Presentation 28 April 2017 PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 2: Disclaimer
Disclaimer This presentation should be read as an overview of iFAST Corporation Ltd.’s ("iFAST Corp" or together with its subsidiaries, the “Group”) current business activities and operating environment. This presentation should not be solely relied upon by current and potential investors when makin
Slide 3: Table of Content
Table of Content Section Title I Financial Results 1Q2017 (Jan-Mar 2017) results Financial ratios Financial position Interim dividend II Performance Trends Assets under Administration (AUA) Net sales and subscription excluding switching Recurring net revenue, non-recurring net revenue
Slide 4: Key Summary
Key Summary • Following a difficult 2016, 1Q2017 started off on an encouraging note. The Group’s Assets Under Administration (AUA) increased 17.2% YoY to hit a record high of S$6.46 billion as at 31 March 2017 • The core markets in the Group all hit record high AUA levels: Singapore’s AUA (+13.8% Yo
Slide 5: Group AUA grew 17.2% YoY to record S$6.46 billion
Group AUA grew 17.2% YoY to record S$6.46 billion S$ million AUA (as at 31 Mar 2017): S$6.46 billion¹ $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $- Sep-06 Sep-15 Sep-01 Sep-02 Sep-03 Sep-04 Sep-05 Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-16 Mar-01 Mar-03 Mar-04 Mar-05 Mar-06
Slide 6: Key Summary
Key Summary • In the last two years, we have been busy broadening the range of our products and services as an investment platform as we believe that we need to position ourselves well for the potential growth opportunities and changes in the wealth management industry in Asia • We believe that the
Slide 7: Key Summary
Key Summary • The Group’s Dividend Guidance for FY2017 (similar to FY2016) is: “For FY2017, our Directors intend to recommend and distribute dividends of 60% or more of our Group’s net profit (excluding our China operation, and exceptional items)” • The Directors have proposed an interim dividend of
Slide 8: Section I: Financial Results
Section I: Financial Results PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 9: Presentation of Group's Results
Presentation of Group’s Results Presentation of Group’s results (including and excluding China) • In view of the guidance we have provided on our China operation (that the China business would be expected to have a negative impact on the Group’s overall operating profit on a consolidated basis in 20
Slide 10: Financial Results for Group (excluding China operation) (1Q2017 vs 1Q2016)
Financial Results for Group (excluding China operation) (1Q2017 vs 1Q2016) S$ (Million) 1Q2016 1Q2017 YoY change (%) Revenue 18.67 21.96 +17.6 Net revenue 9.35 11.12 +18.9 Other income 0.81 0.44 -45.6 Expenses 8.09 8.38 +3.5 Net finance income 0.25 0.20 -20.5 Share of results of associates, net of t
Slide 11: Financial Results for Group (including China operation) (1Q2017 vs 1Q2016)
Financial Results for Group (including China operation) (1Q2017 vs 1Q2016) S$ (Million) 1Q2016 1Q2017 YoY change (%) Revenue 18.67 22.10 +18.3 Net revenue 9.35 11.17 +19.4 Other income 0.81 0.44 -45.6 Expenses 8.98 9.44 +5.1 Net finance income 0.25 0.20 -18.5 Share of results of associates, net of t
Slide 12: Results Overview for Group (excluding China operation)
Results Overview for Group (excluding China operation) S$ (Million) FY2013¹ FY2014² FY2015 FY2016 1Q2017 Revenue 69.47 78.35 85.34 79.89 21.96 Net revenue 31.58 36.68 41.53 40.46 11.12 Other income 0.16 0.24 1.53 1.88 0.44 Impairment loss on investment - - - 0.68 - in financial assets Operating expe
Slide 13: Results Overview for Group (including China operation)
Results Overview for Group (including China operation) S$ (Million) FY2013¹ FY2014² FY2015 FY2016 1Q2017 Revenue 69.47 78.35 85.34 80.60 22.10 Net revenue 31.58 36.68 41.53 40.69 11.17 Other income 0.16 0.24 1.53 1.88 0.44 Impairment loss on investment - - - 0.68 - in financial assets Operating expe
Slide 14: PBT margin for Group (based on net revenue)
PBT margin for Group (based on net revenue) (excluding China operation) (including China operation) 35% 33.1% 35% 31.1% 30.7% 29.1% 29.6% 30% 30% 25.9% 26.0% 25.9% 25% 25% 20.1% 20% 20% 16.7% 15% 15% 10% 10% 5% 5% 0% 0% 2013 2014 2015 2016 1Q2017 2013 2014 2015 2016 1Q2017 Notes: 1. PBT margins (201
Slide 15: Financial Ratios
Financial Ratios S$ (Million) FY2013 FY2014 FY2015 FY2016 1Q2017 Operating 7.13 10.18 14.18 5.63 2.81 Cashflows Capital 1.57 2.34 5.45 6.61 0.89 Expenditure 31 Dec 31 Dec 31 Dec 31 Dec 31 Mar S$ (Million) 2013 2014 2015 2016 2017 Net Current 20.70 63.16 68.32 64.39 66.28 Assets 31 Dec 31 Dec 31 Dec
Slide 16: Cash position
Cash position As at 31 Dec 2016 As at 31 Mar 2017 (S$ million) (S$ million) Cash and cash equivalents 22.46 26.48 Other investments¹ 32.13 28.83 Total cash and other investments 54.59 55.31 Note: 1. Other investments comprise investments in available-for-sale financial assets and held-for-trading fi
Slide 17: Number of issued shares
Number of issued shares As at 31 Dec 2016 As at 31 Mar 2017 Total number of issued shares 262,223,415 262,475,515 17 PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 18: Our Consolidated Financial Position as at 31 Mar 2017
Our Consolidated Financial Position as at 31 Mar 2017 S$’000 NON-CURRENT ASSETS Fixed Assets 2,089 Intangible Assets 10,731 Associates 1,701 Others 211 14,732 CURRENT ASSETS Trade & other receivables 24,602 Prepayments & others 1,609 Other Investments 28,834 Cash & cash equivalents 26,480 81,525 TOT
Slide 19: Our Consolidated Financial Position as at Mar 2017 – cont'd
Our Consolidated Financial Position as at 31 Mar 2017 – cont’d S$’000 CURRENT LIABILITIES Trade & other payables 14,438 Finance Lease 5 Current tax payable 803 15,246 NON-CURRENT LIABILITIES Deferred Tax 457 Finance Lease 17 474 EQUITY Share Capital 64,185 Accumulated profits 17,861 Other reserves (
Slide 20: First Interim Dividend for FY2017
First Interim Dividend for FY2017 First Interim Dividend for FY2017 - Schedule Dividend per share 0.68 cents per ordinary share Ex-dividend date 8 May 2017 Record date and time 11 May 2017 (5.00 pm) Payment date 23 May 2017 • The Group’s Dividend Guidance for FY2017 is: “For FY2017, our Directors in
Slide 21: Section II: Performance Trends
Section II: Performance Trends PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 22: Group AUA Trends
Group AUA Trends Singapore & Others: 71.9% Hong Kong: 21.7% Malaysia: 6.4% • The Group’s AUA as at 31 Mar 2017 includes the AUA contribution from India Business, as well as the AUA contribution from the China Business • The AUA contribution from the India Business and China Business is included in t
Slide 23: Net sales & Subscription ex-switching
Net sales & Subscription ex-switching S$ million S$ million Net Sales Subscription ex-switching $600 $1,800 $1,670 $1,547 $1,574 $501 $1,600 $500 $458 $1,365 $1,400 $396 $400 $1,200 $1,000 $300 $235 $800 $200 $173 $600 $547 $400 $299 $100 $41 $200 $- $- 2013 2014 2015 2016 1Q16 1Q17 2013 2014 2015 2
Slide 24: Net revenue breakdown between recurring and non-recurring sources
Net revenue breakdown between recurring and non-recurring sources Average contribution from recurring net revenue as opposed to non-recurring net revenue in the S$ million period from 2012 to 1Q2017 was 83.2% 45 40 6.9 6.0 35 7.2 30 6.0 25 4.0 4.8 20 18.1 12.3 4.6 34.6 34.7 15 4.0 29.5 25.6 22.3 10
Slide 25: Net revenue as a ratio of average AUA
Net revenue as a ratio of average AUA 0.800% 0.700% 0.144% 0.122% 0.105% 0.113% 0.134% 0.600% 0.500% 0.400% 0.300% 0.591% 0.615% 0.609% 0.605% 0.574% 0.200% 0.100% 0.000% 2013 2014 2015 2016 1Q2017 Recurring net revenue / AUA Non-recurring net revenue / AUA 25 PRIVATE & CONFIDENTIAL. NOT FOR EXTERNA
Slide 26: Net revenue and operating expenses as a ratio of average AUA (excluding China)
Net revenue and operating expenses as a ratio of average AUA for Group (excluding China operation) 0.800% 0.735% 0.738% 0.707% 0.711% 0.717% 0.700% 0.615% 0.607% 0.604% 0.591% 0.600% 0.574% 0.570% 0.528% 0.534% 0.541% 0.513% 0.500% 0.400% 0.300% 0.200% 0.100% 0.000% 2013 2014 2015 2016 1Q2017 Net re
Slide 27: Net revenue and operating expenses as a ratio of average AUA (including China)
Net revenue and operating expenses as a ratio of average AUA for Group (including China operation) 0.800% 0.735% 0.738% 0.707% 0.714% 0.718% 0.700% 0.640% 0.615% 0.609% 0.605% 0.607% 0.591% 0.600% 0.574% 0.552% 0.528% 0.524% 0.500% 0.400% 0.300% 0.200% 0.100% 0.000% 2013 2014 2015 2016 1Q2017 Net re
Slide 28: Recurring and Non-Recurring Net Revenue
Recurring and Non-Recurring Net Revenue S$ (Million) FY2013 FY2014 FY2015 FY2016 1Q2017 Recurring net revenue 25.62 29.48 34.64 34.71 9.41 Non-recurring net revenue 5.96 7.20 6.89 5.98 1.76 Total net revenue 31.58 36.68 41.53 40.69 11.17 YoY Change (%) FY2013 FY2014 FY2015 FY2016 1Q2017 Recurring ne
Slide 29: Net Revenue – Geographical Segment
Net Revenue – Geographical Segment S$ (Million) FY2013 FY2014 FY2015 FY2016 1Q2017 Singapore 24.10 25.72 30.04 29.54 8.03 Hong Kong 6.50 9.48 9.55 8.66 2.39 Malaysia 0.98 1.48 1.94 2.26 0.70 China - - - 0.23 0.05 Group 31.58 36.68 41.53 40.69 11.17 YoY Change (%) FY2013 FY2014 FY2015 FY2016 1Q2017 S
Slide 30: Net Revenue – B2B Business Segment
Net Revenue – B2B Business Segment B2B Net Revenue FY2013 FY2014 FY2015 FY2016 1Q2017 (S$ Million) Recurring net revenue 18.16 21.09 24.50 24.49 6.67 Non-recurring net revenue 3.06 4.46 4.09 3.86 1.04 Total B2B net revenue 21.22 25.55 28.59 28.35 7.71 YoY Change (%) FY2013 FY2014 FY2015 FY2016 1Q201
Slide 31: Net Revenue – B2C Business Segment
Net Revenue – B2C Business Segment B2C Net Revenue FY2013 FY2014 FY2015 FY2016 1Q2017 (S$ Million) Recurring net revenue 7.46 8.39 10.15 10.22 2.74 Non-recurring net revenue 2.90 2.74 2.79 2.12 0.72 Total B2C net revenue 10.36 11.13 12.94 12.34 3.46 YoY Change (%) FY2013 FY2014 FY2015 FY2016 1Q2017
Slide 32: Profit/Loss – Geographical Segment
Profit/Loss – Geographical Segment Profit/Loss After Tax (S$ Million) FY2013 FY2014 FY2015 FY2016 1Q2017 Singapore 7.81¹ 9.00² 11.21 9.05⁴ 2.71 Hong Kong 0.40 2.10 1.65 0.53 0.12 Malaysia (0.59) (0.09) 0.24 0.32 0.24 Others³ - (0.01) (0.02) (0.16) (0.13) Net profit (excluding China operation) 7.62 1
Slide 33: 1Q2017 Results & Outlook - Singapore
1Q2017 Results & Outlook - Singapore • AUA grew 13.8% YoY (+5.0% QoQ) to a record high of S$4.56 billion as at 31 March 2017, while net revenue grew 18.8% YoY to S$8.03 million and net profit after tax grew 36.8% YoY to S$2.71 million in 1Q2017, due to improved market sentiment and increased sales f
Slide 34: 1Q2017 Results & Outlook – Hong Kong
1Q2017 Results & Outlook – Hong Kong • Hong Kong’s AUA grew 17.3% YoY (+6.6% QoQ) to hit a record high of S$1.40 billion as at 31 March 2017 • Net revenue increased 14.7% YoY to S$2.39 million and net profit after tax improved 181.4% to S$0.12 million in 1Q2017 • Improved market sentiment especially
Slide 35: 1Q2017 Results & Outlook – Malaysia
1Q2017 Results & Outlook – Malaysia • Malaysia’s AUA grew 33.5% YoY (+12.6% QoQ) to hit a record high of S$413.31 million as at 31 March 2017 • Net revenue grew 36.7% YoY to $0.70 million and net profit after tax grew by 273.8% YoY to S$0.24 million in 1Q2017 • The positive momentum in the Malaysia
Slide 36: 1Q2017 Results & Outlook – China
1Q2017 Results & Outlook – China • The China business was soft launched in March 2016 and remains in the early stages of building the iFAST brand among potential clients and investment practitioners in China’s wealth management industry • The loss from the China operation increased 11.8% YoY to S$0.
Slide 37: Section III: Appendices
Section III: Appendices PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 38: Business Overview
Business Overview • We are an Internet-based investment products distribution platform with assets under administration (AUA) of S$6.46 billion as at 31 March 2017 (stock code: AIY) • Two main business divisions: – Business-to-Consumer (B2C) platform, Fundsupermart (including its new FSMOne multi- p
Slide 39: 2000 – 2016 Milestones
2000 – 2016 Milestones 2000 2008 2014 2015 Launch of • Launch of iFAST Platform • Incorporation of iFAST Platform • Distribution of bonds and ETFs in Fundsupermart.com Services (B2B) in Hong Kong Services (Shenzhen) Qianhai in Singapore (B2C) in Singapore • Launch of China • Launch of FSM Managed Po
Slide 40: Business Model
Business Model PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C 40
Slide 41: Our Value Proposition
Our Value Proposition B2B FA Companies, Financial Institutions and Banks: • One platform, multiple investment products • Adoption of recurring revenue business model based on Assets Under Administration (“AUA”) Product Providers • Platform performs efficient collection of fees • IT solutions and bac
Slide 42: Fees Illustration
Fees Illustration 42 PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 43: Thank you.
Thank you. For more information, please visit www.ifastcorp.com PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C