Navigator Global Investments Ltd · ASX:NGI
Navigator Global Investments — FY2021 Earnings Presentation
29 slides from Navigator Global Investments's earnings presentation, Aug 19, 2021
Slide 1: 2021 Annual Results Presentation
2021 Annual Results Presentation 19 August 2021 Authorised by: Board of Navigator Global Investments Limited
Slide 2: Agenda
Agenda Introduction Business Update Financial Results
Slide 3: Introduction
Introduction Sean McGould, CEO
Slide 4: A Differentiated Global Holding Company
A Differentiated Global Holding Company Focused on a sector of the asset management industry with sustainable long term growth trends and high barriers to entry Navigator Global Investments Limited (ASX: NGI) is a diversified asset management holding company dedicated to partnering with leading mana
Slide 5: Highlights
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Highlights $31.6 m Adjusted EBITDA Above top end of the EBITDA range provided in February 2021 6 cps Final Dividend 80% payout ratio of Adjusted EBITDA for the full financial year $20.9 bn Group AUM
Slide 6: Business update
Business update Lighthouse Investment Partners NGI Strategic Holdings Ben Browning, Lighthouse Executive MD Ross Zachary, MD of Strategic Corporate Development Scott Perkins, Lighthouse Executive MD 6
Slide 7: Lighthouse Investment Partners
Lighthouse Investment Partners Diversified product mix and continued Innovation will support long term growth Hedge Managed Account Account HedgeFund Hedge Hedge Funds Managed $7.1 billion AUM $1.7 billion AUM $5.1 billion AUM Fund Solutions Funds Solutions Services Services Strategic Partnerships &
Slide 8: Lighthouse Investment Partners - continued
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Lighthouse Investment Partners - continued Composition of AUM as at 30 June 2021: 14.2 13.9 11.8 11.3 Lighthouse 13.9 billion 9.5 AUM ▲ 18% from 30 June 2020 June 2017 June 2018 June 2019 June 2020 J
Slide 9: NGI Strategic Portfolio
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. NGI Strategic Portfolio High quality portfolio continues to present diversification benefits Portfolio Assets Under Management1 Highlights USD billions 30 June financial year end Portfolio AUM is a
Slide 10: NGI Strategic Portfolio - continued
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. NGI Strategic Portfolio - continued Near term steady and structured earnings stream with accretive transaction settlement following FY2025 Overview and illustrative near/medium term impact of the NGI
Slide 11: Target Profile and Pipeline
Target Profile and Pipeline Broad active pipeline across private equity, private credit, real estate lending and other specialised alternative investment strategies Navigator seeks opportunities with the potential for long term growth and sustained profitability driven by, scaling existing products,
Slide 12: We operate and invest in a growing sector
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. We operate and invest in a growing sector A secular shift to Alternatives presents a target rich but competitive long term opportunity environment The current market continues to be characterized by
Slide 13: Financial results
Financial results Amber Stoney, CFO 13
Slide 14: Navigator Group Results - Annual result
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Navigator Group Results Annual result FY21 Adjusted EBITDA of $31.6m Excluded from Statutory Adjusted Adjusted USD millions USD millions USD millions Management fees 75.6 75.6 - Performance fees 13.5
Slide 15: Revenue: management and performance fees
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Revenue 75.6 million ▼ 14% on pcp Management Fees Average AUM was $12.9 billion (2020: $13.1 bn or ▼ 1.3% 0.68% 0.66% down on pcp) management fee 105.4 0.58% 87.5 A reduction in average fee rate to
Slide 16: Revenue: NGI Strategic Distribution Income
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Revenue 3.7 million NGI Strategic No pcp Distribution Income $28.9m of distributions for FY21 profit share Profit share Accounting treatment Acquired assets in Distributions received prior to 1 Febru
Slide 17: NGI Strategic Portfolio: Purchase Price Accounting
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. NGI Strategic Portfolio Purchase Price Accounting Fair value changes as at 30 June 2021 1 February 2021 Purchase Price Assets Acquired Fair value as at Fair value as at 1 February 2021 30 June 2021 $
Slide 18: Net operating expenses
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Net operating expenses 63.4 million ▼1% on pcp Total FY2021 FY2020 Change to pcp expenses USD millions USD millions Employee expenses 47.9 44.2 ▲ 8% Professional & consulting 5.0 6.3 ▼ 21% Informatio
Slide 19: Balance sheet
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Balance sheet Cash Trade & other receivables Net Tangible Assets cents per share: Current assets US$52.1 million US$21.0 million Key sources and uses of cash for the period: Predominantly comprises
Slide 20: Dividends
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Dividends USD Dividend cents per share Dividend Pay-out ratio Final dividend of 6.0 cps to be paid in September 2021 Full year dividend payout ratio is 80% of Adjusted EBITDA Interim dividend o
Slide 21: FY22 Adjusted EBITDA Guidance
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. FY22 Adjusted EBITDA Guidance Guidance $40 - $42 million Includes NGI Strategic distributions of $20 - 22 million The above guidance represents Navigator’s expectations for Adjusted EBITDA for FY2022
Slide 22: Conclusion
Conclusion Sean McGould, CEO 22
Slide 23: Positioned for growth
Positioned for growth The NGI Group is more diversified than ever before Today’s NGI is powered by high quality earnings diversified across product, client type, geography and positioned with the financial resources and capabilities to drive strong long-term growth NGI’s earnings profile is now high
Slide 24: Q&A
Q&A 24
Slide 25: Disclaimer
The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Disclaimer This presentation has been prepared by Navigator Global Investments Limited (NGI) and provides information regarding NGI and its activities current as at 19 August 2021. It is in summary f
Slide 26: Appendices
Appendices 26
Slide 27: Summary of FY21 annual result – Statutory EBITDA
Summary of FY21 annual result – Statutory EBITDA 30 June 21 30 June 2020 Increase/ Decrease USD millions USD millions Management fee income 75.571 87.511 ▼ 14% Performance fee income 13.532 5.576 ▲ 143% Reimbursement of fund operating expenses 17.027 7.068 ▲ 141% Revenue from provision of office spa
Slide 28: Summary of FY21 annual result – Adjusted EBITDA
Summary of FY21 annual result – Adjusted EBITDA 30 June 21 30 June 2020 Increase/ Decrease USD millions USD millions Management fee income 75.571 87.511 ▼ 14% Performance fee income 13.532 5.576 ▲ 143% NGI Strategic distribution income 3.661 - ▲ 100% Total revenue 92.764 93.087 - Total operating exp
Slide 29: Reconciliation of total expenses to statutory financial statements
Reconciliation of total expenses to statutory financial statements 30 June 2021 30 June 2020 Increase/ Operating expenses USD millions USD millions Decrease Employee expense 47.916 44.216 ▲ 8% Professional and consulting expenses 5.036 6.345 ▼ 21% Information technology expense 3.372 3.540 ▼ 5% Occu
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