Bell Financial Group Limited · ASX:BFG
Bell Financial — FY2022 Earnings Presentation
23 slides from Bell Financial's earnings presentation, Feb 16, 2023
Slide 1: Bell Financial Group 2022 Full Year Results
BELL FINANCIAL GROUP (ASX:BFG) 2022 FULL YEAR RESULTS Australian owned. We provide full service and online broking, capital markets and financial advisory services to private, institutional and corporate clients. We are a developer of proprietary technology, platforms, products and services for the
Slide 2: Contents
CONTENTS 1 2022 In Review 3 2 Group Financial Summary – FY 2022 5 3 Corporate Structure 9 4 Strategy 17 5 Bell Financial Group 20
Slide 3: 2022 In Review
2022 IN REVIEW BELL FINANCIAL GROUP
Slide 4: 2022 In Review
2022 IN REVIEW REVENUE PROFIT AFTER TAX FUNDS UNDER ADVICE $237.5m $25.7m $72.8b 18.7% decrease on 2021 41.8% decrease on 2021 4.1% decrease on 2021 EARNINGS PER SHARE DIVIDEND PER SHARE RETURN ON EQUITY 8.0¢ share 7.0¢ share 15.7% 42.0% decrease on 2021 57.1% decrease on 2021 40.4% decrease on 2021
Slide 5: Group Financial Summary FY 2022
GROUP FINANCIAL SUMMARY FY 2022
Slide 6: Group Financial Summary
GROUP FINANCIAL SUMMARY Revenue and Earnings for 2022 directly reflect prevailing market conditions. Revenue ($M) Earnings Per Share (Cents) Profit After Tax ($M) Dividend Paid ($M) and Gross Dividend Yield (%) 350 16 50 40.0 40.0% 14 45 14.6 46.7 35.0 35.0% 300 13.8 44.1 35.3 299.3 40 33.6 292.1 12
Slide 7: Group Financial Summary (cont.)
GROUP FINANCIAL SUMMARY (CONT.) We have a solid cash-backed balance sheet with no core operating debt EBITDA Margin BFG Share Price Movement 25.0% January 2017 - December 2022 200% $2.00 23.4% 22.6% 20.0% $1.75 150% 19.3% 17.3% $1.50 17.1% 15.0% 100% $1.25 50% 10.0% $1.00 0% $0.75 5.0% -50% $0.50 0.
Slide 8: Group Financial Summary (cont.)
GROUP FINANCIAL SUMMARY (CONT.) GROUP FUNDS UNDER ADVICE (FUA) AS AT 31 DECEMBER 2022 Funds Under Advice ($B) * CHESS Sponsored Holdings ($B) PAS ($B) 4.1% decrease on 2021 4.3% decrease on 2021 6.8% decrease on 2021 80 80.0 4.5 69.0 CAGR +12.2% 66.0 4.0 CAGR +6.3% (5-YR) 70 75.9 70.0 (5-YR) CAGR +1
Slide 9: Corporate Structure
CORPORATE STRUCTURE BELL FINANCIAL GROUP
Slide 10: Corporate Structure
CORPORATE STRUCTURE BROKING TECHNOLOGY & PLATFORMS PRODUCTS & SERVICES RETAIL & INSTITUTIONAL Six distinct business units operate within Third Party Platform: • Retail Equities • Bell Potter Portfolio Lending (Domestic & International) 1. Private Client online share trading platform • Bell Financial
Slide 11: Broking – Retail & Institutional
BROKING – RETAIL & INSTITUTIONAL • Brokerage from our Institutional and Retail desks & Commodities and FX was $103.3m for the year, down 10.9% on the p.c.p. • $57.0 million in ECM and Syndication fee income, down 45.4% on the p.c.p , a direct reflection of the domestic and global downturn in ECM tra
Slide 12: Equity Capital Markets and Syndication
EQUITY CAPITAL MARKETS AND SYNDICATION $6.5m Placement $5m NREO $10m Placement & SPP $4m Placement $6.5m Placement $296.2 Placement $7.4m IPO January 2022 January 2022 January 2022 February 2022 February 2022 February 2022 February 2022 Joint Lead Manager & Joint Lead Manager & Lead Manager & Bookru
Slide 13: Equity Capital Markets and Syndication
EQUITY CAPITAL MARKETS AND SYNDICATION $9.9m ANREO $100m Placement $7.5m Placement $11.2m ANREO $0.5m Placement $12.5m Block Trade $14.2m Block Trade May 2022 May 2022 June 2022 June 2022 June 2022 June 2022 June 2022 Joint Lead Manager & Joint Lead Manager & Joint Lead Manager & Lead Manager & Book
Slide 14: Equity Capital Markets and Syndication
EQUITY CAPITAL MARKETS AND SYNDICATION $22m IPO $25m IPO $5.2m Two Tranche Placement $10m ANREO $4.9m Two Tranche Placement $45m IPO $40m Placement & SPP September 2022 October 2022 October 2022 October 2022 October 2022 October 2022 October 2022 Joint Lead Manager & Joint Lead Manager & Joint Lead
Slide 15: Technology & Platforms
TECHNOLOGY & PLATFORMS Consistent growth in revenue, profit, sponsored holdings and client accounts over an extended period. • $30.4 million in Revenue. • $6.2 million Profit After Tax. • $31.5 billion in Sponsored Holdings. • 253,000 client accounts. Revenue ($M) Profit After Tax ($M) Sponsored Hol
Slide 16: Products & Services
PRODUCTS & SERVICES Consistent growth in revenue and profit over an extended period. • $41.9 million in Revenue. Revenue($M) Profit After Tax ($M) 45 41.9 12 • $11.1 million Profit After Tax. CAGR +7.6% 39.9 11.1 CAGR +8.1% (5-YR) 37.2 10.5 40 35.0 (5-YR) • $496 million loan book at 31 31.3 10 9.3 3
Slide 17: Strategy
STRATEGY BELL FINANCIAL GROUP
Slide 18: Growth Through Investment in Proprietary Technology, Platforms, Products & Services
GROWTH THROUGH INVESTMENT IN PROPRIETARY TECHNOLOGY, PLATFORMS, PRODUCTS & SERVICES • Our strategy has been consistent over many years. Growth through our various well established broking and capital markets desks, increasingly augmented by investment in leading edge proprietary technology and a ran
Slide 19: Investment in Growing Revenue Streams
INVESTMENT IN GROWING REVENUE STREAMS Investment in proprietary technology, platforms and our products and services and is key to the future for growth of the business. • Both our Technology & Platforms and our Products & Services businesses recorded record revenues and record profits of for the yea
Slide 20: Bell Financial Group
BELL FINANCIAL GROUP BELL FINANCIAL GROUP
Slide 21: Bell Financial Group
BELL FINANCIAL GROUP Bell Financial Group is a leading Australian financial services business. LONDON NEW YORK HONG KONG KUALA LUMPUR ▪ 11 offices across Australia plus offices in London, New York, Hong Kong and Kuala AUSTRALIA Lumpur 1970 2001 2003 2007 2008 2012 2018 2020 Bell Acquired Acquired Li
Slide 22: Bell Financial Group
BELL FINANCIAL GROUP • Professional board with deep industry understanding. • A deliberately flat management structure that is experienced, stable and has a substantial shareholding in the business. BELL FINANCIAL GROUP BOARD Alastair Provan Graham Cubbin Brian Wilson AO Christine Feldmanis Executiv
Slide 23: Important Disclaimer
Important Disclaimer The material contained in this presentation has been prepared by Bell Financial Group Limited ABN 59 083 194 763 (Bell Financial Group) and is general background information about the businesses, operations and activities of Bell Financial Group and its subsidiaries, current as