BKI Investment Co. Ltd. · ASX:BKI

BKI Investment — H1 2013 Earnings Presentation

19 slides from BKI Investment's earnings presentation, Jan 30, 2013

  1. Slide 1: Half Year Presentation January - February 2013

    For personal use only Half Year Presentation January - February 2013 1

  2. Slide 2: Disclaimer

    For personal use only Disclaimer This material has been prepared by BKI Investment Company Limited. The information within this document is not intended to provide advice to investors or take into account an individual’s financial circumstances or investment objectives. This is general investment ad

  3. Slide 3: BKI Result Highlights

    BKI Result Highlights For personal use only 1H 2013 1H 2012 Growth Ordinary Dividend Income $15.6m $14.3m 8.6% Net Operating Result* $15.4m $14.2m 8.8% Earnings Per Share* 3.56cps 3.33cps 6.9% Ordinary Dividend Per Share 3.25cps 3.20cps 1.2% Special Dividend Per Share 0.50cps - n/a Total Interim Div

  4. Slide 4: Net Operating Result

    Net Operating Result use only 16 14 12 For personal 10 $ Millions 8 6 4 2 0 1H 04 1H 05 1H 06 1H 07 1H 08 1H 09 1H 10 1H 11 1H 12 1H 13 4

  5. Slide 5: Dividends Paid

    Dividends Paid use only 4.0 3.5 1 0.5 3.0 1 0.5 0.5 For personal 2.5 Cents per Share 2.0 3.25 3.2 3.2 1.5 3 3 3 3 2.75 3 3 2.6 2.7 2.5 2.5 2.5 2.1 2.2 1.0 2 0.5 0.0 Ordinary Dividends Special Dividends 5

  6. Slide 6: Dividends and Franking Credits received from a $10,000 Investment in 2004

    Dividends and Franking Credits received from a $10,000 Investment in 2004 For personal use only  BKI Historical Dividend V’s Bank Quarterly Interest  Highlights the opportunity of a fully franked dividend in a falling interest rate environment 1,000 800 $ Australian Dollars 600 400 200 0 FY2005 FY

  7. Slide 7: BKI Grossed Up Dividend Yield

    BKI Grossed Up Dividend Yield Assumes a tax rate of 30% For personal use only 10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% BKI Grossed Up Dividend Yield 90 Day Bank Bill 7

  8. Slide 8: Management Expense Ratio

    Management Expense Ratio For personal use only 0.80% 0.69% 0.71% 0.70% 0.56% 0.60% 0.46% 0.46% 0.50% BKI Internally Managed 0.40% 0.31% 0.30% 0.19% 0.18% 0.18% 0.18% 0.20% 0.10% 2004 2005 2006 2007 2008 2009 2010 2011 2012 1H 13 8

  9. Slide 9: BKI Performance as at December 2012

    BKI Performance as at 31 December 2012 For personal use only BKI Performance 1 Year 3 Years 5 Years 7 Years 9 Years as at 31 December 2012 (pa) (pa) (pa) (pa) S&P/ASX 300 ACC INDEX (XKOAI) 19.7% 2.8% -1.8% 4.1% 8.4% BKI Portfolio Returns are BKI Total Shareholder Returns 25.5% 7.8% 4.9% 6.7% 8.9% me

  10. Slide 10: Total Shareholder Returns

    Total Shareholder Returns as at 31 December 2012 For personal use only 30.0% 25.5% 25.0% 19.7% 20.0% 15.0% 8.9% 8.4% 10.0% 7.8% 6.7% 4.9% 5.0% 4.1% 2.8% 0.0% -1.8% -5.0% 1 Year 3 Years (pa) 5 Years (pa) 7 Years (pa) 9 Years (pa) BKI Total Shareholder Returns S&P/ASX 300 ACC INDEX (XKOAI) Source: BKI

  11. Slide 11: Discount to NTA

    Discount to NTA as at 31 December 2012 For personal use only $1.70 30.0% $1.60 $1.50 $1.40 20.0% $1.30 $1.20 10.0% $1.10 $1.00 0.0% $0.90 $0.80 $0.70 -10.0% $0.60 $0.50 -20.0% Prem/Disc % Pre Tax NTA BKI Share Price 11

  12. Slide 12: Share Purchase Plan

    Share Purchase Plan Completed October 2012 For personal use only  $19.1m raised through the Share Purchase Plan (SPP).  SPP shares were issued at $1.29. Now trading at $1.45 (as at 29 January 2012).  SPP shares entitled to Fully Franked Interim Dividend of 3.25cps and Fully Franked Special Divide

  13. Slide 13: Portfolio Valuation

    Portfolio Valuation use only 700 600 500 For personal $ Millions 400 300 200 100 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 1H 2013 Investment Portfolio Cash 13

  14. Slide 14: Top 20 Shareholdings

    BKI Investment Company Limited Index 1 NHC New Hope Corporation 9.5% 0.0% 2 CBA Commonwealth Bank 9.1% 7.9% 3 NAB National Australia Bank 8.4% 4.9% For personal use only Top 20 Shareholdings 4 5 BHP BHP Billiton Limited WBC Westpac Banking Corp. 7.9% 7.0% 9.3% 6.5% 6 TLS Telstra Corporation 4.9% 4.4

  15. Slide 15: Sector Weightings

    Sector Weightings For personal use only Sector Portfolio Weight Index Weight 31 Dec 2012 31 Dec 2012 Financials 36.6% 32.6% Energy 12.2% 7.3% Consumer Staples 11.3% 7.7% Materials 9.3% 20.9% Industrial 7.5% 7.3% Telecommunications 6.7% 5.1% Cash 6.4% Consumer Discretionary 4.8% 5.6% Utilities 3.6% 1

  16. Slide 16: Sector Performance Months to December 2012

    Sector Performance 12 Months to 31 December 2012 For personal use only (BKI Top 20 V’s S&P/ASX300 Accumulation Indexes) 100% 90% 80% 70% 60% 50% BKI Investment 40% Company (BKI.ASX) 30% 20% 10% S&P/ASX 300 0% -10% -20% Telco Financials Consumer Consumer Utilities XKOAI Industrials Materials Energy S

  17. Slide 17: Sector Performance Months to December 2012

    Sector Performance 12 Months to 31 December 2012 For personal use only (BKI Top 20 V’s S&P/ASX300 Accumulation Indexes) 100% TPM 90% 80% 70% 60% 50% BKI ARP Investment 40% TLS Company APA (BKI.ASX) 30% CBA WES WBC WOW 20% ANZ IVC MLT AGK CCL ALQ NAB WPL 10% S&P/ASX 300 BHP 0% QBE MTS -10% NHC -20% T

  18. Slide 18: Benefits of investing in BKI.ASX

    Benefits of investing in BKI.ASX For personal use only  Performance - Delivering sound long term returns to shareholders.  Low Cost - Management Expense Ratio of 18bps. No Performance Fees.  Dividends - Predictable fully franked income stream.  Franking Credits - 30% tax rate already paid on div

  19. Slide 19: BKI Fact Sheet

    19 BKI Fact Sheet www.bkilimited.com.au For personal use only ASX Code BKI.ASX Research Coverage Morningstar Listing Date December 2003 IRR Mandate Aust Listed Equities Morgan Stanley Smith Investment Sectors Diversified Barney S&P/ASX 300 Bell Potter Benchmark Evans and Partners Acc Index Total Ass

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