Slide 1: 4Q2017 & FY2017 Results Presentation
4Q2017 & FY2017 Results Presentation 14 February 2018 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 4Q2017 (Oct – Dec 2017) and FY2017 (Jan – Dec 2017) results Financial ratios Financial position Proposed final dividend for FY2017 and dividend guidance for FY2018 II Performance Trends Assets under Administration (AUA) Net sales and subscription ex
Slide 4: Key Summary
Key Summary • The Group’s Assets Under Administration (AUA) increased 24.3% YoY, reaching another record high of S$7.58 billion as at 31 December 2017, marking the sixth consecutive quarter of record AUA levels for the Group • The improvements resulted from the Group’s continuing efforts at strength
Slide 5: Group AUA grew 24.3% YoY to record S$7.58 billion
Group AUA grew 24.3% YoY to record S$7.58 billion S$ million AUA (as at 31 Dec 2017): S$7.58 billion¹ $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $- Dec-00 Dec-01 Dec-02 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Jun-01 Jun-02
Slide 6: Key Summary
Key Summary • The Group believes that the efforts over the last two to three years to broaden the range of products and services available on its platforms are showing some initial results • The Group now runs a more comprehensive wealth management platform that will help bring the Group’s AUA and o
Slide 7: Section I: Financial Results
Section I: Financial Results PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 8: Presentation of Group’s Results
Presentation of Group’s Results Presentation of Group’s results (including and excluding China) • In view of the guidance we have provided on our China operation (that the China business would be expected to have a negative impact on the Group’s overall operating profit on a consolidated basis in 20
Slide 9: Financial Results for Group (excluding China operation) (4Q2017 vs 4Q2016)
Financial Results for Group (excluding China operation) (4Q2017 vs 4Q2016) S$ (Million) 4Q2016 4Q2017 YoY change (%) Revenue 21.28 28.04 +31.7 Net revenue 10.85 13.17 +21.4 Other income 0.47 0.98 +108.5 Expenses 8.98 10.60 +18.0 Net finance income 0.20 0.20 +0.0 Share of results of associates, net o
Slide 10: Financial Results for Group (including China operation) (4Q2017 vs 4Q2016)
Financial Results for Group (including China operation) (4Q2017 vs 4Q2016) S$ (Million) 4Q2016 4Q2017 YoY change (%) Revenue 21.55 28.18 +30.8 Net revenue 10.98 13.30 +21.2 Other income 0.47 0.99 +109.3 Expenses 10.18 11.95 +17.3 Net finance income 0.20 0.20 +0.0 Share of results of associates, net
Slide 11: Financial Results for Group (excluding China operation) (FY2017 vs FY2016)
Financial Results for Group (excluding China operation) (FY2017 vs FY2016) S$ (Million) FY2016 FY2017 YoY change (%) Revenue 79.89 100.65 +26.0 Net revenue 40.46 49.01 +21.2 Other income 1.88 2.50 +32.7 Expenses 33.13 37.40 +12.9 Net finance income 0.82 0.72 -12.5 Share of results of associates, net
Slide 12: Financial Results for Group (including China operation) (FY2017 vs FY2016)
Financial Results for Group (including China operation) (FY2017 vs FY2016) S$ (Million) FY2016 FY2017 YoY change (%) Revenue 80.60 101.17 +25.5 Net revenue 40.69 49.45 +21.5 Other income 1.88 2.50 +32.9 Expenses 37.16 42.28 +13.8 Net finance income 0.84 0.74 -11.7 Share of results of associates, net
Slide 13: Results Overview for Group (excluding China operation)
Results Overview for Group (excluding China operation) S$ (Million) FY2013¹ FY2014² FY2015 FY2016 FY2017 Revenue 69.47 78.35 85.34 79.89 100.65 Net revenue 31.58 36.68 41.53 40.46 49.01 Other income 0.16 0.24 1.53 1.88 2.50 Operating expenses 23.58 25.62 30.06 33.13 37.40 Net finance income 0.03 0.1
Slide 14: Results Overview for Group (including China operation)
Results Overview for Group (including China operation) S$ (Million) FY2013¹ FY2014² FY2015 FY2016 FY2017 Revenue 69.47 78.35 85.34 80.60 101.17 Net revenue 31.58 36.68 41.53 40.69 49.45 Other income 0.16 0.24 1.53 1.88 2.50 Operating expenses 23.58 26.14 31.08 37.16 42.28 Net finance income 0.03 0.1
Slide 15: 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% 29.5% 29.6% 30% 30% 26.0% 26.0% 25% 24.3% 25% 20.4% 20% 20% 15.0% 15% 15% 10% 10% 5% 5% 0% 0% 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Notes: 1. PBT margins (2013) e
Slide 16: Financial Ratios
Financial Ratios S$ (Million) FY2013 FY2014 FY2015 FY2016 FY2017 Operating 7.13 10.18 14.18 5.63 13.22 Cashflows Capital 1.57 2.34 5.45 6.61 7.47 Expenditure 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec S$ (Million) 2013 2014 2015 2016 2017 Net Current 20.70 63.16 68.32 64.39 60.18 Assets 31 Dec 31 Dec 31 Dec
Slide 17: Cash position
Cash position As at 31 Dec 2016 As at 31 Dec 2017 (S$ million) (S$ million) Cash and cash equivalents 22.46 33.50 Other investments¹ 32.13 22.41 Total cash and other investments 54.59 55.91 Note: 1. Other investments comprise investments in available-for-sale financial assets and held-for-trading fi
Slide 18: Number of issued shares
Number of issued shares As at 31 Dec 2016 As at 31 Dec 2017 Total number of issued shares 262,223,415 264,672,618 (excluding treasury shares) 18 PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 19: Our Consolidated Financial Position as at 31 Dec 2017
Our Consolidated Financial Position as at 31 Dec 2017 S$’000 NON-CURRENT ASSETS Fixed Assets 2,308 Intangible Assets 13,622 Associates 1,616 Other Investments 3,849 Deferred Tax Assets 542 Others 346 22,283 CURRENT ASSETS Trade & Other Receivables 37,225 Prepayments & Others 1,315 Other Investments
Slide 20: Our Consolidated Financial Position as at 31 Dec 2017 (cont’d)
Our Consolidated Financial Position as at 31 Dec 2017 (cont’d) S$’000 CURRENT LIABILITIES Trade & Other Payables 33,189 Finance Lease 5 Current Tax Payable 1,079 34,273 NON-CURRENT LIABILITIES Deferred Tax 1,195 Finance Lease 13 1,208 EQUITY Share Capital 65,545 Accumulated profits 17,361 Other Rese
Slide 21: Proposed Final Dividend for FY2017 and Dividend Guidance for FY2018
Proposed Final Dividend for FY2017 and Dividend Guidance for FY2018 Proposed Final Dividend for FY2017 - Schedule Dividend per share 0.90 cents per ordinary share Ex-dividend date 24 April 2018 Record date and time 26 April 2018 (5.00 pm) Payment date 8 May 2018 • The Group’s Dividend Guidance for F
Slide 22: Section II: Performance Trends
Section II: Performance Trends PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 23: Group AUA Trends
Group AUA Trends Singapore: 68.3% Hong Kong: 22.1% Malaysia: 7.4% Others: 2.2% • The AUA contribution from the China Business and India Business (based on the Group’s effective 16.06% share of the India Business) is included in the ‘Others’ category • The Group’s AUA rose 24.3% YoY and 5.9% QoQ to a
Slide 24: Net sales & Subscription ex-switching
Net sales & Subscription ex-switching S$ million S$ million Net Sales Subscription ex-switching $1,000 $3,000 $942 $900 $2,570 $2,500 $800 $700 $2,000 $600 $1,670 $1,547 $1,574 $501 $500 $458 $1,500 $1,365 $396 $400 $1,000 $300 $235 $200 $500 $100 $- $- 2013 2014 2015 2016 2017 2013 2014 2015 2016 2
Slide 25: Net revenue breakdown between recurring and non-recurring sources
Net revenue breakdown between recurring and non-recurring sources Average contribution from recurring net revenue as opposed to non-recurring net revenue in the S$ million period from 2012 to 2017 was 83.0% 60 50 8.5 40 6.9 6.0 7.2 30 6.0 4.0 4.8 20 18.1 4.6 40.9 12.3 34.6 34.7 4.0 29.5 25.6 10 20.4
Slide 26: 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% 0.126% 0.134% 0.600% 0.500% 0.400% 0.300% 0.591% 0.615% 0.609% 0.606% 0.574% 0.200% 0.100% 0.000% 2013 2014 2015 2016 2017 Recurring net revenue / AUA Non-recurring net revenue / AUA 26 PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL
Slide 27: 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% 0.729% 0.707% 0.711% 0.700% 0.615% 0.607% 0.606% 0.591% 0.582% 0.600% 0.574% 0.556% 0.528% 0.534% 0.513% 0.500% 0.400% 0.300% 0.200% 0.100% 0.000% 2013 2014 2015 2016 2017 Net reve
Slide 28: 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% 0.732% 0.707% 0.714% 0.700% 0.652% 0.615% 0.625% 0.609% 0.606% 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 2017 Net reve
Slide 29: Recurring and Non-Recurring Net Revenue
Recurring and Non-Recurring Net Revenue S$ (Million) FY2013 FY2014 FY2015 FY2016 FY2017 Recurring net revenue 25.62 29.48 34.64 34.71 40.95 Non-recurring net revenue 5.96 7.20 6.89 5.98 8.50 Total net revenue 31.58 36.68 41.53 40.69 49.45 YoY Change (%) FY2013 FY2014 FY2015 FY2016 FY2017 Recurring n
Slide 30: Net Revenue – Geographical Segment
Net Revenue – Geographical Segment S$ (Million) FY2013 FY2014 FY2015 FY2016 FY2017 Singapore 24.10 25.72 30.04 29.54 34.77 Hong Kong 6.50 9.48 9.55 8.66 10.78 Malaysia 0.98 1.48 1.94 2.26 3.47 China - - - 0.23 0.43 Group 31.58 36.68 41.53 40.69 49.45 YoY Change (%) FY2013 FY2014 FY2015 FY2016 FY2017
Slide 31: Net Revenue – B2B Business Segment
Net Revenue – B2B Business Segment B2B Net Revenue FY2013 FY2014 FY2015 FY2016 FY2017 (S$ Million) Recurring net revenue 18.16 21.09 24.50 24.49 28.85 Non-recurring net revenue 3.06 4.46 4.09 3.86 5.15 Total B2B net revenue 21.22 25.55 28.59 28.35 34.00 YoY Change (%) FY2013 FY2014 FY2015 FY2016 FY2
Slide 32: Net Revenue – B2C Business Segment
Net Revenue – B2C Business Segment B2C Net Revenue FY2013 FY2014 FY2015 FY2016 FY2017 (S$ Million) Recurring net revenue 7.46 8.39 10.15 10.22 12.10 Non-recurring net revenue 2.90 2.74 2.79 2.12 3.35 Total B2C net revenue 10.36 11.13 12.94 12.34 15.45 YoY Change (%) FY2013 FY2014 FY2015 FY2016 FY201
Slide 33: Profit/Loss – Geographical Segment
Profit/Loss – Geographical Segment Profit/Loss YoY Change YoY Change (S$ Million) 4Q2016 4Q2017 (%) FY2016 FY2017 (%) Singapore 2.23 2.87 +29.0 9.07 11.91 +31.3 Hong Kong 0.18 0.56 +215.8 0.53 1.82 +242.4 Malaysia 0.10 0.31 +183.3 0.38 1.07 +182.3 Others¹ (0.07) (0.02) -72.9 (0.16) (0.33) +106.3 Pro
Slide 34: Profit/Loss – Geographical Segment
Profit/Loss – Geographical Segment Profit/Loss (S$ Million) FY2013 FY2014 FY2015 FY2016 FY2017 Singapore 8.39¹ 9.37² 11.82 9.07 11.91 Hong Kong 0.40 2.10 1.65 0.53 1.82 Malaysia (0.36)4 (0.04)4 0.28 0.38 1.07 Others³ - (0.01) (0.02) (0.16) (0.33) Profit before tax (excluding China operation) 8.43 11
Slide 35: FY2017 Results & Outlook - Singapore
FY2017 Results & Outlook - Singapore • AUA of the Singapore operation grew 19.3% YoY (+5.3% QoQ), reaching a record high of S$5.18 billion as at 31 December 2017 • Net revenue grew 17.7% YoY to S$34.77 million in FY2017, while net profit before tax grew 31.3% YoY to S$11.91 million in FY2017 • The r
Slide 36: FY2017 Results & Outlook – Hong Kong
FY2017 Results & Outlook – Hong Kong • Hong Kong’s AUA grew 27.4% YoY (+4.4% QoQ) to S$1.68 billion as at 31 December 2017 • Net revenue increased 24.5% YoY to S$10.78 million and net profit before tax improved 242.4% to S$1.82 million in FY2017 • Positive market sentiment contributed to the signifi
Slide 37: FY2017 Results & Outlook – Malaysia
FY2017 Results & Outlook – Malaysia • Malaysia’s AUA grew 52.0% YoY (+9.7% QoQ) to hit a record high of S$557.73 million as at 31 December 2017 • Net revenue grew 53.5% YoY to S$3.47 million and net profit before tax grew by 182.3% YoY to S$1.07 million in FY2017 • The strong growth in Malaysia reve
Slide 38: FY2017 Results & Outlook – China
FY2017 Results & Outlook – China • China’s AUA grew 318.0% YoY to RMB 406.6 million as at 31 December 2017 (31 December 2016: RMB 97.3 million) • The China business remains in the early stages of building the iFAST brand among potential clients and investment practitioners in China’s wealth manageme
Slide 39: FY2017 Results & Outlook – China
FY2017 Results & Outlook – China • The China operation is continuing to bring in sales through its team of in-house wealth advisers (under the ‘platform-cum-IFA incubator’ strategy). The recruitment and training for this advisory arm will continue, as the Group sees more potential in the inflows fro
Slide 40: Section III: Appendices
Section III: Appendices PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 41: Business Overview
Business Overview • We are an Internet-based investment products distribution platform with assets under administration (AUA) of S$7.58 billion as at 31 December 2017 (stock code: AIY) • Two main business divisions: – Business-to-Consumer (B2C) platform, Fundsupermart (including its new FSMOne multi
Slide 42: 2000 – 2017 Milestones
2000 – 2017 Milestones 2017 • Launch of Stocks & ETFs on FSM Hong Kong • Launch of Bonds on FSM Malaysia and • online robo-advisory service in Malaysia • iFAST Singapore admitted as Trading 2000 2008 2014 2015 Member of SGX-ST and Clearing Member of CDP • Launch of iFAST • Incorporation of • Distrib
Slide 43: Business Model
Business Model PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C 43
Slide 44: 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”) • Platform performs efficient collection of fees Product Providers • IT solutions and bac
Slide 45: Fees Illustration
Fees Illustration 45 PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 46: Thank you. For more information, please visit
Thank you. For more information, please visit www.ifastcorp.com PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C