Australian United Investment Co. Ltd. · ASX:AUI
Australian United Investment — Shareholder Meeting (October 2021)
20 slides from Australian United Investment's shareholder meeting presentation, Oct 13, 2021
Slide 1: 2021 Annual General Meeting Chairman's Address & Presentation (ASX lodgement)
AUSTRALIAN UNITED INVESTMENT COMPANY LIMITED ABN 37 004 268 679 LEVEL 20 TEL (613) 9654 0499 101 COLLINS STREET EMAIL INFO@AUI.COM.AU MELBOURNE VIC 3000 AUSTRALIA 13 October 2021 Electronic Lodgement 2021 Annual General Meeting Chairman’s Address & Presentation Dear Sir/Madam, In accordance with the
Slide 2: Chairman's Address
AUSTRALIAN UNITED INVESTMENT COMPANY LIMITED ABN 37 004 268 679 CHAIRMAN’S ADDRESS DELIVERED BY MR CHARLES GOODE AT THE 67th ANNUAL GENERAL MEETING OF THE COMPANY HELD BY AUDIO AND SLIDE WEBCAST ON WEDNESDAY 13TH OCTOBER 2021 AT 11.00 AM Welcome to this year’s Annual General The Directors have decid
Slide 3: Chairman's Address: performance and portfolio
2 To AUI Net Asset AUI Share S&P ASX 200 The portfolio of the Company is invested in 30 June Backing Price Accumulation 2021 Accumulation Accumulation Index Australian equities and at balance date was % p.a. % p.a. % p.a. spread over 43 companies. The Annual 1 Year 26.9 31.7 27.8 Report provides a l
Slide 4: Chairman's Address: net asset backing and outlook
3 AUI is a long-term investor and does not semiconductors, skill shortages in labour intend disposing of its total portfolio. arising from restrictions on immigration and However, under current accounting increased costs from environmental standards the Company is required to considerations complian
Slide 5: Outlook for the year ahead
4 We find it difficult to judge the outlook for the year ahead. We anticipate a reasonably strong recovery in the economy as high levels of vaccinations allow life to return to something like normal. We also expect the moderation of the current policy of low interest rates and high government expend
Slide 6: Australian United Investment Company Limited 2021 Annual General Meeting
Australian United Investment Company Limited 2021 Annual General Meeting 13 October 2021
Slide 7: Operating Profit
OPERATING PROFIT Excluding Special Dividends and Capital Gains Distributions Received $49.0M 50.0 $45.9M Operating profit, $M 45.0 $42.4M 2021 operating profit represented by: $40.0M 40.0 Net profit after tax $40.5M Less: special dividends ($7.5M) $33.0M 35.0 $33.0M 30.0 2017 2018 2019 2020 2021
Slide 8: Earnings Per Share
EARNINGS PER SHARE Excluding Special Dividends and Capital Gains Distributions Received 39.4 40.0 37.0 Earnings per share, cents 34.3 35.0 32.2 30.0 26.5 25.0 20.0 2017 2018 2019 2020 2021
Slide 9: Dividends Paid
DIVIDENDS PAID Dividend increased or held steady for the last 27 years 40.0 36.0 36.0 36.0 Dividends paid, cents per share 35.0 34.0 35.0 30.0 25.0 20.0 2017 2018 2019 2020 2021
Slide 10: At 30 June 2021
At 30 June 2021 2021 2020 Operating Expenses 0.11% 0.12% Bank Borrowings $135M $85M Cash on Hand $9.5M $21M Net Debt/Portfolio Ex Cash 8.8% 5.7% Interest Cover 19.5 times 14.8 times NTA after Provision for Dividend $10.27 $8.40
Slide 11: Net Asset Backing Accumulation
NET ASSET BACKING ACCUMULATION 2,500 S&P/ASX 200 Accumulation Performance AUI NTA Performance AUI Share Price Accumulation 2,000 AUI AUI NTA Share Price Index % p.a. % p.a. % p.a. 1,500 1 year 26.9 31.7 27.8 3 years 8.5 10.0 9.6 5 years 11.0 11.9 11.2 1,000 10 years 8.2 9.3 9.3 500 Jun-11 Jun-13 Jun
Slide 12: Largest Investments by Market Value
LARGEST INVESTMENTS BY MARKET VALUE At 30 June 2021 CBA 9% Other CSL 43% 8% BHP 7% Rio Tinto 7% Transurban 6% Wesfarmers WBC 6% ANZ DUI 4% 5% 5%
Slide 13: Investment Portfolio Main Sectors (June 2021)
INVESTMENT PORTFOLIO MAIN SECTORS At 30 June 2021 Infrastructure and Other Cash Transport 3% 1% Banks and Other 13% Financials 32% Healthcare 12% Consumer 19% Mining and Energy 20%
Slide 14: Main Purchases and Sales
MAIN PURCHASES AND SALES Since 30 June 2021 Purchases Sales • Worley • Santos • Northern Star Resources • Aurizon Holdings • Tabcorp Holdings • Napier Port Holdings • Goodman Group • Washington H Soul Pattinson • Ramsay Health Care • Invocare • Transurban
Slide 15: Investment Portfolio Main Sectors (September 2021)
INVESTMENT PORTFOLIO MAIN SECTORS At 30 September 2021 Other Cash Healthcare 3% 1% Banks and Other 13% Financials 33% Infrastructure and Transport 13% Mining and Energy Consumer 18% 19%
Slide 16: Australian United Investment Company Limited 2021 Annual General Meeting
Australian United Investment Company Limited 2021 Annual General Meeting 13 October 2021
Slide 17: Resolution 2: Remuneration Report
Resolution 2 Remuneration Report That the Remuneration Report that forms part of the Directors’ Report for the Company for the financial year ended 30 June 2021 be adopted. Proxy votes received prior to the meeting are as follows: For Open Against Abstain 66,515,499 9,109,631 320,257 69,229 87.58% 1
Slide 18: Resolution 3: Re-election of Mr Charles B Goode
Resolution 3 Re-election of Mr Charles B Goode That Mr Charles B Goode, a Director retiring from office by rotation in accordance with clause 62 of the Constitution, being eligible, is re-elected as a Director of the Company. Proxy votes received prior to the meeting are as follows: For Open Against
Slide 19: Resolution 4: Re-election of Mr Frederick S Grimwade
Resolution 4 Re-election of Mr Frederick S Grimwade That Mr Frederick S Grimwade, a Director retiring from office by rotation in accordance with clause 62 of the Constitution, being eligible, is re-elected as a Director of the Company. Proxy votes received prior to the meeting are as follows: For Op
Slide 20: Australian United Investment Company Limited 2021 Annual General Meeting
Australian United Investment Company Limited 2021 Annual General Meeting 13 October 2021
Australian United Investment Company — Shareholder Meeting (October 2021) on 6ix