Mystate Limited · ASX:MYS

Mystate — Shareholder Meeting (October 2010)

30 slides from Mystate's shareholder meeting presentation, Oct 29, 2010

  1. Slide 1: Annual General Meeting

    MyState Limited (ASX Code: MYS) For personal use only Annual General Meeting 29 October 2010

  2. Slide 2: MyState Limited Annual General Meeting - John Gilbert

    MyState Limited For personal use only Annual General Meeting 29 October 2010 John Gilbert Managing Director

  3. Slide 3: Disclaimer

    Disclaimer This presentation contains certain forward‐looking statements with respect to the financial condition, results of operations, business plans and objectives of management. All such forward‐looking statements involve known and unknown risks, For personal use only significant uncertainties,

  4. Slide 4: Programme

    Programme For personal use only • Merger Update • Business Update • Performance Highlights • Strategic Priorities

  5. Slide 5: Merger Update

    Merger Update For personal use only The Board believes that the recent merger of MSF and TPT has created a fully integrated financial services group with increased scale which allows us to:  deliver a greater range of products and services to existing and new customers  enhance our future growth o

  6. Slide 6: Our Group Structure

    Our Group Structure For personal use only MyState Limited Non-Operating Holding Company d 10 ne 0% ow ow 0% ne 10 d Subsidiary Subsidiary

  7. Slide 7: The Merger Proposal: One Year On

    The Merger Proposal: One Year On For personal use only • For All Shareholders:  Earnings per share (EPS) accretive in Year 1 and strongly EPS accretive thereafter. ‐ Achieved  Continued & further EPS uplift as a result of cost and revenue synergies in years 2 and 3. ‐ On Track  Anticipated enhanc

  8. Slide 8: MyState Limited: Market Position

    MyState Limited: Market Position as at 30 June 2010 For personal use only Market capitalisation $ 211M NPAT $17.3M Net Assets $198.4M Funds Under Management (1) $0.93B Loans Under Management (2) $1.71B Funds Under Advice or Administration (1)(2) $741M Deposits (2) $1.57B (1) Relates to Tasmanian Per

  9. Slide 9: MyState Limited: Merger Outcomes

    MyState Limited: Merger Outcomes For personal use only • Revenue synergies  Increased product and service offering delivering opportunities to create revenue growth  Cross referral process between MSF and TPT underway • Cost synergies  Operating cost synergies realised in YEJ 10 and ongoing  A s

  10. Slide 10: MYS Group Results for the Year ending June 2010

    MYS Group Results for the Year ending 30 June 2010 For personal use only • Comprised of 12 months trading for MyState Financial (MSF) and 10 months for Tasmanian Perpetual Trustees (TPT) • Group Revenue of $155.58M • Group Profit After Tax (PAT) of $17.34M (Includes some “one‐ off” costs and gains)

  11. Slide 11: MYS Group Results - Revenues

    MYS Group Results ‐ Revenues For personal use only • MSF Net Interest Margin (NIM) is stable • TPT Managed Investment Scheme (MIS) management fees have stabilised after the Global Financial Crisis (GFC), but below 2008 levels • TPT capital and income commissions down 16% on 2009 levels due to effect

  12. Slide 12: MYS Group Results - Expenses

    MYS Group Results ‐ Expenses For personal use only • MSF salaries down on last year, despite “one‐offs” demonstrating good progress with cost savings • MSF bad debts stable in YEJ 10 • All other MSF costs stable • TPT wages up in YEJ 10 due to “one‐off” redundancy costs • TPT underlying wages reduce

  13. Slide 13: MYS Group Significant Items (pre-tax)

    MYS Group Significant Items (pre‐tax) for Year ended 30 June 2010 For personal use only Twelve months ended 30 June 2010 ($M) Share sale facility costs (1.2) Redundancy costs (3.2) Stamp duty costs on Connect/Island State merger (0.4) Executive recruitment costs (0.2)

  14. Slide 14: MSF $1.83 billion in Deposits & FUA

    MSF $1.83 billion in Deposits & FUA For personal use only MSF Deposits & FUA  Total Deposits 2,000 Growth of 20%  $256 million FUA* 1,500 through Financial ($ M illions ) Planning Services. 1,000 * FUA – funds under advice 500 0 2009 2010 Deposits FUA

  15. Slide 15: MSF Total Deposits

    MSF Total Deposits For personal use only Source: APRA : Six & Twelve Monthly growth is to Jun-10 annualised

  16. Slide 16: MSF $1.71 billion in Loans

    MSF $1.71 billion in Loans For personal use only MSF Loans 2,000  14% 1,500 ($ Millions) Growth 1,000 in loans for twelve 500 months to June 2010 0 2008 2009 2010 Loans

  17. Slide 17: Home Lending - MSF Vs System

    Home Lending ‐ MSF Vs System For personal use only Source: RBA : Six & Twelve Monthly growth is to Jun‐10 annualised

  18. Slide 18: MSF Provision for Doubtful Debts

    MSF Provision for Doubtful Debts For personal use only 4.0 0.30% 0.25% 3.8 %age of Total Loan Book 0.20% 3.6 $m 0.15% 3.4 0.10% 3.2 0.05% 3.0 0.00% 2008 2009 2010 Provision for Doubtful Debts (LHS) Provision % (RHS)

  19. Slide 19: MSF Net Interest Margin

    MSF Net Interest Margin For personal use only Net Interest Margin 4.00% 3.80% 3.60% 3.40% 3.20% 3.00% 2.80% 2.60% 2.40% 2.20% 2.00% Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- 09 09 09 09 09 09 09 10 10 10 10 10 10 Net Interest Margin

  20. Slide 20: MyState Financial Leads Customer Satisfaction

    MyState Financial Leads Customer Satisfaction For personal use only 88% 85% 81% 80% 67% Customer that are Satisfied to Extremely Satisfied Results taken from a representative sample of 800 adults aged 18-70 who are users of financial services products. Sample is equal to gender, age and other nation

  21. Slide 21: MYS Group Capital Adequacy

    MYS Group Capital Adequacy For personal use only Capital Adequacy Group Basis 15.50 15.00 14.50 14.00 13.50 13.00 12.50 12.00 Mth Note: Estimated ratio at finalisation of $250.25 million RMBS transaction is 14.62%

  22. Slide 22: TPT $0.93 billion Funds Under Management

    TPT $0.93 billion Funds Under Management For personal use only TPT Funds Under Management Fund levels impacted by GFC, 1,600 unfavourable 1,379 interest rate 1,400 1,305 1,307 1,247 1,211 environment, 1,170 1,200 intense competition 1,045 1,006 for retail funds and 1,000 934 ($ M illio ns) adverse m

  23. Slide 23: TPT $0.48 billion Funds Under Advice

    TPT $0.48 billion Funds Under Advice For personal use only TPT Funds Under Advice 700 $485 million FUA* 600 547 567 576 through Financial 501 485 500 Planning Services. ($ Millions) 400 *FUA – funds under advice 300 200 100 0 2006 2007 2008 2009 2010

  24. Slide 24: Returns to Shareholders

    Returns to Shareholders For personal use only The Board of MyState Limited has established a policy of generally paying ordinary dividends each year within the range of 70% to 90% of net profit after tax. This reflects;  confidence in the prospects of the business  strong cash flow generation  hi

  25. Slide 25: Twelve Month Relative Stock Performance to September 2010

    MyState Limited Twelve Month Relative Stock Performance to September 2010 For personal use only Relative Performance (%) 130 125 120 115 110 105 100 95 90 85 80 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 ASX:MYS - Share Pricing S&P/ASX All Ordinaries Index -

  26. Slide 26: Twelve Month Stock Performance to September 2010

    MyState Limited Twelve Month Stock Performance to September 2010 For personal use only Share Pricing in AUD 3.90 1,200,000 3.70 1,000,000 3.50 800,000 3.30 600,000 3.10 400,000 2.90 200,000 2.70 2.50 0 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 ASX:MYS - Shar

  27. Slide 27: Strategic Priorities

    For personal use only Strategic Priorities

  28. Slide 28: Strategic Priorities

    Strategic Priorities For personal use only • Rolling 3 year Strategic Plan developed by Board and Executive and to be reviewed each year. • Yearly targets/milestones set with quarterly progress reporting to the Board.

  29. Slide 29: Questions?

    For personal use only Questions ?

  30. Slide 30: MyState Limited Annual General Meeting

    MyState Limited (ASX Code: MYS) For personal use only Annual General Meeting 29 October 2010

MyState — Shareholder Meeting (October 2010) on 6ix