Investec plc · LSE:INVP
Investec — H1 FY2002 Earnings Presentation
31 slides from Investec's earnings presentation, November 2001
Slide 1: Interim results for the six months ended 30 September 2001
interim results for the six months ended 30 September 2001 Investec Group Limited
Slide 2: Contents
Investec Group Limited Contents Unaudited Group results for the six months ended 30 September 2001 Investec Group Limited 1 Directorate and corporate information 2 Salient features 4 Commentary and dividend announcement 14 Consolidated balance sheet 15 Consolidated income statement 16 Statement of c
Slide 3: Directorate and Corporate Information
Investec Group Limited Investec Group Limited Unaudited Group result s for the six months ended Directorate and Corporate Information 3 0 S eptember 20 01 Investec Group Limited Registered Office Reg. No. 1925/002833/06 100 Grayston Drive, Sandown, Sandton 2196. Executive Directors PO Box 785700, Sa
Slide 4: Salient Features
Investec Group Limited Investec Group Limited Salient Features Salient Features Refer to definitions on page 55 Refer to definitions on page 55 30 Sept. % 30 Sept. 31 March 30 Sept. % 30 Sept. 31 March 2001 increase 2000* 2001* 2001 increase 2000* 2001* Income Statement and Salient Financial Feature
Slide 5: Commentary
Investec Group Limited Investec Group Limited Commentary Commentary Business unit review Overall performance • Investment Banking Investec is pleased to announce that headline earnings for the half-year ended 30 September 2001 increased by 31.0% to R760 million. Headline earnings per share The perio
Slide 6: Commentary
Investec Group Limited Investec Group Limited Commentary Commentary The Treasur y and Finance Group continued to focus on enhancing and developing its Private Client Stockbroking capabilities internationally. The European equity derivatives and commodities teams have made substantial progress in cre
Slide 7: Commentary
Investec Group Limited Investec Group Limited Commentary Commentary the UK’s fastest growing retail funds businesses. The Group’s offshore funds listed in Across all businesses acquired, significant progress was achieved in reducing expenses Guernsey and Dublin also received net inflows to the tune
Slide 8: Commentary
Investec Group Limited Investec Group Limited Commentary Commentary Wentwor ths, Radcliffes and Theodores which cumulatively accounted for 41.3% of the Capital resources increase in total income of 32.5%. Fur thermore, the Group’s annuity income as a percentage of total income increased from 70.0% l
Slide 9: Commentary and Dividend Announcement
Investec Group Limited Investec Group Limited Commentary With the integration of the Fedsure acquisition behind us, the Group is able to focus its Interim Financial Repor t effor ts on building its businesses across all fronts. However, despite a strong sense of satisfaction as to the operational he
Slide 10: Consolidated Balance Sheet and Income Statement
Investec Group Limited Investec Group Limited Consolidated Balance Sheet Consolidated Income Statement 30 Sept. 30 Sept. 31 March 6 months to 6 months to Year to (R millions) 2001 2000* 2001* 30 Sept. % 30 Sept. 31 March (R millions) 2001 increase 2000* 2001* Assets Cash and shor t term funds 80 541
Slide 11: Changes in Shareholders' Equity and Cash Flow Statement
Investec Group Limited Investec Group Limited Statement of Changes in Shareholders’ Equity Abridged Cash Flow Statement 6 months to 6 months to Year to 6 months to 6 months to Year to 30 Sept. 30 Sept. 31 March 30 Sept. 30 Sept. 31 March (R millions) 2001 2000* 2001* (R millions) 2001 2000* 2001* Or
Slide 12: Accounting Policies and Calculation of Headline Earnings
Investec Group Limited Investec Group Limited Headline earnings Accounting Policies R’mn 1400 Interim headline earnings Final headline earnings Basis of presentation 1200 1000 The interim financial repor t has been prepared on the historical cost basis, except for 800 investments which are stated at
Slide 13: Group Operating Structure
Investec Group Limited Investec Group Limited Group Operating Structure Segmental Information - Divisional and Geographic Review The Group’s core philosophy has been to build well-defined, value-added businesses focused on ser ving the needs of select market niches where the Group can compete effect
Slide 14: Primary Segment - Geographical Analysis
Investec Group Limited Investec Group Limited Primary Segment - Geographical Analysis Primary Segment - Geographical Analysis For the six months ended 30 September 2001 For the six months ended 30 September 2000 Southern United Investec Southern United Investec Africa & Kingdom Group Africa & Kingdo
Slide 15: Primary Segment - Geographical Analysis
Investec Group Limited Investec Group Limited Primary Segment - Geographical Analysis Primary Segment - Geographical Analysis For the six months ended 30 September 2001 For the six months ended 30 September 2000 Southern United Investec Southern United Investec Africa & Kingdom Group Africa & Kingdo
Slide 16: Secondary Segment - Business Analysis
Investec Group Limited Investec Group Limited Secondary Segment - Business Analysis 4 Geographic and Business Analysis of Headline NIBT For the six months ended 30 September 2001 For the six months ended 30 September 2001 Asset Southern United Investec Treasury Management Private Investec Africa & K
Slide 17: Other Business Segment - Headline NIBT
Investec Group Limited Investec Group Limited “Other” Business Segment - Headline NIBT Geographic and Business Analysis 30 Sept. 30 Sept. % Headline earnings Assets by Net tangible asset (R millions) 2001 2000 increase by geography geography value by geography (7.6%) (4.9%) (5.3%) (5.3%) (10.2%) Net
Slide 18: Capital Adequacy Statement
Investec Group Limited Investec Group Limited Capital Adequacy Statement Additional Information Total Risk-weighted Risk-weighted assets assets assets 30 Sept. 30 Sept. 30 Sept. (R millions) 2001 2001 2000* Total assets - banking activities a 85 182 49 306 43 704 Trading assets subject to CAD 166 68
Slide 19: Asset Quality, Assets Under Administration, Adequacy of Provisions
Investec Group Limited Investec Group Limited Asset Quality, Specific and General Provisions Assets Under Administration 6 months to 6 months to Year to 30 Sept. 30 Sept. 31 March 30 Sept. 30 Sept. 31 March (R millions) 2001 2000* 2001* (R millions) 2001 2000 2001 Retail (includes unit trusts, mutua
Slide 20: Operating Expenses by Type and Net Interest Margin
Investec Group Limited Investec Group Limited Operating Expenses by Type Net Interest Margin - extracting impact of short dated money market instruments 6 months to 6 months to Year to 30 Sept. 30 Sept. 31 March 6 months to 6 months to Year to (R millions) 2001 2000 2001 30 Sept. 30 Sept. 31 March (
Slide 21: Operating Income by Type, Return on Equity and Investment
Investec Group Limited Investec Group Limited Operating Income by Type Return on Equity 6 months to 6 months to Year to 30 Sept. 30 Sept. 31 March 30 Sept. 30 Sept. 31 March (R millions) 2001 2000 2001 (R millions) 2001 2000 2001 Average shareholders’ funds 8 280 6 169 6 262 Commission & Fees - Recu
Slide 22: Share Statistics
Investec Group Limited Investec Group Limited Share Statistics Refer to definitions on page 55 Acquisition of the insurance and financial services Investec Group Limited ordinary shares businesses of Fedsure Holdings Limited for the six months ended 30 Sept 2001 2000 1999 1998 1997 Closing market pr
Slide 23: Fedsure Acquisition Information
Investec Group Limited Investec Group Limited At Acquisition Information Income Statement Information Financial information Earnings attributable to Fedsure acquisition for four months ended 30 September 2001 Net asset value at 1 June 2001 (R millions) (R millions) Life Business Financial Services I
Slide 24: Investec Holdings - Embedded Value Information
Investec Group Limited Investec Holdings Limited Balance Sheet/Embedded Value Information Unaudited Group result s for the six months ended 3 0 S eptember 20 01 Embedded Value (R millions) 31 Dec 2000 31 Mar 2001 31 May 2001 30 Sept 2001 Net Asset Value 880 1 563 2 271 2 381 Value of In-force 1 285
Slide 25: Investec Holdings Salient Features and Corporate Information
Investec Holdings Limited Investec Holdings Limited Salient Features Directorate and Corporate Information Refer to definitions on page 55 30 Sept. % 30 Sept. 31 March Investec Holdings Limited Registered Office 2001 increase 2000* 2001* Reg. No. 1985/005574/06 100 Grayston Drive, Sandown, Sandton 2
Slide 26: Investec Holdings Commentary, Balance Sheet, Dividend Announcement
Investec Holdings Limited Investec Holdings Limited Commentary Consolidated Balance Sheet The results of Investec Holdings Limited (Inhold) reflect the strong performance of the company’s subsidiary Investec Group Limited (Investec). Inhold shareholders are referred to 30 Sept. 30 Sept. 31 March Inv
Slide 27: Consolidated Income Statement and Changes in Equity
Investec Holdings Limited Investec Holdings Limited Consolidated Income Statement Statement of Changes in Shareholders’ Equity 6 months to 6 months to Year to 6 months to 6 months to Year to 30 Sept. % 30 Sept. 31 March 30 Sept. 30 Sept. 31 March (R millions) 2001 2000* 2001* (R millions) 2001 incre
Slide 28: Abridged Cash Flow Statement and Accounting Policies
Investec Holdings Limited Investec Holdings Limited Abridged Cash Flow Statement Accounting Policies 30 Sept. 30 Sept. 31 March Basis of presentation (R millions) 2001 2000* 2001* The interim financial repor t has been prepared on the historical cost basis, except for investments which are stated at
Slide 29: Share Statistics
Investec Holdings Limited Investec Holdings Limited Share Statistics Refer to definitions on page 55 Headline earnings per share for six months ended 30 September Investec Holdings Limited ordinary shares cents 700 for the six months ended 30 Sept 2001 2000 1999 1998 1997 600 Closing market price pe
Slide 30: Financial Definitions
Investec Group Limited & Investec Holdings Limited Financial Definitions Financial Definitions Assets under administration Includes third par ty assets under administration and on-balance sheet assets. Dividend cover Headline earnings per ordinar y share divided by dividends per ordinar y share. Div
Slide 31: Financial Definitions
Investec Group Limited & Investec Holdings Limited Financial Definitions Return on average risk weighted assets Headline earnings expressed as a percentage of average risk weighted assets, as defined in the Banks Act. Return on average shareholders’ funds Headline earnings before deducting the after