Slide 1: Presentation to Shareholders - 2016 Annual General Meeting
PRESENTATION TO SHAREHOLDERS 28 November 2016 & CVC Limited 2016 ANNUAL GENERAL MEETING
Slide 2: Results for the Year Include
For personal use only RESULTS FOR THE YEAR INCLUDE: – Profit after tax to shareholders $13.8 million (2015: $18.3m) – Dividends paid of 10 cents per share (2015: 15 cents) – Cash holdings in excess of $21 million (2015: $54 M) – NTA increased during the year to $1.68 (2015: $1.55)
Slide 3: The Year in Review
THE YEAR IN REVIEW 12Qcons $255.4 niion $201.2 mniion 2015 15 cents 2015 $242.6 million 2015 = $185.7 million 10. 119532788 31.68. 2015 119,532,788 shares 2015 $1.55
Slide 4: The Year in Review
THE YEAR IN REVIEW | 68 2013 142 cents 2010 124 cents 2015 155 cents 130 cents 2009 = 110 cents 2014 = 163 cents 2011 126 cents 2008 169 cents VG | 2016
Slide 5: Highlights of the Year Include
For personal use only HIGHLIGHTS OF THE YEAR INCLUDE: – Returns of $19m from property backed investments – Strong profit contribution from the property financing segment – Realisations and strong profit contribution from a number of listed equity investments – Establishment of Eildon Capital Limited
Slide 6: Recent Developments and Outlook
For personal use only – Progressing the IPO of Eildon Capital Limited – Completion of the sale of Green’s Foods Holding Pty Limited for approx $24 million – Takeover offer received for Cellnet Group – Special dividend of 10 cents per share to be paid December 2016 – Contribution from all investment
Slide 7: Property Development Progress
For personal use only – Completion of development of Nowra retail property – Progression of the development of a number of long term property projects including: • Commencement of development of the Caboolture Highway Centre, along with the retail and commercial precinct over the course of 3-5 years
Slide 8: Net Assets Portfolio Nov 2016
For personal use only Nov 2016 Cash $49 M Listed Investments $78 M Property $62 M (net of borrowings) Private Equity $30 M TOTAL NET ASSETS $219 M The portfolio value represents the carrying value of investments and excludes the assets and liabilities of consolidated investee companies, such as cash
Slide 9: For personal use only
For personal use only ASX:BNO ASX:PRT ASX:CLT ASX:MSV ASX:CYC ASX:LTN ASX:TOT ASX:VSC
Slide 10: Property Investments
For personal use only – Property Investment include Direct and Indirect property investments – Direct investment is focused on Core investment return plus development opportunities and includes: – Marsden Park, NSW – Port Macquarie, NSW – Caboolture, QLD – Woolloongabba, QLD – Indirect investment in
Slide 11: Historical Property Performance
For personal use only HISTORICAL PROPERTY PERFORMANCE – The performance of CVC’s property investments has achieved 22.7% IRR over the last 7 years – In that time CVC has invested in 41 real estate related investments with total equity deployed of over $267 million and value created of $67 million
Slide 12: Marsden Park
For personal use only MARSDEN PARK – Joint Venture between CVC and Leamac Property Group – Project delivery agreement with Mirvac – 154 hectares of land in Sydney’s North West growth centre – Currently in planning process and is anticipated to yield in excess of 1,300 residential allotments – Projec
Slide 13: Liverpool
For personal use only LIVERPOOL – Joint venture between CVC, Abacus Property Group and Leamac Property Group – Option to acquire industrial land – Rezoning to residential, retail and commercial use – Current planning process anticipates a yield of in excess of 5,000 apartments – Project life in exce
Slide 14: Turrella
For personal use only TURRELLA – Joint venture between CVC and Leamac Property Group – Option to acquire industrial land – Rezoning to residential, retail and commercial use – Current planning process anticipates a yield of in excess of 325 apartments
Slide 15: Donnybrook
For personal use only DONNYBROOK – 273Ha in Melbourne’s northern growth corridor – Partnership with listed developer Villa World Limited – Conditional contract to sell 67.9ha (approx. 1,000 lots) to Satterley Property Group Pty Limited, conditional on PSP approval by 6 April 2020 – Currently in plan
Slide 16: Mooloolaba
For personal use only MOOLOOLABA – “The Wharf Mooloolaba”, Parkland Parade and River Esplanade – Acquisition of a strategic asset with an existing income stream and upside value creation – Developer to refurbish, reposition and release the existing retail tenancies with a focus on strong destination
Slide 17: Caboolture
For personal use only CABOOLTURE – Investment is a joint venture with a private developer to acquire and reposition 15Ha of land in Caboolture, 30 minutes north of Brisbane on the Bruce Highway. The property included an operating pub – Asset was purchased with planning in place for a fuel/travel cen
Slide 18: Private Equity and Listed Investments
For personal use only HERITAGE BRANDS LTD PAFTEC NSX listed Heritage Brands is a seller A unique and patented breath responsive and distributor of branded cosmetics, technology developed in Australia and toiletries, skin care, nail products, oils primarily sold into Western Europe. The and fragrance
Slide 19: Early Stage Investments
EARLY STAGE INVESTMENTS CVC Early Stage Investment Performance to 30 September 2016 $6,171,093 I Funds Deployed Unrealised Value Growth" “Investments made from November 2014, currently held by CVC Limited. Unrealised valuations as at date of this report - based on most recent capital raising valuati
Slide 20: CVC Litigation Funding
For personal use only CVC LITIGATION FUNDING • Established in 2015 to leverage CVC’s experience with insolvency transactions and distressed assets. • Pipeline of 12 cases with total claim value in excess of $30 million. • Primarily focused on insolvency and personal bankruptcy claims with a claim va