Slide 1: ASX Limited - 2011 Half-Year Results
For personal use only ASX Limited - 2011 Half-Year Results Robert Elstone, Managing Director and CEO Peter Hiom, Deputy CEO Ramy Aziz, Chief Financial Officer 17 February 2011
Slide 2: Disclaimer
Disclaimer For personal use only The material contained in this document is a presentation of general information about the ASX Group’s activities current as at the date of this presentation (17 February 2011). It is provided in summary and does not purport to be complete. You should not rely upon i
Slide 3: Important Notes
Important Notes For personal use only The financial statistics, including comparables, in this report are based on the ASX Group’s pro-forma income statement which itself is not audited, but is based upon externally reviewed accounts. There have been no material changes to accounting policies during
Slide 4: Agenda
Agenda For personal use only • Introduction Robert Elstone • Business Highlights Peter Hiom • Financial Results Summary Ramy Aziz • Post Balance Date Activity Robert Elstone • Questions
Slide 5: Introduction
Introduction For personal use only Robert Elstone Managing Director and CEO
Slide 6: Financial Highlights 1H11
Financial Highlights 1H11 For personal use only • Underlying net profit after tax (NPAT) of $175.5 million, up 2.9% (statutory NPAT of $172.0 million, up 2.3%) • Operating revenue excluding interest and dividends of $306.4 million, up 1.2% • Cash operating expenses of $68.1 million, down 0.1% • Unde
Slide 7: Financial Highlights 1H11
Financial Highlights 1H11 For personal use only • Comprehensive half-year report has been released today, including statutory reports. A section of my written commentary deals with the ASX-SGX merger announcement of 25 October 2010 • Sound financial and operational performance, and compliance with r
Slide 8: Business Highlights
Business Highlights For personal use only Peter Hiom Deputy CEO
Slide 9: Business Highlights
Business Highlights For personal use only • Satisfactory progress to expand trade execution services – Replacement of both cash and derivatives trading platforms completed (increased throughput, reduced latency) – New order types and VolumeMatch launched ($5bn executed) – ASX Net implemented for con
Slide 10: Business Highlights
Business Highlights For personal use only • Notwithstanding significant trade execution activities, efforts are now shifting to clearing and settlement – Provision of the trade acceptance service to AMOs – Emerging impetus for clearing of OTC interest rate swaps – OTC equity derivative clearing – Ca
Slide 11: Financial Results Summary
Financial Results Summary For personal use only Ramy Aziz Chief Financial Officer
Slide 12: Financial Performance – Income Statement
Financial Performance – Income Statement For personal use only JUN 09 DEC 09 JUN 10 DEC 10 (2H09) (1H10) (2H10) (1H11) $ Million $ Million $ Million $ Million Operating Revenue 252.1 302.8 285.4 306.4 Cash Operating Expenses 68.1 68.2 66.0 68.1 EBITDA 184.0 234.6 219.4 238.3 Depreciation and Amortis
Slide 13: Financial Performance - EBITDA
Financial Performance - EBITDA For personal use only EBITDA 1H07 to 1H11 280 Revenue growth, Revenue decline, Revenue recovery, cost reduction cost containment continued cost containment (post merger) (GFC) (post GFC) 260 246 238 240 229 232 235 220 216 $ Million 219 200 184 180 184 160 140 1H07 2H0
Slide 14: Revenue Highlights 1H11
Revenue Highlights 1H11 For personal use only 1H11 Revenue $63.6m $81.0m $82.4m $35.2m $18.9m $16.9m $8.4m $306.4m Change 3% 14% 15% 0% 29% 14% 30% 1% From 1H10 (pcp) Listings Cash Derivatives Information Market Austraclear Other Total Market Services Connectivity Revenue - 1H10 Revenue - 1H11 Austr
Slide 15: Revenue Highlights 1H11
Revenue Highlights 1H11 For personal use only Listings Revenue Cash Market Revenue Derivatives Revenue 100 100 100 90 90 90 80 80 80 70 70 70 60 $ Million 60 $ Million 60 $ Million 50 50 50 40 40 40 30 30 30 20 20 20 10 10 10 0 0 0 1H10 1H11 1H10 1H11 1H10 1H11 Warrants and Debt Cash Market Settleme
Slide 16: Financial Performance – Expenses
Financial Performance – Expenses For personal use only Expenses JUN 09 DEC 09 JUN 10 DEC 10 (2H09) (1H10) (2H10) (1H11) $ Million $ Million $ Million $ Million Staff 40.1 39.6 38.1 39.4 Occupancy 6.2 6.7 7.2 6.7 Equipment 11.7 11.3 10.9 10.9 Administration 7.8 7.6 7.6 7.2 Variable 2.3 2.9 2.2 2.3 AS
Slide 17: Interest and Dividend Income
Interest and Dividend Income For personal use only • Increase in interest DEC 09 JUN 10 DEC 10 (1H10) (2H10) (1H11) income attributable $ Million $ Million $ Million to higher average Interest Income short-term cash ASX Group (excluding ASXCC Group) 2.1 3.5 6.0 ASXCC Group 3.8 3.4 4.2 rates and high
Slide 18: Dividends Paid to Shareholders
Dividends Paid to Shareholders For personal use only • Dividend – 90% of underlying NPAT, fully franked • Interim dividend – 90.2 cps, up 1.2% on pcp • Dividend Reinvestment Plan not offered for interim dividend 250.0 Capital Return Final Dividend 200.0 Interim Dividend 58.5 Cents per Share 150.0 93
Slide 19: Balance Sheet
Balance Sheet For personal use only Variance 30 JUN 10 31 DEC 10 Favourable / (Unfavourable) $ Million $ Million $ Million % Cash and Available-for-Sale Financial 3,716.8 3,365.2 (351.6) (9.5%) Assets Goodwill 2,262.8 2,262.8 - - Other Assets 641.2 492.8 (148.4) (23.1%) Total Assets 6,620.8 6,120.8
Slide 20: Capital and Liquidity Position
Capital and Liquidity Position For personal use only ASX Group Equity ASX Group Cash Net Tangible Equity v Risk-Based Capital ASX Own Cash v Cash-Backed Requirements Attribution 900 900 800 800 700 700 600 600 $ Million $ Million 500 500 400 400 300 300 200 200 100 100 0 0 31 31 Dec 30 31 31 Dec 09
Slide 21: Post Balance Date Activity
Post Balance Date Activity For personal use only Robert Elstone Managing Director and CEO
Slide 22: Post Balance Date Activity
Post Balance Date Activity For personal use only Post balance date period eventful at home and abroad (events of biblical proportions) Australia • All Ordinaries Index up 3.6% since 31 December 2010 • Uplift in Feb (over Jan11) equity trading volumes in Australia • Low volatility in Australian equit
Slide 23: Post Balance Date Activity
Post Balance Date Activity For personal use only • Activity levels for 1 January 2011 to 15 February 2011 – Cash markets average daily traded value $4.9 billion (up 1.3% on same period last year) – ASX 24 derivatives average daily volume 301,661 contracts (up 14.7%) – ASX derivatives average daily v
Slide 24: Questions
For personal use only Questions Questions
Slide 25: ASX Limited - 2011 Half-Year Results
For personal use only ASX Limited - 2011 Half-Year Results Robert Elstone, Managing Director and CEO Peter Hiom, Deputy CEO Ramy Aziz, Chief Financial Officer 17 February 2011