Team Plc · LSE:TEAM
Team — FY2023 Earnings Presentation
14 slides from Team's earnings presentation, March 2024
Slide 1: Results for the year ended 30 Sep'23
Results for the year ended 30 Sep’23 March 2024
Slide 2: Contents
Contents 3 Introduction 5 Strategy update 10 Financial results 2
Slide 3: Business overview
Business overview Overview Client assets1 • TEAM plc is a Jersey-headquartered wealth, asset management and complementary financial services group founded by Mark Clubb £1.15bn • TEAM listed on the AIM market in March 2021. Largest shareholders include Strategic Ventures Pvt Europe (20.7%), followed
Slide 4: Group development
Group development 2019 Now AUM = £140m AUM/A = £1.15bn1 IPO of TEAM plc Omega Fundraise Globaleye HBFS2 March 2021 December 2021 May 2022 June 2023 December 2023 Admission to trading Jersey personal £2.7m to fund Dubai-based boutique advisory Jersey-based financial on AIM raising £7.5m financial adv
Slide 5: Strategy update
Strategy update TEAMp\lc
Slide 6: Overview & highlights
Overview & highlights Overall Investment management Advisory • Continued operational progress in Jersey • AUM up 24% YOY to £289m (Feb’24: £327m) • AUA up 15% YOY to £365m (Feb’24: £370m) • Expansion outside Jersey home market into • Investment performance continues to be strong • Client retention k
Slide 7: Operations highlights
Highlights YOY1 Revenue Investment Total Advisory TEAM Intl. £5.3m £3.0m management £1.0m £1.3m revenue revenue revenue revenue +152% +178% (7%) n.a. Earnings Adjusted Profit before Adj. EBITDA (£0.7m) (3.1p) £(0.7)m EPS tax +13% +26% +53% AUM/A Net inflows £92m Total AUM £289m Total AUA2 £365m Tota
Slide 8: MPS investment performance
MPS investment performance Period to 29 Feb'24 3 month 1 year 3 year 5 year Multi Asset Growth 6.86% 8.68% 14.38% 39.66% High risk MPI High Risk 6.08% 7.74% 12.45% 31.28% Outperformance 0.78% 0.94% 1.93% 8.38% Multi Asset Balanced 6.46% 7.44% 13.36% 24.76% Medium risk MPI Medium Risk 4.08% 5.17% 7.2
Slide 9: TEAM International
TEAM International Services Highlights • Personal financial planning o Tax efficient Savings and Investments £319m 5 offices £3.4m o Trusts and IHT planning Consideration o Portfolio management AUA as of Feb’24 5 regulatory licenses (ex earn-out) Distribution • 58 predominantly self-employed adviser
Slide 10: Financial results
Financtal results TEAMplc
Slide 11: P&L
P&L Year ended 30 September Commentary (£m) FY22 FY23 % change Revenue 2.2 5.3 152 • Revenue increased from £2.2m to £5.3m (+152%) Cost of sales (0.4) (0.9) 121 driven by: Operating expenses (3.3) (6.5) 98 o Increase in advisory revenues from £1.3m to Operating profit/(loss) (1.6) (2.1) (33) £3.0m (
Slide 12: Segmental reporting
Segmental reporting FY23 Year end 30-Sep (£m) Investment management Advice TEAM International Central costs Total Group Revenue 1.0 3.0 1.3 - 5.3 Cost of sales (0.4) - (0.5) (0.1) (0.9) Operating expenses (1.4) (2.1) (1.0) (0.6) (5.1) Underlying PBT (0.8) 0.9 (0.2) (0.7) (0.7) AUM/A 289 365 180 - 83
Slide 13: Cash flows and balance sheet
Cash flows and balance sheet Cash flows Balance sheet £’000 FY23 FY22 £’000 FY23 FY22 Cash flows from operating activities Non-current assets Loss for the year before tax (673) (1,588) Intangible assets 12,191 9,276 Adjustments to cash flows from non-cash items: Property, plant & equipment 654 737 D
Slide 14: TEAM investment thesis
TEAM investment thesis Exposure to blend of stable and high growth markets Jersey long term savings is very stable, while International markets offer high growth and are rich in opportunities Platform now in place, focus turns to organic growth We have built a stable investment management capability