Vunani Limited · JSE:VUN
Vunani — H1 2008 Earnings Presentation
9 slides from Vunani's earnings presentation, September 2008
Slide 1: 2008 Half Year Results
2008 Half Year Results Ethan Dube – Chief Executive Officer Guy Frawley – Chief Financial Officer September 2008 Contents • Half Year Overview • 2008 Half Year Financial Summary • Structure and Service Offering • Financial Overview • Outlook & Strategy • Investment Rationale 1
Slide 2: Half Year Overview and Financial Summary
Half Year Overview • A leading medium sized BEE financial services provider • Core financial services platform established • Concluded strategic acquisitions in Financial Services of: − Corporate Finance and Treasury businesses − Increased equity holding in Edge to 45% − IMI − Mion 2008 Half Year Fi
Slide 3: Structure and Service Offering
STRUCTURE AND SERVICE OFFERING Structure Financial Services Investment Services Asset Investment Properties Management Banking 3
Slide 4: Service Offering
Service Offering FINANCIAL SERVICES Core financial services platform established with objective to grow businesses organically: 1. Asset Management − Fund of funds – Hedge Funds via Edge with R6,5bn FUM (45%) − Private Equity Funds – VPE with R1,2bn FUM (25%, option for 50%) − Peregrine iQ with R14,
Slide 5: Service Offering (cont.)
Service Offering (cont.) FINANCIAL SERVICES 3. Properties − Core activities − Property development with R1bn pipeline − Property investment - R730m in 22 buildings − Investment in JHI/Gensec (property management) − Redefine BEE deal concluded Vunani offering (cont.) INVESTMENT SERVICES • BEE Related
Slide 6: Income Statements
FINANCIAL OVERVIEW Income Statements Unaudited Reviewed Audited 6 months 6 months 12 months Jun 08 Jun 07 Dec 07 R’000 R’000 R’000 Operating profit 25 439 23 291 86 264 Investment income 7 841 8 339 42 582 Fair value adjustments (338 919) 397 389 689 958 (Loss)/Profit before interest and taxation (3
Slide 7: Balance Sheets
Balance Sheets Unaudited Reviewed Audited 6 months 6 months 12 months Jun 08 Jun 07 Dec 07 ASSETS R’000 R’000 R’000 Investment property & other 887 022 526 698 705 620 Investments & other 1 693 188 1 209 188 2 039 415 Current assets 284 811 305 997 283 744 Inventory 23 863 65 112 34 458 Trade and ot
Slide 8: Outlook & Strategy
OUTLOOK, STRATEGY AND INVESTMENT RATIONALE Outlook & Strategy • Focus on growing a diversified financial services group − Base established, increase income base organically − Grow annuity income base further through selective acquisitions in the financial services industry • Continue to take advanta
Slide 9: Investment rationale
Investment rationale • Strong Financial Services growth • Proven management (core team together for 10 yrs) • Established BEE Financial Services group • Diversified financial services platform • Opportunities – Secondary BEE market opportunities – Organic growth in existing Financial Services platfo