Spheria Emerging Cos. Ltd. · ASX:SEC
Spheria Emerging Cos — FY2021 Earnings Presentation
16 slides from Spheria Emerging Cos's earnings presentation, Sep 8, 2021
Slide 1: Shareholder webinar reminder and presentation on full year results
Spheria Emerging Companies Limited (Company) Level 35, 60 Margaret Street Sydney NSW 2000 Telephone: 1300 010 311 Email: [email protected] ACN 621 402 588 For personal use only 8 September 2021 By Electronic Lodgement Market Announcements Office ASX Limited 20 Bridge Street Sydney NSW 20
Slide 2: Full-year FY2021 Results & Portfolio Update
For personal use only Spheria Emerging Companies Limited ASX: SEC Full-year FY2021 Results & Portfolio Update
Slide 3: Agenda
2 For personal use only Agenda 1. SEC Company update 2. Portfolio update 3. Questions
Slide 4: Full-year FY2021 Highlights
Full-year FY2021 Highlights 3 Strong results with Company performance up 55.5% For personal use only FY21 profit Company Yield (including Interim dividend Yield performance1 franking) $40.2m +55.5% 5.0c 3.5%2 4.8%3 • FY21 net profit after tax of $40.2m, a material turnaround from the net loss in FY2
Slide 5: NTA breakdown for FY21
NTA breakdown for FY21 4 30 June 2021 NTA 30% higher than IPO price of $2.00 For personal use only + $0.935 - $0.010 - $0.007 - $0.060 $2.599 $2.80 + $0.010 $2.60 $2.40 $2.20 $2.00 $1.731 $1.80 $1.60 $1.40 $1.20 $1.00 Pre-tax NTA Portfolio Tax provided Company Dividends Buy-back Pre-tax NTA 1 July 2
Slide 6: Dividends: FY21 final dividend of 5c, up 100% on FY20
5 Dividends FY21 final dividend of 5c, up 100% on FY20 For personal use only • Final dividend of 5.0 c per share. Full year dividends of 8.5 c, a dividend yield equal of 3.5% (4.8% including franking). • Total dividends since IPO of 24.0 cents per share Dividend History 6 FY21 Final Dividend 5 Final
Slide 7: Dividends: New 4% dividend target, paid quarterly
6 Dividends New 4% dividend target, paid quarterly For personal use only • Higher dividend: New target dividend yield of 4% of NTA p.a. (5.4% including franking) puts SEC in top half of Australian Equity LIC income payers • More regular dividend: Paid quarterly, for FY22, beginning in the September
Slide 8: Performance History
Performance History 7 FY21 Company performance up 55.5% For personal use only SEC Company performance Performance as at 31st July 2021 Since Inception Period 6 month 1 year 3 year (pa) Inception (pa) Date Company 15.4% 54.3% 11.4% 11.2% 30/11/2017 S&P/ASX Small Ordinaries Accumulation Index 11.8% 32
Slide 9: SEC Portfolio Performance
For personal use only 60.0% 0.0% 40.0% 70.0% -30.0% 10.0% 20.0% 30.0% -40.0% -20.0% -10.0% 50.0% 29-Nov-17 29-Dec-17 29-Jan-18 Source: Spheria Asset Management 28-Feb-18 31-Mar-18 30-Apr-18 31-May-18 Index Spheria 30-Jun-18 31-Jul-18 31-Aug-18 30-Sep-18 Relative Performance 31-Oct-18 30-Nov-18 31-De
Slide 10: SEC attribution over past 12m
9 SEC attribution over past 12m For personal use only Spheria Emerging Companies - Attribution - 12 Month - June 2021 6 5 4 3 2 1 0 -1 -2 Source : Bloomberg Data as at June 30 2021
Slide 11: Performance by Market Cap Sector
10 Performance by Market Cap Sector For personal use only Micro vs Small vs Large Caps 210 190 170 +42% 150 130 110 90 70 Small Cap Micro Caps ASX 100 50 06/2019 08/2019 10/2019 12/2019 02/2020 04/2020 06/2020 08/2020 10/2020 12/2020 02/2021 04/2021 06/2021 • Microcaps and small caps have outperform
Slide 12: Bifurcation in the market creates opportunities
11 Bifurcation in the market creates opportunities For personal use only No. of stocks with EV/ Sales > 10 300 250 200 150 100 50 0 07/2020 07/2021 07/2011 07/2010 07/2012 07/2013 07/2015 07/2016 07/2017 07/2019 07/2014 07/2018 07/1997 07/2001 07/2002 07/2003 07/2004 07/2005 07/2006 07/1996 07/1998
Slide 13: Monadelphous: Resources recovery not priced in
Monadelphous (ASX:MND) 12 Resources recovery not priced in. For personal use only Cash Flow Conversion (EBITA) EBITA vs Share Price 250.0 120% 250 $30.00 97% 200.0 100% 200 $25.00 80% $20.00 150.0 150 60% $15.00 100.0 100 40% $10.00 50.0 20% 50 $5.00 0.0 0% 0 $0.00 Jun-20 Jun-11 Jun-12 Jun-15 Jun-16
Slide 14: Company Positions
13 Company Positions For personal use only Spheria Emerging Companies as at 31st July 2021 Company Name % Portfolio Adbri Limited 4.8 Fletcher Building 4.5 Healius 4.0 City Chic Collective 3.6 Seven West Media Ltd 3.5 Flight Centre Travel 3.4 IRESS Limited 3.4 Monadelphous Group 3.4 Blackmores Limit
Slide 15: Questions
For personal use only Questions 14
Slide 16: Disclaimer
15 Disclaimer For personal use only Spheria Emerging Companies Limited ACN 621 402 588 (SEC) Spheria Asset Management Pty Ltd (ABN 42 611 081 326, Corporate Authorised Representative No. 1240979) (‘Spheria’) is the investment manager of Spheria Emerging Companies Limited ABN 84 621 402 588 (‘SEC or
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