Whitefield Industrials Limited · ASX:WHF
Whitefield Industrials — Whitefield — Shareholder Meeting (July 2016)
19 slides from Whitefield Industrials's shareholder meeting presentation, Jul 28, 2016
Slide 1: AGM Whitefield Limited July 2016
For personal use only AGM WHITEFIELD LIMITED JULY 2016 0
Slide 2: Important Information
IMPORTANT INFORMATION For personal use only General, Limited Commentary: This presentation contains information about Whitefield and the markets in which it operates. The presentation is limited in scope and accordingly may not contain all the information necessary for an investor to make an investm
Slide 3: Whitefield Primary Attributes
WHITEFIELD PRIMARY ATTRIBUTES: For personal use only Holders of Whitefield’s Ordinary Shares have received regular dividends and growth in the capital value of their investment over many Founded in 1923, Whitefield has decades. An investment of $10,000 in Whitefield in 1970 would have been a long hi
Slide 4: Whitefield Primary Attributes: Efficient Structure
WHITEFIELD PRIMARY ATTRIBUTES: For personal use only Whitefield’s Board contains a majority of independent directors and explicitly Whitefield’s operating structure focuses on prudential control and review of the company’s operations. seeks to emphasise the The company’s Investment Team, Accounting
Slide 5: Whitefield's Investment Strategy
WHITEFIELD’S INVESTMENT STRATEGY A SYSTEMATIC PROCESS DESIGNED TO DELIVER STRENGTH OF RETURN WITH RELATIVELY LOW RISK For personal use only Whitefield seeks to own a portfolio of attractively priced, high-quality businesses with a proven or strengthening ability to deliver shareholder value. We util
Slide 6: 2016 Outcomes: Earnings & Asset Backing
2016 OUTCOMES EARNINGS & ASSET BACKING For personal use only Earnings per share amounted to 16.6 cents in 2016. Investment income at a per share level was similar to the prior year at 16.6 cents. Underlying growth in dividends was strong with dividend increases received from the majority of Investme
Slide 7: An Efficient Structure
AN EFFICIENT STRUCTURE COST / RETURN / SERVICE BALANCE For personal use only WHITEFIELD AIMS TO OFFER AN EFFICIENT BALANCE BETWEEN COST, RETURN AND SERVICE Whitefield’s Management Expense ratio (MER) MER has remained at approximately 0.35% across the last year. Whitefield continues to provide retail
Slide 8: 2016 Outcomes: Dividends
2016 OUTCOMES DIVIDENDS For personal use only WHF declared / paid fully franked dividends of 17.0 cents per ordinary share for 2016. Having maintained its ordinary dividend at pre-Global Financial Crisis levels for some years, WHF’s EPS (Earnings per share) are now at a similar level to DPS (Dividen
Slide 9: Recent Outcomes: Investment Returns
RECENT OUTCOMES INVESTMENT RETURNS For personal use only Outright Returns: A softer year, after 3 very strong years Returns v Index: Returns ahead of industrials benchmark over short and long terms Industrials Tilt: Returns ahead of broad ASX200 over short and long terms Gross of Franking: Returns h
Slide 10: Recent Outcomes: Investment Returns
RECENT OUTCOMES INVESTMENT RETURNS For personal use only 9
Slide 11: Recent Outcomes: Investment Returns
RECENT OUTCOMES INVESTMENT RETURNS For personal use only WHF Share Price & Div Outperformance • Reflecting the benefit from narrowing of price and asset backing differential over 30 years • Accumulated value 63% higher than ASX200 Long and medium term benefit from Industrials tilt • Underlying portf
Slide 12: Portfolio: WHF's Portfolio Summary
PORTFOLIO For personal use only WHITEFIELD LTD WHF’S PORTFOLIO PORTFOLIO SUMMARY AS AT 30TH JUNE 2016 The portfolio provides Value ($m): $411 Sector No. Holdings Weight exposure to both large Consumer and mid capitalisation No. Holdings: 170 41 10.8% Discretionary stocks across many Stocks 30 Consum
Slide 13: Portfolio: WHF's Portfolio
PORTFOLIO For personal use only WHF’S PORTFOLIO Overweight & The portfolio carries approximately 60 overweight and underweight exposures relative to our Underweight underlying benchmark index providing a high degree of breadth through which we seek to deliver Exposures outperformance. 12
Slide 14: Price and NTA
PRICE AND NTA For personal use only As at 30 June 2016 Pre-Deferred Tax $4.59 Post-Deferred Tax $4.29 13
Slide 15: The Changing Nature of Australia
THE CHANGING NATURE OF AUSTRALIA A HIGHER GROWTH, AFFLUENT ECONOMY For personal use only Australia is steadily emerging as an affluent, high growth economy, better positioned than many other larger, yet mature countries • Australia has become and is likely to remain a preferred country in which to l
Slide 16: The Changing Nature of Australia
THE CHANGING NATURE OF AUSTRALIA A HIGHER GROWTH, AFFLUENT ECONOMY For personal use only High population growth, relative affluence and high end corporate activity will see growth in housing, construction, tourism, education, aged care, retail, consumer services, business services, technology and fi
Slide 17: The Changing Nature of Australia
THE CHANGING NATURE OF AUSTRALIA A HIGHER GROWTH, AFFLUENT ECONOMY For personal use only These trends may continue for many decades, and are currently under- recognised within investment markets. • The position of Australia as a preferred living destination is likely to continue for many decades. Au
Slide 18: The Changing Nature of Australia
THE CHANGING NATURE OF AUSTRALIA A HIGHER GROWTH, AFFLUENT ECONOMY For personal use only Whitefield’s investment strategy and non-resource portfolio are designed to harness these long term trends for the benefit of our shareholders • Whitefield’s portfolio is not invested in the resource or energy s
Slide 19: Conclusion
CONCLUSION For personal use only 2016 was a year of transition - economically, politically and for Whitefield 2016 was a transitional year, both for markets and Whitefield. Whitefield took the opportunity to The Year in Review complete the broadening of its portfolio in this period. We have been ple