Whitefield Industrials Limited · ASX:WHF
Whitefield Industrials — Shareholder Meeting (August 2022)
18 slides from Whitefield Industrials's shareholder meeting presentation, Aug 11, 2022
Slide 1: Annual General Meeting August 2022
For personal use only ANNUAL GENERAL MEETING August 2022
Slide 2: Introduction
For personal use only Introduction Angus Gluskie Lance Jenkins Mark Beardow Chairman Director Director Jenelle Webster Will Seddon Stuart Madeley Director Director Co. Secretary 2
Slide 3: Instructions for online attendees: Questions
For personal use only Instructions for online attendees: Questions • To ask a written question select the Q & A icon • Select the topic your question relates to from the drop- down list • Type your question in the text box and press the send button • To ask a verbal question, follow the instructions
Slide 4: Instructions for online attendees: Voting
For personal use only Instructions for online attendees: Voting (if not already submitted by proxy) NB If you have already voted by proxy you will not need to submit a vote online, as your proxy vote has already been submitted. However, for those still needing to vote: • When the poll is open, selec
Slide 5: Whitefield's approach to investing
_Whitefield’s approach to investing For personal use only Angus Gluskie Chairman Quantitative, Industrials Index Aware Unbiased Whitefield invests in Australian “Industrial” Our strategy is to invest in a wide range of We utilize an index aware portfolio businesses whose likely earnings are structur
Slide 6: 99 years of continuous operation
For personal use only _99 years of continuous operation highlights the benefits of long term thinking for investors _Exposure to the Australian economy through a diversified share portfolio has assisted our shareholders by providing them with income and capital growth across a wide range of economic
Slide 7: 2022 Financial Year
For personal use only _2022 Financial Year 7
Slide 8: 2022 Results: Earnings
_2022 Results: Earnings For personal use only Angus Gluskie Chairman Earnings Per Share [cents] _EPS +60% (excl reset gain) • Driven by an easing of COVID restrictions 17.79 18.46 17.76 during 2021 and broadly based strength of economic activity into 2022 14.3 • Not yet fully back to pre-COVID level
Slide 9: 2022 Results: Earnings
_2022 Results: Earnings For personal use only Angus Gluskie Chairman _ Positive earnings contributions from multiple dimensions • 7 month contribution from new capital raised, full benefit in FY23 • Preference share reset delivering continued yield to WHFPB holders, cost savings to ORDs • Income gro
Slide 10: 2022 Results: Dividends
_2022 Results: Dividends For personal use only Angus Gluskie Chairman Dividends Per ORD Share (cents) Long Term Earnings & Dividends Per Share 20.50 20.50 20.50 19.75 17.75 EPS DPS FY18 FY19 FY20 FY21 FY22 _Year-End Dividend • WHF Ordinary : 10.25 cents Jun 22 • WHFPB: 131.25 cents Jun 22 • All full
Slide 11: 2023 Outlook: 100th Year of WHF operations
_2023 Outlook: 100th Year of WHF operations For personal use only Angus Gluskie Chairman Underlying economic activity is currently firm and should support profit and dividend growth for many business sectors across the next year Strong • Employment and demand for workers particularly strong fundamen
Slide 12: FY2022: Investment Performance
_FY2022: Investment Performance For personal use only Will Seddon Director 12% FY2022 consisted of two differentiated market 10% phases • A strong rally in mid 2021, where the broad industrials 8% index benefitted slightly more than the Whitefield 6% portfolio from takeovers and covid recovery surpr
Slide 13: FY2022: Investment Performance
_FY2022: Investment Performance For personal use only Will Seddon Director Returns over 3, 5 and 10 years were Returns to 31 Mar 2022 1 Yr 3 Yr pa 5 Yr pa 10 Yr pa strong in outright terms and tightly Before Tax Returns controlled vs benchmark Whitefield Portfolio 10.36% 9.24% 7.01% 10.99% • Across
Slide 14: 2023 Outlook
For personal use only _2023 Outlook Large macro drivers Wide range of potential outcomes 14
Slide 15: Inflation & Interest Rates: how long can consumer strength last?
_Inflation & Interest Rates: how long can For personal use only consumer strength last? Will Seddon Director _Scale and timing of affects uncertain Many multi-decade drivers of deflation are exhausted and new drivers of inflation are emerging. Interest rates are currently low compared to inflation –
Slide 16: Climate Change: the current approach is inadequate and has perverse effects
_Climate Change: the current approach is For personal use only inadequate and has perverse effects Will Seddon Director Energy-related greenhouse gas emissions, 2000-2021 (IEA) _Expect further material and rapid change Current approach is falling short: • Polluters are incentivized to greenwash resu
Slide 17: Geopolitics: Russian invasion is another persistent contributor to inflation
_Geopolitics: Russian invasion is another For personal use only persistent contributor to inflation Will Seddon Director _Approach to sanctions may need to change Shares of seaborne market in key commodities (OEC, 2020) • Increased Russian income – ability to fund Crude & Refined Petroleum Gas Coal
Slide 18: Strategy and current positioning: emphasising emerging themes
_Strategy and current positioning: For personal use only emphasising emerging themes Will Seddon Director _Whitefield’s systematic approach seeks to Industry Exposures (%), 30 June 2022 identify and respond to emerging change Banks 0.60 efficiently across a wide breadth of stocks Consumer Staples 0.
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