Bravura Solutions Limited · ASX:BVS
Bravura Solutions — FY2012 Earnings Presentation
25 slides from Bravura Solutions's earnings presentation, August 2012
Slide 1: Financial results for year ended 30 June 2012
INVESTOR PRESENTATION Financial results for year ended 30 June 2012 Tony Klim, Chief Executive Officer Rebecca Norton, Chief Financial Officer August 2012
Slide 2: Agenda
AGENDA Corporate overview Group highlights FY2012 financial results Market commentary Corporate strategy Operating divisions Summary PAGE | 2
Slide 3: Corporate Overview
GROUP HIGHLIGHTS CORPORATE OVERVIEW Bravura Solutions Ltd PAGE | 3
Slide 4: Corporate Overview
CORPORATE OVERVIEW Bravura Solutions is a leading global supplier of wealth management and transfer agency applications, delivered on premise or on demand. > Operations across > Employees > FUM Australia Over 700 employees More than *A$1.35 New Zealand located in 16 offices trillion in funds
Slide 5: Core Business
CORE BUSINESS Implement, support and maintain data record keeping software and managed services across Transfer Agency and Wealth Management divisions > Transfer Agency > Wealth Management Management of all aspects of End-to-end processing record keeping and reporting capability facilitating in
Slide 6: Our Offering
OUR OFFERING eBusiness Web Portal Business Services Life insurance Investment / Superannuation Corporate Private wealth Transfer trust / wrap superannuation & portfolio agency Individual life insurance administration Master trusts Retail super master trusts SICAVs / SICAFs and FCPs Corporate super M
Slide 7: Group Highlights
GROUP HIGHLIGHTS GROUP HIGHLIGHTS GROUP HIGHLIGHTS Bravura Solutions Ltd Bravura Solutions Ltd PAGE | 7
Slide 8: Group Highlights
GROUP HIGHLIGHTS Improved financial position EBITDA growth from $19.0m to $23.2m – a 22% increase Sales revenue growth from $120.7m to $126.6m – a 5% increase Operating cash flow improved from $16.0m to $20.7m – a 29% increase Strong client sales, retention and maintenance Five new contr
Slide 9: FY2012 Financial Results
FY2012 FINANCIAL GROUP HIGHLIGHTSRESULTS FY2012 FINANCIAL RESULTS Bravura Solutions Ltd Bravura Solutions Ltd PAGE | 9
Slide 10: FY2012 Financial Performance
FY2012 FINANCIAL PERFORMANCE FY12 % change FY11 FY12 constant constant % change $Am actual actual currency1 currency1 actual Revenue2 120.7 126.6 131.5 9 5 Expenses 101.7 103.4 106.8 (5) (2) EBITDA3 19.0 23.2 24.7 30 22 Net profit / (loss) after tax (21.1) 5.4 6.0 128 126 Operating cash flow 16.0 20
Slide 11: Key Results Indicator
KEY RESULTS INDICATOR FY12 PAGE | 11
Slide 12: Revenue Summary
>» REVENUE SUMMARY Revenue by Region ($Am) EMEA 84.3 APAC 36.4 FY11 Revenue by Division ($Am) GWM 43.8 GTA 76.9 PAGE | 12 FY11 Revenue by Business Line ($Am) Other 0.2 Other 0.2 Licence Fees Licence Fees 7.2. 33 EMEA 90.6 Prof. Services Prof. Services 52.0 55.1 APAC 36.0 FY12 Maint. 65.2 Maint. 64.1
Slide 13: Cost of Operations
COST OF OPERATIONS R&D spend increased in FY2012 with continued investment in products Total costs per FTE reduced by 17% Continued focus on discretionary cost management Higher professional staff utilisation generating margin improvements Implemented new data centre facilities for UK mana
Slide 14: Balance Sheet
BALANCE SHEET $Am Jun-11 Jun-12 Positive net current asset position ASSETS excluding debt facilities Cash 3.7 4.6 Other current assets 31.7 38.0 Intangibles continued to amortise Intangible assets 121.0 114.9 with no impairment for FY2012 Other non-current assets 17.4 22.8 Borrowing includes f
Slide 15: Funding Profile
FUNDING PROFILE Facility limit Draw down Due (m) value (m) date Working capital facility AUD revolving tranche facility $8.3 $0.0 Dec-12 GBP revolving tranche facility £3.5 £0.0 Dec-12 Amortising term facility AUD term tranche facility $3.9 $3.9 Dec-12 GBP term tranche facility £11.4 £11.4 Dec-12 To
Slide 16: Market Commentary
MARKETHIGHLIGHTS GROUP COMMENTARY MARKET COMMENTARY Bravura Solutions Ltd Bravura Solutions Ltd PAGE | 16
Slide 17: Growth Opportunities APAC EMEA
GROWTH OPPORTUNITIES APAC EMEA Regulatory change relating to Regulatory change relating to enforcement of Australia’s Future of enforcement of UK Retail Distribution Financial Advice (FoFA) and Review (RDR) driving revenue from continued rollout of Australia’s product configuration, development
Slide 18: Corporate Strategy
CORPORATE GROUP STRATEGY HIGHLIGHTS CORPORATE STRATEGY Bravura Solutions Ltd Bravura Solutions Ltd PAGE | 18
Slide 19: Corporate Strategy
CORPORATE STRATEGY Accelerated adoption of Sonata as wealth management application of choice for APAC and EMEA Greater focus on Asia growth strategy catering to increased levels of demand for life insurance applications Develop managed services model in APAC to replicate EMEA success Enhance
Slide 20: Operating Divisions
DIVISIONS GROUP HIGHLIGHTS OPERATING DIVISIONS Bravura Solutions Ltd Bravura Solutions Ltd PAGE | 20
Slide 21: Transfer Agency Overview
TRANSFER AGENCY OVERVIEW > Key clients > Environment Bank of New York Mellon Macro economic stability continuing to JP Morgan build in Europe Lloyds Banking Group TA products support over *A$1.3 trillion Schroders in assets under management Legal & General 3 of out of top 5 UK fund m
Slide 22: Wealth Management Overview
WEALTH WEALTHMANAGEMENT MANAGEMENT OVERVIEW > Key clients > Environment Russell Investments WM products support over *A$65 billion Partners Life in funds under management Perpetual Largest provider of New Zealand Northern Trust KiwiSaver BaoViet Life Increasing level of interest as e
Slide 23: In Summary
IN SUMMARY GROUP HIGHLIGHTS IN SUMMARY Bravura Solutions Ltd Bravura Solutions Ltd PAGE | 23
Slide 24: In Summary
ININ SUMMARY SUMMARY Bravura Solutions Ltd FINANCIAL Strong sales revenue, EBITDA and net profit growth Solid and continuously improving cash position CLIENT Strong long-term relationships with blue chip clients Driving new business with key industry players Introduce managed services mode
Slide 25: Committed to growth – Thank you
INVESTOR PRESENTATION Committed to growth Thank you Bravura Solutions Limited 15 111 148 826