Investors Presentation Q2 2019 I.D. Meitav Dash Total Bond - - PowerPoint PPT Presentation
Meitav Dash Investments LTD Investors Presentation Q2 2019 I.D. Meitav Dash Total Bond Shareholders Assets Under Rating Equity Management 134 134 848 848 A1 Shares BRM, NIS Million NIS Billion held by 29.01% the public, 39.98%
Meitav Dash Investments LTD
At least
Dividend Distribution Policy
NIS Billion
Total Assets Under Management
As at 30/6/19
NIS Million
Shareholders Equity
As at 30/6/19
Bond Rating
NIS Million
Market Value In the TA-125 Index
BRM, 29.01% Zvi Stepak, 28.07% Shares held by the public, 39.98%
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As at 30/6/19 As at 30/6/19
Asset Management Activities
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Mutual Funds
ETFs
Provident, Study and Pension Funds
Portfolio Management
Additional activities
AUM as at 30/6/19 in NIS Billion
Provident Funds, Study Funds and Pension Funds 54.7 ETFs 22.5 Mutual Funds 35.5 Portfolio Management 19.3 Other 2.0
NIS Billion
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As at 30/6/19 Other = Mutual funds under hosting and distribution arrangements
SME Credit- Peninsula 9% Long Term Savings (LTS) 34% Short Term Savings (STS) 37% Trade & Brokerage 11% Other 9% SME Credit - Peninsula 14% Long Term Savings (LTS) 25% Short Term Savings (STS) 36% Trade & Brokerage 9% Other 16%
Other = Insurance Agencies, Global Markets, Meitav Dash Loans, Alternative Investments, Nostro and other activities
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NIS Million
NIS Million
Revenues Normalized EBITDA
EBITDA Q2 2019 35 Profit before tax 26 Depreciation and amortization 17 Financing expenses, net 78 EBITDA
Effective January 2019, the Company applies the provisions of IFRS 16, which sets guidelines for the accounting treatment of leases, and records amortization and financing expenses in lieu of rent and car leasing expenses. After neutralizing the implementation of the Standard, the normalized EBITDA in Q2 2019 amounts to NIS 73 million
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Q2 2019 Q1 2019 Q2 2018 2018 Revenues* 233 246 222 887 Expenses 173 181 169 688 EBITDA 78 80 60 235 Normalized EBITDA 79 80 61 235 Profit for the period 23 32 15 77 Profit attributed to the shareholders 19 29 13 67
*Including Nostro. In NIS Million
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10 10 10 10 15 10 10 10 10 10 10 10 15 10 15 15 14 15 2 4 6 8 10 12 14 16 Q1 Q2 Q3 Q4 NIS Million
45
NIS Million
45
NIS Million
45
NIS Million
49
NIS Million
Long Term Vision
Decreasing Dependence on the Financial Markets
Revenue from Credit, Insurance, Trade, Brokerage, Alternative Investments and others
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Revenue from Asset Management activities
14% 86%
2015
23% 77%
2017
40% 60%
2020- 2022
26% 74%
2018
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Annual deposits of over NIS 2 Billion AUM over NIS 10.6 Billion Thousands of new employers joined the fund in 2017-19 Over 300K customers International einsurers First place in the Ministry of Finance Index of Service and Recommendation by Pension Customers in 2018
as at 14/8/19
3.6 5.9 8.6 9.7 15.4 16.4 22 26.6 27.5 38.8 H1 2015 H1 2016 H1 2017 H1 2018 H1 2019
Revenue Net Profit
provides credit to small and medium sized companies in Israel
Liquidity Capital
Pagaya
Fund which specializes in the acquisition of future revenues
Fund which specializes in retail credit in the US Fund which engaged in the acquisition and management of real estate in the US, in cooperation with Harbor Group
Real Estate Fund
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tender for the second time
houses, with assets of over NIS 10.6 billion and annual deposits of over NIS 2 billion
2018 Q2 2018 Q1 2019 Q2 2019 50.9 51.2 53.5 54.7 AUM in NIS Billion 320 80 79 79 Revenue in NIS Million 0.62% 0.63% 0.60% 0.58% Annualized Management Fees 42 11 10 17 Operating Profit in NIS Million
NIS Billion
22.1 22.1
Provident Funds Study Funds Pension Funds
AUM Market Share
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22.0 22.0 10.6 10.6
As at 30/6/19
annual revenues of over NIS 12 million
merger of Meitav Dash Mutual Funds and Tachlit Indices has been completed, From now on it is presented together with portfolio management in the short-term savings segment
Management from NIS 25,000
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2018 Q2 2018 Q1 2019 Q2 2019 72.4 73.9 75.7 77.3 AUM in NIS Billion 336 85 86 86 Revenue in NIS Million 117 32 31 30 Operating Profit in NIS Million
NIS Billion
AUM ETFs
NIS Billion
AUM Mutual Funds
NIS Billion
AUM Portfolio Management
digital account enabling a quick and efficient
tools
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2018 Q2 2018 Q1 2019 Q2 2019 105 26 31 25 Revenue in NIS Million 33 9 11 8 Operating Profit
Of the trading turnover in shares and bonds on the Tel Aviv Stock Exchange
NIS Billion Customer Assets
16
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As at 31/12/18 As at 30/6/19 460 479 Cash and short-term investments 973 998 Other current assets 1,433 1,477 Total current assets 200 232 Long term investments 1,211 1,360 Fixed assets and intangible assets 20 16 Deferred taxes 2,864 3,085 Total assets Net Debt to EBITDA excluding Peninsula Net debt excluding Peninsula 1.1 297 As at 31/12/18 As at 30/6/19 573 697 Credit from banks and others 10 40 Liabilities for short sale of securities 389 281 Trade and other payables 972 1,018 Total current liabilities 97 92 Loans from banks 669 633 Debentures 176 325 Other long term liabilities 825 848 Equity 125 169 Non-controlling interests 2,864 3,085 Total liabilities and equity
Amounts in respect of ETNs
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2018 Q2 2018 Q1 2019 Q2 2019 829 207 217 209 Revenue from management fees, commissions and other 61 14 18 21 Revenue from Peninsula 890 221 235 230 Total revenue 688 169 181 173 General and administrative expenses, marketing, sales, and financing expenses from non bank credit 202 52 54 57 Operating income (3) 1 11 3 Profit (loss( from securities held for investment purposes in nostro portfolio (36) ( 14 ) (5) ( 17 ) Financing expenses, net (33) ( 9 ) (12) ( 10 ) Other expenses, net 3
2 Company's share in earnings in equity accounted investees 133 30 49 35 Profit before taxes on income 56 15 17 12 Taxes on income 77 15 32 23 Profit for the period 67 13 29 19 Profit attributed to the shareholders
investors only. This presentation does not comprise an opinion, suggestion, recommendation, or advice / marketing for purchase and / or holding and /or sale of securities and / or financial assets (including securities of the Company and / or financial assets issued by Companies in the Meitav Dash Group). The presentation is not a substitute for advice / investment marketing or counseling / pension marketing that takes into consideration the special needs of each person.
reports published by the Company to the public. That shown is the opinion of the authors alone and reflects their understanding at the date of the
and / or future matters whose occurrence is uncertain and is not controlled by the Company. Information in connection with a forecast of revenues and profitability, are all forward-looking statements as defined in the Securities Law, 1968, that is based on the subjective assessments of the Company’s management based on data and information held by the Company at the date of preparation of the presentation. Realization or non-realization of forward-looking statements will be affected by, among other things, risk factors characterizing the activity of the Company and, developments in the general environment and external factors affecting the activity of the Company, which cannot be estimated in advance and are not under the control of the Company. The Company’s operating results may differ materially from estimated or implicit results stated in the presentation.
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MEITAV DASH INVESTMENTS LTD www.meitavdash.co.il
Champion Tower, 30 Sheshet Hayamim, Bnei Brak Phone: 972-3-7903000 Fax: 972-3-7778001