Investors Presentation Q3 2019 I.D. Meitav Dash Total Bond - - PowerPoint PPT Presentation
Meitav Dash Investments LTD Investors Presentation Q3 2019 I.D. Meitav Dash Total Bond Shareholders Assets Under Rating Equity Management 135 135 858 858 A1 Shares BRM, NIS Million NIS Billion held by 29% the public, 40% As at
Meitav Dash Investments LTD
At least
Dividend Distribution Policy
NIS Billion
Total Assets Under Management
As at 30/9/19
NIS Million
Shareholders Equity
As at 30/9/19
Bond Rating
NIS Million
Market Value In the TA-125 Index
BRM, 29% Zvi Stepak, 28% Other Shares held by the public, 40%
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As at 14/11/2019 As at 30/9/2019
Asset Management Activities
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Mutual Funds& ETFs
Provident, Study and Pension Funds
Portfolio Management
Additional activities
AUM as at 30/9/19 in NIS Billion
Provident Funds, Study Funds and Pension Funds 55.4 ETFs 22.8 Mutual Funds 35.4 Portfolio Management 19.6 Other 1.8
NIS Billion
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As at 30/9/19 Other = Mutual Funds under hosting and distribution arrangements
SME Credit- Peninsula 9% Long Term Savings (LTS) 36% Short Term Savings (STS) 38% Trade & Brokerage 11% Other 6% SME Credit - Peninsula 17% Long Term Savings (LTS) 22% Short Term Savings (STS) 43% Trade & Brokerage 13% Other 5%
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 Q3 2019 38 Profit before tax 24 Depreciation and amortization 3 Financing expenses, net 65 EBITDA
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Q3 2019 Q2 2019 Q1 2019 Q3 2018 2018 Revenues* 223 233 246 231 887 Expenses 173 173 181 175 688 EBITDA 65 78 80 67 235 Normalized EBITDA 67 79 80 65 235 Profit for the period 27 23 32 25 77 Profit attributed to the shareholders 22 19 29 22 67
*Including Nostro. In NIS Million
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10 10 10 10 15 10 10 10 10 10 10 10 15 10 10 15 15 14 15 2 4 6 8 10 12 14 16
2015 2016 2017 2018 2019
Q1 Q2 Q3 Q4
45
NIS Million
45
NIS Million
45
NIS Million
49
NIS Million
Annual
Long Term Vision
Increased Diversification
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 11.2 Billion Over 10,000 new employers* Over 300K customers International Reinsurers
as at 30/9/2019 *Since chosen the second time as an MOF “selected pension fund”
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5.6 10.2 13.4 15.6 24.2 25.9 34 40.8 43.2 60 Q1-Q3 2015 Q1-Q3 2016 Q1-Q3 2017 Q1-Q3 2018 Q1-Q3 2019
Revenue Net Profit
provides credit to small and medium sized companies in Israel
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Lotus Investment Group: Lotus manages credit portfolios for SMEs (Small & Medium Enterprises) in the fields of real estate entrepreneurship and investments. Lotus was established in Ireland and has been
The credit portfolios consist mostly of real estate developers' loans, alongside some smaller bridging loans to finance built-up real estate assets. The loans are typically given for average periods of 12-24 months. Meitav Dash holds 45% of Lotus' capital acquired for €5.4 million. Meitav Dash has pledged to invest up to €16.8 million in the Lotus credit portfolio.
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Liquidity Capital
Pagaya
Fund which specializes in the acquisition of future revenues
Fund which specializes in retail credit in the US Fund which is engaged in the acquisition and management of real estate in the US, in cooperation with Harbor Group
Real Estate Fund Reigo
Specializes in providing collateralized loans for the purchase
to minimize risk
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tender for the second time
houses, with assets of over NIS 11.2 billion and annual deposits of over NIS 2 billion
2018 Q3 2018 Q1 2019 Q2 2019 Q3 2019 50.9 52.6 53.5 54.7 55.4 AUM in NIS Billion 320 80 79 79 79 Revenue in NIS Million 0.62% 0.61% 0.60% 0.58% 0.57% Annualized Management Fees 42 8 10 17 11 Operating Profit in NIS Million
NIS Billion
22.1 22.1
Provident Funds Study Funds Pension Funds
AUM Market Share
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22.1 22.1 11.2 11.2
As at 30/9/19
annual revenues of over NIS 12 million
merger of Meitav Dash Mutual Funds and Tachlit Indices has been completed and is presented together with portfolio management in the short-term savings segment
Management (“Robo Advisor”) from NIS 25,000
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2018 Q3 2018 Q1 2019 Q2 2019 Q3 2019 72.4 76.7 75.7 77.3 77.8 AUM in NIS Billion 336 96 86 86 85 Revenue in NIS Million 117 40 31 30 30 Operating Profit in NIS Million
NIS Billion
AUM ETFs
NIS Billion
AUM Mutual Funds
NIS Billion
AUM Portfolio Management
As at 30/9/19
digital account enabling a quick and efficient
tools
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2018 Q3 2018 Q1 2019 Q2 2019 Q3 2019 105 25 31 25 24 Revenue in NIS Million 33 6 11 8 9 Operating Profit
Of the trading turnover in shares and bonds on the Tel Aviv Stock Exchange
NIS Billion Customer Assets
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As at 31/12/18 As at 30/9/19 460 524 Cash and short-term investments 973 1,038 Other current assets 1,433 1,562 Total current assets 200 260 Long term investments 1,211 1,337 Fixed assets and intangible assets 20 15 Deferred taxes 2,864 3,174 Total assets Net Debt to EBITDA excluding Peninsula Net debt excluding Peninsula 1.2X 297 As at 31/12/18 As at 30/9/19 573 634 Credit from banks and others 10 51 Liabilities for short sale of securities 389 251 Trade and other payables 972 936 Total current liabilities 97 90 Loans from banks 669 770 Debentures 176 317 Other long term liabilities 825 858 Equity 125 203 Non-controlling interests 2,864 3,174 Total liabilities and equity
Amounts in respect of ETNs
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2018 Q3 2018 Q1 2019 Q2 2019 Q3 2019 829 216 217 209 206 Revenue from management fees, commissions and other 61 15 18 21 21 Revenue from Peninsula 890 231 235 230 227 Total revenue 688 175 181 173 173 General and administrative expenses, marketing, sales, and financing expenses from non bank credit 202 56 54 57 54 Operating income (3)
3 (4) Profit (loss) from securities held for investment purposes in nostro portfolio (36) ) 8 ( (5) ) 17 ( (3) Financing expenses, net (33) ) 8 ( (12) ) 10 ( (11) Other expenses, net 3 1 1 2 2 Company's share in earnings in equity accounted investees 133 41 49 35 38 Profit before taxes on income 56 16 17 12 11 Taxes on income 77 25 32 23 27 Profit for the period 67 22 29 19 22 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