Computershare - 500 Beiträge pro Seite

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habe den alten Thread: Computershare - HV-Dienstleister und mehr seit 3 Jahren nicht mehr bepostet, die Aktien aber behalten und sogar einmal aufgestockt;

unter dem Strich hat der Kurs nicht viel gewonnen, aber die zugrundeliegende Profitabilität ist weiter sehr gut

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Präsi zu den Jahresergebnissen: http://www.computershare.com/News/Jahresergebnis-Pr%C3%A4sen…

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Antwort auf Beitrag Nr.: 47.695.011 von R-BgO am 04.09.14 15:54:42

=> der Buchwert je Aktie ist von 2008 bis 2014 mit 7,8% p.a. gewachsen, dazu gab es immer rund 2-2,5% Dividende

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Computershare misses guidance and says there is worse to come

August 12, 2015

Shaun Drummond
Reporter


Computershare chief Stuart Irving says the world's biggest share registry needs to expand into new areas like loan origination in the US, but concedes the group is battling multiple macroeconomic setbacks.

It forecast a further 7.5 per cent fall in earnings for 2016 as it reported underlying net profit for 2015 had edged 0.7 per cent lower to $US332.7 million ($456 million), missing its own guidance of "modestly higher" earnings.

Mr Irving said the US dollar had continued to strengthen and interest rates had remained at record lows for longer than expected. These negative influences are expected to get worse.

The stock closed Wednesday down 9.32 per cent to $10.61.


Statutory net profit for the year ended June 30 totalled $US153.6 million, down 39 per cent from a year earlier. The drop stemmed from one-off costs including various sales and acquisitions of businesses around the world.

Revenue fell 3.2 per cent to $1.98 billion from $2.05 billion. The company also said it expects rising costs because of "product and efficiency initiatives".

Computershare reports in US dollars, so if the greenback rises against the currencies of countries where it earns income, its profits will reduce. The company also held about $US15 billion in cash over the year. Global interest rates have not risen off their record lows as yet. Canada even unexpectedly lowered its cash rate earlier in 2015.

Corporate activity is an important contributor to its earnings. Mr Irving said while the level of corporate transactions, including IPOs and company takeovers, has picked up globally, the majority of its income from this source comes from the yield Computershare gets on cash it holds for buyers and sellers.

"[In 2016] we expect [the] underlying business trends to be broadly in line with 2015, however the translation impact of a stronger US dollar, and the anticipated lower yields on client balances, are again expected to be significant headwinds," Mr Irving said.

Analysts and investors did not expect strong growth in 2015, but were surprised at the 2016 forecast.

Commonwealth analyst Ross Curran, however, said the market should have already priced in the outlook.

"Most of what management told you on interest rates and forex – you could work most of that out yourself," he said. "Consensus estimates had growth in FY16 at 3 per cent. We already had it down 5.5 per cent.

"[But], I think the core business is eroding away because they continue to lose market share."

Mr Irving said he has been working with its new chief information officer to improve the way it innovates, including doing IT development faster – which is an important way it removes costs from the business.

"As a former CIO, it can be pretty frustrating looking at enhancement requests and how much value that will truly add. Over the last 12 months I have worked with our present CIO about how we change the culture and attitude to delivery. We do [now] have a fairly exciting program around innovation."

Mr Irving said Computershare's traditional growth path via acquisition would remain hard to come by in its share registry. But following the acquisition of the largest third party mortgage manager in Britain, HML, he said there are more growth opportunities in this sector.

Computershare wants to partner with the many small banks in the US to offer "warehousing" services for loan origination. "In the US there is an awful lot of regional banks [and] we are looking at how can we take on the origination, warehouse it and take that into the market."

An investor said the main problem was the company was "struggling" to carry out its new growth strategies. "Their cost control has been good, but the underlying business is flat and I would put that down to poor management frankly."

Computershare is facing tougher competition in its home market as Link Group prepares to list after the reporting season. Mr Irving pointed out Australia accounts for just 10 per cent of Computershare's revenue, but it has spent the past nine months beefing up the skills of its sales force to make sure it keeps existing customers and gains new ones. "All the data measurement we do in operations to streamline our operations, we are moving the same theory in to our front office."

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http://seekingalpha.com/article/3988478-computershare-well-k…

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Kurs ist auf ATH

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solid results for 2017/2018

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Capital Markets Day:

https://www.computershare.com/News/1931443.pdf