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Profile Report
www.ibisworld.com.au | 03 9655 3881 | info@ibisworld.com
IBISWorld Company Report
Profile Report
Balance Date: 30 June 2011
Company Contact Details
Company Registered NameIOOF HoldingsLtd
Commonly Used Name IOOF Holdings
Business Address Level 6, 161Collins Street,MELBOURNE,Victoria, 3000,Australia
Telephone Number 13 13 69
Facsimile Number 1800 558 539
Internet Address www.ioof.com.au
Company Details
Major Business LineK751 - Services toFinance and Investment
ACN Number 100 103 722
ASX Code IFL
Incorporated In Victoria
Incorporation Date 03-Apr-2002
Company Type Public Company
FY Balance Date 30-Jun-2011
Ownership Type Local, Non Government
IBISWorld Rank * 481
Introduction
IOOF Holdings Ltd is an Australian public financial services company that provides a broad range ofwealth management and trustee services. The company operates solely in Australia where it employsapproximately 980 staff and is headquartered in Melbourne. IOOF Holdings Ltd is listed on theAustralian Stock Exchange under the code IFL.
IOOF Holdings Ltd
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Company History & Background
2010 - August: IOOF Holdings Ltd has agreed to acquire the North Investment platform business fromAXA Asia Pacific Holdings Limited which is conditional on National Australia Bank's acquisition ofAXA.
2009 - June: IOOF sold recently acquired subsidiary, Intech Pty Limited, to Morningstar Australasiafor an undisclosed sum.April: IOOF Holdings merged with Australian Wealth Management.March: IOOF acquired the Intech and Skandia Australia businesses through the purchase of 100% ofOM Group (UK) Limited's Australian subsidiaries, Old Mutual, Old Mutual Australia Holdings and OldMutual Australia Ltd Old Mutual Group.
2006 - October: The Company secured 100% of Perennial Investment Partners.May: The Company secured 100% of Financial Partnership.
2005 - September: The Company acquired a substantial holding in STW Communications Group
Limited.April: The Company acquired a substantial holding in Caltex Australia Ltd.February: The Company acquired a substantial holding in Flight Centre.
2004 - May: The Company acquired a substantial holding in Just Group Limited.March: The Company acquired a substantial holding in Wadepack Limited.February: The Company acquired a substantial holding in Rebel Sport Limited.January: The Company acquired a substantial holding in Repco Corporation Limited.
2003 - December: The Company was listed on the Australian Stock Exchange.March: IOOF acquired the superannuation and investment business as well at the multi investmentmanager funds of AM Corporation Ltd.
2002 - The Company was demutualized and as a result, IOOF Holdings Ltd was incorporated.
1999 - IOOF's asset management company, Perennial Investment Partners Ltd was established as apartnership between the company and key investment professionals.
1846 - The Independent Order of Odd Fellows was established as a friendly society.
Financials
Balance Date 30-Jun-2011 30-Jun-2010 30-Jun-2009 30-Jun-2008 30-Jun-2007
Accounting Period Date 12 Months 12 Months 12 Months 12 Months 12 Months
Currency Units AUD000 AUD000 AUD000 AUD000 AUD000
PROFIT AND LOSS ACCOUNT
REVENUE ITEMS
Sales Revenue 627,730 636,122 283,028 276,855 205,550
Other Revenue 100,179 104,990 -5,440 127,294 272,643
Total Revenue 727,909 741,112 277,588 404,149 478,193
Cost of Goods Sold N/A N/A N/A N/A N/A
Depreciation 29,179 31,281 7,048 7,619 2,112
R&D Expenditure N/A N/A N/A N/A N/AINTEREST
Interest Received 11,247 9,337 21,172 28,356 2,298
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Interest Expense 761 1,096 269 296 952
PROFIT AND LOSS
Share of Profits of Associates 9,201 7,588 5,071 7,359 7,810
EBITDA 170,619 128,774 9,194 -2,487 66,316
Profit Before Tax 151,926 105,734 23,049 17,954 65,550
Income Tax Expense 51,147 24,949 8,195 -8,100 41,036Continuing Operations afterTax
100,779 80,785 N/A N/A N/A
Discontinued Operations afterTax
N/A N/A N/A N/A N/A
Outside Equity Interest 1,301 3,243 1,004 2,714 2,170
NPAT 99,478 77,542 13,850 23,340 22,344
Significant Items 0 0 0 0 0
Dividends 91,502 81,473 10,350 22,567 19,153
AUDIT
Audit Fees 2,514 2,780 2,487 1,985 1,937
Audit Other 420 1,410 477 N/A N/A
Total Audit Fees 2,934 4,190 2,964 1,985 1,937
BALANCE SHEET
CURRENT ASSETS
Cash At Bank N/A N/A N/A N/A N/A
Trade Debtors N/A N/A N/A N/A N/A
Inventory N/A N/A N/A N/A N/A
Other Current Assets N/A N/A N/A N/A N/A
Total Current Assets N/A N/A N/A N/A N/ANON-CURRENT ASSETS
Receivables N/A N/A N/A N/A N/A
Investments N/A N/A N/A N/A N/A
Property & Plant Equipment N/A N/A N/A N/A N/A
Intangible Assets N/A N/A N/A N/A N/A
Other Non-Current Assets N/A N/A N/A N/A N/A
Total Non-Current Assets N/A N/A N/A N/A N/A
Total Assets 2,057,763 2,099,749 2,083,875 1,421,894 1,736,720
CURRENT LIABILITIES
Trade Creditors N/A N/A N/A N/A N/A
Interest Bearing Debt N/A N/A N/A N/A N/A
Provisions N/A N/A N/A N/A N/A
Other Current Liabilities N/A N/A N/A N/A N/A
Total Current Liabilities N/A N/A N/A N/A N/A
NON-CURRENT LIABILITIES
Interest Bearing Debt N/A N/A N/A N/A N/A
Provisions N/A N/A N/A N/A N/A
Other Non-Current Liabilities N/A N/A N/A N/A N/A
Total Non-CurrentLiabilities N/A N/A N/A N/A N/A
Total Liabilities 1,155,785 1,212,795 1,196,238 1,189,316 1,546,815
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SHAREHOLDERS' EQUITY
Share Capital 868,451 858,178 849,609 218,637 179,030
Reserves -7,756 -3,324 6,171 5,440 3,769
Retained Earnings 25,126 15,583 14,403 11,078 10,305
Other 16,157 16,517 17,454 724 747
Total Equity 901,978 886,954 887,637 232,578 189,905
OTHER
Number of Employees N/A 983 1,099 483 446
Number of Shares on Issue(end of period)
231,903,558 230,156,479 229,794,395 229,794,395 68,821,801
Market Capitalisation (end ofperiod) ('000)
1,530,564 1,378,637 1,649,924 1,066,246 339,292
Earnings per Share (basic)(cents)
43.1 33.7 14.6 34.2 35.0
Earnings per Share
(diluted)(cents)42.9 33.6 14.4 33.8 34.5
Qualified Audit Report No No No No No
* IBISWorld estimate
Financial Growth
Balance Date 30-Jun-2011 30-Jun-2010 30-Jun-2009 30-Jun-2008 Ave 2006-11 (%)
Total Revenue Growth(% change)
-1.8 167.0 -31.3 -15.5 12.7
Sales Revenue Growth(% change) -1.3 124.8 2.2 34.7 24.1
EBITDA (% change) 32.5 1,300.6 N/A -103.8 39.7
NPAT (% change) 28.3 459.9 -40.7 4.5 33.9
Shareholders' Funds(% change)
1.7 -0.1 281.7 22.5 37.0
Total Assets (% change) -2.0 0.8 46.6 -18.1 5.2
Employees (% change) N/A -10.6 127.5 8.3 N/A
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Financial Ratios
Balance Date 30-Jun-2011 30-Jun-2010 30-Jun-2009 30-Jun-2008 30-Jun-2007
Return on Revenue (ROR)(%)
13.7 10.5 5.0 5.8 4.7
Return on Shareholders'Funds (ROSF) (%) 11.0 8.7 1.6 10.0 11.8
Return on Assets (ROA) (%) 4.8 3.7 0.7 1.6 1.3
Profit Margin (%) 24.2 16.6 8.1 6.5 31.9
Revenue per Employee($'000 per person)
N/A 753.9 252.6 836.8 1,072.2
NPAT per Employee ($'000per person)
N/A 78.9 12.6 48.3 50.1
Effective Tax Rate (%) 33.7 23.6 35.6 N/A 62.6
Gearing (%) 56.2 57.8 57.4 83.6 89.1
Interest Cover (X) 200.6 97.5 86.7 61.7 69.9Current Ratio (X) N/A N/A N/A N/A N/A
Dividends Paid per Share ($) 0.4 0.4 0.0 0.1 0.3
Revenue & NPAT Key Measures (% change)
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Brands, Business & Products
IOOF Holdings Ltd is a financial services company that offers the following services:
Investment managementIOOF offers investment options across a range of assets through its subsidiary, Perennial Investment
Partners. This includes the option to invest in Australian & international shares, Australian and globallylisted properties, fixed interest and cash assets.
Wealth managementIOOF provides a range of advisory services regarding investment strategies, wealth protection andaccumulation, retirement planning and stock broking.
Platform managementIOOF provides administration services for clients, employers and advisers to manage superannuationand investments, including managed funds and direct shares.
Estate planning
Estate planning services which are provided by a wholly owned subsidiary of the company, AustralianExecutor Trustees, include the preparation of wills and estate plans, powers of attorney, managementof deceased estates as well as the provision of personal trusts.
Corporate trustCorporate trust services are offered via the Australian Executor Trustees Corporate Trust team. Thisinvolves the provision of custodial services for managed investment schemes, acting as trustee orsecurity trustee for securitisation and structured finance transactions and as a trustee for note andother debt issues.
Industry Segments
Segment Name Revenue (AUD000) Profits (AUD000) Assets (AUD000)
Platform Management & Administration 352,870 94,136 209,086
Financial Advice & Distribution 193,103 8,949 122,684
Investment Management 135,450 54,118 150,191
Estate & Trustee Services 21,106 6,610 10,784
Corporate & Other 9,345 -25,498 597,001
Unallocated 16,035 -38,837 968,017
Total Revenue 727,909 99,478 2,057,763
Balance Date: 30 June, 2011Profit Definition: Profit From Ordinary Activities Before Tax
Industry Focus
Industry Industry
K7512 - Investment Banking & SecuritiesBrokerage
K7515 - Financial Planning & Investment Advice
K7514 - Funds Management (exceptSuperannuation Funds)
K7519 - Stock Exchange & Share RegistryServices
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Competitive Environment - K75 Services to Finance and Insurance in Australia
Major Industry Players (By Revenue)
1 Macquarie Group Limited 6 TOWER Limited
2 Computershare Limited 7Goldman Sachs & Partners Australia Group
Holdings Pty Ltd3 Challenger Limited 8 ASX Limited
4 American Express Australia Limited 9 IOOF Holdings Ltd
5 Chandler Macleod Group Limited 10 Marsh Mercer Holdings (Australia) Pty Ltd
Geographic Segments
Segment NameRevenueAUD000
ProfitsAUD000
AssetsAUD000
Australia 727,909 99,478 2,057,763
Total Revenue 727,909 99,478 2,057,763
Balance Date: 30 June, 2011Profit Definition: Profit From Ordinary Activities Before Tax
Business Segments -Revenue
Geographical Segments -Revenue
Geographical Segments -Profit
Platform Management &Administration
48.5%
Financial Advice & Distribution 26.5%
Investment Management 18.6%
Estate & Trustee Services 2.9%
Corporate & Other 1.3%
Unallocated 2.2%
Australia 100.0% Australia 100.0%
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Personnel
Position Type Title Salutation Initials Full Name
Chairman Non-Executive Chairman* Mr I B Ian Blair
Chief Executive Managing Director* Mr C Chris Kelaher
Financial Controller Chief Financial Officer Mr D David CoulterChief Operating Officer General Manager Operations Mr R Ron Beard
Non-Executive Director Non-Executive Director* Mr J M James Pfeiffer
Non-Executive Director Non-Executive Deputy Chairman* Dr R N Roger Sexton
Non-Executive Director Non-Executive Director* Mr G George Venardos
Non-Executive Director Non-Executive Director* Ms J Jane Harvey
Non-Executive Director Non-Executive Director* Mr I Ian Griffiths
Company Secretary Company Secretary Ms D Danielle Corcoran
Legal Officer General Counsel Mr G Gary Riordan
Sales Manager Head of Sales Ms A Alex Tullio
Marketing Manager Head of Marketing Ms C Candice Spence
Procurement Manager Head of Human Resources Ms D Danielle Corcoran
Personnel Manager Head of Human Resources Ms D Danielle Corcoran
Computing/IT Manager Chief Information Officer Mr A Andrew Todd
* Appointed to the Board of Directors.
Shareholders
Shareholder Name Percentage Held Country of Incorporation
Substantial Shareholders
Trust Company Fiduciary Services Limited 11.93 % Australia
Bendigo & Adelaide Bank Limited 7.80 % Australia
Largest Shareholders
Trust Company Fiduciary Services Limited 11.91 % Australia
J P Morgan Nominees Australia Limited 9.90 % Australia
National Nominees Limited 8.04 % Australia
Sandhurst Trustees Limited 7.79 % Australia
HSBC Custody Nominees (Australia) Limited 7.39 % Australia
Citicorp Nominees Pty Limited 5.15 % AustraliaCogent Nominees Pty Limited 4.61 % Australia
UBS Wealth Management Australia Nominees Pty Ltd 3.45 % Australia
AMP Life Limited 1.33 % Australia
ANZ Nominees Limited 1.08 % Australia
Queensland Investment Corporation 0.83 % Australia
I G Griffiths 0.58 % Australia
David Vautin Pty Ltd 0.47 % Australia
Australian Reward Investment Alliance 0.45 % Australia
IOOF Holdings Trustee Pty Ltd 0.42 % Australia
Lujeta Pty Ltd 0.39 % Australia
Morris Equity Investments Pty Ltd 0.34 % Australia
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Custodial Services Limited 0.33 % New Zealand
As at: 27 September, 2010
Subsidiaries
Subsidiary Name Percentage Held Country of Incorporation
Associated companies
Allords Financial Services Pty Ltd 40 % Australia
J C Private Clients Pty Limited 20 % Australia
Northern Inland Investment Services Pty Limited 42 % Australia
Perennial Value Management Limited 52 % Australia
Police & Nurses Financial Planning Pty Limited 35 % Australia
Police Credit Union Ltd 40 % Australia
Holding company
IOOF Holdings Ltd 100 % AustraliaSubsidiaries
Accountplan Pty Limited 100 % Australia
AET SPV Management Pty Limited 100 % Australia
AET Structured Finance Services Pty Limited 100 % Australia
AET Super Solutions Pty Limited 100 % Australia
AETOML Nominees Pty Ltd 70 % Australia
Australian Executor Trustees (NSW) Limited 100 % Australia
Australian Executor Trustees (Canberra) Limited 100 % Australia
Australian Executor Trustees (SA) Limited 100 % Australia
Australian Executor Trustees Limited 100 % Australia
Australian Wealth Management Limited 100 % Australia
Australian Wealth Management Service Co Pty Limited 100 % Australia
Austselect Pty Limited 100 % Australia
B D Shepparton Pty Limited 75 % Australia
Bagot's Executor & Trustee Company Limited 100 % Australia
Bagot's Nominees Pty Limited 100 % Australia
Beaglemoat Nominees Pty Ltd 70 % Australia
Bridges Financial Services Group Pty Limited 100 % Australia
Bridges Financial Services Pty Limited 100 % AustraliaBridges Nominees Pty Limited 100 % Australia
Caltowie Investments Pty Limited 70 % Australia
Cigar Nominee Pty Limited 100 % Australia
CK Brisbane Pty Ltd 100 % Australia
Consultum Financial Advisers Pty Ltd 100 % Australia
Contango Nominees Pty Ltd 70 % Australia
CU Financial Advisory Services Pty Limited 100 % Australia
DD Charlestown Pty Ltd 100 % Australia
Dicksons Limited 70 % Australia
Executive Wealth Management Financial Services PtyLimited
100 % Australia
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Executive Wealth Management Pty Limited 100 % Australia
Executor Trustee Australia Limited 100 % Australia
Financial Lifestyle Partners (Doncaster) Pty Ltd 65 % Australia
Financial Partnership Pty Ltd 100 % Australia
Finium Trustees Pty Limited 100 % Australia
Group Investments Nominee Pty Limited 100 % AustraliaHoliday Coast Wealth Management Pty Limited 100 % Australia
IOOF Global One Limited 100 % Australia
IOOF Investment Holdings Ltd 100 % Australia
IOOF Investment Management Limited 100 % Australia
IOOF Life Ltd 100 % Australia
IOOF Ltd 100 % Australia
IOOF Services Pty Ltd 100 % Australia
IOOF Transition 2 Pty Ltd 100 % Australia
IOOF Transition 3 Pty Ltd 100 % AustraliaJK Rye Pty Limited 100 % Australia
JV1 Pty Limited 100 % Australia
KE Sunshine Coast Pty Ltd 100 % Australia
Minnett Nominees Pty Ltd 70 % Australia
NS Singleton Pty Ltd 100 % Australia
NT Homebush Pty Limited 70 % Australia
OMPL Pty Ltd 70 % Australia
OMPYF Nominees Pty Ltd 70 % Australia
Ord Minnett Financial Planning Pty Limited 70 % Australia
Ord Minnett Holdings Pty Limited 70 % AustraliaOrd Minnett Limited 70 % England
Ord Minnett Management Ltd 70 % Australia
Ord Minnett Prime Nominees Pty Limited 70 % Australia
Perennial Fixed Interest Partners Pty Ltd 75 % Australia
Perennial Growth Management Pty Ltd 60 % Australia
Perennial International Equities Management Pty Ltd 100 % Australia
Perennial Investment Partners (UK) Limited 100 % England
Perennial Investment Partners (US) Inc 100 % United States of America
Perennial Investment Partners Asia Limited 95 % AustraliaPerennial Investment Partners Limited 100 % Australia
Perennial Real Estate Investments Pty Ltd 50 % Australia
Questor Financial Services Limited 100 % Australia
Security Management Services Pty Ltd 100 % Australia
Select Managed Funds Limited 100 % Australia
SEM Group Administration Pty Limited 100 % Australia
Sentinel Adviser Services Pty Limited 100 % Australia
SMF Funds Management Limited 100 % Australia
SMF Investment Managers (Super & Pension Fund) Pty
Limited100 % Australia
SMF Pty Limited 100 % Australia
SMF SuperOptions Pty Limited 100 % Australia
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SMF Wealth Management Pty Limited 100 % Australia
Spectrum Managed Funds Pty Limited 100 % Australia
Strategy Plus Financial Planning Pty Ltd 100 % Australia
Super Choice Pty Limited 100 % Australia
Tower Austrust Building Pty Limited 100 % Australia
United Funds Management Limited 100 % AustraliaWealth Managers Pty Limited 100 % Australia
Trust
IOOF Executive Performance Share Plan Trust 100 % Australia
Perennial Cash Enhanced Wholesale Trust 56 % Australia
Perennial Cash Trust 55 % Australia
Perennial Socially Responsive Shares Wholesale Trust 90 % Australia
Perennial Tactical Income Trust 8 % Australia
Balance Date: 30 June, 2010
Services
Service Provider Type Service Provider
Banker Commonwealth Bank
External Auditor KPMG
Insurance Broker Willis Australia Ltd
Internal Auditor Ernst & Young
Solicitor Blake Dawson Waldron
Solicitor Freehills
Solicitor Mallesons Stephen JaquesTelecommunication Telstra Corporation Limited
Balance Date: 30 June, 2011
* IBISWorlds company information covers more than 2,000 of the countrys largest businesses, whichdrive Australias economy. The companies are ranked based on total revenue earned in the mostrecently reported financial year. All company types, such as public listed, public non-listed, privatecompanies and more, are listed in our database. The IBISWorld rank is updated daily.
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IOOF Holdings Ltd
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