Results presentation
Year ended
31 March 2016
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Introduction
Peter Cruddas - Group CEO
Introduction
Successful IPO
Strong growth across all key metrics and significant progress on all strategic
initiatives
Number of trades up 50%, value of trades up 27%
Revenue per active client (RPC) up 4% to £2,828
Underlying EPS up 23% to 18.0 pence
Final dividend of 5.36 pence; total dividend of 8.93 pence (10.72 pence including
special dividend)
Strong cash position to facilitate growth with a robust balance sheet and
regulatory capital position
Confident of meeting targets
Key Highlights
Analyst presentation ǀ Pg 3
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Financials
Grant Foley - Group CFO
51.9
62.4
32.2
43.5 53.4
26%
36% 37%
2014 2015 2016
Underlying PBT² (£m)Statutory PBT (£m)Underlying PBT margin
24.0
40.9
50.7
34.7 42.5
2014 2015 2016
Underlying Profit After Tax⁵ (£m)
Profit After Tax (£m)
48,006 50,303
57,329
2,374
2,716
2,828
2014 2015 2016
Active clients¹ Revenue per client²
1. Active clients represent those individual clients who have traded with or held CFD or spread bet positions with CMC Markets on at least one occasion during the financial year. 2. Trading revenue generated from CFD and spread bet active clients. 3. Net operating income represents total revenue after rebates payable to introducing partners who are not themselves trading counterparties and betting levies. 4. Underlying PBT represents PBT before exceptional items. 5. Based on implied tax payable excluding exceptional items
Active clients1 and Revenue per active client2 (£)
KPIs Strong underlying growth
Profit Before Tax (£m and margin)
Net operating income3 (£m)
Dividends per share and Basic EPS (pence)
1,351 1,626
2,071
33.0
44.6
66.8
2014 2015 2016
Turnover (£bn) Trades (m)
122.0 143.6
169.4
2014 2015 2016
Analyst presentation ǀ Pg 5
4.3 5.7
8.9
1.8
8.6
12.4
15.1
2014 2015 2016
Special dividend per shareDividend per shareBasic EPS
Turnover (£bn) and Trades (m)
Profit after tax (£m)
+18%
+18%
+71%
+24% +20%
+61%
Group (£m) 2016
2015 YoY % H1 H2 Full Year
Net operating income1 78.9 90.5 169.4 143.6 18%
Operating expenses (49.1) (51.1) (100.2) (83.9) (19%)
Depreciation, amortisation and
finance costs (3.6) (3.2) (6.8) (7.8) 13%
Underlying Profit before tax2 26.2 36.2 62.4 51.9 20%
Other income 1.6 1.5 3.1 - -
Exceptional costs (1.3) (10.8) (12.1) (8.4) (43%)
Profit before taxation 26.5 26.9 53.4 43.5 23%
Underlying Profit after tax3 50.7 40.9 24%
Profit after tax 20.0 22.5 42.5 34.7 22%
1. Net operating income represents total revenue after rebates payable to introducing partners who are not themselves trading counterparties and betting levies.
2. Underlying PBT represents PBT before exceptional items.
3. Based on implied tax payable excluding exceptional items
Income statement Increasing revenue generated from growing client base
Strong net operating income
growth driven by increase in
active client numbers and
trading activity
New Countdowns product
successfully launched globally
during the year, generating
revenues of £4.3m
Controlled cost increase with
investment in key areas of the
business to drive growth
initiatives
Underlying PBT growth of 20%
Continuing investment in
business has not been to the
detriment of underlying PBT
margin
Analyst presentation ǀ Pg 6
Group (£m) 2016 2015 YoY %
CFD and spread bet (including
binaries) net revenue 162.2 136.6 19%
Stockbroking 5.2 5.1 3%
Interest income 1.8 2.1 (17%)
Sundry income 0.2 (0.2) -
Net operating income 169.4 143.6 18%
1. Turnover represents the notional value of client trades.
Breakdown by product Turnover1 and trades
Net operating income
Growth in CFD and spread bet revenue driven by increase in
active clients and trading activity
Countdowns released 20th July 2015, providing £4.3m revenue
Stockbroking remained relatively consistent despite the
backdrop of a weaker Australian dollar
Lower interest income as a result of reduction in interest rates
in Australia
Performance aided by higher levels of market volatility
Analyst presentation ǀ Pg 7
0
10
20
30
40
50
60
70
80
0
500
1,000
1,500
2,000
2,500
Tra
de
s (
m)
Tu
rno
ve
r (£
bn
)
Turnover Trades
1. Net revenue generated from CFD and spread bet active clients, including Countdowns, after the impact of rebates and levies.
Net revenue1 bridge (£m)
Analyst presentation ǀ Pg 8
136.6
(17.5) 6.6
2.3
34.2 162.2
2015 Net revenue Existing clients tradingmore
Existing clients stoppedtrading
Returning clients New clients 2016 Net revenue
Existing clients:
(£10.9m)
New and returning clients:
£36.5m
7.0
10.5
1.9 0.1
2.0
(0.5)
2015 retail rebate Existing clients tradingmore
Existing clients stoppedtrading
Returning clients New clients 2016 retail rebate
1. Revenue is presented net of volume rebates in the financial statements.
Retail volume rebate1 bridge (£m)
Analyst presentation ǀ Pg 9
Existing clients:
£1.4m
New and returning clients:
£2.1m
Active client growth across all regions
Client growth has not reduced quality of
clients with overall RPC up 4% to £2,828
RPC continues to be one of the highest in
the industry
Increased RPC after paying a record
£10.5m to retail client in rebates
H1 RPC of £1,707 vs H2 RPC of £1,871
1. Trading revenue generated from CFD and spread bet active clients.
Revenue per active client1 (RPC) Growing active client base and RPC
Analyst presentation ǀ Pg 10
14 15 17
14 15
18
20 20
22
2,374
2,716
2,828
500
1,000
1,500
2,000
2,500
3,000
-
10
20
30
40
50
60
70
2014 2015 2016
RP
C (
£)
Act
ive
clie
nts
(0
00
's)
UK APAC & Canada Europe RPC (£)
1. Revenue represents total trading revenue generated from CFD and Spread bet clients before the impact of Rebates & Levies.
Increasing average daily revenue1 Reducing loss days
Revenue trend
Analyst presentation ǀ Pg 11
476
566
673
2014 2015 2016
Average daily CFD and spread bet trading revenue (£000s)
11.0% 10.3%
8.4%
2014 2015 2016
CFD and spread bet loss days %
1. Net revenue generated from CFD and spread bet active clients, including Countdowns, after the impact of rebates and levies.
2. Active clients represent those individual clients who have traded with or held CFD or spread bet positions with CMC Markets on at least one occasion during the financial year.
3. Change in net revenue per active client.
UK revenue bridge (£m) Europe revenue bridge (£m)
APAC & Canada revenue bridge (£m)
Performance by region Revenue growth driven by increasing client numbers and quality
Analyst presentation ǀ Pg 12
48.6
63.1
6.8
7.7
2015 Netrevenue¹
Active clientgrowth²
RPC growth³ 2016 Netrevenue¹
45.4
48.5 3.8 (0.7)
2015 Netrevenue¹
Active clientgrowth²
RPC growth³ 2016 Netrevenue¹
42.6
50.6 9.5 (1.5)
2015 Netrevenue¹
Active clientgrowth²
RPC growth³ 2016 Netrevenue¹
Strong growth in active clients across all regions
RPC growth in UK driven by continuing to attract quality
clients; our premium client proposition is now well
established in the UK
Good growth in Europe with active clients up 8%, offset by a
fall in RPC due to an increased number of new clients in H2
Very strong active client growth in APAC & Canada up 23%,
impact on RPC due to the number of actives increasing
throughout the year
24
28 31 31
26
32 34 36
2013 2014 2015 2016
Standard Premium¹
1. Premium clients are calculated based on internal revenue metrics.
Client tenure (in months) 2016 Revenue by client tenure
Client churn
Customer lifecycle Improving client tenure
Analyst presentation ǀ Pg 13
21%
14%
17% 13%
35%
Client Tenure
0-6M
6-12M
1-2YR
2-3YR
>3YR
48,006 50,303 57,329
2014 2015 2016
Continuous traders New traders Reactivated Stopped Trading
Positive client churn
Typical client tenure of over 2½ years
48% of revenue was generated from clients that have been
with CMC for over 2 years
Group (£m)
2016
2015 YoY %
% of NOI
H1 H2 Full
Year 2016 2015
Net staff costs 21.9 24.2 46.1 40.7 13% 27% 28%
IT costs 5.9 6.8 12.7 11.4 11% 7% 8%
Sales and marketing 7.5 10.8 18.3 13.7 34% 11% 10%
Premises 2.4 2.4 4.8 5.6 (14%) 3% 4%
Legal and Professional
fees 1.6 2.0 3.6 2.9 24% 2% 2%
Regulatory fees 2.4 0.3 2.7 2.1 29% 2% 1%
Other 7.4 4.6 12.0 7.5 59% 7% 5%
Total operating
expenses before
exceptional costs
49.1 51.1 100.2 83.9 19% 59% 58%
Exceptional costs 1.3 10.8 12.1 8.4 43% 7% 6%
Total operating
expenses 50.4 61.9 112.3 92.3 22% 66% 64%
1. Operating costs excluding exceptional items.
Operating costs Controlled cost growth to support strategic focus
Total underlying operating cost¹
increase of 19% driven by
increasing headcount and
marketing expenditure
Increased headcount as part of
investment in key areas to
support growth initiatives
Marketing spend has grown in
line with NOI and remains
within guidance of 10-12%
Analyst presentation ǀ Pg 14
Group (£m) 2016 2015 YoY
Own funds 176.4 143.1 33.3
Non-segregated client and partner
funds 2.2 7.8 (5.6)
Available committed facility 25.5 36.8 (11.3)
Total available liquidity 204.1 187.7 16.4
Group (£m) 2016 2015
Core Tier 1 Capital 1 160.9 142.3
Less: intangibles and deferred tax assets 2 (6.6) (6.4)
Capital Resources 154.3 135.9
Pillar 1 requirement 3 39.6 39.0
Total risk exposure 4 494.9 487.5
Capital ratio % 31.2% 27.9%
1. Core Tier 1 capital – total audited capital resources as at the end of the financial year, less proposed dividends. 2. Intangible and deferred tax asset deduction has been restated to reflect the impact of CRD IV on prior year and incudes audited results. 3. Pillar 1 requirement – the minimum capital requirement required to adhere to CRD IV. 4. Total risk exposure – the Pillar 1 requirement multiplied by 12.5, as set out by the FCA. 5. Blocked cash relates to cash needed to support regulatory and overseas subsidiaries operational requirements. 6. Internal Liquidity Buffer consistent at £30m. 7. Surplus total available liquidity is defined as the liquidity in excess of the Group’s liquidity risk appetite and is the Group’s key liquidity measure.
Liquidity and regulatory capital Good cash generation and strong regulatory capital ratio
Analyst presentation ǀ Pg 15
Available liquidity
Group (£m) 2016 2015 YoY
Total available liquidity 204.1 187.7 16.4
Blocked cash⁵ (14.9) (14.9) -
Internal Liquidity Buffer 6 (30.0) (30.0) -
Initial margin requirement at
broker (54.7) (52.8) (1.9)
Surplus total available liquidity7 104.5 90.0 14.5
Uses of Available liquidity
Regulatory capital
1,351 1,626
2,071
55.1
71.5 77.7
2014 2015 2016
Turnover (£bn)
Peak prime broker requirements (£m)
12.0 15.9
25.4
5.0
2014 2015 2016
Dividends (£m) Special dividend (£m)
Strong cash generation Uses of free cash
Capital allocation framework
Analyst presentation ǀ Pg 16
Objectives
42.4
45.2
53.5
2014 2015 2016
Own funds generated (£m)
Hedging
Shareholder returns
1
2
Effective risk
management
Increasing revenues
Maintain a strong
capital ratio
Liquidity to
withstand
contingencies and
take advantage of
opportunities
Growing client
activity
Increasing shareholder
returns
1
2
3
Key regulatory topics
Dear CEO letter - February 2016
ESMA Task Force
AMF potential restrictions
MiFID II
Analyst presentation ǀ Pg 17
Financial summary
Strong revenue growth
– Increasing active quality clients
– Record level of client rebates
Contribution from new products
– Countdowns generated £4.3 million in 8 months
Focus on cost control
– Targeted investment in the business to drive future growth
Final dividend of £15.4 million – 5.36 pence per share
Robust balance sheet
– Strong liquidity to facilitate future growth
– Capital ratio of 31%
Analyst presentation ǀ Pg 18
Outlook
Analyst presentation ǀ Pg 19
Revenue
Continue to target gross revenues of £250m by 2020
– Equivalent to £220m net operating income
– Of which new products to generate £20m
Costs
Staff costs
– Consistent as a percentage of net operating income
– LTIP costs expected to be a further £6m pa
Technology costs expected to be 7% to 8% of net operating income
Marketing to be 10% to 12% of net operating income as previously guided
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Strategic Progress
Peter Cruddas - Group CEO
Improving client acquisition, quality and
retention in UK
Held leading market share in
Australia1 and Germany2
Established markets Seen as the choice provider by
both new clients and switchers
Digital marketing
Improve effectiveness of digital
marketing to drive client
acquisition
Geographic expansion
Grow developing regions, open
new offices and explore potential
opportunities elsewhere
New products / developments
Continue to drive new binaries
proposition and evaluate other
opportunities
Institutional Next Gen platform to offer full
white and grey label proposition
Strategic objectives 5 pillars of strategic focus
1. Australia Investment Trends CFD and FX Reports, September 2015.
2. Investment Trends April 2015 Germany CFD & FX Report.
A
B
C
D
E
Initiative Objective FY16 progress
Increase in client acquisition through
digital channels
Conversion enablers being rolled out
Poland office set up during the year
Encouraging growth in developing
regions
Countdowns released during the
financial year
Binaries also released in April
White label offering released during the
year
API functionality released
Analyst presentation ǀ Pg 21
UK
– Increase in primary market share²
– Retail client acquisition up 10%
Australia
– Retail client acquisition up 32%
– Number one ranking for high value
CFD clients and number one market
share for frequent trading FX clients
in Australia3
Germany
– Market leading position4
– Video ID and verification introduced
1. Active clients represent those individual clients who have traded with or held CFD or spread bet positions with CMC Markets on at least one occasion during the financial year.
2. UK Investment Trends CFD Report, Oct 2015.
3. Investment Trends June 2015 Australia CFD Report.
4. Investment Trends April 2015 Germany CFD & FX Report.
Active clients1 and number of trades Highlights
Established markets Strong organic growth in established markets
0
1
2
3
4
5
6
Clie
nt
trad
es
(m
illi
on
s)
UK Australia Germany
Analyst presentation ǀ Pg 22
-
5
10
15
20
25
30
35
40
2014 2015 2016
Ac
tive
cli
en
ts (
00
0's
)
UK Germany Australia
1. This is natural search on google.co.uk for identified keywords in the UK SEO campaign.
2. App downloads across all markets.
Natural search rankings improvements1
Digital progress
1
55
91
Number of keywords in top 5 position in natural search for UK
Aug ‘15 May ‘16
New device responsive website launched across all established markets 3
Mobile focus driving apps downloads2 2
New device responsive application forms launched in Australia 4
14,326 14,620
23,736 31,393
Q1 Q2 Q3 Q4
Number of app downloads
Analyst presentation ǀ Pg 23
0
5
10
15
20
25
30%
35%
40%
45%
50%
55%
60%
2014 2015 2016
Nu
mb
er
of
trad
es
(m)
Mo
bil
e t
urn
ove
r %
Mobile turnover % Mobile trades
1. Cost per new approved account, presented net of Land Rover BAR sponsorship cost .
2. Financial Times 2015 and Shares Magazine 2015.
Cost per acquisition1 (CPA) reducing towards target
Digital benefits
1 Mobile trading app driving client activity 2
697
663 656
575
2014 2015 2016 Medium termtarget
Greater focus on digital and mobile spend
Targeted activity in line with strategy
Improving efficiencies
36%
41%
48%
Award winning mobile trading app2
Trades and turnover via mobile continue to
increase
Analyst presentation ǀ Pg 24
France
– New management team in place
– 70% growth in value of trades during the year
– 35% increase in active clients
– 7% increase in revenue per active client
– Launch of grey label Partners functionality
Italy
– New management team in place
– 18% increase in value of trades during the year
– 20% increase in active clients
1. Net revenue generated from CFD and spread bet active clients, including Countdowns after the impact of rebates and levies.
Office opened in Q3
Steady growth in performance as foothold is taken in the
region
France and Italy
Geographic expansion/developing regions France, Italy and Poland
Poland
Analyst presentation ǀ Pg 25
0
500
1,000
1,500
2,000
2,500
-
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
2015 2016
Ac
tive
cli
en
ts
Net
reve
nu
e¹
(£m
)
France Italy France & Italy active clients
0
50
100
150
200
250
300
350
Oct 2015 Nov 2015 Dec 2015 Jan 2016 Feb 2016 Mar 2016
Monthly active clients Cumulative new accounts
Stage 1 - Countdowns
Product built entirely in house
Launched 20th July in UK, Australia and New Zealand, and all
remaining offices (except Canada and Singapore) on 16th
November
Simple and exciting way to trade the markets
Steadily increasing active clients
Stage 2 - Binaries
Binaries released 25th April
Stage 3 - Future developments
Expansion of binaries product planned for release during
FY17
Committed to constant technological development to produce
a strong pipeline of products
Opportunities for partner expansion in new products
1. Gross Countdowns revenue before the impact of rebates and levies.
Countdowns performance
New products Countdowns released during FY16, Binaries launched April 2016
-
50
100
150
200
250
300
350
400
-
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
Tra
de
s (
00
0’s
)
Reve
nu
e¹
(£m
)
Revenue Trades
Analyst presentation ǀ Pg 26
Summary
Clear strategy that is being delivered
Strong revenue growth after record client rebates
Good growth in active client numbers whilst still increasing revenue per active client
Successful launch of Countdowns
Continuing to invest for growth
Strong liquidity to support growth
Analyst presentation ǀ Pg 27
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Questions
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Appendices
Appendix 1
Net revenue1 (£m)
2014 2015 2016
H1 H2 Full Year H1 H2 Full Year H1 H2 Full Year
UK 15.7 17.7 33.4 19.3 29.3 48.6 29.5 33.6 63.1
Europe 21.0 24.8 45.8 19.8 25.6 45.4 22.1 26.4 48.5
APAC & Canada 18.8 16.0 34.8 16.4 26.2 42.6 23.5 27.1 50.6
Total 55.5 58.5 114.0 55.5 81.1 136.6 75.1 87.1 162.2
Selected KPIs by half year
1. Net revenue represents total trading revenue generated from CFD and Spread bet clients after the impact of Rebates & Levies. 2. Active clients represent those individual clients who have traded with or held CFD or spread bet positions with CMC Markets on at least one
occasion during the preceding 6 months for half year figures and 12 months for full year.
Active clients²
2014 2015 2016
H1 H2 Full Year H1 H2 Full Year H1 H2 Full Year
UK 10,901 10,894 14,054 10,673 12,814 15,417 12,749 13,172 17,268
Europe 15,435 15,751 19,572 15,365 17,111 20,019 16,954 18,175 21,714
APAC & Canada 12,021 11,380 14,380 11,323 12,756 14,867 14,314 15,201 18,347
Total 38,357 38,025 48,006 37,361 42,681 50,303 44,017 46,548 57,329
Revenue per active client (£)
2014 2015 2016
H1 H2 Full Year H1 H2 Full Year H1 H2 Full Year
UK 1,437 1,624 2,373 1,812 2,283 3,152 2,314 2,548 3,652
Europe 1,361 1,572 2,338 1,288 1,499 2,269 1,302 1,455 2,234
APAC & Canada 1,564 1,411 2,424 1,442 2,058 2,864 1,646 1,781 2,760
Total 1,446 1,539 2,374 1,484 1,901 2,716 1,707 1,871 2,828
Analyst presentation ǀ Pg 30
Group (£m) H1 H2 2016 H1 H2 2015 YoY %
Total revenue 89.1 99.1 188.2 64.7 93.1 157.8 19%
Rebates & levies (10.2) (8.6) (18.8) (5.9) (8.3) (14.2) 32%
Net operating income1 78.9 90.5 169.4 58.8 84.8 143.6 18%
Other income 1.6 1.5 3.1 - - - -
Operating expenses (49.1) (51.1) (100.2) (41.3) (42.6) (83.9) (19%)
Exceptional costs (1.3) (10.8) (12.1) - (8.4) (8.4) (43%)
Depreciation and amortisation (3.2) (2.8) (6.0) (3.2) (3.7) (6.9) 13%
Finance costs (0.4) (0.4) (0.8) (0.4) (0.5) (0.9) 14%
Profit before taxation 26.5 26.9 53.4 13.9 29.6 43.5 23%
Underlying Profit before tax2 26.2 36.2 62.4 13.9 38.0 51.9 20%
Taxation (6.5) (4.4) (10.9) (2.6) (6.2) (8.8) (24%)
Profit after tax 20.0 22.5 42.5 11.3 23.4 34.7 22%
Underlying Profit after tax⁴ 50.7 40.9 24%
Dividend per share 10.72 5.71p 88%
Basic EPS 15.1 12.4p 22%
1. Net operating income represents total revenue after the impact of Rebates & Levies.
2. Underlying PBT represents PBT before exceptionals.
3. Trading revenue generated from CFD and spread bet active clients.
4. Based on implied tax payable excluding exceptional items
Appendix 2 Income statement
Analyst presentation ǀ Pg 31
0
10
20
30
40
50
60
70
80
90
Mar-13 Mar-14 Mar-15 Mar-16
Bro
ke
r m
arg
in r
eq
uir
em
en
t (£
m)
Daily margin requirement
Appendix 3 Broker margins
Analyst presentation ǀ Pg 32
2014 max requirement - £55m 2015 max requirement - £72m 2016 max requirement - £78m
Range of £32.2m
Range of £34.2m
Range of £38.8m
Shares 10%
Index 48%
Commodity 11%
Treasury 0%
FX 25%
Countdowns 3%
Stockbroking 3%
Shares 12%
Indices 49%
Commodity 15%
Treasury 1%
FX 19%
Stockbroking 4%
1. CFD and Stockbroking revenue represents total revenue generated from CFD, Spread bet and stockbroking clients after the impact of Rebates & Levies.
2. Net revenue generated from CFD and spread bet active clients, including Countdowns after the impact of rebates and levies.
2016 CFD and Stockbroking revenue1 by asset class 2015 CFD and Stockbroking revenue1 by asset class
2016 Net revenue2 by region 2015 Net revenue2 by region
Appendix 4 Revenue composition
UK 39%
Europe 30%
APAC & Canada
31% UK 36%
Europe 33%
APAC & Canada
31%
Analyst presentation ǀ Pg 33
Appendix 5
38.2
34.5
38.5
53.7
37.1
47.3
-
10
20
30
40
50
60
70
UK Europe APAC & Canada
Re
gio
nal
EB
ITD
A (
£m
)
2015 2016
Regional EBITDA¹
1. Regional EBITDA presented before the allocation of central costs.
Analyst presentation ǀ Pg 34
Disclaimer
Certain statements in this presentation constitute or may constitute forward-looking statements. Any statement in this presentation that is not a statement of historical fact including, without limitation, those regarding the Company’s future expectations, operations, financial performance, financial condition and business is or may be a forward-looking statement. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected or implied in any forward-looking statement. These risks and uncertainties include, among other factors, changing economic, financial, business or other market conditions. These and other factors could adversely affect the outcome and financial effects of the plans and events described in this presentation. As a result, you are cautioned not to place any reliance on such forward-looking statements. The forward-looking statements reflect knowledge and information available at the date of this presentation and the Company undertakes no obligation to update its view of such risks and uncertainties or to update the forward-looking statements contained herein. Nothing in this presentation should be construed as a profit forecast or profit estimate and no statement in this presentation should be interpreted to mean that the future earnings per share of the Company for current or future financial years will necessarily match or exceed the historical or published earnings per share of the Company.
This communication is directed only at (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001; or (ii) high net worth bodies corporate, unincorporated associations and partnerships and trustees of high value trusts as described in Article 49(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001. Persons within the United Kingdom who receive this communication (other than those falling within (i) and (ii) above) should not rely on or act upon the contents of this communication. Nothing in this presentation is intended to constitute an invitation or inducement to engage in investment activity for the purposes of the prohibition on financial promotion contained in the Financial Services and Markets Act 2000.
This presentation has been furnished to you solely for information and may not be reproduced, redistributed or passed on to any other person, nor may it be published in whole or in part, for any other purpose.
This presentation does not constitute or form part of, and should not be construed as, an offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities of CMC Markets PLC (“CMC”, or the “Company") in any jurisdiction nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. This presentation does not constitute a recommendation regarding the securities of CMC. Without limitation to the foregoing, these materials do not constitute an offer of securities for sale in the United States. Securities may not be offered or sold into the United States absent registration under the US Securities Act of 1933 or an exemption there from.
CMC has not verified any of the information set out in this presentation. Without prejudice to the foregoing, neither CMC nor its associates nor any officer, director, employee or representative of any of them accepts any liability whatsoever for any loss however arising, directly or indirectly, from any reliance on this presentation or its contents.
This presentation is not being issued, and is not for distribution in, the United States (with certain limited exceptions in accordance with the US Securities Act of 1933) or in any jurisdiction where such distribution is unlawful and is not for distribution to publications with a general circulation in the United States.
Certain figures contained in this presentation, including financial information, have been subject to rounding adjustments. Accordingly, in certain instances, the sum or percentage change of the numbers contained in this presentation may not conform exactly to the total figure given as percentage movements have been calculated from the underlying data before rounding.
By attending or reading this presentation you agree to be bound by the foregoing limitations.
Analyst presentation ǀ Pg 35