Moelis Australia has approximately $57 million of core borrowings. 18 August 2021: Add to Calendar : Dates are subject to change should circumstances require. 0.02 (0.6%) As at 4:00PM 21/01/2021. ASX:RDC Income Statement, August 7th 2019. Contents Page . For the effect of fees on your cumulative returns, please see our report How Fees Can Destroy Your Wealth. Our average cash balance in FY19 was $109.5 million. This investment can, for a period, have a dilutive impact on our revenue productivity. Andrew Pridham appointed Moelis Australia Group Vice Chairman; and, Julian Biggins and Chris Wyke appointed Joint Chief Executive Officers of Moelis Australia. This information should be read in conjunction with the 2018 Annual Report. 16 February 2021 08:30 AM Melbourne time (approximate) BHP Results for the half year ended 31 December 2020 17 February 2021: Add to Calendar : 3Q21 Sales Results. The new branding aims to clearly distinguish between our Asset Management and Corporate Advisory activities while maintaining links to our heritage. Despite this we are delighted with the positive influence of our newest team members. This positive earnings momentum, together with a promising transaction pipeline, gives us confidence for the first half of FY20. At 31 December 2019 we had approximately $4.9 billion in AUM (up 32% on 31 Dec 2018). Click for more information. The results show the group explored 15 venue acquisitions, eventually acquiring six, paying $158m in total for them, all off-market. Redcape Hotel Group has issued its first earnings results for its 32 venues since listing on the Australian Stock Exchange on 30 November 2018. The size of the residential mortgage market in Australia is in excess of $1.8 trillion. However, we remain disappointed with the performance of our strategic investment in Japara Healthcare Limited (ASX:JHC) and our funds invested in the childcare space. $20m in July 2018 for the Sun Hotel in Townsville; $40m in August 2018 for the Vauxhall Inn, Granville; $48m in August 2018 for the Australian Hotel and Brewery; and. I remain passionate about and fully committed to the business. Redcape Hotel Group is a rare case where dividends have been decreasing at the same time as earnings per share have been improving. These are roles I have enjoyed over my 30 years working in the investment banking industry. View our privacy policy. The nature of our business means that it is complex to forecast expected revenue performance with precision so early in our financial year. While there is some analyst coverage, the company is probably not widely covered. Provide your details to receive notice of our latest published insights. This fee was included in the FY18 Statutory result but not recorded as Underlying Revenue until FY19. Our Fixed Income Fund also had strong capital inflows during FY19 and has ~$110 million of AUM (up ~$100m in FY19). An estimate of costs for refurbishing the Cabramatta Inn currently underway of around $7m is also detailed, with a current completion date of June 2019. Facts and figures are current as at 19 August 2020. We flagged in our 1H19 results that our experience when hiring new teams is that it can take 18+ months for them to reach full productivity. Renovations at the Leumeah Hotel cost Redcape Hotel Group $4.9m. Our lending platform in this credit vertical today manages a loan book comprising approximately 17,000 borrowers. Underlying Revenue in Asset Management increased 14% to $96.7 million, Strong growth in revenue. However, we continue to work hard to maximise outcomes for all stakeholders in these asset classes. It is important for me to emphasise that Andrew will continue an active involvement in the business as an Executive Director, major shareholder and Group Vice Chairman. 5 November 2020: Add to Calendar : 1H21 Results Announcement. 09 October 2019. Underlying Revenue for FY19 in Corporate Advisory & Equities was $61.7 million (up 20% on FY18). In December, we raised capital into our newest credit Fund, The Moelis Australia Private Credit Fund. Both the aged care and childcare sectors continue to experience difficult market dynamics. Created with Sketch. A compound annual growth rate (CAGR) of … Corporate Spotlight; … By signing up to receive our insights/ASX updates you may also receive occasional relevant communications and special notifications from Moelis Australia via email. In 2019 we welcomed three new Managing Directors and associated teams. Promising inflows into this new Fund have continued in 2020. Mr Wyke will be appointed to the Moelis Australia Board and his employment terms remain unchanged as set out in the 2019 Annual Report. Demand from potential SIV investors remains strong and this is reflected in our pipeline of future investors. Head Office: Cremorne: Managing Director:-GICS Sub-Industry: Casinos & Gaming: Date Listed: 30 Nov 2018: Registry: … We believe that this allows us to better control their credit characteristics, pricing and volume. We believe this is attractive in the current low interest rate environment. Basic and Diluted EPS were (0.93) cents compared to nil cents last year. This includes seeking opportunities to increase our activities in originating and managing residential mortgages. The report summarised the period as a “strong first quarter performance followed by some variable trade at certain venues late in 1H19 extending into the current period”. In order to better reflect our evolving focus and business activities, Moelis Australia will progressively change the branding of its Asset Management division to MA Asset Management. 11 June 2019. Gaming revenue contributed $90.7m against a total revenue of $142.6m. ASX:RDC Income Statement, October 14th 2019. Consolidated statement of … Mr Julian Biggins and Mr Chris Wyke, both co-founders of the Company will become joint CEOs. Mr Pridham said “Having worked so closely with Julian and Chris for almost 20 years I have complete confidence that each has the experience and skills necessary to drive the ongoing growth of the Company. © Copyright 2021 Moelis Australia. Our growing network of Chinese clients continues to demonstrate the benefits of this expansion. Our initiatives in the Credit space have increased significantly over the past 12 months. it has today announced a strong 1H20 result including a 10.9% increase in distributable earnings per security and life-for-like revenue growth of 6.2%. Additional Appendix 4E disclosure requirements can be found in the Annual Report of Moelis Australia Limited which contains the Directors' Report and the 31 December 2017 Consolidated Financial Statements and accompanying notes. The current market is presenting us with many opportunities. Directors' report 3. In the second half of 2019 we were involved in raising over $2.2 billion in equity for clients across 18 transactions. These hires reflect an important long-term investment in growing our capability in Corporate Advisory & Equitiess. As we have previously stated, we believe Real Estate and Credit assets continue to be sought by our clients. Core Real Estate (~$2.2 billion of AUM primarily across shopping centres and commercial assets); Operating Real Estate (largely Hospitality) (~$1.2 billion of AUM); Credit Strategies (~$0.9 billion of AUM); and, Private Equity, Venture Capital and ASX Listed Equities (~$600 million of AUM), Net increase in AUM since the end of FY19 has been approximately $150m. This has resulted in some redemptions. Overall 2019 was a very pleasing year for Moelis Australia. Financial Report; 19 August 2020: Redcape Hotel Group Full Year 2020 Results (Issued 19 Aug 20) 19 February 2020: Redcape Hotel Group 1H20 Results (Issued 19 Feb 20) 28 August 2019: Redcape Hotel Group Full Year 2019 Results (Issued 28 Aug 19) 20 February 2019: Redcape Hotel Group 1H19 Results (Issued 20 Feb 19) Publinc; Social Responsibility; Publinc Help; Publinc … There were no associates or joint venture entities during the period. Redcape T :+61 2 9719 4000 F :+61 2 9719 4099 Email Us. Moelis Australia has a co-investment in Redcape Hotel Group of approximately $60 million. 2020 Annual General Meeting. A growing portion of our disbursement loan book is financed via the Fixed Income Fund. At the time of listing the name was changed to Moelis Australia to reflect the independent listing of the Australian business and introduction of third party shareholders. This was primarily driven by advising on an increased number of transactions compared with FY18. Redcape owns 30 of the 32 hotels it operates as a freehold going concern and 2 leasehold going concern. 28 May 2018 - Investor Day Presentation. The report also shows a focus on electronic gaming machine renewal contributed to capital expenditure costs of $2.2m. As co-founders of Moelis Australia, Chris and Julian have a deep understanding of its strategy, culture and business platform. The household name you know and trust. By actively investing in the development of our people I believe we can continue to grow our reputation as a Company people are proud and excited to work for – a benefit in recruitment, retention and achievement of career satisfaction. It also delivers a cash yield of approximately 8% per annum and potential for capital growth. Annual Financial Report 31 October 2019 _____ Sydney Swans Limited 1 Directors’ Report The directors present their report, together with the financial statements of Sydney Swans Limited (the company) for the year ended 31 October 2019. Company details Name of entity: Redcape Hotel Group comprising Redcape Hotel Trust I (ARSN 629 354 614) and Redcape Hotel Trust II (ARSN 629 354 696) Reporting period: For the year ended 30 June 2020 Previous period: For the year ended 30 June 2019 2. ^^ 557 Buy recommendations published by Intelligent Investor between 1 June 2001 and 30 June 2019 were independently verified by EY, as per the Recommendations Report; adjusted for franking, excludes admin and brokerage costs. A copy of the Hotel Property Investments audited Annual Report is attached. As at 31 December 2018, including Redcape Hotel Group head-office management. Detailed reconciliations between the Underlying and IFRS measures are provided in Moelis Australia’s 2019 Results presentation and note 3 of the Directors Report of its 31 December 2019 Consolidated Financial Report (“2019 Results”), [2] Statutory Revenue refers to Total income on the Consolidated Statement of Profit or Loss and Other Comprehensive Income, [3] Statutory Revenue refers to Total income on the Consolidated Statement of Profit or Loss and Other Comprehensive Income, [4] Statutory EBITDA is not a recognised IFRS measure but has been presented to provide a comparable measure to the Underlying Result, [5] Underlying Revenue, EBITDA, NPAT and EPS and other measures of underlying performance are not prepared in accordance with International Financial Reporting Standards (“IFRS”) and are not audited. Investor Day Presentation & … After 10 years as Managing Director and CEO of Moelis Australia, I believe that now is an appropriate time for me to transition the significant managerial aspects of the role to Julian and Chris. The largest activity for MAHM is managing and operating the hotels assets owned by ASX listed Redcape Hotel Group (ASX:RDC) being 32 venues with a gross asset value of approximately $1.2 billion. We are confident that this investment will deliver quantifiable results in terms of capital inflows, retention of clients and investment returns. About Board of directors; Executive committee; Reports; Roads & projects … Mr Biggins has been on the Board since IPO. Redcape Hotel Group comprising Redcape Hotel Trust I and Redcape Hotel Trust II Where possible we look to control the origination and underwriting standards of the credit assets we manage. Moelis Australia Independent Chairman Mr Jeffrey Browne said “Andrew is an outstanding leader, proven business builder and deal maker. The detailed report makes for interesting reading. There is some analyst coverage of the stock, but it … While Redcape faced difficult trading conditions over its six months to 30 June 2019 (Redcape has a 30June financial year end) it has today announced a strong 1H20 result including a 10.9% increase in distributable earnings per security and life-for-like revenue growth of 6.2%. This Fund has ~$250 million of AUM (up ~$130 million in FY19). We have averaged approximately $1.4 million of revenue per executive over this time having grown our average executive headcount progressively from 6 in 2010 to 46 in 2019. This report is based on the consolidated financial statements which have been audited by Deloitte Touche Tohmatsu. We maintain our view that the current opportunity in Credit is significant. Our balance sheet is strong, and we continue to identify and review exciting growth opportunities. We believe that we are well placed to continue our growth. In November 2019, a single asset Fund managed by MAHM contracted to acquire the iconic Beach Hotel in Byron Bay for $104m (before-costs) with settlement occurring on 10 February 2020. Annual General Meetings. 2020; 2019; 2018; 2017; 2016; 2015; … Overall, Asset Management Revenue which is recurring in nature, represented 74% of total Underlying Revenue for our Asset Management activities. Moelis Australia is pleased to present its financial performance for 2019 (“FY19”), provide commentary on our outlook for 2020 & beyond and detail changes to our Board and management structure. Redcape Hotel Group is a smaller company with a market capitalization of AU$607m, so it may still be flying under the radar of many institutional investors. I am proud of the business we have built at Moelis Australia and am confident of what can be achieved in the future. Access financial and company reports, presentations and webcasts; View information relating to share price and dividend history ; Register for email alerts; View ASX announcements; Access and update information held by our Share Registry; Share Price $3.20. Grand Hotel, Rockdale (-$30.2m). He will now move to the position of Group Vice Chairman effective 2nd March 2020. While Redcape faced difficult trading conditions over its six months to 30 June 2019 (Redcape has a 30June financial year end) ... Mr Wyke will be appointed to the Moelis Australia Board and his employment terms remain unchanged as set out in the 2019 Annual Report. KMP includes the non-executive directors, the Managing Director & Chief Executive Officer (“CEO”) and the Chief Financial Officer & Company Secretary (“CFO”). Key results include strong revenue growth of 17.5 per cent and operating EBITDA up 13.8 per cent for the last six months of 2018, with both primarily driven by acquisitions. View today’s RDC share price, options, bonds, hybrids and warrants. The Asset Management division produced approximately 77% of Moelis Australia’s Underlying EBITDA before corporate overheads in FY19. Prudent capital management. MAHM is an active manager of hotel assets with industry leading expertise in hotel venue management, acquiring & disposing assets and undertaking venue refurbishments. This Fund provides loans to small and medium sized enterprises backed by a combination of real estate, equipment and receivable assets. Continuing to grow Moelis Australia, as we have done over the past decade, requires a careful balance of investment, innovation and risk management. Directors The directors of the company in office at any time during or since the end of the financial year are: Andrew Pridham AO – Chairman Mr … Our pipeline of client inflows and transaction opportunities is strong. Andrew’s transition to a new role has been carefully planned and thoughtfully timed to allow Chris Wyke and Julian Biggins, who co-founded the business with Andrew and Moelis & Company in 2009, to lead the business through its next phase of growth. Corporate Advisory activity in the second half of FY19 was strong. I am a strong advocate of orderly succession planning. This information should be read in conjunction with the 2019 Annual Report. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed (dated 29th May 1991), the It is worth noting that over our first decade of operation our Corporate Advisory business has remained very consistent in terms of performance. 28 April 2021: Add to Calendar : FY21 Results Announcement. Our strong cash balance provides flexibility and assists future growth. His new executive role remains his sole commercial activity and Mr Pridham’s position as an Executive Director of Moelis Australia Limited and Director of the Moelis Australia Foundation remains unchanged. Our analysis of the ownership of the company, below, shows that institutions are noticeable on the share registry. Moelis Australia Independent Chairman Mr Jeffrey … The definition of an insider can differ slightly between different countries, but members of the … We believe that the seasonality in FY19 showed a larger second half skew as a result of the challenging capital markets in the fourth quarter of 2018 and first quarter of 2019. The underlying assets of this Fund include consumer, commercial and accounts receivable backed loans. Our large cash balance provides capacity for ongoing investment in growth. Report for the Year Ended 30 June 2018 . The group sold the Belrose Hotel for $20m in the same period, which represents a 5.1 per cent premium to book value. Presentation at Morgans Conference. Opens in new window. Capital capacity added to our growing footprint of experienced executives, diverse business activities and capital raising capability should assist us in identifying new business opportunities. Moelis Australia will recognise a performance fee of $2.4 million in 1Q20 because of this transaction. Mr Biggins has been on the Board since IPO. Redcape Hotel Group Half-Year 2020 Results 2020 - Redcape Hotel Group Management The business platform we manage today has an attractive portfolio of quality businesses. We manage assets for an increasingly diverse portfolio of Institutional, High Net Worth (“HNW”) and Retail investors. You will have the opportunity to opt out of receiving communications from us every time we contact you. REPORTS & ANNOUNCEMENTS. Statutory Revenue up 7% to $153.7 million and Underlying Revenue up 16% to $158.3 million, Acceleration of investment in people. Corporate Details. Presentation at Morgans Conference. If a company chooses to publish the data, it’s usually once a year in their Annual Report. In total, we hired 24 team members across the Group in FY19, Declaration of a fully franked Dividend of 10.0 cents per share, an increase of 25% on FY18. Annual General Meeting. Email ; Created with Sketch. Print; RDC. Corporate Advisory revenue has typically been seasonal with a clear skew to the second half. Audit, … Redcape Hotel Group (RDC) is an Australian hotel business operating a portfolio of 32 hotels located across NSW and QLD. The fourth quarter of FY19 was particularly encouraging and this strength has carried over into FY20. Key strategic hires in all areas of the business represents an investment for future growth. In order to better reflect our evolving focus and business activities, Moelis Australia will progressively change the branding of its Asset Management division to MA Asset Management. Over the course of FY19 we achieved an appropriate balance of delivering strong Underlying financial results while investing for future growth. Add to my watchlist. Moelis Australia Hotel Management (“MAHM”) is our wholly owned hospitality management business. I plan to personally drive this initiative as part of my new role. All data is manually compiled so there might be a delay between the Annual Report being published and the data appearing on Market Index (7 days for ASX 300 and up to 30 days for micro-caps). We are reviewing numerous commercial growth opportunities with a focus on expanding our activities in credit and real estate. Revenue from ordinary activities were $285.21m. Inflows into our Secured Loan Series Fund have been strong. * December 2019: Samsung Neurologica unveiled its whole-body and head CT offerings, BodyTom® Elite and OmniTom®, at the Radiological Society of North America 2019 Annual Meeting in Chicago. Chairman and Chief Executive Officer’s Letter Dear Shareholder We are pleased to present our 2018 Annual Report after another productive year of operation. Comprising Hotel Property Investments Trust (ARSN 166 484 377) and Hotel Property Investments Limited (ABN 25 010 330 515) and their controlled entities . This seasonality was particularly evident in 2019 with 70% of revenue achieved in the second half. In 2019 we achieved a record Underlying financial result and today we manage $5 billion in assets for client. The Corporate Advisory & Equities business branding will remain unchanged as Moelis Australia, reflecting the strong ongoing strategic partnership with Moelis & Company. We continue to guide to a revenue range of $1.1 million - $1.3 million per executive, noting that revenue is transactional in nature. With that in mind, Moelis Australia today announces the following key changes to its management structure and Board: Mr Andrew Pridham, as a co-founder has been CEO of Moelis Australia since 2009. Many of our early SIV investors have now reached their prescribed investment horizons and are eligible for residency. The impact of the share buy-back increases future earnings per share (“EPS”) by approximately 5%, all else being equal. This report is based on the annual financial statements for the year ended 31 December 2019 which have been audited by Deloitte The new branding aims to clearly distinguish between our Asset Management and Corporate Advisory activities while maintaining links to our heritage. [7] Our strategy has been to progressively grow our advisory headcount but with a clear focus on maintaining acceptable productivity per executive as we do so. The Moelis Academy will involve intensive formal in-house practical education in disciplines highly relevant to today’s professionals. The underlying assets of this Fund are first mortgages secured against Australian real estate. At 31 December 2019 our cash balance was $128.8 million, and this is after investing $27.2 million in a successful buy-back of 8 million shares at $3.40 per share. Over this time frame, we have continued to focus on refining proprietary systems and overall product development. REDCAPE HOTEL GROUP; Viewed 10,240 times by 3014 users (Last 30 days) Created with Sketch. We continue to grow our reputation and capability in ECM services in Australia. In 2019 Moelis Australia celebrated its tenth year of operation and pleasingly delivered a strong financial performance – highlighted by record Statutory and Underlying Revenue. We have made significant investment in people (24 hires in 2019), technology and offices to assist in growing our capacity to raise and manage third-party funds in our various investment strategies. Navigation. I look forward to having greater time to focus my professional efforts on clients, revenue generation, identifying strategic growth opportunities, and developing our executives. Total AUM is one metric that indicates overall scale and growth in Asset Management. 2019 – Strong Business Growth and Increased Dividend, Private equity and venture growth capital, backed by a combination of real estate, equipment and receivable assets. Changes to Moelis Australia Management Structure and Board. 1. Statutory EBITDA down 8% ($52.0 million down from $56.2 million), Statutory Net Profit after Tax down 23% ($23.5 million down from $30.5 million), Cash and cash equivalents up 49% ($128.8 million up from $86.7 million), Net Tangible Assets per share of $1.36 (down ~5% from $1.43), Fully franked Dividend of 10.0 cents per share (up 25% from 8.0 cents per share), Shares on Issue at 31 Dec 2019 ~146.6 million (down ~5% on 31 Dec 2018 following buy-back), Underlying Revenue up 16% ($158.3 million up from $136.3 million), Underlying EBITDA up 6% ($63.5 up from $59.8 million), Underlying Net Profit after Tax up 2% ($40.2 million up from $39.3 million), Underlying EPS up 3% (26.5 cents up from 25.7 cents), The addition of a $6.4 million performance fee relating to our management of Redcape Hotel Group. So it could gain more attention, down the track. Redcape Hotel Reports Net Loss of $4.93m for the Year to 30 June 2019. Redcape Hotel Group Management Ltd (ACN 610 990 004) (AFSL 505932) is the responsible entity of Redcape Hotel Trust I (ARSN 629 354 614) and Redcape Hotel Trust II (ARSN 629 354 696) (together “Redcape” or “Redcape Hotel Group”). The 2020 AGM was held on Wednesday 21 October 2020 at 10:30 am (Hobart time). $50m in December 2018 for three South Coast venues. Results for announcement to the market Consolidated 2020 Consolidated 2019 … This investment delivers strong alignment with Redcape’s security holders. Our formal programmes will be largely developed and lead by our own highly experienced senior executives. Annual Report … Overall, the net flow of SIV capital to our funds continued to grow in FY19. This included acting on eight IPOs, which includes three of Australia’s largest 10 IPOs. 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