Computershare : Annual Report 2020

ANNUAL REPORT

This financial report covers the consolidated entity consisting of Computershare Limited and its controlled entities.

The financial report is presented in United States dollars (USD), unless otherwise stated.

Computershare Limited is a company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is:

Computershare Limited

Yarra Falls

452 Johnston Street, Abbotsford

Victoria 3067 Australia

The financial report was authorised for issue by the directors on

21 September 2020. The company has the power to amend and reissue the financial report.

A separate notice of meeting including a proxy form is enclosed with this financial report.

CONTENTS
OVERVIEW
Financial Highlights ................................................................	3
Financial Calendar ..................................................................	3
Chairman's Report ..................................................................	4
CEO's Report ............................................................................	6
Computershare at a Glance ..................................................	9
Key Financial Metrics ...........................................................	11
Issuer Services .......................................................................	13
Employee Share Plans .........................................................	14
Mortgage Services.................................................................	15
Business Services ..................................................................	16
Sustainability ..........................................................................	17
Community .............................................................................	19
People ......................................................................................	21
Group operating overview ...................................................	23
Business strategies and prospects....................................	25
GOVERNANCE
Corporate Governance Statement ....................................	27
Directors' Report....................................................................	40
Auditor's Independence Declaration ................................	59

FINANCIALS
Consolidated Statement of Comprehensive Income	...60
Consolidated Statement of Financial Position .............	61
Consolidated Statement of Changes in Equity ............	62
Consolidated Cash Flow Statement .................................	63
Notes to the Consolidated Financial Statements .........	64
REPORTS
Directors' Declaration .......................................................	121
Declaration to the Board of Directors ..........................	122
Independent Auditor's Report ........................................	123
FURTHER INFORMATION
Shareholder information ..................................................	130
Corporate directory ...........................................................	131

The Chairman's Report, CEO's Report, Group Operating Overview and Business Strategies and Prospects comprise our Operating and Financial Review (OFR) and form part of the Directors' Report. The information included in the Overview section of the report contains various measures which are non-IFRS in nature and not aligned to the Financial section of the Annual Report (Page 60 - 120).

FINANCIAL HIGHLIGHTS

		June 2020	June 2019	% Change
Statutory results
Total revenue		2,277.3 million	2,346.0 million	-2.9%
Net profit after non-controlling interests (NCI)		232.7 million	415.7 million	-44.0%
Statutory earnings per share		42.97 cents	76.57 cents	-43.9%
Management adjusted results
Management EBITDA		646.4 million	674.9 million	-4.2%
Management net profit after NCI		303.8 million	381.4 million	-20.3%
Management earnings per share		56.12 cents	70.24 cents	-20.1%
Management earnings per share (in constant currency)		56.34 cents	70.24 cents	-19.8%
Balance sheet
Total assets		4,989.8 million	4,685.0 million	6.5%
Total shareholders' equity		1,590.3 million	1,574.1 million	1.0%
Performance indicators
Free cash flow (excluding SLS advances)		505.9 million	312.9 million	61.7%
Net debt to management EBITDA (excluding non-recourse debt)*		1.93 times	1.84 times	Up 0.09 times
Return on equity*		19.50%	26.40%	Down 690bps
Staff numbers		12,646	12,701

For a reconciliation between statutory and management adjusted results, refer to note 4 in the notes to the financial statements.

• These financial indicators are based on management adjusted results. Management adjusted results are used, along with other measures, to assess operating business performance. The Group believes that the exclusion of certain items permits better analysis of the Group's performance on a comparative basis and provides a better measure of underlying operating performance. Management adjusted results are quoted in constant currency (CC) unless otherwise stated. Constant currency equals FY20 results translated to USD at FY19 average exchange rates.

FINANCIAL CALENDAR

2020			2021
	19 August	Record date for final dividend		10 February
	14 September	Final dividend paid
	11 November	The Annual General Meeting of
		Computershare Limited
		ABN 71 005 485 825
		Location:	Online - refer to Notice of Meeting
			for details
		Time:	9.00am

Announcement of financial results for the half-year ending 31 December 2020

3 | COMPUTERSHARE | ANNUAL REPORT | 2020