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CHALLENGER LIMITED — Earnings Release 2021
Aug 9, 2021
64641_rns_2021-08-09_115f0ed4-e560-4d2c-b873-2d5042d3295a.pdf
Earnings Release
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Challenger Limited 2021 Preliminary Financial Appendix 4E
Under ASX Listing Rule 4.3A for the year ended 30 June 2021
| Current period | 1 July 2020 to 30 June 2021 | 1 July 2020 to 30 June 2021 | ||
|---|---|---|---|---|
| Prior corresponding period (pcp) | 1 July 2019 to 30 June 2020 | |||
| 2021 | 2020 | Change | Change | |
| Results for announcement to the market | $m | $m | $m | % |
| Revenue from ordinary activities | 2,785.7 | 1,132.8 | 1,652.9 | 145.9 |
| Profit/(loss) from ordinary activities after tax attributable to | ||||
| equity holders | 592.3 | (416.0) | 1,008.3 | large |
| Net profit/(loss) for the period attributable to equity | ||||
| holders1 | 592.3 | (416.0) | 1,008.3 | large |
1 Share of profit of associates is $35.2 million (pcp: $29.3 million).
Statutory net profit after tax, which includes investment experience, being the valuation movements on assets and liabilities supporting the Life business, was a profit of $592.3 million (30 June 2020: loss of $416.0 million), up $1,008.3 million. The prior period was severely impacted by investment market volatility as a result of the impact of COVID-19 uncertainty.
Normalised net profit after tax, management’s preferred measure of profit, for the year ended 30 June 2021 decreased by 19.0% to $278.5 million (pcp: $343.7 million). Refer to Note 3 Segment information in the 2021 Annual Report for a definition of normalised net profit after tax and the reconciliation to the statutory profit for the period.
| 2021 | 2020 | Change | |
|---|---|---|---|
| Dividend information | cents | cents | % |
| Interim per ordinary share – 100% franked (2020 interim: 100% franked) | 9.5 | 17.5 | (45.7) |
| Final per ordinary share – 100% franked (2020 final: no dividend declared) | 10.5 | — | — |
| Total dividendsper share for theyear | 20.0 | 17.5 | 14.3 |
The Challenger Limited Board will continue the Dividend Reinvestment Plan (DRP). The dividend will be paid on 22 September 2021. For any reinvestment of this dividend, the Board has determined that new shares will be issued to fulfil DRP requirements. The new shares will not be issued at a discount to the prevailing Challenger share price.
| Dividend information | |
|---|---|
| Ex-dividend date | 30 August 2021 |
| Record date | 31 August 2021 |
| Final Dividend Reinvestment Plan election date | 1 September 2021 |
| Payment date | 22 September 2021 |
| 30 June | 30 June | |
|---|---|---|
| 2021 | 2020 | |
| Net tangible assetsper security | $m | $m |
| Net assets | 3,825.8 | 3,249.6 |
| Less: | ||
| - Right-of-use lease asset | 34.7 | 32.4 |
| - Goodwill | 579.9 | 579.9 |
| - Intangible assets | 9.2 | 18.1 |
| Net tangible assets | 3,202.0 | 2,619.2 |
| Ordinary shares (number - million) | 672.6 | 663.1 |
| Net tangible assetsper security ($) | 4.76 | 3.95 |
Other disclosure requirements
Additional ASX Appendix 4E (Listing Rule 4.3A) disclosures can be found in the 2021 Annual Report lodged separately from this document. This document should be read in conjunction with the 2021 Annual Report, 2021 Annual Review and any public announcements made in the period by the group in accordance with the continuous disclosure requirements of the Corporations Act 2001 and ASX Listing Rules.
This preliminary financial report under ASX Listing Rule 4.3A covers Challenger Limited and its controlled entities, and is based on the separately lodged consolidated financial statements and financial report which have been audited by Ernst & Young.
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Challenger Limited 2021 Preliminary Financial Appendix 4E
| Cross reference index for other disclosures included in 2021 Annual | |
|---|---|
| Report | Page/Reference |
| Operating and financial review | 2 |
| Statement of comprehensive income and notes | 57 |
| Statement of financial position and notes | 58 |
| Statement of changes in equity | 59 |
| Statement of cash flows and notes | 60 |
| Earnings per share | 94 |
| Details of associates and joint ventures | 107 |
| Other significant information | 15 |
| Foreign entities | International Financial Reporting Standards |
| Audit | 122 |
Authorisation
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Linda Matthews Company Secretary
9 August 2021
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