External broker reports(aggregated public sources), Wilsons Advisory

Wilsons Advisory

External broker reports(aggregated public sources)

Wilsons has a distinguished history in financial services that spans over 125 years. Today, the group has significant capabilities in private wealth management, corporate finance, research and investment strategy, and institutional sales. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<div><div><div><ul><li>Equity Trustees reported 1H23a EBIT of $20.3m (+1.3% vs. WILSe).</li><li>Revenue growth was achieved across all verticals through organic growth and the consolidation of AET (acquired in November 2022).</li><li>Underlying FUMAS growth was flat yoy, due to market volatility but benefited from AET (inc. platforms). </li></ul></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Equity Trustees reported 1H23a EBIT of $20.3m (+1.3% vs. WILSe).Revenue growth was achieved across all verticals through organic growth and the consolidation of AET (acquired in November 2022).Underlying FUMAS growth was flat yoy, due to market volatility but benefited from AET (inc. platforms). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EQT Holdings (EQT) - O/W: Super(Annuation) Consistent

<ul><li>Outlook: No quantitative guidance. EQT confident in strategy, seeing ongoing opportunities for growth and encouraged by revenue and FUMAS increases.  AET acquisition on track to deliver synergies.</li><li>Revenue: Total revenue of $62.8m was +2.4% vs WILSe with the stronger than expected result driven by beats in STS and interest from managed fund distributions, with a partial offset from weakness in TWS due to adverse equity markets.</li><li>STS revenue was the standout, +7.9% yoy to $11.3m, driven by increased demand for the independent trustee model driving two new client wins (Super Simplifier and Raiz Invest adding $0.9m and $0.1m in FUMAS).</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Outlook: No quantitative guidance. EQT confident in strategy, seeing ongoing opportunities for growth and encouraged by revenue and FUMAS increases.  AET acquisition on track to deliver synergies.Revenue: Total revenue of $62.8m was +2.4% vs WILSe with the stronger than expected result driven by beats in STS and interest from managed fund distributions, with a partial offset from weakness in TWS due to adverse equity markets.STS revenue was the standout, +7.9% yoy to $11.3m, driven by increased demand for the independent trustee model driving two new client wins (Super Simplifier and Raiz Invest adding $0.9m and $0.1m in FUMAS).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EQT Holdings (EQT) - 1H23 Result: First Impressions

<ul><li>EQT Holdings received Ministerial Approval for the acquisition of Australian Executor Trustees (AET) yesterday.</li><li>We take this opportunity to consolidate our forecasts.</li><li>We continue to view the acquisition, which results in FUMAS +3.9%, EBITDA +16.3%, NPAT +17.3% and EPS +6.4% in FY23e favourably, and are encouraged by geographic and product opportunities available in the long-term, particularly in Philanthropy and Health &amp; Personal Injury. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

EQT Holdings received Ministerial Approval for the acquisition of Australian Executor Trustees (AET) yesterday.We take this opportunity to consolidate our forecasts.We continue to view the acquisition, which results in FUMAS +3.9%, EBITDA +16.3%, NPAT +17.3% and EPS +6.4% in FY23e favourably, and are encouraged by geographic and product opportunities available in the long-term, particularly in Philanthropy and Health &amp; Personal Injury. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EQT Holdings (EQT) - O/W: Long-Term Opportunity

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<li>EQT Holdings held its AGM today and provided a 1Q23a trading update.</li>
<li>Positively, EQT’s underlying business is performing well due to solid execution on pipeline and onboarding of new clients.</li>
<li>However, parts of EQT’s broader business (CTS) have been negatively impacted by volatile global equity markets, whilst client mandate losses and the withdrawal of a large wholesale trustee client also culminated in 1Q23a. </li>
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<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>





EQT Holdings held its AGM today and provided a 1Q23a trading update.
Positively, EQT’s underlying business is performing well due to solid execution on pipeline and onboarding of new clients.
However, parts of EQT’s broader business (CTS) have been negatively impacted by volatile global equity markets, whilst client mandate losses and the withdrawal of a large wholesale trustee client also culminated in 1Q23a. 




Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EQT Holdings (EQT) - O/W: Acquisition on Track

<div><div><div><ul><li>EQT Holdings reported FY22a EBIT of $39.7m, at the top end of the consensus range for $39.0- 41.0m.</li><li>Revenue was mixed by vertical and driven by unfavourable market driven FUMAS movements, despite a strong contribution from CTS.</li><li>A partial offset was achieved through lower than expected operational expenses, bringing NPAT largely in line. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p></div></div></div>

EQT Holdings reported FY22a EBIT of $39.7m, at the top end of the consensus range for $39.0- 41.0m.Revenue was mixed by vertical and driven by unfavourable market driven FUMAS movements, despite a strong contribution from CTS.A partial offset was achieved through lower than expected operational expenses, bringing NPAT largely in line. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EQT Holdings (EQT) - O/W: Strong Result Despite Volatility

Australia

Equity Holdings Limited provides personal trust and financial services to customers in Australia.   Services include will and estate planning, trustee for settlements, financial guardian, investment and property management and fund investments. Other services provided by the company  include income tax services, short term share trading and mortgage loans and investments.

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EQT Holdings (EQT AU)

EQT Holdings (EQT) - O/W: Super(Annuation) Consistent

Equity Trustees reported 1H23a EBIT of $20.3m (+1.3% vs. WILSe). Revenue growth was achieved across all verticals through organic growth and the...

Wilsons Advisory

EQT Holdings (EQT) - 1H23 Result: First Impressions

No quantitative guidance. EQT confident in strategy, seeing ongoing opportunities for growth and encouraged by revenue and FUMAS increases.

Wilsons Advisory

EQT Holdings (EQT) - O/W: Long-Term Opportunity

EQT Holdings received Ministerial Approval for the acquisition of Australian Executor Trustees (AET) yesterday. We take this opportunity to...

Wilsons Advisory

EQT Holdings (EQT) - O/W: Acquisition on Track

EQT Holdings held its AGM today and provided a 1Q23a trading update. Positively, EQT’s underlying business is performing well due to solid...

Wilsons Advisory

EQT Holdings (EQT) - O/W: Strong Result Despite Volatility

Revenue was mixed by vertical and driven by unfavourable market driven FUMAS movements, despite a strong contribution from CTS.

Wilsons Advisory

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