In December, we raised capital into our newest credit Fund, The Moelis Australia Private Credit Fund. Add to my watchlist. We note that hedge funds don't have a meaningful investment in Redcape Hotel Group. The results of the AGM were published on the ASX are available here Opens in new window. Prior to our Initial Public Offering (“IPO”) in early 2017, Moelis Australia operated under the single trading name of Moelis & Company. 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. We are reviewing numerous commercial growth opportunities with a focus on expanding our activities in credit and real estate. Where possible we look to control the origination and underwriting standards of the credit assets we manage. Let's take a closer look to see what the different types of shareholder can tell us about RDC. By signing up to receive our insights/ASX updates you may also receive occasional relevant communications and special notifications from Moelis Australia via email. [6] The previously reported FY18 Underlying EBITDA result of $57.5 million has been adjusted by $2.3 million to reflect the estimated impact of AASB 16 Leases should it have been applied in 2018. Andrew Pridham appointed Moelis Australia Group Vice Chairman; and, Julian Biggins and Chris Wyke appointed Joint Chief Executive Officers of Moelis Australia. Annual General Meetings. The final dividend declared was 4.34 cents, taking … 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. Our formal programmes will be largely developed and lead by our own highly experienced senior executives. 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. 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. 5 November 2020: Add to Calendar : 1H21 Results Announcement. Importantly, our senior executive team is motivated, experienced and has genuine depth. You will have the opportunity to opt out of receiving communications from us every time we contact you. We believe this dynamic will persist over the medium to long-term in the Australian market and we are focused on increasing our presence in credit. This increase includes the impact of the February 2020 settlement of the Beach Hotel Byron Bay (+$104 million) and the disposal of the. Redcape Hotel Group's dividend payments per share have declined at 27% per year on average over the past two years, which is uninspiring. Total profit decreased by 16.85% due to lower year on … In 2019 we achieved a record Underlying financial result and today we manage $5 billion in assets for client. Comprising Hotel Property Investments Trust (ARSN 166 484 377) and Hotel Property Investments Limited (ABN 25 010 330 515) and their controlled entities . Detailed reconciliations between the Underlying and IFRS measures are provided in Moelis Australia’s 2019 Results presentation and in note 3 of the Directors Report of its 31 December 2019 Consolidated Financial Report (“2019 Results”). Overall 2019 was a very pleasing year for Moelis Australia. If a company chooses to publish the data, it’s usually once a year in their Annual Report. Moelis Australia Independent Chairman Mr Jeffrey Browne said “Andrew is an outstanding leader, proven business builder and deal maker. The Commonwealth Government is undertaking a review of the Terms of the business and investment visa programme which poses the question “can Australia get a better deal?”. Moelis Australia will recognise a performance fee of $2.4 million in 1Q20 because of this transaction. Redcape owns 30 of the 32 hotels it operates as a freehold going concern and 2 leasehold going concern. Mr Biggins has been on the Board since IPO. Our growing network of Chinese clients continues to demonstrate the benefits of this expansion. Investor Day Presentation & … ASX announcements. 09 October 2019. However, we have been successful in retaining the investment funds of many SIV clients within our portfolio of available funds. Presentation at Morgans Conference. Redcape Hotel reported net loss of $4.93m for the year ended 30 June 2019. We manage assets for an increasingly diverse portfolio of Institutional, High Net Worth (“HNW”) and Retail investors. Our market leading position in the SIV programme and service to Chinese clients was recognised by winning the 2019 AUSTCHAM Westpac Business Excellence Award for Professional and Business Services. Corporate Details. A compound annual growth rate (CAGR) of … More. Moelis Australia has approximately $57 million of core borrowings. Over this time frame, we have continued to focus on refining proprietary systems and overall product development. Overview; Created with Sketch. This report is based on the annual financial statements for the year ended 31 December 2019 which have been audited by Deloitte Facts and figures are current as at 19 August 2020. 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. Overall, Asset Management Revenue which is recurring in nature, represented 74% of total Underlying Revenue for our Asset Management activities. 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