mit viel,viel Text...
Ich persoenlich bin nicht mehr investiert, aber wuerde bei einem Kurs unter 2.20 Euro wieder einsteigen- mittelfristig sehe ich hier ein Potential bis zu 4.50 Euro.
E*TRADE Australia - Strong September '99 Quarter Growth
Sydney, 25 October 1999
E*TRADE Australia (ASX Code: ETR), a leading provider of Internet
stockbroking services (www.etrade.com.au), experienced strong growth in its
business during the quarter ended 30 September 1999.
* E*TRADE now accounts for 28% of all online trades executed on the
* September quarter brokerage revenue up 30% on June quarter
* Customer accounts exceed 27,500 - up 40% since 30 June 1999
* Customer assets up 31% since 30 June to $1.06 billion
* October market participation averages 4.5% of all trades on the ASX
After just 18 months since launching its online service, E*TRADE Australia's
name is frequently listed amongst Australia's top 10 most active brokers by
volume of shares traded daily on the ASX *. E*TRADE Australia estimates its
current share of online trades on the ASX is 28%.
The number of customer accounts increased during the current quarter and
today exceeds 27,500 (an increase of 40% since 30 June 1999). E*TRADE
Australia's participation (as either a buyer or seller) in trades executed
on the ASX, increased significantly. It currently participates in an average
of 4.5% per cent of all trades executed on the ASX in October, up 58% on the
average for June 1999.
Brokerage revenue (unaudited) for the quarter ended 30 September 1999
exceeded the 30 June 1999 quarter by 30%. The current value of registered
customer assets (cash and securities) is $1.06 billion, up 31% since 30 June
E*TRADE Australia's Chief Executive, Kerry Roxburgh said "We did well this
quarter to increase our market share and prepare our systems and staff for
the launch of the ANZ E*TRADE Online Investing Service on 30 September. We
are clearly Australia's second largest online securities house. On my
reading of the market, our growth last quarter in market share has
outstripped the competition. Whilst final figures are not available, we
were pleased to see something like one in four of our accounts were
allocated stock in the recently completed T2 offering."
Investor Relations Site
E*TRADE Australia will soon launch a comprehensive INVESTOR RELATIONS site,
accessible from their home page www.etrade.com.au offering investors
a wide variety of information including:
* current share prices and graphs
* the latest Annual Report and half yearly report to shareholders
* a notice board with ASX releases
* a list of analysts covering ETR
* news feed of recent announcements
* corporate history and milestones
* share and option holder information
* I.P.O. participation
Chairman Malcolm Spry said today "It is appropriate that as an online
broker, E*TRADE Australia will keep shareholders fully informed via a click
through from our home page. Our shareholders, including those numerous
foreign investors in E*TRADE Australia will find our investor relations site
the most reliable and convenient source of current information about their
investment. We expect this service to be available in November."
E*TRADE Australia's Annual General Meeting will be held in the Exchange
Square Auditorium at 18 Bridge Street, Sydney, New South Wales at 10:30am on
Tuesday, 23rd November 1999.
Annual Report to Shareholders
The 1999 Annual Report was lodged at the ASX and mailed to shareholders last
Friday. This report contained the following letter from the Chairman and
report by the Chief Executive Officer.
It gives me great pleasure to report on a year of enormous progress for the
company which has undergone a great deal of restructuring for the benefit of
Over the course of the last year, we have:
* Changed the name of the company from Nova Pacific Capital Limited to
ETRADE Australia Limited to better reflect our online financial services
* Successfully established ETRADE Australia Securities Limited as a
leading online broking business in Australia.
* Spun off our subsidiary, International Contract Manufacturing
Limited (INC), into a successful publicly listed company with consequent
benefits for shareholders.
* Significantly increased cash resources which currently exceed $30
* Developed strategic alliances with ComputersShare Limited and The
ANZ Banking Group who have both become substantial shareholders.
These initiatives have been very well accepted by the investment community
and I am pleased to say they have led to a substantial increase in
shareholder wealth over the last twelve months.
Whilst the company incurred a loss of $8.021million in the online financial
services business, the overall net loss for the year was reduced to $3.9
million owing to an abnormal gain of $5.048 million from the divestment of
INC. The loss in ETRADE Australia Securities Limited was in line with the
markets expectations as the company had made a significant investment in
technology, human resources and marketing to build the E*TRADE Australia
brand and market share.
It should be noted that the decline in revenue compared to the previous year
was due entirely to the INC divestment. $5 million of total revenue
generated was earned in the online broking business and this figure will be
substantially higher in the current year.
Since E*TRADE Australia was launched in April 1998 over 25,000 customers
have joined the service making it the second largest online broker in
Australia. In the year ended June 1999, more than 136,000 trades were
executed through E*TRADE Australia with a total value of $1.1 billion. We
estimate that E*TRADE Australia currently executes around 25% of all online
trades and enjoys a market participation rate of 3.7% of all ASX trades. As
at 30 June 1999 our customers had registered assets (cash and shares) with a
total value of $825 million. This amount passed $1 billion in September.
Results to date underpin the Board's confidence in the future of E*TRADE
Australia and we will continue to invest heavily in building market share
and volume as the online trading segment continues its rapid growth. Our
recent alliance with the ANZ Banking Group will accelerate this growth as
the bank actively markets the ANZ E*TRADE Australia Online Investing service
to its three million customer base in Australia.
E*TRADE Australia intends to remain at the forefront of product innovation
as the Group Chief Executive Kerry Roxburgh outlines in his report and I
have no doubt the business will continue to make very rapid gains again over
the next twelve months.
Finally, on behalf of my fellow Directors I would like to take this
opportunity to express our sincere thanks to the management and staff who
have worked tirelessly to build this most enterprising company. From a
handful of people a couple of years ago we now have a total of 50 team
members, many of whom have spent the last twelve months working above and
beyond what could normally be expected. Any business that has grown as fast
as E*TRADE Australia demands a great deal of our associates and we are
particularly proud of their magnificent response.
Chief Executive Officer's Report
I have not seen it before and I don't expect to again witness the
opportunity we have had these past 14 months, to carve out such a
significant brand presence in so short a period. Our recent market research
reports E*TRADE Australia is the most recognised online stockbroking name in
The team at E*TRADE Australia are resolute in their determination to see
this business become the leading online investment site in Australia and New
Following completion of the first full financial year, I wish to pay tribute
to all those people and to our partners who have played a role in bringing
the E*TRADE brand to Australia.
First, to E*TRADE Group, Inc. whose system and brand name is proving so
successful. To the project launch team, our alliance partners and our
outstanding staff who have so effectively dared to do something that is
different by "creating change". Next, to my fellow directors who have not
deviated from their course, when their vision and courage was sometimes
Finally, to our customers, the most important part of the equation. These
are the people, prepared to trial a new medium and to stay with us as we
strive to perfect our delivery system and to improve their experience. Our
customer support has made it all worthwhile - thank you!
ONLINE FINANCIAL SERVICES
Commencing in May 1996, we set about building an entirely new channel to
empower individual investors in the Australian stock market. In April 1998,
E*TRADE Australia launched the beginning of Australia's first totally
electronic global financial markets trading system.
Currently, E*TRADE Australia executes approximately 25% of all online trades
transacted over the Australian Stock Exchange. Our licensor, E*TRADE Group,
Inc. are positioning their brand to be the global leader and recognised
authority in electronic personal financial services, enabling self-directed
consumers to realise their financial goals - and to do so in a way that is
consistent with our brand values.
Since launching in April 1998, we have made significant progress in
Australia towards fulfilling our mission. This is clearly reflected in our
key achievements, including:
* Broadening our financial product and service offerings to include
Market Depth; Company Profiles and most recently - BigCharts
* Being the first broker in Australia to be certified by the ASX to
offer "Straight Through Processing"
* Aggressively building our brand, through advertising and promotion
to the point where consumers now consider E*TRADE Australia the most
recognised online stockbroking brand
* Formation of strategic alliances with Computershare Limited
involving a cash injection of $24.3 million and with ANZ Banking Group, who
are responsible for marketing ANZ E*TRADE Online Investing Service to their
3 million customers. In return they will earn an equity interest in E*TRADE
Australia, based upon trades executed by ANZ customers, over a 3 year period
As an interactive medium, the internet has allowed E*TRADE Australia to
offer customers outstanding value for money in the form of free investment
tools and information, execution and free record keeping - all this adds up
to a compelling customer proposition and experience.
FINANCIAL RESULTS 1998/9
The financial year ended 30 June 1999 produced a net loss of $3.9 million
(1998: $6.6 million) from consolidated revenue of $18.8 million (1998: $22.2
million). Shareholders' equity grew to $32.5 million, from $16.9 million
last year. Our financial position strengthened to more than $30 million in
cash and bank bills, providing ample reserves to fund operations and to
expand the business in the foreseeable future.
Our results this year reflected the comments I made in the Annual Report
last year. I said, it was "important for shareholders to be aware E*TRADE
Australia will for the next two years be a start-up business, requiring
substantial investment in marketing the E*TRADE brand and building its
product range for Australian and New Zealand investors. As such we will
continue to incur losses until our client base is sufficient to support
revenues which exceed costs."
In November 1998, shareholders approved a change in the company's name to
ETRADE Australia Limited. In May 1999, a Court approved capital return of
$6.8 million was made to ETRADE Australia Ltd shareholders, in the form of a
pro-rata entitlement to listed shares in International Contract
ALLIANCES WITH COMPUTERSHARE AND ANZ BANK
In April 1999, Computershare became a substantial shareholder following a
placement for cash of 6.6 million shares at $3.00 to raise $19.9 million.
In August, shareholders approved a further issue of 1,489,599 shares to
Computershare, raising their equity interest in E*TRADE Australia to 13.5%.
In June 1999, agreement was reached with ANZ Bank for the E*TRADE Australia
online service to be offered to ANZ Bank customers. On 25 August,
shareholders approved the terms of this alliance which offers ANZ Bank the
opportunity to earn up to 40% equity in E*TRADE Australia based upon trades
executed by customers introduced by ANZ Bank. The deal requires ANZ to
accept responsibility for all marketing costs to encourage their 3 million
customers to open accounts and to invest through E*TRADE Australia.
Shares issued to ANZ Bank in the 3 year period ending 30 September 2002 will
be for non-cash consideration. This may have a significant impact on the
profit and loss account, and the non-cash consideration maybe written off as
an abnormal expense.
For example, in the half year to 31 December 1999, an amount of
approximately $41.7 million maybe expensed, being the non-cash value of the
6 million shares issued to ANZ Bank in August 1999.
In 1998 I said we would "continue to benefit from the exclusive licence from
E*TRADE Group, Inc
(a) to become the first truly international online financial services
(b) introduce new products and establish strategic alliances with some
of the largest traditional financial service providers in Australia
(c) continue to grow our existing online broking service utilising the
clear technological edge that the E*TRADE system offers
In 1998/9 we have certainly seen this and it remains our intention to follow
the successful business model developed by E*TRADE Group, Inc. in the United
Growth in customer numbers in 1998/9 was strong. The following graphs show
the quarterly growth in active accounts and the number of trades executed
>from the E*TRADE Australia website:
The value of customer assets (cash on deposit and CHESS sponsored
securities) has also shown good growth. I am pleased to say that at
$40,000, our average account value compares favourably with the experience
of E*TRADE Group, Inc. The following graph shows the position at end of
June and September 1999:
The alliance with ANZ was an essential element in our business plan. E*TRADE
Australia is already the preferred online choice of many local investors and
the launch on 30 September of the ANZ E*TRADE Online Investing service
further consolidates our competitive position, bringing us a step closer
towards our stated goal of being Australia's number one online broker. In
the near term, we will concentrate our efforts to continue growing the
E*TRADE brand in Australia and New Zealand. We will be adding new content
and services demanded by our customers, to enhance their investment
opportunities and increase our market participation rate.
This financial year, E*TRADE Australia plan to offer online services
* active investors
* investors in managed funds
* professional fund managers
* initial public offerings
* financial planners
* cross-border investors
We will also consider new business opportunities and acquisitions that can
be integrated with or enhance our existing business. These might bring
valuable content to our web site, increase volumes through our trading
platform or broaden our online market and geographic reach. We are
currently planning to launch fully automated online trading on the New
Zealand Stock Exchange, early in the year 2000.
Currently online investors participate in approximately one trade in every
seven executed on the Australian market. If the US market is any guide,
this financial year we anticipate online investors will become much more
evident in Australia and New Zealand as they embrace the opportunity to
manage their own investments. E*TRADE Australia looks forward to the coming
financial year with confidence and excitement about our ability to satisfy
our customers' expectations
Remember - "Someday, we'll all invest this way"
E*TRADE Australia Launches Investor Relations Web Site
* Features "BigCharts"
* Key financial information
* Company overview and historical data
* Up-to-date media and ASX announcements
Sydney, 1 November 1999 - E*TRADE Australia (ASX Code: ETR), a leading
provider of Internet stockbroking services, today launched its Investor
Relations Web site, accessible from www.etrade.com.au.
"Our new investor relations web site accesses BigCharts which is usually
only available from our secure site for account holders. We receive many
calls and emails each day from shareholders and prospective shareholders
asking for all types of data about E*TRADE Australia, including copies of
recent media releases and ASX announcements," said Kerry Roxburgh, Group
Chief Executive Officer. "Designed to provide a top level service to our
shareholders and prospective investors, the new Investor Relations site
meets this need by supplying the latest, most comprehensive information on
the company to anyone who requires it, including the growing number of
shareholders who reside overseas."
The new site offers visitors access to key financial information about
E*TRADE Australia such as a 12 month price chart detailing the daily
open/high/low/close price and volume traded on the ASX, 1998 and 1999 Annual
Reports, financial summary, share capital and unlisted options for the
Other information available from the Investor Relations Web site includes:
* company overview and contact details;
* up-to-date media releases;
* details of analysts who cover E*TRADE Australia;
* IPO history;
* background on the directors;
* company history and milestones; and
* strategic alliances.
In the near future, the site will also feature the latest ASX announcements.