experience vlerick day - mathieu luypaert brussels

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  • 1. Vlerick Business School #experiencevlerick1

2. FINANCE IN THE NEWS 3. Vlerick Business SchoolSTOCK MARKET EVOLUTION (S&P 500)#experiencevlerick3 4. Vlerick Business SchoolSTOCK MARKET EVOLUTION (EUROSTOXX 50)#experiencevlerick4 5. Vlerick Business SchoolUNREST IN MIDDLE EAST#experiencevlerick5Stock market reactionJanuary-February 2011 6. Vlerick Business SchoolIMPACT EARTHQUAKE JAPAN#experiencevlerick6Hurricane Katarina (S&P 500), 2005Tsunami (Sri Lanka All Share), 2004Pearl Harbour (DJI), 1941Earthquake Kobe (Nikkey 225), 1995September 11 2001 (S&P 500)Recent earthquake(Nikkey 225), 2011 7. Vlerick Business SchoolEUROPEAN PUBLIC DEBT LEVELSPublic debt 2012 (%GDP)EU (27 ) 85.3Belgium 99.6Germany 81.9Ireland 117.6Greece 156.9Spain 84.2France 90.2Italy 127.0Luxembourg 20.8Netherlands 71.2Austria 73.4Poland 55.6Portugal 123.6United Kingdom 90.0#experiencevlerick7 8. Vlerick Business School #experiencevlerick8 9. Vlerick Business SchoolBELGIAN GOVERNMENT BONDS 10Y#experiencevlerick9 10. Vlerick Business School #experiencevlerick10 11. Vlerick Business School #experiencevlerick11 12. Vlerick Business SchoolCONFIDENCE LEVELS REMAIN LOW#experiencevlerick12 13. Vlerick Business School #experiencevlerick13 14. Vlerick Business SchoolRAISING EQUITY: IPOS Fashion: Samsonite (Hong Kong): $1.25 bio Prada (Hong Kong): $2.14 bio Internet/Social media: Linkedin (NYSE): $405 mio Groupon (Nasdaq): $700 mio Facebook (Nasdaq): $16 bio Zynga Farm Ville (Nasdaq): $1 bio Workday (NYSE): $637 mio Bankia (Madrid): 3.1 bio Japan Airlines (Tokyo): 6.3 bio Evonik (Frankfurt): 2 bio Seaworld (NYSE): $700 mio14 #experiencevlerick 15. Vlerick Business School #experiencevlerick15 16. Vlerick Business SchoolFACEBOOK IPO Amount raised: $ 16 bio ($38 x 421 mio) Total Valuation: $104 bio Dual-class shares Zuckerberg has 18% ownership but 57% of votingrights At market value of $104 bio: 900 mio users $115/user Revenues: $ 4.04 bio P/S= 26 Profit: $ 720 mio P/E= 144#experiencevlerick16 17. Vlerick Business SchoolFACEBOOK IPO#experiencevlerick17 18. Vlerick Business School #experiencevlerick18 19. Vlerick Business School #experiencevlerick19 20. Vlerick Business School #experiencevlerick20 21. Vlerick Business School #experiencevlerick21 22. Vlerick Business SchoolB-POST FIRST IPO IN BRUSSELS IN MORETHAN THREE YEARS#experiencevlerick22 Exit of CVC (25%-30% shares) CVC will keep 15% Belgian government: 50% + 1 share Value estimted around 3 bio Syndicate of banks responsible for IPO:JP Morgan, Nomura, BNP Paribas Fortis, MorganStanley, UBS, KBC, ING, Belfius and Royal Bank ofCanada High dividend yield (6-8%) 26000 FTE 10.5 letters a day 23. Vlerick Business SchoolTOP IPOS IN BRUSSELS AND THEIRPERFORMANCE#experiencevlerick23Source: De Tijd 24. Vlerick Business SchoolHOLLYWOOD DISCOVERS CROWDFUNDING#experiencevlerick24CANNES, France--The Cannes FilmFestival can sometimes make room forsomeone a little different. Someone,say, like Jeremy Saulnier, a little-known director who, at 36, has used alittle pluck and plenty of Kickstarter todefy the stereotypes of the worldsmost prestigious (and expensive)festival.Thanks to the democratizing advantages of crowdfunding, Saulnier is showing an alternativepath to the normally elite precincts of the Cannes Film Festival. Saulniers film "Blue Ruin"isnt like most here, which are financed lavishly by foreign distributors, Hollywood studios orgovernment film funds.Saulnier and his wife liquidated their retirement accounts, refinanced their home and ran upwell over a $100,000 in credit-card debt to make the movie. But the real key came when,needing tens of thousands of dollars to trigger cast and crew deals, Saulnier put his projecton Kickstarter. He raised the necessary $35,000 in a matter of weeks. 25. Vlerick Business SchoolRAISING DEBT: RECENT BOND ISSUES IBM (AA-): July 2012 $1 bio (1.875% - 10 years) Walt Disney (A): February, 2012 $1 bio (1.25% - 3 years) $0.4 bio (2.55% - 10 years) Dr Pepper (BBB): $500 mio (2.7% - 10 years) MGM Resorts International (B-): March, 2012 $1 bio (7.75% - 10 years) Very succesful recent issues by Belgian companies(Roularta, ETEX, AB Inbev, Kinepolis, CFE, Arseus,Omega Pharma, Fluxis, DEME, Vandemoortele, Eandis,DEME, Delhaize,)#experiencevlerick25 26. Vlerick Business School #experiencevlerick26 27. Vlerick Business School #experiencevlerick27 28. Vlerick Business School!#experiencevlerick28 29. Vlerick Business School #experiencevlerick29 30. Vlerick Business SchoolLargest company ever according to market cap!30 |Jump of $ 50 bio!!#experiencevlerick30 31. Vlerick Business SchoolCASH GIANTS S&P500 STOXX600#experiencevlerick31Source: De Tijd 32. Vlerick Business SchoolEVOLUTION INTEREST RATES#experiencevlerick32 33. #experiencevlerick33 34. Vlerick Business SchoolEVOLUTION INFLATIONInflation is when you pay fifteen dollars for the ten-dollarhaircut you used to get for five dollars when you had hair. Sam Ewing#experiencevlerick34 35. Vlerick Business School #experiencevlerick35 36. RECENT TRANSACTIONS Universal - EMI ($1.9 bio) Berkshire Hathaway/3G Heinz ($23 bio) AB Inbev Modelo ($20.1 bio) UPS - TNT Express ($7 bio) Dell buyout ($24.4 bio) Liberty Global Virgin Media ($16 bio) American Airlines US Airways (stock swap-combined market cap of $10 bio) Yahoo - Tumblr#experiencevlerick36 37. Vlerick Business School37 #experiencevlerick 38. Vlerick Business School38 9.5Source: Bloomberg#experiencevlerick 39. Vlerick Business SchoolDELL BUYOUT#experiencevlerick3924.4 bio USD (13.65 per share) Michael Dell: 15% + 700 mio USD Silver Lake: 1 bio USD Microsoft: 2 bio USD subordinated loan Syndicated bank loan: 15 bio USDRival offer Carl Icahn andSoutheastern Asset Management! 40. Vlerick Business SchoolMEDIAN WEALTH PER HOUSEHOLD#experiencevlerick40Source: De Tijd 41. Vlerick Business SchoolHOW LONG TO BE A MILLIONAIRE?#experiencevlerick41 42. Vlerick Business SchoolEU AGREES TO LIMIT BANKER BONUSES#experiencevlerick42File - In this Sept. 7, 2010 filephoto, members of Oxfam aredressed as bankers during ademonstration outside of ameeting of EU financeministers at the EU Councilbuilding in Brussels. TopEuropean Union officials lateWednesday, Feb. 27, 2013struck an agreement on apackage of financial laws thatincludes capping bankersbonus payments at amaximum of one yearsbase salary. The bonuses willonly be allowed to reach twicethe annual fixed salary if alarge majority of a banksshareholders agrees. (APPhoto/Virginia Mayo,File)(Credit: AP)www.salon.com 43. Vlerick Business SchoolDo you see the link?43 | #experiencevlerick43 44. Vlerick Business School #experiencevlerick44http://business.time.com 45. Vlerick Business SchoolWHO MASTERS THE FIELD OF FINANCE?FORBES: Worlds Billionaires45 #experiencevlerickRank Name CitizenshipNet Worth($bil)1 Carlos Slim Helu Mexico 732 William Gates III United States 673 Amancio Ortega Spain 574 Warren Buffett United States 53.55 Lawrence Ellison United States 436 Charles Koch United States 347 David Koch United States 348 Li Ka-shing Hong Kong 319 Liliane Bettencourt France 3010 Bernard Arnault France 29 46. Vlerick Business School #experiencevlerick46 47. Vlerick Business School #experiencevlerick47 48. Vlerick Business SchoolFEEL LIKE SOME MORE? Executive Master Class Corporate Finance (Fall2013) Executive Master Class Controllership (spring2014) Financial Management for Non-FinancialManagers (September 2013)#experiencevlerick48 49. #experiencevlerick49