Power Corporation of Canada (POW) Company presentation summary

Financial highlights and structure

• Market capitalization of $26.7 billion and 5.4% dividend yield as of August 31, 2024.

• 2023 net earnings from continuing operations were $2.28 billion, with adjusted net asset value per share at $50.48 as of June 30, 2024.

• Major holdings include 68.1% of Great-West Lifeco, 62.5% of IGM Financial, and a 16.5% interest in GBL through Parjointco.

• Gross asset value totaled $38.4 billion, with $1.5 billion in cash and cash equivalents.

• Discount to NAV narrowed to 25.3% as of August 31, 2024.

Operating company performance

• Great-West Lifeco reported $2.74 billion in net earnings and $3.67 billion in base earnings for 2023, with a 12.4% ROE.

• Great-West’s U.S. business now contributes 27% of base EPS, up from 13% in 2018.

• IGM Financial posted $1.15 billion in net earnings and $821 million in adjusted net earnings for 2023, with a 13% adjusted ROE.

• GBL is shifting its portfolio toward private and alternative assets, returning over €1.2 billion to shareholders in 2023.

Alternative asset management and investment platforms

• Sagard and Power Sustainable manage $37.5 billion in AUM as of June 30, 2024, with over $1 billion raised in 2024.

• $154 million in carried interest generated based on Q2 2024 fair values.

• Proprietary capital of $2.2 billion targets net returns above 10% across energy infrastructure, private credit, real estate, venture capital, and private equity.

• Strategic partnerships and acquisitions, including with EDC, Lunate, BMO, and Great-West, support platform growth.