Slide 1: Scentre Group delivers 18.3% growth in FFO in strong half year results
ASX Announcement 23 August 2022 SCENTRE GROUP DELIVERS 18.3% GROWTH IN FFO IN STRONG HALF YEAR RESULTS For personal use only Scentre Group (ASX: SCG) today released its results for the six months to 30 June 2022 with Operating Profit of $540.5 million (10.4 cents per security) up 17.5% compared to t
Slide 2: ASX Announcement (continued)
During the half, the $55 million rooftop entertainment, leisure and dining precinct at Westfield Mt Druitt opened resulting in a significant increase in customer visitation and dwell time. The $355 million investment in Westfield Knox, Melbourne is progressing well with strong pre-leasing For person
Slide 3: About Scentre Group
About Scentre Group We acknowledge the Traditional Owners and communities of the lands on which our business operates. We pay our respect to Aboriginal and Torres Strait Islander cultures and to their Elders past and present. For personal use only We pay our respect to Māori cultures and to their El
Slide 4: Westfield Mt Druitt, NSW
For personal use only Half Year Results 2022 Westfield Mt Druitt, NSW
Slide 5: Operational and Financial Highlights
Our Purpose: Creating extraordinary places, connecting and enriching communities Our Plan: Creating the places more people choose to come, more often, for longer Our Ambition: To grow the business by becoming essential to people, their communities For personal use only and businesses that interact w
Slide 6: Half Year Overview
Half Year Overview Our Ambition is to grow the business by becoming essential to people, their communities and businesses that interact with them For personal use only Demand for space in our Living Centres is We are a responsible, sustainable business Financial 6 months to strong – Agreement with C
Slide 7: Leasing Activity
Leasing Activity 1 For personal use only 98.8% Up 30bps -3.9% Improved from -8.7% +5.6% CPI + 2% Occupancy across Specialty Average Specialty Average Specialty the total portfolio Leasing Spreads Rent Escalation Rent Escalations For the 6 months to For the 6 months to 30 June 2022 30 June 2022 New M
Slide 8: Gross Rent Cash Collections
Gross Rent Cash Collections The Group collected $1,250 million of gross rent during the first half of 2022 For personal use only +$192m Cash collections continue to grow, exceeding $1,250m billings and reducing trade debtors $1,058m – Reduction in trade debtors from $185m at 31 December 2021 to $151
Slide 9: Strategic Initiatives
Strategic Initiatives Leveraging the Westfield brand to grow audience and engagement For personal use only Westfield Plus, Our Membership Program Westfield Direct was launched in October 2021, and now has – Over 300 sellers live on Westfield Direct – Over 340,000 active SKU’s Scan to Join – We have
Slide 10: Business Partner Sales
Business Partner Sales 1 The most productive and efficient platform for business partners For personal use only $12.0bn $11.5bn $0.4bn $11.2bn $0.8bn $0.2bn For the 6 months to 30 June 2022, total sales (excl. $9.8bn Travel & Cinemas) are $900 million higher than the $0.4bn 6 months to 30 June 2019,
Slide 11: Development Opportunities
Development Opportunities We will create the places more people choose to come, more often, for longer For personal use only > $4.5bn Future Developments Westfield Albany, NZ Westfield Barangaroo, NSW Westfield Booragoon, WA Westfield Doncaster, VIC Westfield Eastgardens, NSW Westfield Liverpool, NS
Slide 12: We are a Responsible, Sustainable Business
We are a Responsible, Sustainable Business For personal use only Customer Advocacy Improved Fifth Year of Local Heroes Invested $16 million to 39, up 2 points since 30 June 2021. The finalists have been selected and community in communities over three years. Westfield Local voting has commenced. Her
Slide 13: Operating Profit and FFO
Operating Profit and FFO For personal use only 6 months to 6 months to $m 30 Jun 2022 30 Jun 2021 Property revenue 1,164.3 1,136.6 Property expenses (266.4) (258.9) Expected Credit Charge (14.3) (44.5) Net Operating Income 883.6 833.2 Management income 23.7 23.1 Income 907.3 856.3 Overheads (42.4) (
Slide 14: Financial Position
Financial Position For personal use only $m 30 Jun 2022 31 Dec 2021 Total Balance Sheet Assets1 35,915.8 35,432.7 Borrowings2 (9,801.4) (9,532.0) Other (2,393.8) (2,004.5) Minority Interest (560.1) (787.7) Subordinated Notes3 (4,109.6) (4,109.6) Net Balance Sheet Assets – attributable to ordinary se
Slide 15: Funding
Funding For personal use only Funding 30 June 2022 Borrowings $9.8bn Gearing Weighted average debt maturity1 27.1% 4.1 years 4.3x $4.8bn Subordinated notes $4.1bn Interest Cover Liquidity1 Liquidity1 $4.8bn Weighted average interest rate2 4.2% Investment grade credit ratings 13.1% 5.6x Standard & Po
Slide 16: Funding: Debt Maturity Profile
Funding Available liquidity of $4.8 billion1, sufficient to cover all debt maturities to Q4 2025 For personal use only Debt Maturity Profile1,2 % A$bn $ billion Senior Bonds 3.5 USD 23% 4.3 3.0 EUR 21% 3.9 GBP 4% 0.7 2.5 HKD 1% 0.1 Total 49% 9.0 2.0 Bank Facilities 1.5 Drawn 6% 1.2 Undrawn 23% 4.4 1
Slide 17: Interest Rate Hedging
Interest Rate Hedging For personal use only Hedge Maturity Profile1 $ billion 80% hedged 12.0 1.99% 11.1 10.0 1.99% H2 2022 1.97% 8.0 2.33% 70% hedged 2.38% At January 2023 6.0 2.38% 4.0 67% hedged At December 2023 2.0 2.93% 0.0 H2-22 Jan-23 Dec-23 Dec-24 Dec-25 Dec-26 Dec-27 Half Year Results 2022
Slide 18: 2022 Outlook
2022 Outlook 1 For personal use only The Group expects: – FFO above 19.0 cents per security, representing growth of more than 14.2% – Distribution of at least 15.0 cents per security, representing growth of more than 5.3% Half Year Results 2022 15 1. Full year 2022, subject to no material change in
Slide 19: Appendices
Appendices For personal use only Westfield Mt Druitt, NSW
Slide 20: Developments
Developments Active project For personal use only Westfield Knox, VIC Overview Project Cost $355m (SCG share: $177.5m) Commencement Q1 2022 Completion Q4 2022 / 2023 Highlights Incremental Project GLA 4,000sqm Westfield Knox, VIC Completed Centre GLA 144,810sqm Offering Introducing a diverse mix of
Slide 21: Profit & FFO
Profit & FFO For personal use only Statutory Profit FFO Financial Reconciliation from Profit to FFO 6 months to FFO 6 months to Statement $m 30 Jun 2022 Adjustments1 30 Jun 2022 Notes 1. The Group’s measure of FFO is based upon the A B C=A+B National Association of Real Estate Investment Trusts’ (NA
Slide 22: Operating Cash Flow
Operating Cash Flow For personal use only Cash flows from operating activities – proportionate Equity 6 months to 6 months to $m Consolidated Accounted 30 Jun 2022 30 Jun 2021 Receipts in the course of operations (including GST) 1,334.2 131.4 1,465.6 1,383.9 Payments in the course of operations (inc
Slide 23: Balance Sheet
Balance Sheet 1 Balance Sheet – Proportionate For personal use only Equity Debt $m Consolidated Accounted 30 Jun 2022 Reclassification 30 Jun 2022 A B C = A +B 1. Period end AUD/NZD exchange rate 1.1073 at 30 June 2022 Cash 402.8 6.9 409.7 (409.7) - 2. Includes $368.4m of Property Linked Property In
Slide 24: Business Partner Sales: Growth over 2021
Business Partner Sales Growth over 20211 For personal use only Total Majors and Specialty sales were 9.0% higher for the 3 months to June and 5.0% higher for the 6 months to June compared to 2021 Specialty sales were 10.0% higher for the 3 months and 5.7% higher for the 6 months Majors sales were 7.
Slide 25: Business Partner Sales: Growth over 2019
Business Partner Sales Growth over 20191 For personal use only Total Majors and Specialty sales were 10.8% higher for the 3 months to June and 7.1% higher for the 6 months to June compared to 2019 Specialty sales were 13.7% higher for the 3 months and 8.1% higher for the 6 months Majors sales were 6
Slide 26: Business Partner Sales (Comparable)
Business Partner Sales (Comparable) Comparable Growth vs 20191 For personal use only Total Majors and Specialty sales were 13.5% higher for the 3 months to June and 10.4% higher for the 6 months to June compared to 2019 Specialty sales were 16.8% higher for the 3 months and 11.5% higher for the 6 mo
Slide 27: Property Valuations June 2022
Property Valuations 30 June 2022 For personal use only AUSTRALIA (A$m) Ownership Book Value Retail Cap Rate Economic Yield AUSTRALIA (A$m) Ownership Book Value Retail Cap Rate Economic Yield AUSTRALIAN CAPITAL TERRITORY VICTORIA Belconnen 100% 782.0 5.75% 6.14% Airport West 50% 197.5 5.65% 6.51% Wod
Slide 28: Important Notice
Important Notice For personal use only All amounts in Australian dollars unless otherwise specified. The financial information included in SCENTRE GROUP LIMITED ABN 66 001 671 496 this document is based on Scentre Group’s IFRS financial statements. Non IFRS financial information included in this doc