Growthpoint Properties Australia · ASX:GOZ
Growthpoint Properties Australia — H1 FY2010 Earnings Presentation
22 slides from Growthpoint Properties Australia's earnings presentation, Feb 18, 2010
Slide 1: Interim Results, Six Months Ended 31 December 2009
For personal use only GROWTHPOINT PROPERTIES AUSTRALIA (ASX Code: GOZ) INTERIM RESULTS Six Months Ended - 31 December 2009
Slide 2: Disclaimer
DISCLAIMER For personal use only Every effort has been made to provide up-to-date, accurate and complete information in this presentation, however, neither the Group nor any of its related entities (as that term is defined in the Corporations Act 2001 (Cth)), employees, advisers, agents or other con
Slide 3: Agenda
AGENDA Introduction & Results Summary For personal use only Financial Review Portfolio Overview GOZ Market Comparison Strategy Conclusion 3
Slide 4: Introduction and Results Summary
For personal use only Introduction and Results Summary
Slide 5: Introduction
INTRODUCTION Restructured and recapitalised Group providing strong income and platform for For personal use only growth. Underlying strengths of the Group: • Simple structure – income derived from rent from the properties the Group owns • Internalised management – securityholders own the property tr
Slide 6: Results Summary
RESULTS SUMMARY* H1 FY10 H1 FY 09 Change $ million $ million $ million For personal use only Net property income 28.3 27.5 0.8 Net profit / (loss) 33.2 (137.6) 170.8 Distributions paid/payable 8.8 8.6 0.2 As at Dec 2009 As at Jun 2009 Change $ million $ million $ million Total assets 750 672 78 Inte
Slide 7: Financial Review
For personal use only Financial Review
Slide 8: Distributable Income Summary
DISTRIBUTABLE INCOME SUMMARY For personal use only HY Dec HY Dec Increase/ ITEM 2009 2008 (decrease) $ million $ million Net property income 28.3 27.5 0.8 Net interest (17.8) (16.8) (1.0) Management fee (0.2) (1.0) 0.8 Fund expenses (1.5) (0.5) (1.0) Profit from operations after tax 8.8 9.2 (0.4) Di
Slide 9: Balance Sheet (Extracts)
BALANCE SHEET (Extracts) As at Dec 2009 As at Jun 2009 Increase/ ITEM $ million $ million (decrease) For personal use only Current assets Cash and cash equivalents 4 7 (3) Other assets 3 3 - Total current assets 7 10 (3) Non-current assets Investment property 744 662 82 Less Straight line rental adj
Slide 10: Net Tangible Asset (NTA) Analysis
NET TANGIBLE ASSET (NTA) ANALYSIS NTA per For personal use only stapled security = Dec 2009 Other Interest + $ per stapled security Rate Swaps Property + Pro-forma + Revaluation NTA forecast* * Source: Meeting Booklet, dated 25 June 2009 10
Slide 11: Portfolio Overview
For personal use only Portfolio Overview
Slide 12: Property Valuations
PROPERTY VALUATIONS All properties were independently revalued by Colliers International and Jones Lang LaSalle as at 31 December 2009 For personal use only Prior Book December 2009 Change Valuation Valuation No. of Value Market Market Market Type Value $m $m % Value Properties $m yield yield yield
Slide 13: Tenant Analysis
TENANT ANALYSIS* No Tenant Listed /Private % Rent WALE www For personal use only 1 Woolworths Ltd ASX Listed 61% 12.7 www.woolworthslimited.com.au 2 Coles Group Ltd ASX Listed 10% 12.1 www.colesgroup.com.au 3 Star Track Express JV ASX Listed/Govt. 5% 9.5 www.startrackexpress.com.au 4 Fletcher Buildi
Slide 14: Lease Expiry Profile (by rent)
LEASE EXPIRY PROFILE (by rent) For personal use only Acquisition of BCX portfolio For R 379 million * Includes Goulburn acquisition. 14
Slide 15: Sector Analysis (by property value)
SECTOR ANALYSIS (by property value) Property Geographic For personal use only sector diversity VIC QLD WA SA * Includes Goulburn acquisition NSW 15
Slide 16: Acquisition – Lillkar Road, Goulburn, NSW
ACQUISITION – 134 Lillkar Road, Goulburn, NSW Address 134 Lillkar Road, Goulburn, NSW, 2580 For personal use only Property description Regional distribution centre and office Lettable area 42,826 square meters Potential expansion 12,458 square meters of lettable area Site area 16.25 hectares Ownersh
Slide 17: GOZ Market Comparison
For personal use only GOZ Market Comparison
Slide 18: GOZ Market Comparison
GOZ MARKET COMPARISON For personal use only • Growthpoint - forecast distribution for 6 months to 30 June 2010 annualised/closing price of $1.66 • Growthpoint WALE includes 134 Lillkar Road, Goulburn – Acquired February 2010 • S&P ASX REIT 200 – Forecast year end 30 June 2010 distribution/by closing
Slide 19: Strategy
For personal use only Strategy
Slide 20: Strategy
STRATEGY Strategy Opportunities for Growth For personal use only Actively grow the Group to a size that is able to attract Merger and acquisition with other funds institutional investors Acquire direct property portfolios Optimise the quality of income streams by Single property asset acqu
Slide 21: Conclusion
CONCLUSION • Growthpoint Properties Australia business established post restructure • On target for forecast distribution of 14 cents per stapled security for FY 2010 For personal use only 5.5 cents for first half, 2010 taking into account the timing of the recapitalisation 8.5 cents for second
Slide 22: For further information contact
For personal use only For further information contact: Timothy Collyer, Fund Manager or Aaron Hockly, Company Secretary Investor information line: 1800 260 453 www.growthpoint.com.au
Growthpoint Properties Australia — H1 FY2010 Earnings Presentation on 6ix