Charter Hall Group · ASX:CHC
Charter Hall — Shareholder Meeting (November 2008)
17 slides from Charter Hall's shareholder meeting presentation, Nov 10, 2008
Slide 1: Charter Hall 2008 Annual General Meeting
Charter Hall 2008 Annual General Meeting For personal use only 10 November 2008
Slide 2: Group update
For personal use only Group update
Slide 3: FY08 highlights
FY08 highlights For personal use only FY08 FY07 Change NPAT (AIFRS) $67.5m $43.2m 56% Basic EPS (AIFRS) 16.31cps 12.00cps 36% Underlying NPAT1 $52.7m $34.2m 54% Underlying EPS 12.74cps 9.51cps 34% DPS 12.60cps 10.44cps 21% EPS and DPS 12.74 12.60 EPS DPS 34% 10.44 9.51 47% 7.10 6.47 FY06 FY07 FY08 N
Slide 4: FY08 highlights
FY08 highlights For personal use only FY08 Revenue $88.5 million FY08 EBITDA $66.8 million1 Development 9% Corporate EBITDA (annuity) 17% Transaction fees 8% CHPT Revenue 46% Trust EBITDA Performance (annuity) 61% fees Corporate EBITDA 14% (other) 22% Services fees 23% NOTE: 1. Corporate EBITDA (ann
Slide 5: Charter Hall is first and foremost a property specialist
Property expertise For personal use only Charter Hall is first and foremost a property specialist Expert property skills Expert capital sourcing skills $3.5 billion Development developed or under Raised more than development CHC equity $550 million over last 3 years Acquired $4 Acquisitions billion
Slide 6: Charter Hall development expertise
Property expertise For personal use only Charter Hall development expertise ◆ Projects developed or under development have a total completion value of $3.5 billion1 (including CIP) ◆ Projects across sectors and geographies Development projects by sector Development projects by geography Residential
Slide 7: Charter Hall leasing expertise
Property expertise For personal use only Charter Hall leasing expertise ◆ CHC has extensive relationships with repeat business tenants across all mainstream commercial sectors – Leased 140,700m2 to major office tenants – Leased 445,829m2 to major industrial tenants (mostly through CIP) – Leased 160,
Slide 8: CHPT portfolio metrics
Property expertise For personal use only Property portfolio metrics1 CHPT Valuer’s Minimum Passing rent Valuer’s market cap fixed rental as % of co-investment discount rate rate reviews market ($m) (%) (%) (% p.a.) (%) Direct Properties (Chullora) 17 8.25 3.63 8.9 121.5 Core Plus Office Fund (CPOF)
Slide 9: CHPT portfolio metrics
Property expertise For personal use only Property portfolio metrics1 Weighted average lease expiry Sector diversification (By income) (By income) Direct Properties 2.4 Industrial DPF 7.6 19% Retail 35% CPIF 12.6 CPOF 8.0 CPRF 9.0 CHUF 9.5 Office Weighted Average 8.7 46% NOTE: Charter Hall AGM 2008 1
Slide 10: CHPT portfolio metrics
Property expertise For personal use only Property portfolio metrics1 CHPT weighted average lease expiry (By income) 49.6% 7.7% 8.0% 5.4% 5.0% 5.8% 5.9% 4.0% 4.8% 3.8% FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY18+ NOTE: Charter Hall AGM 2008 11 1. Post CPRF first close, 31 July 2008.
Slide 11: Funds management
Funds management For personal use only Funds under management of $3.89 billion1 Charter Hall FUM $3,895m Wholesale Investor Funds Retail Investor Funds Property $3,281m $596m $17m Opportunistic Core Plus $847m $2,434m CHOF4 CHOF5 CPOF CPIF CPRF DPF CHUF CHIFs Chullora $490m $357m $1,600m $339m $495m
Slide 12: Funds management
Funds management For personal use only Income streams Charter Hall CIP1 CHOF42 CHOF53 CPOF CPIF CPRF DPF CHUF CHIF4 Direct Investment returns Direct property income 3 Co-investment income 3 3 3 3 3 Development investment income 3 3 3 Fees – enhance ROE Base fund management fees 3 3 3 3 3 3 3 3 Prope
Slide 13: Capital management
Capital management For personal use only ◆ Entered into or extended almost $1.4 billion of finance facilities in CY08 to 31 October Term at establishment Entity Amount (years) Provider(s) Entered into CHC $100m 3.0 NAB August CPOF $694m1 3.0 NAB, St George, CBA, Westpac2 January - June CPRF $250m 3.
Slide 14: Capital management
Capital management For personal use only Debt finance management (at 30 September 2008) ◆ Headstock gearing 9.7% ◆ Look through gearing 42% Drawn CHC Tangible Gearing Duration Percentage Hedge Average balance4 co-invest assets4 level remaining hedged duration rate Entity ($m) (%) ($m) (%) (yrs) (%)
Slide 15: Earnings and distribution
Earnings and distribution For personal use only ◆ Market conditions have deteriorated substantially since Charter Hall announced Full Year Results (25 August) ◆ These challenging conditions impact Charter Hall’s ability to achieve FY09 EPS guidance of 13.4cps ◆ In this volatile time it is difficult
Slide 16: Charter Hall business model
Charter Hall business model For personal use only ◆ Charter Hall business model is sustainable Property specialist – Charter Hall’s property expertise essential in current market – High quality tenants – Long WALEs Quality property portfolio – High fixed rental increases – Simple business model and
Slide 17: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Charter Hall Group (Charter Hall Limited (ABN 57 113 531 150) and Charter Hall Funds Management Limited (ABN 31 082 991 786) (AFSL 262861) as the Responsible Entity for Charter Hall Property Trust (ARSN 113 339 147)). It is a pr
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