Finbar Group Limited · ASX:FRI
Finbar — Euroz Hartleys Conference 2021
24 slides from Finbar's conference presentation, Mar 10, 2021
Slide 1: Euroz Hartleys Conference 2021
A FOCUS ON CURRENT KEY ASPECTS/DRIVERS EUROZ HARTLEYS CONFERENCE 2021 11 MARCH 2021
Slide 2: Current Sales & Market Activity
Current Sales & Market Activity 2
Slide 3: All Projects Sales per Month
All Projects Sales per Month ➢ Material increase in sales since initial COVID shock, to sales momentum not seen in six years. Total Sales and Value 80 $80 74 70 $70 5 day COVID shutdown in Feb 60 $60 52 $m 50 48 48 $50 45 45 46 40 40 38 37 37 $40 33 34 33 31 32 32 31 29 29 29 29 29 30 26 26 27 27 26
Slide 4: REA Insights WA Buyer Demand Index
REA Insights WA Buyer Demand Index ➢ High-intent buyers on realestate.com.au reaches record high - Western Australia Source: realestate.com.au REA Insights 4
Slide 5: Investor Sales vs Owner Occupier Sales
Investor Sales vs Owner Occupier Sales ➢ Room for further sales growth as investors ➢ State Govt moratorium on rent increases ends 28 March expected return to market cautiously (currently ~30% vs to bring rents back to market (improving yields for investors) and ~50%+ in a normalised market) will se
Slide 6: Foreign Buyer Sales all low due to Surcharge Tax
Foreign Buyer Sales all low due to Surcharge Tax ➢ 7% Foreign Buyer Surcharge Tax continues to be major impediment on foreign sales. ➢ Tool for government to leverage rental property supply Introduction by WA State Govt – Foreign Buyers Surcharge Tax (7%) on 1 Jan 2019 120 100 98 93 80 75 65 60 47 4
Slide 7: Current Project Focus
Current Project Focus rots a finbar
Slide 8: Dianella Apartments
Dianella Apartments 36 Chester Avenue, Dianella Project: Dianella Apartments consists of 128 one, two, and three bedroom apartments. Average price of $457,645. ▪ Status: Under Construction ▪ Ownership: 100% through wholly owned subsidiary ▪ Value: ~$62.5 million ▪ Est. Completion: FY22 ▪ Sales: Lots
Slide 9: Civic Heart
Civic Heart 99 Mill Point Road & 3 Mends Street, South Perth Project: Civic Heart will consist of 309 one, two, and three bedroom apartments plus 26 commercial lots. Average residential price $974,214. ▪ Status: Under Construction ▪ Ownership: 50% JV with landowner ▪ Value: ~$406 million ▪ Est. Comp
Slide 10: Video Presentation: Civic Heart South Perth
[ VIDEO PRESENTATION ] CIVIC HEART SOUTH PERTH
Slide 11: Video Presentation
[ VIDEO PRESENTATION ]
Slide 12: Civic Heart – Construction Progress
Civic Heart – Construction Progress 12
Slide 13: AT238 Adelaide Terrace, Perth
AT238 238 Adelaide Terrace, Perth Project: AT238 Perth consists of 119 studio, one, two, and three bedroom apartments plus two ground floor commercial lots over 31 levels. ▪ Status: Construction commencing 15 March 2021 ▪ Ownership: 50% JV with landowner ▪ Value: ~$90 million ▪ Est. Completion: FY22
Slide 14: Video Presentation
[ VIDEO PRESENTATION ]
Slide 15: The Point
The Point 31 Rowe Avenue, Rivervale Project: The Point will consist of approximately 167 one, two, and three bedroom apartments plus nine ground floor commercial units. To be constructed on a 4,000m2 development site situated at the main entrance to the Springs precinct. ▪ Status: Launching June 202
Slide 16: Chemlabs
Chemlabs 101 Hay Street, East Perth Project: The heritage listed site was formerly known as the Chemistry Centre and is located at Lot 101 Hay Street East Perth. • 332 one, two, and three bedroom apartments • 13 ground floor commercial lots (1,328sqm) • 5,335 sqm land • Status: In planning and desig
Slide 17: Pre-Sales Book Value
Pre-Sales Book Value ➢ Pre-sale book now growing strongly with $158m in current off-the-plan presales. $600 SUBI STRAND & TOCCATA $500 ARBOR NORTH NORWOOD MOTIVE AURELIA & AIRE $400 UNISON ON TENTH CONCERTO LINQ REVA PALMYRA $m $300 SABINA VUE ONE KENNEDY $200 RIVERENA $158 m $100 IN ACCRUED PRE-SAL
Slide 18: All Projects Unsold Completed And Off-the-Plan
Finbar – All Projects Unsold Completed And Off-the-Plan ➢ Active sell down of both off-the-plan and completed stock. $700 Millions $572 $600 $500 $400 $300 $200 $104 $100 $- Source: Finbar Group Ltd Total Amount of Unsold Off-the-Plan Stock Total Amount of Unsold Completed Stock COMMERCIAL 18
Slide 19: Robust Capital Spend on New Projects
Robust Capital Spend on New Projects 19
Slide 20: Significant Increase in Development Expenditure
Significant Increase in Development Expenditure Actual & Projected Development Expenditure 25 20 15 10 5 0 Actual Budget 20
Slide 21: Project Pipeline - Summary
Project Pipeline - Summary 450 400 350 300 250 200 150 100 50 0 Remaining Stock Value $m Sold Stock Value $m Source: Finbar Group Ltd 21
Slide 22: Cumulative Units Developed
Cumulative Units Developed 10000 2134 8661 9000 8000 - 6527 units developed to date. 7000 6527 - Additional 2134 units in secured pipeline. 6000 - Multi year pipeline already secured. 5000 4000 3000 2000 1000 0 96 97 98 99 00 01 03 04 05 07 08 09 10 11 12 13 14 15 16 17 18 19 20 22 Source: Finbar Gr
Slide 23: Highlights
Highlights Growing pre-sales book and Multi-year pipeline of Strong, stable, enthusiastic JV Recovering Market WIP gives profit growth residential property partners seeking new Investors returning (slowly) confidence secured opportunities Unstressed balance sheet Significant WIP commenced West Austr
Slide 24: Important Notice
Important Notice Some of the information contained in this presentation may contain forward-looking revenue, timeline, and general statements that are subject to various risks, uncertainties, and changes. Forward-looking statements include those containing such words as ‘estimate’, ‘should’, ‘may’,