Stockland · ASX:SGP
Stockland — Shareholder Meeting (October 2007)
69 slides from Stockland's shareholder meeting presentation, Oct 23, 2007
Slide 1: Annual General Meeting
Annual General Meeting For personal use only 23 October 2007 www.stockland.com.au
Slide 2: Graham Bradley, Chairman
For personal use only Graham Bradley Chairman
Slide 3: Matthew Quinn, Managing Director
For personal use only Matthew Quinn Managing Director
Slide 4: Phillip Hepburn, General Counsel and Group Secretary
For personal use only Phillip Hepburn General Counsel and Group Secretary
Slide 5: Nick Greiner, Deputy Chairman
For personal use only Nick Greiner Deputy Chairman
Slide 6: Hugh Thorburn, Finance Director
For personal use only Hugh Thorburn Finance Director
Slide 7: Lyn Gearing, Non-Executive Director
For personal use only Lyn Gearing Non-Executive Director
Slide 8: Terry Williamson, Non-Executive Director
For personal use only Terry Williamson Non-Executive Director
Slide 9: Peter Scott, Non-Executive Director
For personal use only Peter Scott Non-Executive Director
Slide 10: Duncan Boyle, Non-Executive Director
For personal use only Duncan Boyle Non-Executive Director
Slide 11: Bruce Corlett, Non-Executive Director
For personal use only Bruce Corlett Non-Executive Director
Slide 12: Chairman's Address
Chairman’s Address For personal use only Graham Bradley
Slide 13: Results of the Past Year
Results of the Past Year • 25th consecutive year of profit growth For personal use only • Excellent growth in earnings and distributions per security • Strong financial discipline • Diversity of business Stockland Riverton, WA
Slide 14: Strategic Expansion
Strategic Expansion • Halladale acquisition For personal use only • Australian Retirement Communities acquisition Cameron Close Retirement Village, VIC
Slide 15: Corporate Responsibility & Sustainability
Corporate Responsibility & Sustainability • Significant progress across the business For personal use only • Inclusion in prestigious Dow Jones Sustainability Index • Strengthened HS&E platform “Stockhome”
Slide 16: Sustainability Report
~O Stockland Ber DUA eport CTW. > f | 11
Slide 17: Leadership and Board
Leadership and Board • High performing people For personal use only • Board renewal programme Waterfront Place, QLD
Slide 18: Outlook
Outlook • We expect 2008 will be another year of For personal use only growth driven by: – Strength of our business model – Depth and expertise of management Tudor Street, London
Slide 19: Matthew Quinn, Managing Director
For personal use only Matthew Quinn Managing Director
Slide 20: 2007 Performance
2007 Performance • Record results For personal use only • Diversity of business • Integrated Platform Waterside, NSW
Slide 21: FY07 Revenue
FY07 Revenue • Gross Revenue - $3.3bn For personal use only 43.5% pa Increase The Islands, WA
Slide 22: FY07 Net Profit After Tax
FY07 Net Profit After Tax • Operating Profit - $611m For personal use only 10.3% pa Increase Macarthur Gardens, NSW
Slide 23: FY07 Security holder returns
FY07 Security holder returns • Earnings per security – 44.0c For personal use only 6% pa Increase • Distributions per security – 44.3c 7% pa Increase Hidden Grove, VIC
Slide 24: Total Security Holder Returns
For personal use only Source: S&P/UBS 80 120 160 200 240 Jul-02 280 Oct-02 Jan-03 Apr-03 SGP Jul-03 ASX 200 REIT 200 Oct-03 Jan-04 Apr-04 Jul-04 Oct-04 Total Security Holder Returns Jan-05 Apr-05 Jul-05 Oct-05 Jan-06 Total Shareholder Returns 1 July 2002 – 30 June 2007 Apr-06 Jul-06 Oct-06 Jan-07 Ap
Slide 25: Strategic Approach
Strategic Approach • Move into retirement living sector For personal use only • International expansion • Capital Partners
Slide 26: New Initiatives
New Initiatives • Australian Retirement Communities For personal use only acquisition • Halladale acquisition • Capital Partners Bundoora Retirement Village, VIC
Slide 27: Retail Division
Retail Division PORTFOLIO SUMMARY* For personal use only Number of Properties 43 Number of Retailers 3,200 Total Asset Value A$4.3bn Vacancy Rate 0.1% (10 shops) John Schroder Total Sales per annum A$5.1bn CEO, Retail Division * FY07
Slide 28: Retail Division – FY07 Profit Growth
Retail Division – FY07 Profit Growth For personal use only Divisional operating profit 6.6% Comparable net income growth 5.5% Stockland Wetherill Park, NSW
Slide 29: Development Focus - Merrylands, NSW
Development Focus - Merrylands, NSW For personal use only * Artists Impression Waterfront, ACT
Slide 30: Retail – Market Outlook
Retail – Market Outlook For personal use only • Consumer sentiment positive • Retail sales outlook positive due to: – Strong employment market and increasing wages – Recovering east coast residential market – Tax cuts • Retail sales continue to grow ahead of CPI Stockland The Pines, VIC
Slide 31: Retail - Strategy for Growth
Retail - Strategy for Growth For personal use only • Increased productivity driving strong income growth • Robust development pipeline • Customer focus Stockland Green Hills, NSW
Slide 32: Commercial & Industrial Division
Commercial & Industrial Division For personal use only Steve Mann CEO, Commercial and Industrial
Slide 33: Commercial and Industrial Division – FY07 Highlights
Commercial and Industrial Division – FY07 Highlights PORTFOLIO SUMMARY* For personal use only Divisional operating profit Number of Properties 66 19.4% Number of Tenants >500 Total Asset Value A$4.2bn Comparable net income growth 3.1% Occupancy Rate 96% * FY07
Slide 34: Development Focus - Optus Centre, Macquarie Park
Development Focus - Optus Centre, Macquarie Park For personal use only
Slide 35: Commercial and Industrial – Market Outlook
Commercial and Industrial – Market Outlook For personal use only Commercial • Resource-rich states continue to outperform • Sydney set for rental growth due to limited supply Industrial • Transport and storage sector outlook remains strong Waterfront Place, BankWest, WA QLD
Slide 36: Commercial & Industrial – Strategy for Growth
Commercial & Industrial – Strategy for Growth For personal use only • Re-weighting to high growth resource rich markets • Development pipeline • C&I trading business * Artists Impression 509 Boundary Road, Richlands, QLD
Slide 37: Development Division
Development Division PORTFOLIO SUMMARY* For personal use only Number of Projects 98 Number of Future 73,000 Lots Total End Value A$19bn Denis Hickey CEO, Development Division * FY07
Slide 38: Development Division – FY07 Highlights
Development Division – FY07 Highlights For personal use only Divisional operating profit $273 m Increased 14.2% Tooronga, Glen Iris VIC
Slide 39: The Village, Balgowlah
The Village, Balgowlah For personal use only
Slide 40: Residential – Market Conditions
Residential – Market Conditions • Demand remains strong in QLD For personal use only • WA market volumes easing with steady prices • NSW market showing some signs of recovery • VIC market is stable with good affordability for new home buyers • Ageing population driving retirement living sector Calou
Slide 41: Development Division - Strategy for Growth
Development Division - Strategy for Growth • Increased market share For personal use only • New initiatives • Unlocking development opportunities within existing portfolio • Focus on mixed-use opportunities Waterfront, ACT
Slide 42: Capital Partners
Capital Partners For personal use only • Over $850m of wholesale and retail assets under management* • 6 funds operating • Outperforming prospectus forecasts Brett Newman CEO, Capital Partners * Represents equity commitments and assets under management
Slide 43: Capital Partners - Strategy for Growth
Capital Partners - Strategy for Growth For personal use only • Grow capability in both UK/Europe & Australia • Cross border opportunities UK/Europe • Over $A2.2bn under management • Stockland Halladale provides platform for growth – Established UK JV partnerships – European product and wholesale opp
Slide 44: Stockland Halladale
Stockland Halladale For personal use only • Integration going very well • Performing in line with expectations David Lockhart Chairman, Stockland Halladale • Outstanding platform for growth Lisa Scenna Ken Lindsay Joint Managing Director, Joint Managing Director, Stockland Halladale Stockland Hallad
Slide 45: High Performing People & Culture
High Performing People & Culture For personal use only • Leaders ‘walk the talk’ • Employee Engagement – 85% • Hewitt Best Employer • Hewitt Top Company for Leaders 2007 • Employer of Choice for Women • Talent Management * ISR 2007 133 Castlereagh Street, Sydney, NSW
Slide 46: Group Outlook
Group Outlook For personal use only • FY08 EPS growth – guidance 5% • Operating businesses performing very well • Strong balance sheet OptusOptus HQ, Macquarie HQ, Macquarie Park, Park NSW
Slide 47: Graham Bradley, Chairman
For personal use only Graham Bradley Chairman
Slide 48: Resolutions
For personal use only RESOLUTIONS
Slide 49: Resolution – Financial Statements & Report
RESOLUTION 1 – Financial Statements & Report For personal use only To receive the Annual Financial Report, including the Directors’ Report and Financial Statements for the year ended 30 June 2007, together with the Independent Auditor’s Report.
Slide 50: Resolution – Re-Election of Director, Duncan Boyle
RESOLUTION 2 – Re-Election of Director, Duncan Boyle For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution of the Company: “That Mr Duncan Boyle, who retires in accordance with the Company’s Constitution and, being eligible and having offer
Slide 51: Proxies Held – Re-Election of Duncan Boyle
RESOLUTION 2 – Re-Election of Director, Duncan Boyle For personal use only PROXIES HELD Total number of proxies to vote FOR the resolution: 817,136,533 Total number of proxies to vote AGAINST the resolution: 440,117 Total number of proxies to ABSTAIN on the resolution: 14,320,851 Total number of pro
Slide 52: Resolution – Election of Director, Barry Neil
RESOLUTION 3 – Election of Director, Barry Neil For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution of the Company: “That Mr Barry Neil, who is eligible and having offered himself for election, is elected as a Director of the Company.”
Slide 53: Barry Neil
For personal use only Barry Neil
Slide 54: Proxies Held – Election of Barry Neil
RESOLUTION 3 – Election of Director, Barry Neil For personal use only PROXIES HELD Total number of proxies to vote FOR the resolution: 819,120,459 Total number of proxies to vote AGAINST the resolution: 8,510,553 Total number of proxies to ABSTAIN on the resolution: 4,198,831 Total number of proxies
Slide 55: Resolution – Re-Election of Director – Nick Greiner
RESOLUTION 4 – Re-Election of Director – Nick Greiner For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution of the Company: “That Mr Nick Greiner, who retires by rotation in accordance with the Company’s Constitution and, being eligible and
Slide 56: Proxies Held – Re-Election of Nick Greiner
RESOLUTION 4 – Re-Election of Director – Nick Greiner For personal use only PROXIES HELD Total number of proxies to vote FOR the resolution: 751,057,786 Total number of proxies to vote AGAINST the resolution: 63,160,154 Total number of proxies to ABSTAIN on the resolution: 17,442,750 Total number of
Slide 57: Resolution – Re-Election of Director – Hugh Thorburn
RESOLUTION 5 – Re-Election of Director – Hugh Thorburn For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution of the Company: “That Mr Hugh Thorburn, who retires by rotation in accordance with the Company’s Constitution and, being eligible a
Slide 58: Proxies Held – Re-Election of Hugh Thorburn
RESOLUTION 5 – Re-Election of Director – Hugh Thorburn For personal use only PROXIES HELD Total number of proxies to vote FOR the resolution: 819,016,567 Total number of proxies to vote AGAINST the resolution: 8,606,569 Total number of proxies to 4,069,947 ABSTAIN on the resolution: Total number of
Slide 59: Resolution – Re-Election of Director – Graham Bradley
RESOLUTION 6 – Re-Election of Director – Graham Bradley For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution of the Company: “That Mr Graham Bradley, who retires by rotation in accordance with the Company’s Constitution and, being eligible
Slide 60: Proxies Held – Re-Election of Graham Bradley
RESOLUTION 6 – Re-Election of Director – Graham Bradley For personal use only PROXIES HELD Total number of proxies to vote FOR the resolution: 699,066,889 Total number of proxies to vote AGAINST the resolution: 116,392,837 Total number of proxies to 12,189,934 ABSTAIN on the resolution: Total number
Slide 61: Resolution – Approval of Remuneration Report
RESOLUTION 7 – Approval of Remuneration Report For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution of the Company: “That the Company’s Remuneration Report for the financial year ended 30 June 2007 be approved.”
Slide 62: Proxies Held – Remuneration Report
RESOLUTION 7 – Approval of Remuneration Report For personal use only PROXIES HELD Total number of proxies to vote FOR the resolution: 769,884,319 Total number of proxies to vote AGAINST the resolution: 16,248,335 Total number of proxies to 45,309,536 ABSTAIN on the resolution: Total number of proxie
Slide 63: Resolution – Increase Non-Executive Directors' Remuneration Limit
RESOLUTION 8 – Approval to Increase Non-Executive For personal use only Directors’ Remuneration Limit To consider and, if thought fit, to pass the following resolution as an ordinary resolution of the Company: “That the maximum aggregate payment limit for Non-Executive Directors’ fees be increased b
Slide 64: Proxies Held – Non-Executive Directors' Remuneration Limit
RESOLUTION 8 – Approval to Increase Non-Executive For personal use only Directors’ Remuneration Limit PROXIES HELD Total number of proxies to vote FOR the resolution: 764,861,752 Total number of proxies to vote AGAINST the resolution: 27,027,801 Total number of proxies to 40,283,750 ABSTAIN on the r
Slide 65: Resolution – Grant of Performance Rights to Managing Director
RESOLUTION 9 – Grant of Performance Rights to Managing Director To consider and, if thought fit, to pass the following resolution as separate For personal use only ordinary resolutions of each of the Company and the Trust: “That approval is given for all purposes under the Corporations Act and the L
Slide 66: Proxies Held – Performance Rights to Managing Director
RESOLUTION 9 – Grant of Performance Rights to For personal use only Managing Director PROXIES HELD Total number of proxies to vote FOR the resolution: 760,875,588 Total number of proxies to vote AGAINST the resolution: 22,137,797 Total number of proxies to 48,847,942 ABSTAIN on the resolution: Total
Slide 67: Resolution – Grant of Performance Rights to the Finance Director
RESOLUTION 10 – Grant of Performance Rights to the Finance Director To consider and, if thought fit, to pass the following resolution as separate For personal use only ordinary resolutions of each of the Company and the Trust: “That approval is given for all purposes under the Corporations Act and t
Slide 68: Proxies Held – Performance Rights to Finance Director
RESOLUTION 10 – Grant of Performance Rights to the For personal use only Finance Director PROXIES HELD Total number of proxies to vote FOR the resolution: 761,138,790 Total number of proxies to vote AGAINST the resolution: 22,182,659 Total number of proxies to 48,841,420 ABSTAIN on the resolution: T
Slide 69: Disclaimer
Disclaimer For personal use only Corporation/ Responsible Entity Stockland Corporation Limited ACN 000 181 733 Stockland Trust Management Limited ACN 001 900 741 25th Floor 133 Castlereagh Street SYDNEY NSW 2000 DISCLAIMER OF LIABILITY While every effort is made to provide accurate and complete info