Century Communities, Inc. · NYSE:CCS
Century Communities — Investor Presentation (March 2015)
29 slides from Century Communities's investor presentation, Mar 30, 2015
Slide 1: Investor Presentation March 2015
Exhibit 99.1 Investor2015 COMMUNITIES CENTURY March Presentation
Slide 2: Forward-Looking Statements
Forward-Looking COMMUNITIES CENTURY Certain statements “believes,” positive any performance These assumptions operations changes assets strength In Exchange regarding 2and addition, of successfully theforward-looking the Company statements or to ofthe Commission events or discuss negative the “shoul
Slide 3: Seasoned and Aligned Management Team
Seasoned COMMUNITIES CENTURY Dale Chairman Since Robert Co-Chief David Chief and (1) 3(2) As Based Controller Francescon then, Financial Messenger of Francescon March Executive and on &Century Co-Chief 2013 Aligned Officer 27, 10 closings, has 2015. Officer years Management Executive multi-billion b
Slide 4: Key Credit Highlights
Key Credit Highlights COMMUNITIES CENTURY
Slide 5: Premier Growth-Focused Homebuilder
Premier COMMUNITIES CENTURY Top-50 Potential Top-five Profitable Attractive 11,463 83 Strategically Diversified Company $599.4 $57.2 (1) (2) (3) (4) 5(5) active As Adjusted Based Promillion of lots million Forma U.S. Homebuilder fastest December selling on snapshot: every land owned product homebuil
Slide 6: Key Credit Highlights
Key Credit COMMUNITIES CENTURY Cycle-Tested Superior Diversified Strong Attractive Proven 6Conservative and and Operating and Growing Highlights Operating Profitable and Capital Well-Located Aligned Performance Geographical Structure Results Strategy Management Land Positions Footprint Team
Slide 7: Cycle-Tested and Proven Management Team
Cycle-Tested COMMUNITIES CENTURY Demonstrated Century 2009 2012 2002 Expansion 2006 Began 2007 2013 Raised Acquired $120 72014 Acquired 2006 mm purchasing strategic $223.8 $81.6 $200 formed LVLH Jimmy GVB Unsecured into 2007 mm mm Management long mm Peachtree Fort Colorado in slowdown 2009 in Jacobs
Slide 8: Superior Operating Performance
Superior COMMUNITIES CENTURY Century 3-Year 30.3% 31.8% 26.7% 24.4% 22.0% 22.6% 23.3% 19.3% 20.0% WCIC 17.7% Source: (1) 8purchase Adjusted 26.2% 24.0% 21.9% 19.2% SPF Gross Company has Operating price LEN consistently toMargins-Adjusted 23.9% 21.5% accounting exclude WLH filings. Performance 21.0%
Slide 9: Diversified Operating Strategy
Diversified COMMUNITIES CENTURY Best-in-class Diverse Focus Markets Premier Locations Premium Broadly First Multiple 9Broadtime on product &Locations Targeted characterized price metros amenities homebuyer, with Growing Operating diversified points offering excellent with Customers &including Econom
Slide 10: Strong Geographic Footprint
Strong COMMUNITIES CENTURY Four Northern Denver, Las Colorado San Houston, Atlanta, Austin, Lots Source: (1) (2) (3) 10 As Forecasted Vegas, Antonio, Owned(1): states, of and TX John CO GA December Colorado TX Springs, NV Growing eight Burns TX annual 207 2,725 1,644 417 81 233 686 1,008 active CO L
Slide 11: Focused on Attractive Growing Markets
Focused COMMUNITIES CENTURY Target Colorado(1) Owned Controlled Market Growing Limited Strong Price (1) (2) (3) (4) 11 As Includes Based Appreciation of markets Job Supply(4) Lots(3) Current on Household December on Lots(3) Growth Markets Denver, the Central JBREC with 3,349 Austin Supply 1.0 530 31
Slide 12: Recent Acquisition Activity
Recent COMMUNITIES CENTURY Jimmy Well-recognized Las A Grand Peachtree Private, Offers Acquired (1) 12private Included Vegas View awide Acquisition Jacobs well-established range homebuilder 166 1,761 Grand 84 2,120 Communities Land range Builders 116 homes lots(1) Homes ofowned lots Holdings View pr
Slide 13: Strong Land Positions
Strong COMMUNITIES CENTURY Evaluate Ability Structuring Century Holds Lot Lots Owned Colorado Central Las Houston Atlanta Grand (1) (2) 13 Represents Pro Inventory Vegas Lots ample 5.1 Total Lot forma to Controlled Texas 686 does 233 land 3,349 Total take years’ 1,644 Inventory flexibility 1,735 7,0
Slide 14: Capacity to Execute Growth Strategy
Capacity COMMUNITIES CENTURY $133.5 $33.5 $100 In 6.875% Matures Moody’s Closed No $Summary Inventories Revolving Debt: Senior Other Total Credit Available Debt Net Cash (1) 14millions May Available significant Debt /Assets million $33.5 + Debt Liabilities Equity million 9.6 Book Metrics Unsecured m
Slide 15: Prudent Land Sourcing Strategy
Prudent COMMUNITIES CENTURY Attractive Controlled 45% 100% 32% 21% NVR Years 19.6 10.0 08.2 3.5 WCIC Source: (1) (2) View (3) December 15yrs Years Represents yrs yrs 44% 32% 21% 5.8 Builders MHO ofWLH 7.6 Company Land Supply(2)(3) yrs of 39% 26% 20% land 31, yrs Lots supply HOV 5.6 TOL Sourcing 2014
Slide 16: Strengthened Backlog Positions
Strengthened COMMUNITIES CENTURY Rapidly 222 394 472 772 Backlog 4Q2013 $103.3 $122.3 $167.8 $190.0 $246.3 Increased Growing Positioned 16 256 growing 1Q2014 Homes Dollar backlog backlog forBacklog further Value 2Q2014 backlog positions of homes: dollar expansion ($mm) Positions value: reflects 3Q20
Slide 17: Demonstrated Substantial Growth
Century Demonstrated Substantial Net 151% 415 336 13 Total 277% $41.0 $20.5 $336.4 $382.0 $96.0 $171.1 2012 17 New 406 232013 Revenue $285.8 $9.1 1,042 $362.4 Communities 448 Home 2014 growth 211% 352% Financial ($mm) Orders 2012 1,046 in18% operating Adjusted 2013 Home Performance 493% 2014 Closing
Slide 18: Conservative Capital Structure
Century’s Nearly Conservative No Net 59% 84% 7% 15% 35% NVR Cash 2.6x 2.9x 2.3x 2.1x 2.0x 1.6x 1.8x PHM 1.2x 18 near 12% Debt cash 2.5x 2.3x 2.1x 1.9x 1.6x net 60% +PHM CENTURY $133 Inventories term debt to 1.6x and flexible 55% WCIC Net million debt to leverage inventory 1.5x 45% net Book WCIC bala
Slide 19: Key Credit Highlights
Key Credit COMMUNITIES CENTURY Cycle-Tested Superior Diversified Strong Attractive Proven Conservative 19 and and Operating and Growing Highlights Operating Profitable and Capital Well-Located Aligned Performance Geographical Structure Results Strategy Management Land Positions Footprint Team
Slide 20: Recent Acquisitions
Recent Acquisitions COMMUNITIES CENTURY
Slide 21: Jimmy Jacobs Acquisition
Jimmy COMMUNITIES CENTURY Established JJH Acquired The (1) Included builds and acquisition Jacobs Century Jimmy 166 aand wide 116 lots(1) Homes also highly lots share Jacobs range included under and Acquisition acapable of Homes similar 95product contract. homes anlocal (“JJH”), approach additional
Slide 22: Las Vegas Acquisition
Las Vegas COMMUNITIES CENTURY Robust Acquired Included $74.3 $19.2 38.1% 256 ASP Existing LVLH Increases community Irreplaceable Bolsters Established Very Improving 22 homes of favorable million builds 2013 home operation $290,050 lot Century 57 earnings LVLH, 1,761 Land job closed pipeline operatin
Slide 23: Grand View Builders Acquisition
COMMUNITIES CENTURY Established Construction, Grand Builders Acquired 23 View Custom Grand 84local Builders builds also homes collectively, View has Homes team ainrange to Acquisition Builders, backlog inthe “Build-On-Your-Lot” the “Grand of capability expansive product and Grand –View”, 601 August
Slide 24: Peachtree Communities Acquisition
COMMUNITIES CENTURY Provided Added Acquired Included Peachtree $163.2 $13.7 17.3% 752 ASP Increases Bolsters Established Very Improving 24 homes of favorable million home amillion $217,035 lot proven 368 significant earnings Peachtree 2,120 builds Communities job closed pipeline strategic operating
Slide 25: Historical Financial Performance
Historical Financial Performance COMMUNITIES CENTURY 25
Slide 26: Fiscal Year 2014 Update
Fiscalbacklog COMMUNITIES CENTURY Revenues Overall Closings Operating Adjusted Improved Pre-tax Total Backlog 26 Year income average value totaled EBITDA overhead totaled income 2014 increased of of selling 1,046, Update $246.3 $362.4 $31.0 of was as$31.1 aup price $41.0 to percentage million millio
Slide 27: Historical Financial Data
Historical COMMUNITIES $CENTURY Quarter Year Home 2013 2014 Land $171,133 $351,823 $63,631 4$134,089 4,800 5G 2,018 171,133 362,392 63,631 140,907 Cost 276,386 1110,019 1,808 6C 1,971 T Operating 129,651 284,495 48,567 113,798 Consolidated 17,860 31,102 4,673 11,220 Net Income $12,431 $20,022 $3,050
Slide 28: Adjusted EBITDA Reconciliation
COMMUNITIES $CENTURY Year Consolidated 2013 2014 Income $12,431 $20,022 5,015 10,937 Interest 1,521 2,366 -D 26 Purchase 19,904 36,292 EBITDA 937 2,941 Adjusted 633 4,697 $20,537 $40,989 Further 13,659 11,433 Total 19,961 4,810 (1) $54,157 $57,232 of Atlanta (2) LVLH 28epreciation 000s Peachtree Amo
Slide 29: COMMUNITIES CENTURY
29 COMMUNITIES CENTURY
Century Communities — Investor Presentation (March 2015) on 6ix