Mirvac Group · ASX:MGR
Mirvac — Q1 FY2013 Earnings Presentation
18 slides from Mirvac's earnings presentation, Oct 25, 2012
Slide 1: FY13 Q1 Operational Update
by mirvac For personal use only fy13 q operational update 25 october 2012 Artist’s impression of old treasury building, perth, wa
Slide 2: Agenda
agenda For personal use only FY13 Q1 Operational Update Introduction James MacKenzie, Chairman Q1 Operational Update Andrew Butler, CEO — Investment Investment Division Update Andrew Butler, CEO — Investment Development Division Update Brett Draffen, CEO — Development Summary and Guidance Brett Draf
Slide 3: Q1 operational update
Q1 operational update For personal use only Investment Division — MPT > Maintained strong portfolio occupancy at 98.3% 1 > Strong portfolio WALE of 7.2 1 years (100% building NLA) and 5.4 2 years (MPT’s % ownership by income) > 53.2% 3 of FY13 lease expiries now committed Development Division > On t
Slide 4: Investment Division – MPT
INVESTMENT DIVISION – MPT broadway shopping centre, Sydney, nsw For personal use only by mirvac FY13 q1 operational update 25 october 2012 page 3
Slide 5: MPT's robust portfolio continues to deliver strong results
INVESTMENT DIVISION – MPT For personal use only MPT’s robust portfolio continues to deliver strong results > Maintained high portfolio occupancy of 98.3% 1 > Strong portfolio WALE of 7.2 1 years (100% building NLA) and 5.4 2 years (MPT’s % ownership by income) > 30,205sqm of lease deals executed ove
Slide 6: Investment Division – MPT: Office and Retail
INVESTMENT DIVISION – MPT For personal use only Office > High 97.4% 1 occupancy > including signed leases and HOAs 98.1% > Maintained strong WALE of 5.7 1 years (100% building NLA) and 5.7 3 years (MPT’s % ownership by income) > Leased 16,620sqm of office space > 63.4% 2 of FY13 lease expiries now c
Slide 7: Commercial Market Outlook
Commercial Market Outlook 1 For personal use only Office Weighting FY13 Medium term Continuing economic weakness throughout Europe and a slowing in China raises the forecast prospect of weaker domestic activity. Whilst business confidence has deteriorated, 57.6% 2 the office market remains partially
Slide 8: Development Division
DEVELOPMENT DIVISION artist’s impression of harold park, glebe, nsw For personal use only by mirvac fy12 q1 operational update 25 october 2012 page 7
Slide 9: Commercial developments provide pipeline for earnings
development — Q1 ACTIVITY For personal use only Commercial developments provide pipeline for earnings > Construction on track with lease fit-out work to commence in early 2013 at 8 Chifley Square, NSW > Construction commenced at Old Treasury Building, WA > DA submitted with expected demolition early
Slide 10: Diversified product strategy delivers resilience
development — Q1 ACTIVITY For personal use only Diversified product strategy delivers resilience > On track to achieve FY13 target of 1,800 lots > 331 lots settled over the quarter > 59.9% of FY13 EBIT 1 secured Apartments > 85.1% pre-sold and FY13 settlements 100% exchanged at Yarra Point, VIC > 75
Slide 11: Development Division focused on forward visibility and de-risking
development — Q1 ACTIVITY For personal use only Development Division focused on forward visibility and de-risking > $880.3m 1 in exchanged pre-sales contracts > Exchanged pre-sale contracts will be supplemented with upcoming FY13 releases including Harold Park, NSW Precinct 2 Target lots achieved to
Slide 12: Residential market outlook
residential market outlook 1 For personal use only The housing market fundamentals continue to improve. The combination of declining property prices, rising incomes and lower borrowing costs has resulted in a significant improvement in housing affordability, while mortgaging is becoming increasingly
Slide 13: Guidance
GUIDANCE Artist’s impression of Array, Yarra’s edge, docklands, vic For personal use only by mirvac fy13 q1 operational update 25 october 2012 page 12
Slide 14: Reaffirm guidance
reaffirm GUIDANCE For personal use only Guidance range FY13 Group operating profit $366 – $370m Operating EPS 10.7 – 10.8cpss DPS 8.5 – 8.7cpss by mirvac fy13 q1 operational update 25 october 2012 page 13
Slide 15: Follow us on Twitter @MirvacIR
by mirvac For personal use only Follow us on twitter @MirvacIR Mirvac Mirvac Investor FY12 relations Property website compendium 23 Furzer Street, Phillip, ACT
Slide 16: FY13 Calendar
FY13 Calendar 1 For personal use only Upcoming conference attendance: Event Location Date Bank of America Merrill Lynch 3rd Australian REIT Conference Sydney 30-31 October 2012 Upcoming announcements: Event Location Date Annual General Meeting Sydney 15 November 2012 MGR Distribution Announcement —
Slide 17: Glossary
GLOSSARY For personal use only Term Meaning BP Basis Point Bulky goods Goods that are bulky in nature; i.e. white goods, home furnishings CPSS Cents Per Stapled Security DPS Distribution Per Stapled Security EBIT In the current reporting period, Mirvac has revised its definition of Earnings Before I
Slide 18: Disclaimer and Important Notice
DISCLAIMER AND IMPORTANT NOTICE For personal use only Mirvac Group comprises Mirvac Limited ABN 92 003 280 699 and Mirvac Property Trust An investment in Mirvac stapled securities is subject to investment and other known and ARSN 086 780 645. This presentation (“Presentation”) has been prepared by M