Peet Limited · ASX:PPC
Peet — Euroz Hartleys Rottnest Conference 2021
20 slides from Peet's conference presentation, Mar 10, 2021
Slide 1: Euroz Hartleys Rottnest Conference March 2021
For personal use only EUROZ HARTLEYS ROTTNEST CONFERENCE 10 MARCH 2021 ANNUAL GENERAL MEETING ǀ 20 NOVEMBER 2019 ǀ PAGE 1
Slide 2: Peet is well positioned to leverage market recovery
PEET IS WELL POSITIONED TO LEVERAGE MARKET RECOVERY For personal use only 1• 1H21 operating earnings of $10.1m – up 101% 2• Strong sales growth in 1H21 across national portfolio – up 50% 3• Contracts on hand up 15% providing positive momentum into 2H21 4• Government stimulus packages have supported
Slide 3: Largest 'pure play' residential developer in Australia
LARGEST ‘PURE PLAY’ RESIDENTIAL DEVELOPER IN AUSTRALIA INTEGRATED MODEL WITH PROVEN CAPITAL PARTNERING CAPABILITY For personal use only • Property development company established in 1895 • Listed on the ASX in 2004 Significant and diversified land bank encompassing more than 45,800 lots across 52
Slide 4: Broad customer and product reach
BROAD CUSTOMER AND PRODUCT REACH SCALE PIPELINE WITH LOW COST BASE For personal use only Peet manages a broad property 45,834 portfolio, encompassing 45,800 LOTS lots across 52 projects Diversified land bank $13.6bn strategically located in growth END VALUE corridors of major cities in every mainlan
Slide 5: Delivering against our strategy
DELIVERING AGAINST OUR STRATEGY PORTFOLIO WELL POSITIONED FOR POSITIVE MEDIUM TO LONG TERM GROWTH AND VALUE CREATION STRATEGY KEY ACHIEVEMENTS (1H21) For personal use only Invest in high quality land in strategic • One townhouse site (Vic) and one low-rise apartment site INVEST locations across coun
Slide 6: Results overview
For personal use only RESULTS OVERVIEW
Slide 7: Group 1H21 financial results
GROUP 1H21 FINANCIAL RESULTS IMPROVING RESULTS WITH MARKET RECOVERY KEY PERFORMANCE STATISTICS 1H21 1H20 VAR (%) For personal use only Group sales were up due to improving market conditions and Lot sales1 1,522 1,012 50% government stimulus Lot settlements1 1,254 773 62% Group settlements increased
Slide 8: Contracts on hand
CONTRACTS ON HAND CONTRACTS ON HAND1 (LOTS) CONTRACTS ON HAND REFLECT IMPROVING MARKET CONDITIONS For personal use only 2,257 2,054 1,786 Contracts on hand1 have increased by 15% since 30 June 2020 1,257 to 2,054 lots • Reflects improving market conditions and government stimulus Contracts value of
Slide 9: Enquiry levels remain strong
ENQUIRY LEVELS REMAIN STRONG WA QLD 1600 • Enquiry levels remain strong supporting 1600 For personal use only sales momentum into 2H21 1400 1400 • WA and QLD conversion rates likely to 1200 1200 moderate over the near term as some 1000 1000 builders have reached capacity to deliver within the HomeBu
Slide 10: Outlook
For personal use only OUTLOOK
Slide 11: Market conditions: by state
MARKET CONDITIONS: BY STATE PEET’S SUMMARY For personal use only WA QLD VIC SA ACT/NSW • Significant lots under contract after strong • 1H21 resulted in solid sales and • Positive economic rebound post • Strong new home and allotment sales • Solid employment conditions and 1Q21 as a result of govern
Slide 12: New projects provide medium term earnings visibility
NEW PROJECTS PROVIDE MEDIUM TERM EARNINGS VISIBILITY PIPELINE OF APPROXIMATELY 45,800 LOTS PROVIDING VISIBILITY OF FUTURE EARNINGS FY21 – FY23 NEW PROJECT RELEASE SCHEDULE For personal use only Up to four new land community projects PROJECT STATE SEGMENT PROJECT LOTS2/ GDV PROJECT LIFE and nine town
Slide 13: Flagstone - QLD
FLAGSTONE - QLD • 1,245 ha master planned community situated in a key South East Queensland For personal use only growth corridor 38 km south west of Brisbane’s CBD • Total yield of approx. 12,000 lots with a GDV of more than $3.7 billion - Expected settlement period to FY45 • The only town-centre i
Slide 14: Flagstone - QLD
FLAGSTONE - QLD • Flagstone City has already created 600 casual, full time and part time jobs with a For personal use only target of 10,000 jobs supporting retail, commercial, education and childcare, recreation, health, sporting and community infrastructure • Achieved $30 million in commercial site
Slide 15: Aston West - VIC
ASTON WEST - VIC • Located in the Craigieburn West Precinct Structure Plan For personal use only • 25 km north of the Melbourne CBD • Approximate yield of 1,100 dwellings with a GDV of $360 million • Leverage existing amenity in Peet’s adjacent Aston development − 1,700 dwellings − 12 hectares of wa
Slide 16: Googong - NSW
GOOGONG - NSW • Googong is a whole new self-contained town being built For personal use only over 25 years on a 780Ha site in NSW. The site is located just over the border from the ACT • Joint Venture between Peet and Mirvac • Googong will eventually be home to around 18,000 residents in 6,500 dwell
Slide 17: Brabham - WA
BRABHAM - WA • 220 hectare landholding, 20 km from the For personal use only Perth CBD, adjacent to the proposed future METRONET Whiteman Park Station • Development Management Agreement with Department of Communities • Total yield of approximately 3,300 dwellings with a GDV of approx. $700 million •
Slide 18: Pier Street - WA
PIER STREET - WA Inner city location approx. 500m east of Perth CBD, adjacent to For personal use only • Northbridge • Development Management Agreement − WA State Government (landowner) − Peet (equity partner, development manager) • 27-level building comprising of 186 apartments • Planning approval
Slide 19: Group outlook
GROUP OUTLOOK FOCUSED ON POSITIONING FOR AN IMPROVING MARKET THROUGH A CONSERVATIVE APPROACH TO PROJECT DELIVERY AND IDENTIFYING GROWTH OPPORTUNITIES For personal use only • Consider opportunistic acquisitions to restock pipeline when appropriate • Currently accelerating production to meet current d
Slide 20: Disclaimer
DISCLAIMER For personal use only While every effort is made to provide accurate and complete information, Peet does not warrant or represent that the information in this presentation is free from errors or omissions or is suitable for your intended use. This presentation contains forward-looking sta