Slide 1: ASX cover letter: half-year report
25 August 2015 The Manager Company Announcements Office For personal use only ASX Limited Level 4, Exchange Centre 20 Bridge Street SYDNEY NSW 2000 Dear Sir/Madam SCENTRE GROUP (ASX:SCG / ADR:SCTRY) SCENTRE GROUP HALF-YEAR REPORT FOR THE 6 MONTHS ENDED 30 JUNE 2015 In relation to the half-year for t
Slide 2: Media Release: 1st half 2015 results
MEDIA RELEASE For personal use only 25 August 2015 SCENTRE GROUP REPORTS 1st HALF 2015 RESULTS WITH 6.1% GROWTH IN SPECIALTY SALES IN AUSTRALIA Scentre Group (ASX:SCG) today announced results for the six months to 30 June 2015, with Funds From Operations (“FFO”) of 11.38 cents per security and distr
Slide 3: Media release continued: extraordinary places, capital reallocation
For personal use only Average specialty retail sales in New Zealand increased to NZ$10,374 per square metre, with comparable specialty store sales growing 6.3% for the six months. Comparable property net operating income increased 2.4% for the six months, and is forecast to increase between 2.0% - 2
Slide 4: Development Activity
Development Activity In 2015, the Group has commenced $825 million (SCG share: $578m) of developments, including projects at Casey, Chatswood, Hurstville, Kotara, North Lakes and Warringah Mall. For personal use only “On completion, these developments will be accretive to earnings, deliver internal
Slide 5: Half Yearly Results to June 2015
For personal use only HALF YEARLY RESULTS TO 30 JUNE 2015 Scentre Group Limited ABN 66 001 671 496 All amounts in Australian dollars unless otherwise specified The financial information included in this release is based on the Scentre Group’s IFRS financial statements. Non IFRS financial information
Slide 6: Highlights
HIGHLIGHTS For personal use only Scentre Group reports first half 2015 results with 6.1% growth in specialty Overview 6 months to 30 June 2015 sales in Australia, and maintains its 2015 full year FFO forecast of 22.5 cents Assets Under Management 1 $40.7bn per security representing 3.5% growth, and
Slide 7: Our Operations
OUR OPERATIONS PORTFOLIO BY GLA 1 PORTFOLIO BY ASSET VALUE (SCG SHARE) 1 As at 30 June 2015 Australia 1 New Zealand Total 2 NSW / 37% NSW / 50% For personal use only Centres 34 9 43 VIC / 20% VIC / 15% Number of Retail Outlets 10,762 1,401 12,163 QLD / 14% QLD / 15% Gross Lettable Area (m sqm) 3.3 0
Slide 8: Comparable Retail Sales Growth
COMPARABLE RETAIL SALES GROWTH For personal use only BY TYPE 1 BY REGION - SPECIALTY SALES 1 10% 10% AUSTRALIA NEW ZEALAND TOTAL 9.5 9% 9% 8% 8% 7.9 7.8 7.6 7% 7.1 6 MTH 7% TOTAL 6 MTH 6.6 6% 6.3 TOTAL 6.3 6.2 6% 6.1 6.2 5.5 5% 5.1 5.3 6 MTH 5.0 5% 5.0 4.8 6 MTH 4.8 TOTAL 12 MTH TOTAL 4.5 4% 3.9 4.0
Slide 9: Comparable Retail Sales Growth by Category
-1% -1% -1.8 -2% -2% COMPARABLE RETAIL SALES GROWTH 6 MONTHS TO 30 JUNE 2015 12 MONTHS TO 30 JUNE 2015 For personal use only BY CATEGORY 1, 2 20% 19.7 16% 14.3 12% 8% 8.1 8.6 8.9 8.6 5.4 7.0 6.6 4.9 4.6 6.0 4% 5.6 3.9 3.7 2.9 2.7 2.1 2.2 2.5 1.6 0.9 0.9 0.9 1.5 0.2 1.5 0.4 0% -0.4 -2.2 es nc ia pl A
Slide 10: Operating Performance
OPERATING PERFORMANCE For personal use only 6 months to 30 June 2015 1 Australia New Zealand Total Moving Annual Turnover (incl. GST) bn $20.1 NZ$2.4 $22.3 Specialty Store Retail Sales (incl. GST) (psm) 2 $10,556 NZ$10,374 $10,436 Specialty Store Rent (psm) $1,594 NZ $1,143 $1,520 Comparable NOI gro
Slide 11: Project Details
PROJECT DETAILS $825 million development starts in 2015 (SCG share: $578m) For personal use only FUTURE PIPELINE > $3 BILLION Total SCG Project Yield Anticipated Project Share Range Completion $m $m Scentre Group Warringah Mall 310 155 2016 Casey Central 155 155 2016 Chatswood 120 120 2015/2016 Hurs
Slide 12: Developments: Westfield Warringah Mall
DEVELOPMENTS WESTFIELD WARRINGAH MALL On completion Westfield Warringah Mall will feature a new two-level parallel mall For personal use only anchored by a reconfigured Myer department store and large format mini-major retailers across both levels connecting through to Woolworths on level 1 and Big
Slide 13: Developments: Casey Central
DEVELOPMENTS CASEY CENTRAL Casey Central is a small neighbourhood centre owned by the Group since 2005, with a total GLA For personal use only of 6,500sqm, 23 shops and anchored by a strongly-performing Coles supermarket. It occupies a strategic 10-hectare site in the south-east growth corridor of M
Slide 14: Developments: Westfield Hurstville
DEVELOPMENTS WESTFIELD HURSTVILLE Myer’s decision to vacate its space at Hurstville upon expiry of its lease in early 2015 For personal use only created an opportunity to undertake a comprehensive upgrade of the entire centre. The space previously occupied by Myer is being reconfigured into five new
Slide 15: Developments: Westfield Miranda
DEVELOPMENTS WESTFIELD MIRANDA The first stage of the redevelopment at Westfield Miranda opened in October 2014 with the For personal use only launch of a gourmet fresh food market and a three-level galleria fashion mall. The providore-style food market features 20 specialty suppliers, a state-of-th
Slide 16: Financing
FINANCING For personal use only Diversified funding including bonds and bank facilities from 20 banks FACILITIES 1 MATURITY PROFILE 1 3.0 Total Committed $15.2bn AU Bonds Bank Facilities Bonds Amount Drawn $10.8bn - Undrawn Bank Undrawn $4.4bn 10% Undrawn Cash $0.2bn Liquidity $4.6bn USD Bonds 2.0 2
Slide 17: Key Ratios and Key Metrics
KEY RATIOS KEY METRICS Gearing (look through basis) 30 June 2015 34.8% 1 Weighted Average Debt Maturity 6.1 years Investment Grade Ratings A1 (Stable) Moody's A (Stable) S&P For personal use only BOND COVENANTS Requirement 30 June 2015 Net Debt/ Net Assets Not greater than 65% 36.4% 2 Secured Debt/
Slide 18: Profit and FFO
PROFIT AND FFO PROFIT AND FFO For personal use only $m PROFIT FFO Adjustments 1 FFO Financial 6 months 6 months Statement Notes to 30 June 2015 to 30 June 2015 A B C=A+B Net Property Income - Australia 824 17 841 Note 4(a)(iv) - New Zealand 87 1 88 Note 4(a)(iv) Total Net Property Income 911 18 929
Slide 19: Balance Sheet
BALANCE SHEET BALANCE SHEET 1, 2 For personal use only $m 30 June 2015 31 December 2014 Cash 196 190 Property investments - Shopping centres 29,317 28,920 - Development projects and construction in progress 463 374 - Property investments held for sale - 1,005 Total Property investments 29,780 30,299