Slide 1: Results Announcement for the full year ending 30 June 2013
For personal use only Results Announcement for the full year ending 30 June 2013 Centuria Capital Limited Presentation to Investors and Analysts
Slide 2: Year in review
30 June 2013 - Year in review • Underlying Earnings 30 June 2013 - NPAT $5.3m 8% For personal use only Underlying Net Profit After Tax (NPAT) ($m) (30 June 2012: $4.9m) 6 • Underlying Earnings Per Share 7.7c 26% 5 (30 June 2012: 6.1c) 4 2.495 • Statutory 30 June 2013 - NPAT $7.3m 265% $’m 3 3.579 2nd
Slide 3: Underlying Results (excl. Benefit Funds)
Underlying Results (excl. Benefit Funds) For personal use only Full Year Ended 30 June 2013 2012 Commentary for major movements Underlying EBIT by major division $’000 $’000 - Centuria Property Funds (Note 1) 3,850 3,577 Increased property acquisitions during the year (three) - Centuria Life 7,025 7
Slide 4: Gearing and Expense Management
30 June 2013 - Corporate Update Gearing For personal use only Corporate Debt / Equity Ratio Legacy investment properties 20% • Completion of the sale of the legacy investment properties: 15% 15% 14% 13% - Moonah Links, Fingal 10% - Pepper Sands Resort, Torquay 5% 0% • Corporate debt to equity remain
Slide 5: Unmarketable Parcel Share Buy-back and Dividends
30 June 2013 - Corporate Update (continued) For personal use only Unmarketable Parcel Share Buy-back • 4.2 million shares bought back and cancelled Number of Shares on Issue (m) at $0.4775 per share (December 2012); 82 reducing shares on issue by 5.2% 81 81.8 81.2 80 • Total number of shareholders r
Slide 6: Property Division Revenue Sources
30 June 2013 - Property Division Revenue Sources For personal use only Direct Property Division Revenue Sources ($m) 16 +30% Net Acquisition fees 14 +4% Development fees 12 10 Leasing fees 8 Management fees 6 Property Management & Caretaking 4 Sales fees 2 Other - 2011 2012 2013 • Revenue 30% • Stro
Slide 7: Property Division: Funds Under Management
30 June 2013 - Property Division (continued) Funds Under Management For personal use only Property Funds Under Management ($bn) • $171m of direct property acquisitions 1.20 during FY13 - Corporate Drive ($23.3m) (Dec 12), Castlereagh Street ($56.0m) (Mar 1.00 1.05 1.00 1.03 13) and Spring Street ($9
Slide 8: Financial Services: Centuria Life
30 June 2013 - Financial Services For personal use only Centuria Life (including Guardian) • Increase in number of policyholders at 30 June 2013 - 82,210 (30 June 2012: 80,312) • All unit-linked bonds exceeded prior year performance • FUM stable during period • Three major distribution groups review
Slide 9: Financial Services: Insurance
30 June 2013 - Financial Services For personal use only Insurance • 23,019 policies as at 30 June 2013 • Policyholder renewals continue to track at 90% • New business premium 13% from 2012 • Strong growth in sales/premium from on-line activities Over Fifty Insurance - Online Sales 80 60,000 Online G
Slide 10: Financial Services: Residential Mortgages
30 June 2013 - Financial Services (continued) For personal use only Residential Mortgages • Value of book at 30 June 2013 - $172m (30 June 12: $182m) secured by $706m of property (32% average LVR) • Non-recourse loan at 30 June 2013 - $135.7m (30 June 12: $152m) • Warehouse loan facility maturity da
Slide 11: Appendices: Statutory Account Reconciliations
Appendices Statutory Account Reconciliations For personal use only General comment on statutory accounts reconciliation The “Statutory Accounts” show the consolidated corporate entities including the Benefit Funds which Centuria is required to consolidate under AIFRS. The “Benefit Funds” reflect the
Slide 12: Appendix 1: Income Statement for year ended June 2013
Appendix 1: Income Statement for year ended 30 June 2013 For personal use only Statutory Benefit Statutory Accounts Accounts Funds excluding Benefit Funds $’000 $’000 $’000 Property Division Revenue 15,262 - 15,262 Residential Mortgages interest income 14,740 - 14,740 Centuria Life revenue 11,584 -
Slide 13: Appendix 2: Balance Sheet as at June 2013
Appendix 2: Balance Sheet as at 30 June 2013 For personal use only Statutory Benefit Statutory Accounts Accounts Funds excluding Benefit Funds $’000 $’000 $’000 Assets Cash and cash equivalents (Note 1) 9,285 - 9,285 Trade and other receivables (Note 2) 13,291 - 13,291 Financial Assets at fair value
Slide 14: Appendix 2: Balance Sheet as at June 2013 (continued)
Appendix 2: Balance Sheet as at 30 June 2013 (continued) For personal use only Statutory Benefit Statutory Accounts Accounts Funds excluding Benefit Funds $’000 $’000 $’000 Liabilities Trade and other payables 16,921 - 16,921 Corporate debt 12,000 - 12,000 Borrowings - Residential Mortgages 135,298
Slide 15: Appendix 3: Cash Flow Statement for year ended June 2013
Appendix 3: Cash Flow Statement for year ended 30 June 2013 For personal use only Statutory Benefit Statutory Accounts Accounts Funds excluding Benefit Funds $’000 $’000 $’000 Cash flows from operating activities Interest received 845 - 845 Management fees received (Note 1) 21,792 - 21,792 Rent, tru
Slide 16: Appendix 3: Cash Flow Statement (continued)
Appendix 3: Cash Flow Statement for year ended 30 June 2013 (continued) For personal use only Statutory Benefit Statutory Accounts Accounts Funds excluding Benefit Funds $’000 $’000 $’000 Cash flows from financing activities Loans (payment)/receipts (990) - (990) Benefit funds receipts - - (-- Repay
Slide 17: Appendix 4: Residential Mortgages Projection of Future Cash Flows
Appendix 4: Residential Mortgages For personal use only Projection of Future Cash Flows Embedded Value - at 30 June 2013 9.0% average actual redemption rate (2008 to 2013) 12% p.a. redemption rate ($’000) - forecast Actual $’m Performance Forecast 250 200 150 100 50 0 2008 2009 2010 2011 2012 2013 2
Slide 18: Disclaimer
Disclaimer For personal use only This document has been issued by Centuria Capital Limited ABN 22 095 This document is not a recommendation or personal advice in relation to 454 336 and contains general information about Centuria Capital Limited Centuria or any product or service offered by Centuria