Ingenia Communities Group · ASX:INA
Ingenia Communities — Shareholder Meeting (November 2023)
34 slides from Ingenia Communities's shareholder meeting presentation, Nov 17, 2023
Slide 1: ASX Media Release: Annual General Meeting of Ingenia Communities Group
ASX / MEDIA RELEASE 17 November 2023 Annual General Meeting of Ingenia Communities Group Enclosed are the speeches and presentation in relation to today’s Annual General Meeting (AGM) of Ingenia Communities Group by: • Mr Jim Hazel, Chairman of today’s meeting; and • Mr Simon Owen, CEO and Managing
Slide 2: Chairman Address
ASX / MEDIA RELEASE Ingenia Communities 2023 Annual General Meeting Chairman Address Good morning everyone, On behalf of the Board and management I would like to welcome you to Ingenia Communities Group’s Annual General meeting. For personal use only The 2023 financial year was one of significant ch
Slide 3: Chairman Address (continued)
ASX / MEDIA RELEASE Underlying profit and underlying profit per security were both down on the prior year, as interest costs and debt increased. This is not where we want to be and our efforts are focussed on improving returns in the coming year. I would now like to touch on our relationship with Su
Slide 4: Chairman Address: Board and FY24
ASX / MEDIA RELEASE We remain focussed on ensuring the Board retains the right mix of skills and experience to guide the Group’s strategy, deliver on business objectives and consider opportunities for renewal as part of our commitment to leading governance practices. During the year Sally Evans step
Slide 5: Chairman Address: CEO succession
ASX / MEDIA RELEASE Yesterday Simon Owen announced that he will step down as CEO, as part of a succession plan for both the Chair and CEO positions. What Simon has achieved in the creation of this business cannot be underestimated. He conceived the strategy to take Ingenia into the land lease commun
Slide 6: CEO Address
ASX / MEDIA RELEASE CEO Address Good morning, everyone. I would like to join Jim in welcoming you to Ingenia Communities Group’s Annual General Meeting. It is a pleasure to see so many of our long-term security holders and regular attendees. I would make a few opening comments before jumping into th
Slide 7: CEO Address: Development and financial results
ASX / MEDIA RELEASE Over the past 12 months we have commenced more new land lease development projects than ever before, including Bobs Farm and Fullerton Cove on the New South Wales Mid-North Coast, our Victoria Point community in Brisbane’s Eastern Suburbs, Millers Glen in the Queensland Scenic Ri
Slide 8: CEO Address: Portfolio and capital management
ASX / MEDIA RELEASE Combined with growth in the Group’s Joint Venture with Sun Communities, the Group owns or manages a $2.3 billion property portfolio across 107 communities with established land lease and rental communities, holiday parks and land parcels for future development. This is in all res
Slide 9: CEO Address: Rental communities and development
ASX / MEDIA RELEASE Our affordable all-age rental communities are benefitting from growing demand with residential vacancy rates across key markets remaining low, and a severe undersupply of affordable rental accommodation. Occupancy across these communities sits at 99% with a deep wait list. New re
Slide 10: CEO Address: Holiday parks and capital partnerships
ASX / MEDIA RELEASE The diversity and high degree of visibility of income in our holiday parks business is often under-appreciated. Permanent homes and annual sites deliver stable recurring revenue which is not impacted by travel demand. Holidays demand has remained buoyant as families and grey noma
Slide 11: CEO Address: Settlements and outlook
ASX / MEDIA RELEASE At 13 November we have settled 128 homes and hold a further 345 deposits and contracts on hand to support future settlements. This result represents a significant increase on the prior year. Customer inquiry has been improving with recent spring sales events attracting interest i
Slide 12: CEO Address: Final AGM and thanks
ASX / MEDIA RELEASE Today is my 15th and final AGM. My first was back in 2009 when I think the security price was about 10c. It has been an absolute privilege and honour to lead and drive Ingenia over the past 14 years – the first three as the ING Community Living Fund. I would like to thank everyon
Slide 13: Ingenia Communities AGM
For personal use only Artist impression clubhouse pool Ingenia Lifestyle Drift, QLD AGM INGENIA COMMUNITIES
Slide 14: Acknowledgement of Country
Acknowledgement of Country For personal use only As an owner, operator and developer of real estate across Australia, Ingenia Communities acknowledges the traditional custodians of the lands on which we operate We recognise their ongoing connection to land, waters and community, and pay our respects
Slide 15: Chairman's address
Chairman’s For personal use only address Ingenia Holidays Bonny Hills, NSW 17 NOVEMBER 2023 | 3
Slide 16: FY23 Results
FY23 Results For personal use only REVENUE DPS $394.5m 11.0 cps + 17% on FY22 Consistent with FY22 EBIT LVR $109.3 31.4% + 7% on FY22 + 5.7% on June 2022 Ingenia Lifestyle Chambers Pines, QLD 17 NOVEMBER 2023 | 4
Slide 17: Development: Joint Venture extended
Development Joint Venture extended For personal use only Artist impression clubhouse Element by Ingenia Lifestyle, Fullerton Cove, NSW 17 NOVEMBER 2023 | 5
Slide 18: Sustainability
Sustainability Aligned to strategy, vision and values For personal use only Environment Installed public electric vehicle Commenced first projects targeting Green Established Sustainability Design chargers at 3 Holiday parks Star – Communities rating (Bargara, Guidelines with solar, energy through E
Slide 19: Outlook
Outlook Forecasting growth in FY24 Diverse business with recurring rental revenue Fundamental demand drivers remain strong Enhanced exposure to land lease business 5,778 development site pipeline For personal use only Ingenia Holidays Townsville, QLD 17 NOVEMBER 2023 | 7
Slide 20: CEO address
CEO address For personal use only Ingenia Holidays Byron Bay, NSW 17 NOVEMBER 2023 | 8
Slide 21: FY23 Results: financial summary
FY23 Results: financial summary PERFORMANCE REVENUE STATUTORY PROFIT UNDERLYING PROFIT OPERATING CASH FLOW DPS LVR For personal use only $394.5m $64.4m $84.7m $82.5m 11.0 cps 31.4% + 17% on FY22 (33%) on FY22 (4%) on FY22 (28%) on FY22 Consistent with FY22 + 5.7% on June 2022 EBIT NAV UNDERLYING EPS
Slide 22: Business overview
Business overview1 For personal use only INVESTMENT PROPERTY COMMUNITIES AND SITES $2.3b 107 Owned/managed FUTURE DEVELOPMENT RENT 5,778 ~15,500 Potential home Income generating homes, villas, cabins and sites sites EMPLOYEES ‘ROOM NIGHTS’ ~1,300 ~1.7m (80% based in regional Available across locatio
Slide 23: Capital management
Capital management Well positioned balance sheet Debt Expiry Profile ($ million) Capacity to fund investment in growth $350 For personal use only $300 LVR within target range (30-40%) $250 Capital recycling program to further support investment in growth $200 • Four assets divested FY23 ($55 mil
Slide 24: Residential communities
Residential communities For personal use only Affordable Land Lease Seniors rental All-age rental2 No. communities1 35 10 25 No. homes/sites1,2 ~11,700 ~1,700 1,340 Ave. weekly rent $190 $294 $370 1. Includes established communities and developments owned by Ingenia, the Joint Venture and managed fu
Slide 25: Extensive pipeline of 5,778 development sites to drive growth
Extensive pipeline of 5,778 development sites to drive growth For personal use only 17 NOVEMBER 2023 | 13
Slide 26: Accelerating development activity
Accelerating development activity For personal use only Focus on sustainable long-term investments These projects targeting Green Star certification Fullerton Cove, NSW Beveridge, VIC Bargara, QLD Exposure to diverse markets and price points Development pipeline by State 4000 3500 3000 2500 20
Slide 27: Expanded pipeline supporting medium settlements target
Expanded pipeline supporting medium settlements target Development pipeline increasing resilient rent base and fees Rapid increase in Joint Venture activity from FY24 For personal use only Targeting 1,600 to 2,000 settlements FY24 - FY26 Continuing focus on pipeline expansion Development is a key
Slide 28: Ingenia Lifestyle Drift, QLD
Ingenia Lifestyle Drift, QLD For personal use only Launched October 2023 Premium ocean-front community under development – 326 homes at completion First settlements 2H24 Artist impression home interior 17 NOVEMBER 2023 | 16
Slide 29: Ingenia Holiday Parks
For personal use only Ingenia Holiday Parks Ingenia Holidays One Mile Beach, NSW 17 NOVEMBER 2023 | 17
Slide 30: Ingenia Holiday Parks
Ingenia Holiday Over FY23, Ingenia Holidays Parks Ingenia Holidays Cape Paterson, VIC parks benefitted For personal use only from an expanded network, buoyant demand Cabin and and diverse camp sites revenue streams 4,376 1,396 permanent homes 2,061 ‘annual’ sites generating stable Tourism Rental ren
Slide 31: Capital partnerships
Capital partnerships Development Joint Venture with Sun Communities extended for 7 years Provides Ingenia with a capital partner in the development of greenfield communities For personal use only Further co-investment partnering opportunities being explored Joint Venture (Sun Communities) Ingenia Li
Slide 32: FY24 Outlook
FY24 Outlook For personal use only Ingenia Lifestyle Parkside Lucas, VIC 17 NOVEMBER 2023 | 20
Slide 33: Outlook and FY24 Guidance
For personal use only Outlook and FY24 Guidance Enhanced exposure to sectors with ongoing demand Now ~15,500 operational revenue generating sites Continuing to refine portfolio via select divestments and targeted development activity Core businesses delivering growth, assisted by diverse asset b
Slide 34: Disclaimer
Disclaimer This presentation was prepared by Ingenia Communities Holdings Limited (ACN 154 444 925) The forward looking statements included in this presentation involve subjective judgment and and Ingenia Communities RE Limited (ACN 154 464 990) as responsible entity for Ingenia analysis and are sub
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