Cedar Woods Properties Limited · ASX:CWP
Cedar Woods Properties — Investor Presentation (June 2015)
29 slides from Cedar Woods Properties's investor presentation, Jun 3, 2015
Slide 1: Investor Presentation 3 June 2015
Investor Presentation 3 June 2015 Cedar <@ Woods
Slide 2: For personal use only
For personal use only • An ASX 300 company with a proven track record of consistent earnings growth and meeting targets – 4 consecutive years of record profits to 30 June 2014 • Strategically located and diverse portfolio – Urban and regional growth areas in WA, VIC and QLD – Apartments, integrated
Slide 3: Creating long-term value for shareholders
For personal use only To create long-term value for our shareholders through the acquisition, development and marketing of properties • To create residential housing estates, typically in capital city growth corridors, with supporting retail and commercial developments • Redevelopment of major infil
Slide 4: National portfolio: acquisitions, development and sales
For personal use only To grow and develop a national portfolio, diversified by geography, product type and price point, so that it continues to hold broad customer appeal and performs well in a range of market conditions. PROPERTY MARKETING & DEVELOPMENT AQUSITIONS SALES Disciplined approach to Rese
Slide 5: NPAT ($m)
NPAT ($m) For personal use only 45.0 40.0 40.3 41.0 35.0 36.3 34.3 30.0 28.0 25.0 20.0 15.0 17.2 10.0 5.0 - FY10 FY11 FY12 FY13 FY14 FY15 Forecast 5
Slide 6: Assets, net bank debt and gearing
For personal use only Assets at book value (cost) ($m) 31 Dec 30 June 450 423 410 2014 2014 400 $m $m 350 301 Total assets (book value) 423 410 300 234 238 250 Net bank debt 92 33 200 Net assets (equity) 258 262 150 100 Finance facility limit 158 135 FY11 FY12 FY13 FY14 1H15 Finance facility headroo
Slide 7: 1H FY2015 Financial Highlights, Operational Overview, Market Conditions & Outlook
For personal use only 1 1H FY2015 Financial Highlights 2 Operational Overview 3 Market Conditions & Outlook 7
Slide 8: Sustainable Earnings from Long Term Projects
Sustainable Earnings from Long Term Projects — Pipeline at 30 June 2014 6 (Carine Rize ~ Carne Nonh West Residental / Med Use 2 Emeraid Park ~evetard ‘Sou West Residental Land a \Marners Cove - Mandurah ‘soun consi 7 Hamsasie Green - Hartadsie ‘Soun East Residental / Med Use a Pisrs Central - Piara
Slide 9: Strong property portfolio and mature land bank
Strong property portfolio and mature land bank Brabham Carine Rise Bushrr Brisbane (Upper Kedron) Melboume The Brook at Byford Byford on the Sc Emerald Park gles Bay Marina SHER : s Bay Marina The Jett ezitnaterd St Albans The Ri anbury Village Realm at Camberwell Clayton South is, Mariners Cove can
Slide 10: Western Australia operational update
For personal use only • Cedar Woods’ experience in WA shows that well-located projects, close to transport infrastructure and in growth corridors, continue to generate strong buyer demand. • Sales activity continued at: – Mariners Cove, Piara Central, Rivergums, Elements, Byford on the Scarp and the
Slide 11: Brabham and Bushmead
Brabham • Master-planned community 22km from Perth’s CBD to include For personal use only 480 lots, sites for a primary school, 3ha neighbourhood park and conservation land • Conditional subdivision approval granted January 2015 • Construction commenced May 2015 • Sales commence June 2015 • First se
Slide 12: North Baldivis and Mangles Bay
North Baldivis For personal use only • Local Structure Plan Mar 16 • Subdivision Approval May 16 • Marketing Jan 16 • Construction Jun 16 • Settlements expected Jan 17 (FY17) Mangles Bay • Completion of statutory planning in FY16 • Commence construction in FY17 12
Slide 13: Victoria operational update
For personal use only • Positive market conditions for residential property developers continued in 1H FY2015 • CWP projects performed well in 1H FY2015 – Price growth achieved, sales remained strong • Comprehensive delivery program underway at Williams Landing • Stage 1 of $23m Williams Landing sho
Slide 14: Williams Landing town centre
• Williams Landing town centre comprises 45 hectares of prime land adjacent For personal use only to rail station, freeway interchange and bus terminal • Town centre infrastructure, Masters store and Stage 1 retail now complete • Pipeline of projects to be delivered over a 10 year period: – Office d
Slide 15: St Albans and Jackson Green
For personal use only St Albans • 17km from Melbourne CBD, close to St Albans shopping district, train station and Victoria University • Integrated residential community of over 200 dwellings • Early planning works complete, masterplan approvals advancing • First stages expected to be lodged for app
Slide 16: Upper Kedron
Upper Kedron For personal use only 13km West of Brisbane CBD • Planning 6 – 9 months to June 15 16 • Stage 1 construction 9 months to April 16
Slide 17: Upper Kedron aerial image
Upper Kedron For personal use only 13km West of Brisbane CBD Aerial Image 17
Slide 18: Upper Kedron planning approvals
For personal use only • Upper Kedron development received Brisbane City Council (BCC) planning approvals in December 2014 • The BCC approved a masterplan for the site with the capacity for 980 lots • Detailed design work for the initial stages now underway • Stage applications to be made progressive
Slide 19: Upper Kedron state government review
For personal use only • Approval is being reviewed by the Queensland Government • State Government review has caused a delay in the commencement of development works beyond what was anticipated – approximately 6 months • Any changes to the scale of development approved by Council in December 2014 ma
Slide 20: 1H FY2015 Financial Highlights, Operational Overview, Market Conditions & Outlook
For personal use only 1 1H FY2015 Financial Highlights 2 Operational Overview 3 Market Conditions & Outlook 20
Slide 21: Population growth by state
For personal use only 8,000 7,545 2.5 7,000 2 5,866 6,000 Population 4,741 1.5 Population 5,000 ('000) Growth (%) 4,000 2.1 1 1.8 3,000 1.4 1.5 2,589 0.5 2,000 1,000 0 NSW VIC QLD WA Population at end Sep Qtr 2014 '000 Change over previous year % Source: ABS 3101.0 • Population growth in states with
Slide 22: Western Australia employment by industry
For personal use only Retail & Wholesale Trade 11% Construction, Rental & Mining Real Estate 9% 14% Manufacturing 8% All other categories 21% Transport, Postal & Warehousing 6% Professional, Scientific, Technical 10% Health 9% Education & Training Public Administation& 6% Safety 6% Peak mining emplo
Slide 23: Confidence
For personal use only CONFIDENCE 23 Source: CBA Economic Update
Slide 24: For personal use only
For personal use only 24 Source: CBA Economic Update
Slide 25: For personal use only
For personal use only Source: HIA (February 25 2015)
Slide 26: Forecast housing starts by state
VIC QLD WA For personal use only 35 31.76 31.09 31.05 29.63 29.12 30 28.52 26.83 27.03 25.2 24.91 25 22.73 22.14 22.51 000's 19.38 19.03 20 17.54 17.22 18.35 15 10 5 0 2013/14 (a) 2014/15 2015/16 2016/17 2017/18 2018/19 Source: HIA (February 2015) • Forecast housing starts in states with Cedar Woods
Slide 27: Outlook and FY2015 guidance
For personal use only • Cedar Woods maintains full year earnings guidance for FY2015 for a record NPAT of $41 million • Positive outlook underpinned by pre-sales of $75 million at end of third quarter, to settle in FY2016 • Development program is on track, backed by continued strong presales and dis
Slide 28: Disclaimer of liability
For personal use only Disclaimer of liability While every effort is made to provide complete and accurate information, Cedar Woods Properties Limited does not warrant or represent that the information in this presentation is free from errors or omissions or is suitable for your intended use. Subject
Slide 29: Office contact details
For personal use only Perth Office Melbourne Office Brisbane Office Ground Floor Level 1 Level 8 50 Colin Street 476 St Kilda Road 123 Eagle Street West Perth WA 6005 Melbourne VIC 3004 Brisbane QLD 4000 T: (08) 9480 1500 T: (03) 9820 1777 T: (07) 3007 2900 E: email@cedarwoods.com.au E: melbourne@ce
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