Taylor Wimpey Plc · LSE:TW.
Taylor Wimpey — Shareholder Meeting (April 2023)
25 slides from Taylor Wimpey's shareholder meeting presentation, Apr 27, 2023
Slide 1: Annual General Meeting
Annual General Meeting 27 April 2023
Slide 2: Disclaimer
Disclaimer For the purposes of this notice, this “presentation” shall include these slides and any question-and-answer session that follows oral briefings by representatives of Taylor Wimpey plc. This presentation is for information purposes only and is not intended to, and does not constitute or fo
Slide 3: Welcome
Welcome Irene Dorner Chair
Slide 4: Board of Directors
Board of Directors Irene Dorner Chair* Jennie Daly Chris Carney Robert Noel Humphrey Singer Scilla Grimble Lord Jitesh Clodagh Moriarty Mark Castle Gadhia Chief Executive Group Finance Non Executive Non Executive Non Executive Non Executive Non Executive Non Executive Director Director and Chair Dir
Slide 5: Welcome
Welcome Irene Dorner Chair
Slide 6: Group overview
Group overview Jennie Daly Chief Executive
Slide 7: 2022 year of delivery
2022 year of delivery ● Group completions including joint ventures of 14,154 (2021: 14,302) ● Delivered an excellent performance in tough market with an improved operating profit margin* of 20.9% ● Operational and pricing discipline core focus in 2022 and beyond ● Executed outlet openings in line wi
Slide 8: Stakeholders
Stakeholders Our employees Our customers Our partners Our communities Our investors ● Employee engagement ● 90% 8-week ‘would you ● Donated and fundraised ● Contributed £455 ● Ordinary dividend of score of 93% recommend’ score c.£1 million for million to local 9.40 pence per share (2021: 92%) regist
Slide 9: A clear strategy to manage through changing market conditions
A clear strategy to manage through changing market conditions Four cornerstones that underpin our resilience Land Operational excellence Sustainability Capital allocation 9 Taylor Wimpey Annual General Meeting 27 April 2023
Slide 10: Land: high-quality landbank a differentiator enabling agile approach
Land: high-quality landbank a differentiator enabling agile approach ● We remain highly selective but opportunistic in the land market ● c.86k plots in the short term landbank as at the end of March 2023 (2022: c.87k) located across the country, with a mix of small and large sites ● Priority is prog
Slide 11: Operational excellence
Operational excellence ● Actions to protect value for shareholders ● Prioritise a strong balance sheet ● Reduced land spend ● Tight cost control ● Closely managed work in progress ● Efficient business structure refined through change programme ● Continuing to drive performance ● Introduction of new
Slide 12: Sustainability: our journey to net zero
Sustainability: our journey to net zero 12 Taylor Wimpey Annual General Meeting 27 April 2023
Slide 13: Zero carbon ready homes
Zero carbon ready homes This specification will vary by individual homes 13 Taylor Wimpey Annual General Meeting 27 April 2023
Slide 14: Our capital allocation priorities
Our capital allocation priorities Highly cash generative business allows for investment for growth and attractive shareholder returns 1 2 3 4 Investment in land and Maintain a strong Sustainable ordinary WIP to drive future Return excess cash balance sheet dividend growth Maintain low adjusted geari
Slide 15: 2023 priorities
2023 priorities Continue to develop and Continue to ensure tight cost evolve our customer offering management and WIP to ensure an appropriate control, aligning build to balance between sales rate sales rates on a site-by-site and price in all our markets, basis whilst also working to further improv
Slide 16: Current trading and outlook
Current trading and outlook Jennie Daly Chief Executive
Slide 17: UK current trading
UK current trading ● For the year to 23 April 2023, our net private sales rate for was 0.75 (2022: 0.97) with a cancellation rate of 15% (2022: 14%) ● Sales in the period include planned bulk deals and excluding bulk deals our net private sales rate for the year to 23 April 2023 was 0.66 ● Pricing h
Slide 18: Outlook
Outlook ● Customer interest continues to recover from the weak conditions experienced in the final quarter of 2022 ● Industry sales rates remain at lower levels than in recent years and we continue to expect 2023 completions to be in the range of 9,000 to 10,500 ● Value over volume remains our key p
Slide 19: Q & A
Q & A 19 Taylor Wimpey Annual General Meeting 27 April 2023
Slide 20: Resolutions and proxy votes
Resolutions and proxy votes Irene Dorner Chair
Slide 21: Proxy vote for Resolutions
Proxy vote for Resolutions Percentage of total votes cast Number Resolution Total votes cast Votes withheld Votes in favour (%) Discretionary (%) Votes against (%) 1 2022 Annual Report & Accounts 2,345,719,122 4,837,659 99.98 0.01 0.01 2 2022 Final Dividend 2,350,371,053 185,728 98.82 0.01 1.17 3 Ir
Slide 22: Proxy vote for Resolutions
Proxy vote for Resolutions Percentage of total votes cast Number Resolution Total votes cast Votes withheld Votes in favour (%) Discretionary (%) Votes against (%) 13 Auditor’s fees 2,350,208,104 348,677 99.92 0.01 0.07 14 Authority to allot shares 2,350,207,565 349,215 94.94 0.01 5.05 Authority to
Slide 23: Annual General Meeting
Annual General Meeting 27 April 2023
Slide 24: Appendix
Appendix Annual General Meeting 27 April 2023 Taylor Wimpey plc
Slide 25: Definitions
Definitions ● Operating profit is defined as profit on ordinary activities before net finance costs, exceptional items and tax, after share of results of joint ventures. With operating profit margin defined as operating profit divided by revenue. ● Adjusted gearing is defined as adjusted net debt di