Abacus Group · ASX:ABG
Abacus — Shareholder Meeting (November 2021)
28 slides from Abacus's shareholder meeting presentation, Nov 17, 2021
Slide 1: 2021 Annual General Meeting
17 November 2021 2021 Annual General Meeting Attached are the Chair and Managing Director Addresses and Presentation to be given at the Abacus 2021 Annual General Meeting, being held today at 2:30pm AEST. END INVESTOR & MEDIA ENQUIRIES Cynthia Rouse Head of Investor Relations and Corporate Communica
Slide 2: Chair Address
ABACUS PROPERTY GROUP 2021 AGM CHAIR ADDRESS – Myra Salkinder Sydney, 17 November 2021 Good afternoon and welcome to the 2021 Abacus Property Group Annual General Meeting. My name is Myra Salkinder, and I am the Chair of the Group. On behalf of the Board, I’d like to acknowledge the Gadigal pe
Slide 3: Chair Address: meeting procedures
in conjunction with the meetings of the members of: – Abacus Trust, – Abacus Income Trust, and – Abacus Storage Property Trust. If we encounter any technical issues resulting in securityholders being unable to reasonably participate in this meeting, I will adjourn for 30 minutes, after which time
Slide 4: Executing strategy and capital deployment
to continue to execute on our strategy to invest capital in targeted real estate opportunities that deliver long-term sustainable outcomes through active management. Our vision to create exceptional long-term value, together with our embedded values of being entrepreneurial, responsible, and accou
Slide 5: Sustainable practices and enhancements
Sustainable practices and enhancements continue to be embedded into how we conduct business and as part of our strategic repositioning, Abacus has made a considerable reinvestment in people, culture, processes, and systems. During FY21 the Board set clear sustainability targets to improve our en
Slide 6: Managing Director Address
ABACUS PROPERTY GROUP 2021 AGM MANAGING DIRECTOR ADDRESS – Steven Sewell Sydney, 17 November 2021 Good afternoon and welcome everyone. I’d also like to acknowledge the Gadigal people of the Eora Nation, the traditional custodians of this land and pay my respects to the Elders both past, present
Slide 7: Self Storage and portfolio investments
These investments have enhanced our portfolio quality and are expected to underpin long term stability of income. SELF STORAGE Abacus has been investing in the Self Storage sector since 2005 and has been able to accumulate a high quality portfolio of 115 existing and future locations, with a val
Slide 8: Office and Retail portfolio performance
to 95.5%7, and year end the Office Portfolio weighted average lease expiry (WALE) increased to 3.9 years7. During the first quarter, COVID-19 related disruptions in a number of our key Office markets have impacted leasing transaction volumes, but pleasingly occupancy was flat, WALE stable and ince
Slide 9: 2021 Annual General Meeting
2021 Annual General Meeting 17 November 2021
Slide 10: Chair Address
Chair Address Myra Salkinder
Slide 11: Abacus Business Model
Abacus Business Model 3 Abacus Property Group | 2021 Annual General Meeting
Slide 12: Commercial capital deployment
Commercial capital deployment 4 Abacus Property Group | 2021 Annual General Meeting
Slide 13: Self Storage capital deployment
Self Storage capital deployment 5 Abacus Property Group | 2021 Annual General Meeting
Slide 14: Platform metrics FY21
Platform metrics FY21 PROFORMA1 WEIGHTED NET PROFORMA1 TOTAL AVERAGE TANGIBLE CAP RATE GEARING ASSETS ASSETS A$4.3bn 5.65%2,3 28.3% $3.43ps 30.0% on FY20 35bps on FY20 180bps on FY20 3.3% on FY20 STATUTORY FFO FFO PS DPS PROFIT $369.4m $136.4m 18.4cps 17.5cps4 336.0% on FY20 9.5% on FY20 5.1%
Slide 15: Public Sustainability Targets
Public Sustainability Targets Actively exploring opportunities and managing risks 7 Abacus Property Group | 2021 Annual General Meeting
Slide 16: Abacus Sustainability Strategy
Abacus Sustainability Strategy 8 Abacus Property Group | 2021 Annual General Meeting
Slide 17: Managing Director Address
Managing Director Address Steven Sewell
Slide 18: Capital deployment
Capital deployment Diligent deployment of over $2.3 billion into key sectors since FY17 has transformed Abacus into a strong asset backed, annuity style investment house Movement in Investment Portfolio1 (in millions) $4.1 Commercial Property 257 billion Self Storage 293 (16) (107) (3) 135 271 89 (4
Slide 19: Abacus DNA
Abacus DNA 11 Abacus Property Group | 2021 Annual General Meeting
Slide 20: Proforma balance sheet allocation
Proforma1 balance sheet allocation JUNE 2021 JUNE 2020 $4.3 billion of Total Assets2 $3.3 billion of Total Assets2 Commercial Self Storage Commercial Self Storage 49% 48% 55% 39% $2.1 billion $2.0 billion $1.7 billion $1.2 billion Office $1,581m Established3 $874m Office $1,493m Established3 $722m R
Slide 21: Self Storage – FY21 snapshot
Self Storage – FY21 snapshot SELF STORAGE $1.8 billion (45% of total assets1) 5.8% 63% Passing yield2 Assets located in Top 3 Significant Urban Areas3 $264 $290 RevPAM2 Average rent psm2 90.9% 75.1% Occupancy Occupancy (Established)2 (Stabilising)4 6.3% 20.1% RevPAM growth Revenue growth (Establishe
Slide 22: Commercial – FY21 Office snapshot
Commercial – FY21 Office snapshot OFFICE $1.6 billion (42% of total assets1) 95.5% 4.3% Occupancy2 LFL income growth2,3 3.9 yrs 5.50% WALE2 WACR4 100 372 Leasing deals Customers 98% 1% Rent collected5 Waivers provided6 1. As at FY21. Excludes investments in cash and other assets. 2. Excludes develop
Slide 23: Business of the Meetings
Abacus PROPERTY Business of the Meetings
Slide 24: Resolutions
Resolutions Item 1: To receive and consider the Annual Financial Report, Directors’ Report and Auditor’s Report Annual Financial Report of Abacus Property Group and its controlled entities for the year ended 30 June 2021 Item 2: To adopt the Remuneration Report for the year ended 30 June 2021 Remune
Slide 25: Proxy Results
Proxy Results Resolution For Open Against Totals Resolution 2: 712,548,692 505,184 14,563,882 727,617,758 Adoption of remuneration report Resolution 3.1: 698,145,342 504,137 29,433,377 728,082,856 Election of Mark Bloom Resolution 3.2: 719,534,586 504,561 8,047,638 728,086,785 Re-election of Mark Ha
Slide 26: Questions
Questions
Slide 27: Thank you
Thank you
Slide 28: Important information
Important information The information provided in this document is general, and may not be suitable for the specific purposes of any user of this document. It is not financial advice or a recommendation to acquire Abacus Property Group securities (ASX: ABP). Abacus Property Group believes that the i