Lifestyle Communities Ltd · ASX:LIC
Lifestyle Communities — Shareholder Meeting (November 2014)
20 slides from Lifestyle Communities's shareholder meeting presentation, Nov 20, 2014
Slide 1: Annual General Meeting 20 November 2014
Annual General Meeting 20 November 2014
Slide 2: Agenda
AGENDA 1. Introduction from Chairman 2. Presentation from Managing Director 3. Formal business This document should be read with the Disclaimer at the end of the document Lifestyle Communities Limited Downsize to a Bigger Life 2
Slide 3: 1. Introduction from Chairman - Tim Poole
1. Introduction from Chairman - Tim Poole Lifestyle Communities Limited Downsize to a Bigger Life 3
Slide 4: Community Locations
COMMUNITY LOCATIONS Community Homes Settled (1) Melton 228 100% Shepparton Tarneit 136 100% Warragul 182 97% Cranbourne 217 89% Shepparton 221 33% Chelsea Heights 186 53% Wollert Melton Hastings 141 52% Tarneit Wollert 154 - Chelsea Heights Officer Geelong Geelong 164 - Cranbourne Warragul Rosebud 1
Slide 5: FY2014 Results
FY2014 RESULTS Lifestyle Communities delivered strong growth during FY2014 Home sites (annuities) under management (1) 1000 –– 900 –– • Another strong year of settlements (211) and sales (267)(1) 800 –– • 906 occupied home sites at year end(1) 700 –– 600 –– • Over 1,300 homeowners at year end(1) 500
Slide 6: FY2014 Results: Growth in annuity income
FY2014 RESULTS Settlements and Sales 300 –– 200 –– • Another strong year of settlements and 100 –– sales - 211 home settlements in FY2014 FY2011 FY2012 FY2013 FY2014 compared to 149 in FY2013 (1) Settlements Net Sales Commitments - 267 net sales commitments in FY2014 compared to 190 in FY2013 (1) Gr
Slide 7: FY2014 Results: Profit growth
FY2014 RESULTS FY2013 FY2014 % Profit & Loss highlights ($’000) ($’000) Movement • Net profit attributable to shareholders up Home settlement revenue 36,552 54,812 50% 76% to $12.3 million Rental revenue 4,892 6,549 34% • Home settlement revenue up $18.3 million Deferred management fee(1) 381 910 13
Slide 8: Business Model
BUSINESS MODEL Lifestyle Communities has a low risk sustainable business model that does not require further equity from the market Development Business Community Management Business Cash break even after allocation Dividend flow te r as of costs to management business lf Ho ta recycle capi me Settl
Slide 9: Strategy
STRATEGY • Build on the key thematics of the ageing population, affordability and the emerging baby boomer • Maintain a strong balance sheet and liquidity buffer without requiring further equity • Pay dividends from after tax operating cash flow generated from community management business • Focus i
Slide 10: 2. Presentation from Managing Director - James Kelly
2. Presentation from Managing Director - James Kelly Lifestyle Communities Limited Downsize to a Bigger Life 10
Slide 11: Market Environment
MARKET ENVIRONMENT Housing Market • The continued strength of the Melbourne housing market has improved consumer confidence and their ability to sell existing homes. Land Access • Focused on acquiring land in the key growth corridors in Melbourne. We have been successful in acquiring sites located i
Slide 12: Land Acquisition
LAND ACQUISITION Since the AGM last year we have secured: 1. A new site located in Bell Park, Geelong. This site has added 164 homes to the pipeline. Construction has commenced in November 2014. 2. A new site located in Rosebud, on Melbourne’s Mornington Peninsula. This site has added 150 homes to t
Slide 13: Sales and Settlements - July to October 2014
SALES AND SETTLEMENTS - JULY TO OCTOBER 2014 New homes - Resale homes - New home Resale homes net sales net sales settlements settlements commitments commitments JUL-14 to JUL-14 to JUL-14 to JUL-14 to • On target to achieve on or around 100(1) new OCT-14 OCT-14 OCT-14 OCT-14 home settlements for 1H
Slide 14: Portfolio Update - 31 October 2014
PORTFOLIO UPDATE - 31 OCTOBER 2014 Lifestyle Communities’ portfolio continues to grow Home sites Homes occupied or sold Total home Home sites sold & and awaiting settlement Communities sites in sold & awaiting communities occupied # % settlement Existing Communities – Sold out Melton 228 228 - 228 1
Slide 15: Outlook FY2015
OUTLOOK FY2015 • Market sentiment in Victoria remains positive and the Lifestyle Communities brand continues to appeal to the emerging baby boomer generation • We expect new home settlements for the first half to be on or around 100(1) homes • Assuming market conditions do not change materially we e
Slide 16: 3. Formal Business
3. Formal Business Lifestyle Communities Limited Downsize to a Bigger Life 16
Slide 17: Resolution 1: Approval of the Remuneration Report
FORMAL BUSINESS Resolution 1: Approval of the Lifestyle Communities Limited Remuneration Report The instructions given to validly appointed proxies in respect of the resolution were as follows: For Against Abstention Proxy’s Discretion 44,157,257 1,037,645 14,769 123,243 Lifestyle Communities Limite
Slide 18: Resolution 2: Re-election of Mr Tim Poole
FORMAL BUSINESS Resolution 2: Re-election of Mr Tim Poole, retiring by rotation The instructions given to validly appointed proxies in respect of the resolution were as follows: For Against Abstention Proxy’s Discretion 71,259,077 264,614 121 125,743 Lifestyle Communities Limited Downsize to a Bigge
Slide 19: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER • This Presentation contains general background information about Lifestyle Communities Limited (LIC) and its activities current at 20 November 2014 unless otherwise stated. It is information in a summary form and does not purport to be complete. It should be read in
Slide 20: Lifestyle Communities Limited
Lifestyle Communities Limited Level 2, 25 Ross Street South Melbourne VIC 3205 Ph: (03) 9682 2249 www.lifestylecommunities.com.au OFFICER - ROSEBUD - GEELONG - WOLLERT - HASTINGS - CHELSEA HEIGHTS - SHEPPARTON - CRANBOURNE - WARRAGUL - TARNEIT - MELTON
Lifestyle Communities — Shareholder Meeting (November 2014) on 6ix