Cedar Woods Properties Limited · ASX:CWP
Cedar Woods Properties — Shareholder Meeting (November 2013)
27 slides from Cedar Woods Properties's shareholder meeting presentation, Nov 1, 2013
Slide 1: Cover letter to ASX: 2013 AGM Chairman's Address and slides
1 November 2013 Australian Securities Exchange Limited Exchange Centre Level 4 20 Bridge Street Sydney NSW 2000 Dear Sir / Madam 2013 AGM CHAIRMAN’S ADDRESS AND PRESENTATION SLIDES Please find attached the Chairman’s address and the presentation slides for today’s Annual General Meeting. Yours faith
Slide 2: Chairman's Address
Cedar Woods Properties 2013 Annual General Meeting Chairman’s Address William Hames Good morning and thank you for joining us for the Cedar Woods Properties 2013 Annual General Meeting. My name is William Hames and I am the Chairman of Cedar Woods. FY2013 Overview Now I will provide an overview of t
Slide 3: Chairman's Address (continued): investment, dividends and outlook
In the 2013 financial year we spent $135m in acquisitions and developing our projects, and in the 2014 financial year we will continue to see substantial investment in the portfolio, and hence the need to retain capital for growth. Total dividends in the 2013 financial year represented a four per ce
Slide 4: Annual General Meeting Financial Results
XX October 2012 1 November 2013 2012 2013 Annual General Meeting FINANCIAL RESULTS •For the Year Ended 30 June 2012
Slide 5: Agenda
Agenda • Chairman’s Address, William Hames • Managing Director’s Review, Paul Sadleir • Formal Business • Ordinary Business: Consideration of financial report • Ordinary Resolution 1: Re-election of retiring director • Ordinary Resolution 2: Remuneration report 2
Slide 6: Chairman's Address
Chairman’s Address Chairman Mr William Hames 3
Slide 7: FY2013 Overview
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Slide 8: FY2013 Overview
FY2013 Overview • Record Net Profit After Tax of $36.3 million (compared to $34.25 million in FY2012) • Full year dividend payout ratio maintained at 50% of net profit: fully franked final dividend of 15 cents declared, taking full year payout to 26 cents fully franked • Low gearing provides flexibi
Slide 9: Dividend Policy
Dividend Policy 30.0 100.0% Dividends payout ratio (per cent) Final Dividend Dividends per share (cents) 25.0 Interim Dividend 75.0% 20.0 15.0 50.0% 10.0 25.0% 5.0 0.0 0.0% 2009 2010 2011 2012 2013 • Fully franked interim dividend of 11 cents per share paid on 30 April 2013 • Fully franked final div
Slide 10: Chairman's Address
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Slide 11: Managing Director's Review
Managing Director’s Review Managing Director Mr Paul Sadleir 8
Slide 12: Strong Property Portfolio and Mature Land Bank
Strong Property Portfolio and Mature Land Bank 9
Slide 13: FY2013 Summary
FY2013 Summary • Record profit underpinned by strength and diversity of Cedar Woods’ portfolio • Significant progress at Williams Landing: commenced development of Williams Landing Town Centre; train station and freeway interchanged opened • Extended WA portfolio with acquisitions at Brabham, Byford
Slide 14: WA Portfolio Highlights
WA Portfolio Highlights • Construction commenced July 2013 • Settlements anticipated in H2 FY2014 New Projects • Construction of stages 1 (60 lots) and 2 (62 lots) completed and settling • Further stage planned Brabham • 40 hectare site in NE corridor recently acquired for $22.35M • Potential for ov
Slide 15: Regional projects
Regional projects ► Construction commenced at Elements in Feb 2013 and is progressing well ► Strong demand resulting in the majority of available lots taken up ► Cedar Woods continues to see solid demand for lots at Elements and first settlements are due late this calendar year Elements ► Flexible ‘
Slide 16: Victorian portfolio highlights
Victorian portfolio highlights All 78 properties sold in this estate. Homes now progressively being built and settled. Construction of final Heritage Apartment building and Stages 12,13 and 15 completed; enquiry and sales remain strong, new apartment product to be released offering a compelling valu
Slide 17: Williams Landing
Williams Landing • New train station and freeway interchange now open; more than 1,000 residential lots have sold at Williams Landing to date • Construction of the Masters Home Improvement store under way, scheduled to open in November 2013 Williams Landing Train Station • Construction to commence o
Slide 18: Community Programs and Sponsorships
Community Programs and Sponsorships • Since 2009, Cedar Woods’ Neighborhood Grants Program has awarded more than $100,000 to community groups • Currently active in Harrisdale Green, Emerald Park and The Rivergums (WA) and Williams Landing (VIC) • Program to be introduced at Piara Central (WA) in FY2
Slide 19: The Year Ahead
The Year Ahead • Perth market is strong, Melbourne market is improving • Ongoing progress at Williams Landing • Completion of Masters Home Improvement store and commencement of rental income during FY2014 • Potential for developments to commence on other commercial and retail sites in Town Centre •
Slide 20: Company Outlook
Company Outlook • Strong momentum in current portfolio and numerous acquisition opportunities available • Poised to unlock further value at Williams Landing Town Centre • Settlements to date and presales achieved are in excess of 70% of the FY2014 budget • FY2014 Net Profit After Tax guidance of app
Slide 21: Formal Business
Formal Business Cedar @ Woods
Slide 22: Ordinary Business
Ordinary Business To receive and consider the financial report for the year ended 30 June 2013 and the accompanying directors’ report, directors’ declaration and auditor’s report. 19
Slide 23: Ordinary Resolution 1: Re-election of retiring director
Ordinary Resolution 1 Re-election of retiring director That Robert Stanley Brown, MAICD, AIFS, having retired in accordance with the company’s constitution and, being eligible, offers himself for re-election, be re-elected as a director of the company. Summary of 233 proxy votes received totalling 3
Slide 24: Ordinary Resolution 2: Remuneration report
Ordinary Resolution 2 Remuneration report That the remuneration report that forms part of the directors’ report for the financial year ended 30 June 2013, be adopted. The remuneration report is set out in the directors’ report on pages 8 – 13 of the 2013 financial report. Please note that the vote o
Slide 25: Questions
Cedar @ Woods www.cedarwoods.com. au
Slide 26: Disclaimer
Disclaimer 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 to any ter
Slide 27: Perth and Melbourne office details
Perth Office Melbourne Office Ground Floor Level 12 50 Colin Street 484 St Kilda Road West Perth WA 6005 Melbourne VIC 3004 T: (08) 9480 1500 T: (03) 9820 1777 E: email@cedarwoods.com.au E: melbourne@cedarwoods.com.au
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