Cdl Investments Nz Ltd. · NZX:CDI
Cdl Investments Nz — CDL Investments New Zealand — Shareholder Meeting (May 2025)
41 slides from Cdl Investments Nz's shareholder meeting presentation, May 30, 2025
Slide 1: 41st Annual Meeting of Shareholders
41st Annual Meeting of Shareholders Friday 30th May 2025
Slide 2: Welcome to this Hybrid Meeting
WELCOME to this Hybrid Meeting This meeting is being held in person and is being webcast The Meeting Chair is Desleigh Jameson │Independent Director Directors attending in person are; John Henderson │ Independent Director Janie Elrick (Audit Committee Chair) │ Independent Director Eik Sheng Kwek │ N
Slide 3: How to Participate in Virtual/Hybrid Meetings (Q&A)
How to Participate in Virtual/Hybrid Meetings (Q&A) Shareholder & Proxyholder Q&A Participation Written Questions: Questions may be submitted ahead of the meeting. If you have a question to submit during the live meeting, please select the Q&A tab on the right half of your screen at anytime. Type yo
Slide 4: How to Participate in Virtual/Hybrid Meetings (Voting)
How to Participate in Virtual/Hybrid Meetings (Voting) Shareholder & Proxyholder Voting Once the voting has been opened, the resolutions and voting options will allow voting. To vote, simply click on the Vote tab, and select your voting direction from the options shown on the screen. You can vote fo
Slide 5: Quorum, Proxies, Minutes
▪ Quorum ▪ Proxies ▪ Minutes of the 40th Annual Meeting of Shareholders ▪ Notice of Meeting taken as read
Slide 6: Annual Report & Financial Statements
Annual Report & Financial Statements ▪ We were pleased to get back on track in 2024 ▪ Our result reflected an improvement in the residential property market compared to 2023 ▪ We saw strong sales from Prestons Park in Christchurch, where demand and growth was highest ▪ Positive momentum shift driven
Slide 7: Annual Report & Financial Statements (cont.)
Annual Report & Financial Statements (cont.) ▪ Lodged Resource Consents for Iona Stage 2, Havelock North, Hawke’s Bay ▪ Two projects included in the Governments Fast Track Approvals Act i.e. Ruakura 2 Growth Cell (Hamilton) and Arataki Road, Havelock North (Hawkes Bay) ▪ Settled two acquisitions in
Slide 8: Chief Executive Officer
Jason Adams Chief Executive Officer
Slide 9: 2024 Financial Re-cap
2024 Financial Re-cap 2024 2023 Property Sales ($m) #Sections ($m) #Sections $17.9 Residential Sales 46.0 63.7% 92 39 28.1 53 Commercial Sales NIL NIL NIL NIL $17.9m Total Sales Revenue 46.0 63.7% 28.1 Rental Income ($m) #Properties ($m) #Properties $0.29 Rental Income 3.01 10.7% 4 2.72 4 $8
Slide 10: 2024 Financial Re-cap: Residential Section Sales
2024 Financial Re-cap (Cont…) 92 Residential Section Sales from: Tram Valley Road, Swanson, Auckland Kewa Road, Albany, Auckland 25 Section Sales 7 Section Sales Prestons Park, Christchurch 60 Section Sales
Slide 11: 2024 Financial Re-cap: Commercial Warehouses
2024 Financial Re-cap (Cont…) Commercial Warehouses FY(2024): ▪ Lease Revenue: $2.06m ▪ % Total Investment Property Revenue 75% ▪ NLA: 16,402m2 ▪ % Leased: 100% ▪ WALE (Years): 4.74 ▪ Full Occupied Rental: $2.31m (p.a)
Slide 12: 2024 Financial Re-cap: Suburban Retail Centres
2024 Financial Re-cap (Cont…) Suburban Retail Centres FY(2024): ▪ Lease Revenue: $0.69m ▪ % Total Investment Property Revenue 25% Prestons Park Local Centre ▪ NLA: 3,411m2 ▪ % Leased: 80% ▪ WALE (Years): 4.62 ▪ Estimated Full Occupied Rental: $1.25m (p.a) Stonebrook Local Centre
Slide 13: NZ Property Market Drivers in 2024
NZ Property Market Drivers in 2024 ❑ Easing Inflation: Consumer Price Index (CPI) (Annual % Change) Annual inflation 2024 = 2.2% 2.5% (2023) ▪ Annual Inflation 2023: 4.7% ▪ Pre-COVID Pandemic (Feb-20): 2.5% ▪ Pandemic Low (Sept-21): 1.5% ▪ Post Pandemic Peak (Jun-22) 7.3% Source: RBNZ Source: RBNZ
Slide 14: NZ Property Market Drivers in 2024 (Cont…)
NZ Property Market Drivers in 2024 (Cont…) ▪ Easing mortgage rates improving purchasers ability to secure bank finance to purchase sections ▪ Building costs are easing but still remain high and are impacting purchasers decisions to build ▪ Increasing existing housing inventory is providing purchaser
Slide 15: Completed & Sold-Out Developments
Completed & Sold-Out Developments Tram Valley Road, Swanson, Auckland ▪ Subdivision completed ▪ All sections sold and settled Kewa Road, Albany, Auckland ▪ Subdivision completed ▪ All sections sold and settled
Slide 16: Completed Developments
Completed Developments Prestons Park, Marshlands, Christchurch Stage 5 Mairehau Road Upgrade Snellings Drain Naturalisation ▪ Construction completed ▪ Mairehau Road upgrade and ▪ Completed ▪ Sections on the market for sale adjacent sections completed and on market for sale
Slide 17: Work in Progress: Iona Overview
Work in Progress Iona Overview Iona, Stage 1, Havelock North Hawkes Bay ▪ Subdivision consent issued Jul 2023 ▪ Earthworks commenced Oct 2023 ▪ Stage 1 Infrastructure Approval issued Feb 2024 ▪ Stage 1A & 1B (34 lots) titles issued Apr 2025 ▪ Stage 1C & 1D (56 lots) titles due in Q3(25) ▪ Stage 1E &
Slide 18: Work in Progress: Iona Stage 1A & 1B Scheme Plan
Work in Progress (Cont…) Iona Terraces Stage 1A & 1B Scheme Plan ▪ Construction complete, titles issued Apr 2025 ▪ Sections on market for sale Stage 1A & 1B Section Yield # Lots Total # Section Type (Nett) Lots Standalone Lots 33 33 CRD Lots 1 21 Existing Houses - - 34 54
Slide 19: Work in Progress: Iona Stage 1 Scheme Plan
Work in Progress (Cont…) Iona Terraces Stage 1 Scheme Plan Stage 1 Section Yield # Lots Total # Section Type (Nett) Lots Standalone Lots 101 101 CRD Lots 7 72 Existing Houses 2 2 110 175
Slide 20: Iona Stage 1: Construction Progress
Work in Progress (Cont…) Iona Stage 1: Construction Progress
Slide 21: Work in Progress: Worsleys Road
Work in Progress (Cont…) Worsleys Road (26Ha) Cashmere, Christchurch ▪ Land purchased Oct 2023 ▪ Subdivision Scheme plan section yield = 67 lots ▪ Land use consents Earthworks approved ▪ Delays with subdivision consent, expected Q3(25) ▪ Earthworks scheduled to commence Q4(25)
Slide 22: Worsleys Road Scheme Plan
Work in Progress (Cont…) Worsleys Road Scheme Plan
Slide 23: Work in Progress: Highlands Drive, Richmond
Work in Progress (Cont…) Highlands Drive, Richmond, Tasman District Highlands Drive (10.8Ha) Richmond, Nelson/Tasman ▪ Land purchased Jan 2024 ▪ Consented development yielding 65 lots ▪ Upside potential of 12 - 16 lots, subject to new consents ▪ Commence earthworks Oct 2025
Slide 24: Highlands Drive Scheme Plan
Work in Progress (Cont…) Highlands Drive Scheme Plan Lot 98: Additional 8 Lots * Lot 87: Additional 4 Lots * * Subject to new Resource Consent
Slide 25: Work in Progress: Lucas Terrace, Nelson
Work in Progress (Cont…) Lucas Terrace, Nelson Lucas Terrace (3.2Ha) Nelson ▪ Land purchased Dec 2023 ▪ Consented development yielding 34 lots ▪ Current scheme not feasible, re-scheme required ▪ New Subdivision Consent application to be lodged Q4(25)
Slide 26: Fast Track Project: R2 Growth Cell
Work in Progress (Cont…) Fast Track Project R2 Growth Cell (139Ha) Puketaha, Hamilton ▪ R2 project accepted as listed project in Fast Track Approvals Act ▪ Master planning and infrastructure design underway ▪ Mix of residential and industrial land use/zoning ▪ 6.5Ha of additional land acquired in 20
Slide 27: Fast Track Project: Arataki Road
Work in Progress (Cont…) Fast Track Project Arataki Road (11.2Ha) Havelock North, Hawke’s Bay ▪ Arataki project accepted as Listed Project in Fast Track Approvals Act ▪ Master planning and infrastructure design is well advanced ▪ Fast Track application lodgement targeting Jun 2025 ▪ Earthworks comme
Slide 28: 2024 Acquisitions
2024 Acquisitions Wairakei Road, Harewood, Christchurch ▪ 10.1HA General Industrial zone land acquired and settled Sept 2024 ▪ Scheme plan well advanced. Yield 29 lots ▪ Earthworks consents approved ▪ Subdivision consent scheduled to be lodged Jun 2025 ▪ Consent expected Sept 2025 ▪ Earthworks due t
Slide 29: 2024 Acquisitions (Cont…)
2024 Acquisitions (Cont…) Rabart Block (6.54Ha), Gordonton Road, Puketaha, Hamilton
Slide 30: April 2025 YTD Sales
April 2025 YTD Sales 2025 Sales Location Map ▪ Residential Section Settlements 2025 YTD = $4.85m ▪ Unconditional sales yet to settle in 2025 = $14.03m ▪ 2025 Sales/Settlements from: - Iona, Havelock North, Hawkes Bay - Prestons Park, Christchurch Hawkes Bay • Iona Stage 1 ▪ The residential housing m
Slide 31: CDI Cash Position
CDI Cash Position ▪ Cash & term deposits: $18.7m (as at 30 April 2025) (42.0m in 2024) ▪ Bank borrowings Nil
Slide 32: Our Pipeline
Our Pipeline We have a solid Pipeline ▪ Total land holding 310.7Ha AUCKLAND PROJECTS ▪ Maintained a nationwide geographical spread • Trig Road, West Harbour ▪ Diverse portfolio, offers flexibility for diversification HAMILTON PROJECTS • Gordonton Road, Puketaha ▪ Continually looking to grow our Port
Slide 33: Acquisition Opportunities
Acquisition Opportunities ▪ The current environment continues to produce a number of acquisition opportunities ▪ Vendors’ price expectations remain high in the current market ▪ Lack of infrastructure capacity impacts development feasibility, not presently being acknowledged or accepted by Vendors ▪
Slide 34: CDL has Grown
CDL has Grown Geoff Donley Sian Camp Toni Ira Accountant/Financial Controller Sustainability Manager Iona Development Manager CDL Investments & CDL Land CDL Investments & CDL Land CDL Land
Slide 35: 2024 Climate Statement
2024 Climate Statement Governance ▪ CDI Board ▪ CDL Management ▪ CDL Sustainability Manager ▪ External Consultants Strategy ▪ Current Climate Impacts ▪ Climate Risk Management ▪ Scenario Analysis 1-5° | 2-0° | 3-0° scenarios ▪ Timeframes Short | Medium | Long term ▪ Risks & Opportunities ▪ Physical
Slide 36: 2025 Outlook
2025 Outlook ▪ Year to date the market has been subdued, and trading conditions are softer than envisaged. Our current indications are that this will mean that our forecasts for FY 25 half year and also full year FY 25 are likely to be difficult to achieve. A further update will be provided with the
Slide 37: Election of Directors
ELECTION OF DIRECTORS ▪ Resolution #1: Re-election of Janie Elrick as a Director
Slide 38: Auditors Appointment & Remuneration
AUDITORS APPOINTMENT & REMUNERATION ▪ No other nomination received - KPMG are reappointed as the Company’s auditors ▪ Resolution #2: that the Directors be empowered to fix the remuneration of the Auditors for the year ending 31 December 2025
Slide 39: John Henderson is retiring as a Director
John Henderson is retiring after 19 Years as a Director of CDL Investments NZ Limited
Slide 40: General Business
GENERAL BUSINESS NEW ZEALAND LIMITED
Slide 41: Close of Meeting
CLOSE OF MEETING Thank you for attending
CDL Investments New Zealand — Shareholder Meeting (May 2025) on 6ix