Aspen Group Limited · ASX:APZ
Aspen — H1 FY2005 Earnings Presentation
17 slides from Aspen's earnings presentation, Feb 28, 2005
Slide 1: Aspen Group Interim Results
Aspen Group Interim Results GROUP February 2005
Slide 2: Agenda
genda 1. Aspen Group 2. Highlights 3. Financial Overview 4. Management Group 5. Property Portfolio 6. Funds Management 7. Summary 28AI2/2005,
Slide 3: Overview
Overview > Diversified property investment and management group » Stapled security structure >» $167M diversified property portfolio >» Funds management division » Aspen Parks — $43m tourist park portfolio » Register 65% institutional, 35% retail Aspen Parks | 28AI2/2005,
Slide 4: Capital and Debt Structure
Capital and Debt Structure Capital Structure Stapled Securities on Issue 512.7M Usted Options on Issue (20, Oct 08) 24.9M Unlisted Options on Issue 19.7M (18.752, 20, 25c Various Exercise dates} Debt Profile Existing Total Borrowings: $85.8M % Fixed Rate (3 to 7 years) 80% Major Securityholders % Va
Slide 5: Net Operating Profit up 80.2% pcp to $3m
Net Operating Profit up 80.2% pcp to $3m EPS up 16.7% pcp to 0.867 cents Total property assets under management up 94% to circa $200m On target to achieve FY 05 DPU of 1.67cpu Expansion into eastern states Significant savings achieved through debt refinancing $11.8m of Park acquisitions including Ai
Slide 6: Financial Performance
Financial Performance HYGS HYO4 Variance % Property Income 7.27m 6.00m + 21% Property Expenses (1.67m) (1.60M) + 4% Funds Management Income 1.50m N/A N/A Other Income 0.15m 0.06m + 150% Net Total Income 8.92m 6.06m + 47% Interest Expense 2.54m 2.00m + 27% Property Funds Management Commission 0.46m N
Slide 7: Net Profit After Tax
3,500 3,000 000's Net Profit After Tax 765 3,008 Dec 02 dun 03 Dec 03 dun 04 Dec 04 1.75 1.50 1.25 1.00 0.75 0.25 Distribution Per Security cents 1.12 1.45 1.67 2003 A 2004 A 2005 F 2003 Annualised for comparative purposes 28AI2/2005,
Slide 8: Financial Position
Financial Position Dec 04 Dec 03 Variance Investment Properties 157.2M 98.3M + 60% Other Assets 10.4M 4.6M + 126% Total Assets 167.6M 102.9M + 63% Borrowings 99.2M 64.6M + 53% Other Liabilities 3.3M 2.9M + 14% Total Liabilities 102.5M 67.5M + 52% Net Assets 65.1M 35.4M + 84% NTA (1) 15¢ 14c 47.1% Ge
Slide 9: Board of Directors
Board of Directors Reg Gillard Chairman Angelo Del Borello Managing Director Gavin Hawkins OO - Director Finance peter Hall NG enecutive Direotor Seng Fai Chan Non-executive Director Management Team Stuart Price Director- Aspen Funds Management Head of Property Stuart Martin ee Director — Property F
Slide 10: Property Portfolio
Property Property Occupancy Opportunities/issues Value Elders $37.5M 100% 29 ha future redevelopment opportunity Woolstores . Septimus Roe Entry plaza upgrade approved including Square $30.2M 87% 500sqm retail space . Acquired Dec 04 St Kilda Road $26.6M 94% Minor lobby upgrade to include coffee sho
Slide 11: Diversification
Diversification | Jun 04 Portfolio Sector Diversification Dec 04 Retail 13% Retail 8% Industrial 38% Industrial 44% Jun 04 Portlolio Geographic Diversification Dec 04 VIC 27% LD 5% WA 68% WA 100% ahi 28AI2/2005,
Slide 12: Lease Profile
‘Lease Profile » Blue chip tenants on long term leases provide security of income » 61% of leases expire FYO8 and beyond » Property income represents 81% of total group income Tenant Lease % ot Expiry Property Income Elders/Futuris 2012 25% Hewlett Packard 2008 13% Alcoa 2014 11% ACME Fine Furniture
Slide 13: Aspen Parks Property Fund
inds Mal Aspen Parks Property Fund: >» Fund Background nt >» Fragmented market providing quality property investment opportunities in excellent locations » Multiple opportunities — “grey nomads”, permanents, mining sector » 10% yield paid monthly » Highlights > Capital raising closed oversubscribed
Slide 14: Aspen Parks Property Fund Growth Opportunities
Aspen Parks Propert nt y Fund >» Growth Opportunities » Cabin expansion commencing at Perth, Karratha, and Exmouth Parks > Existing financial capacity to acquire an additional $15 m of new parks » Strong enquiry from existing investors and financial planners to increase investment » New offer docume
Slide 15: Opportunities
Opportunities > Diversified Property Fund » Unlisted open-ended fund >» Mix of commercial property in the $5m to $30m range » 8.75% yield to investor » Tax advantaged income distributions » Aspen Group to underwrite and provide restricted liquidity facility » Aspen Group to receive establishment and
Slide 16: National property group
» National property group » Well positioned to deliver sustainable growth » Continue to source new acquisitions across all markets and sectors at appropriate yields » Diversified income streams » Growth from new funds management opportunities » Return on equity focus 16 28AI2/2005,
Slide 17: Aspen Group Interim Results
Aspen Group Interim Results GROUP February 2005