Cromwell Property Group · ASX:CMW

Cromwell Property — Shareholder Meeting (November 2019)

21 slides from Cromwell Property's shareholder meeting presentation, Nov 28, 2019

  1. Slide 1: 2019 AGM Presentation

    For personal use only 2019 AGM PRESENTATION 28 November 2019 CMW – 2019 Annual General Meeting 1

  2. Slide 2: Important Information & Disclaimer

    Important Information & Disclaimer This presentation including its appendices Cromwell Property Group does not guarantee any Cromwell Ipswich City Heart Trust ARSN 154 498 923 For personal use only (Presentation) is dated 28 November 2019 and has particular rate of return or the performance of an (I

  3. Slide 3: Directors

    Directors For personal use only CMW – 2019 Annual General Meeting 3

  4. Slide 4: Meeting Agenda

    Meeting Agenda For personal use only 1. Open 2. Chair’s Address 3. CEO’s Address 4. Formal Voting 5. Items of Business 6. Questions CMW – 2019 Annual General Meeting 4

  5. Slide 5: Chair's Address

    For personal use only SECTION 2 Chair’s Address

  6. Slide 6: Cromwell Property Group Overview

    Cromwell Property Group Overview Cromwell is a real estate investor and manager operating on three continents with a global investor base For personal use only Portfolio Platform $11.9/ €7.5bn 420+ AUM people 270+ properties 15 countries 3.7m sqm 29 offices 3,800+ Legend: tenants Markets with Cromwe

  7. Slide 7: Cromwell Total Securityholder Returns (as at October 2019)

    Cromwell Total Securityholder Returns (as at 31 October 2019) For personal use only 40.00% 38.10% 35.00% 30.00% 23.90% 25.00% 22.51% 22.52% 20.00% 16.95% 15.31% 14.20% 14.61% 15.00% 13.01% 12.67% 12.34% 9.50% 10.00% 5.57% 5.00% 2.97% 1.94% 0.00% 1 year 3 years 5 years 10 years 15 years CMW Total Ret

  8. Slide 8: CEO's Address

    For personal use only SECTION 3 CEO’s Address

  9. Slide 9: Financial Update – FY19 Headline Results

    Financial Update – FY19 Headline Results FY19 Highlights FY19 Performance Versus Prior Year For personal use only FY19 FY18 Change FY19 operating profit up 11.1% Statutory profit ($M) $159.9 $204.1 (21.7%) NTA per unit of $0.97 Statutory profit 7.53 10.89 (30.9%) (cents per security) AUM up to $11.9

  10. Slide 10: Financial Update – FY19 Segment Results

    Financial Update – FY19 Segment Results1 FY19 Commentary FY19 Segment Profit Versus FY18 For personal use only  Direct Property Investment Segment profit was FY19 FY18 ($M) ($M) Change $136.1 million, up 12.9% from the prior period, driven by strong like-for-like NOI growth Direct property investme

  11. Slide 11: Financial Update – FY19 Capital Management Results

    Financial Update – FY19 Capital Management Results Strong Debt Profile For personal use only Group Gearing 60.00  Cromwell has been progressively reducing gearing and is Target Gearing Range CMW Gearing 55.00 now targeting a 30 – 40% gearing range through the cycle 50.00 45.00  Group gearing1 of 3

  12. Slide 12: Property Portfolio – Snapshot (as at June 2019)

    Property Portfolio – Snapshot (as at 30 June 2019) For personal use only 69% 28% 3% Core Portfolio Core+ Portfolio Active Portfolio Wale: 9.4 years Wale: 3.1 years Wale: 0.6 years Occupancy: 99% Occupancy: 95% Occupancy: 52% NOI growth: 3.3% NOI growth: 5.3% NOI growth: 120.6% 2 QANTAS GLOBAL HQ 207

  13. Slide 13: Property Portfolio – c.$1 Billion Development Pipeline

    Property Portfolio – c.$1 Billion Development Pipeline  Asset recycling strategy has been ongoing since 2010 with $520 million of assets sold since the start of FY18 For personal use only  Funds have facilitated development of a c.$1 billion pipeline of new value add opportunities 700 Collins Stre

  14. Slide 14: Funds Management – CEREIT (as at September 2019)

    Funds Management – CEREIT (as at 30 September 2019) Properties 103 Finland For personal use only Occupancy Rate (by lettable area) 92.0% Properties 11 Lettable Area (sqm) 61,977 Valuation (€)1 2,082.0 million Valuation (€ million) 115.5 WALE / WALB2 4.6 years / 3.7 years % of Portfolio 5.5% % Freeho

  15. Slide 15: Funds Management – Foundations in Place

    Funds Management – Foundations in Place For personal use only  Total Funds and Asset management segment profit Cromwell Funds Under Management was $28.5 million (FY18 $35.0 million)  Total segment AUM increased 3.2% to $9 billion driven by an increase in retail AUM to $2.3 billion (FY18 $2 billion

  16. Slide 16: Cromwell Property Group Strategy

    Cromwell Property Group Strategy  Objective: To provide stable and secure distributions with potential for capital growth underpinned by: For personal use only  stable long-term cash flows from long-dated direct property investment portfolio;  recurring profits from indirect investments and stake

  17. Slide 17: FY19 Outlook and Guidance

    FY19 Outlook and Guidance  Ripple effects of the US-China trade war are being felt globally 2019 Forecast GDP Growth Rates For personal use only 5.00% 4.50%  Spiking economic policy uncertainty will lead to an increase in 4.00% market volatility, and also opportunity, around the world 3.50% 3.00%

  18. Slide 18: Formal Voting

    For personal use only SECTION 4 Formal Voting

  19. Slide 19: Items of Business

    For personal use only SECTION 5 Items of Business

  20. Slide 20: Questions

    For personal use only SECTION 6 Questions

  21. Slide 21: For personal use only

    For personal use only CMW – 2019 Annual General Meeting 21

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