Mirvac Group · ASX:MGR
Mirvac — Shareholder Meeting (November 2001)
42 slides from Mirvac's shareholder meeting presentation, Nov 1, 2001
Slide 1: Mirvac Group Annual & General Meetings
MIRVAC GROUP Mirvac Group Annual & General Meetings Thursday, 1 November 2001
Slide 2: Mr Adrian Lane
MIRVAC GROUP Mr Adrian Lane
Slide 3: Net Profit After Tax
Annual & General Meetings Net Profit After Tax MIRVAC GROUP $160m $160m $140m $140m Operating Net Profit after Tax $157.3m Up from $137.2m from the previous year $120m $120m $100m $100m 1998 1999 2000 2001 proforma proforma proforma proforma
Slide 4: Total Distribution
Annual & General Meetings Total Distribution MIRVAC GROUP $150m $150m $125m $125m Distribution 24.9¢ per security up from 24.0¢ from the previous year $100m $100m $75m $75m 1998 1999 2000 2001 proforma proforma proforma proforma
Slide 5: Performance
Annual & General Meetings Performance MIRVAC GROUP Outperformed benchmarks Total Returns For the Period Ending 30 June 2001 One Two Year Years* MIRVAC MIRVAC GROUP GROUP 17.8% 17.8% S&P/ASX S&P/ASX 200 200 Property Property Index Index 13.9% 12.9% All All Ordinaries Ordinaries Index Index 8.8% 11.2%
Slide 6: Operational Overview
MIRVAC GROUP Operational Overview Robert Hamilton
Slide 7: Divisional Profit Earnings Before Interest & Tax
Annual & General Meetings Divisional Profit Earnings Before Interest & Tax MIRVAC GROUP 2001 2000 % Investments $118,182 $111,437 +6.1% Developments $95,033 $82,016 +15.9% Hotels $15,018 $14,542 +3.3%
Slide 8: Divisional Profits Analysis
Annual & General Meetings Divisional Profits Analysis MIRVAC GROUP Development 29% Investment Hotels 64% 7% 2001
Slide 9: Investment Division - Operational Overview
Annual & General Meetings Investment Division - Operational Overview MIRVAC GROUP Investment Properties 6/01 : $1.55 billion Portfolio 98.6% occupied
Slide 10: Investment Division - Segmental Analysis
Annual & General Meetings Investment Division - Segmental Analysis as at 6/01 MIRVAC GROUP Car Car Park Park Vic. Vic. 4% 4% 14% 14% Retail Retail QLD QLD 22% 22% 7% 7% Office Office ACT ACT NSW NSW Indust Indust 69% 69% 13% 13% 66% 66% 5% 5% Sector Diversification Geographic Diversification
Slide 11: Investment Division - Market Overview
Annual & General Meetings Investment Division - Market Overview MIRVAC GROUP • Decreased demand for office space • Concentrating on tenant retention • Sub-lease space not serious competition • Tight supply of Sydney development sites • Retail demand constant
Slide 12: Investment Division - Portfolio Management
Annual & General Meetings Investment Division - Portfolio Management MIRVAC GROUP Kawana Shopping World, Met Centre * Joint Venture
Slide 13: Investment Division - Portfolio Development
Annual & General Meetings Investment Division - Portfolio Development MIRVAC GROUP Pacific Place, Chatswood Hickson Rd. Walsh Bay *
Slide 14: Investment Division - Future Opportunities
Annual & General Meetings Investment Division - Future Opportunities MIRVAC GROUP 200 George St. Lavender St Acquired post 6/01
Slide 15: Development Division
Annual & General Meetings Development Division MIRVAC GROUP 2001 Earnings Before Interest & Tax WA NSW Dev. Victoria 2% 28% 50% $95m Queensland 3% NSW Housing 17%
Slide 16: Development Division - NSW
Annual & General Meetings Development Division - NSW MIRVAC GROUP Newington, Homebush * Edgewood, on Cabarita Shores Joint Venture
Slide 17: Development Division - NSW, Walsh Bay
Annual & General Meetings Development Division - NSW, Walsh Bay* MIRVAC GROUP The Parbury Pottinger St. Houses Joint Venture
Slide 18: Development Division - NSW
Annual & General Meetings Development Division - NSW MIRVAC GROUP Encore, Elizabeth Bay Promontory, Pyrmont
Slide 19: Development Division - Housing Developments
Annual & General Meetings Development Division - Housing Developments MIRVAC GROUP Sanctuary Gardens 1 Stanhope JV 2 4 7 1 3 2 10 5 6 4 3 8 5 6 7 8 Spring Farm 9 9 Belrose 10
Slide 20: Development Division - Sanctuary at Westleigh
Annual & General Meetings Development Division - Sanctuary at Westleigh MIRVAC GROUP
Slide 21: Development Division - Major Queensland Developments
Annual & General Meetings Development Division - Major Queensland Developments Cutters Landing Hornibrook, Site * MIRVAC GROUP Arbour on Grey * Newstead, River Park * Joint Venture
Slide 22: Development Division - Major WA Developments
Annual & General Meetings Development Division - Major WA Developments MIRVAC GROUP Panorama * Burswood * Majestic Quay Mindarie Keys Joint Venture *
Slide 23: Development Division - Major Victoria Developments
Annual & General Meetings Development Division - Major Victoria Developments MIRVAC GROUP Beacon Cove * SY21 Yarra’s Edge, Melbourne * (Docklands) Joint Venture The Heath, Kingston
Slide 24: Current Exchanges as at June 2001
Annual & General Meetings MIRVAC GROUP Current Exchanges as at June 2001 2001 2000 $826m $677m No Profits Yet Brought to Account
Slide 25: Hotels Division
Annual & General Meetings Hotels Division MIRVAC GROUP
Slide 26: Hotels Division - New Hotels
Annual & General Meetings Hotels Division - New Hotels MIRVAC GROUP The Sebel Melbourne The Sebel Pier 1, Sydney The Sebel Heritage Lodge, Yarra Valley
Slide 27: Hotels Division - Operational Overview
Annual & General Meetings Hotels Division - Operational Overview - MIRVAC GROUP $15,000 $15,000 $12,500 $12,500 2,419 2,419 2,365 2,365 2,208 2,208 $10,000 $10,000 1,820 1,820 $7,500 $7,500 1,400 1,450 1,450 1,400 $5,000 $5,000 $2,500 $2,500 $0 $0 1996 1996 1997 1997 1998 1998 1999 2000 2001 1999 20
Slide 28: Mirvac Group - Key Strategies
Annual & General Meetings Mirvac Group - Key Strategies MIRVAC GROUP Utilise Experience and Skills Available Within the Group to: • Continue to create quality investment product by development • Develop selected prime sites and large scale integrated communities using capital efficient arrangements.
Slide 29: Charitable Activities
Annual & General Meetings Charitable Activities MIRVAC GROUP Youth Off The Streets
Slide 30: Environmental Initiatives
Annual & General Meetings Environmental Initiatives MIRVAC GROUP
Slide 31: Adrian Lane - Chairman
MIRVAC GROUP Adrian Lane - Chairman
Slide 32: Question Time
Annual & General Meetings MIRVAC GROUP Question Time
Slide 33: Resolutions 1, 2 & 3 - Election of Directors
Annual & General Meetings Resolutions 1, 2, 3 & 4 MIRVAC GROUP Election of Directors Ms Anna Buduls Mr Geoff Levy Mr Robert Webster Mr Paul Biancardi Valid Proxies received and entitled to vote: > 316m For: >99.91% Against & Open: < 0.09%
Slide 34: Resolution - Ratification of Stapled Security Issue
Annual & General Meetings Resolution 5 MIRVAC GROUP Ratification of Stapled Security Issue Valid Proxies received and entitled to vote: > 322m For: >99.77% Against & Open: < 0.23%
Slide 35: Resolution - Executive Director Participation in Employee Incentive Scheme
Annual & General Meetings Resolution 6 MIRVAC GROUP Executive Director Participation in the Employee Incentive Scheme Valid Proxies received and entitled to vote: >256 m For: > 77.65% Against & Open: < 22.35%
Slide 36: Resolution Simplification
Annual & General Meetings Resolution 7 Simplification MIRVAC GROUP Current Structure Mirvac Group S tapled S ecurity 1 Share 1 Unit 1 Unit Mirvac L imited MP T MCT Proposed Structure Mirvac Group 1 Share 1 Unit S tapled S ecurity Mirvac L imited MP T 100% MCT
Slide 37: General Meeting Resolution - Approve the Simplification
Annual General Meeting Resolution 7 MIRVAC GROUP Approve the Simplification Valid Proxies received and entitled to vote: >325 m For: > 99.89% Against & Open: < 0.11%
Slide 38: Changes to the Constitutions - MCT
Annual General Meeting Resolution 8 MIRVAC GROUP Changes to the Constitutions of each Entity - MCT Valid Proxies received and entitled to vote: >328m For: >99.92% Against & Open: < 0.08%
Slide 39: Changes to the Constitutions - MPT
Annual General Meeting Resolution 9 MIRVAC GROUP Changes to the Constitutions of each Entity - MPT Valid Proxies received and entitled to vote: >301m For: >99.92% Against & Open: < 0.08%
Slide 40: Changes to the Constitutions - Mirvac Limited
Annual General Meeting Resolution 10 MIRVAC GROUP Changes to the Constitutions of each Entity - Mirvac Limited Valid Proxies received and entitled to vote: >328m For: >99.93% Against & Open : < 0.07%
Slide 41: General Meeting Resolutions 5-10
Annual General Meeting Resolution 5,6,7,8,9 & 10 MIRVAC GROUP Valid Proxies received and entitled to vote: Res: 5 For:>99.77% Against & open:< 0.23% Total Votes Cast> 322m Res: 6 For:>77.65% Against & open :< 22.35% Total Votes Cast>256m Res: 7 For:>99.89% Against & open :< 0.11% Total Votes Cast>32
Slide 42: Thank you for your Attendance
MIRVAC GROUP Thank you for your Attendance