21 slides from Melcor Developments's shareholder meeting presentation, Jun 25, 2024
Slide 1: 2024 Annual General Meeting
2024 ANNUAL GENERAL MEETING June 25, 2024 1
Slide 2: Voting Instructions
§] Broadcast 1. To set the number of directors to be elected at the Meeting to at eight (8) 2a. Elect Director, Douglas Goss 2 b. Elect Director, Andrew Melton °
Slide 3: Q&A Instructions
Q&A INSTRUCTIONS x LUMI x 248-859-262 ft Home JR MEssaGING Language 2) Messaging Log out Ask a question Ls | ALL MESSAGES MY MESSAGES, MELCOR :
Slide 4: Forward Looking Statements
Forward Looking Statements This presentation contains statements that are forward-looking. Forward-looking statements are disclosures regarding possible events, conditions, or results of operations that are based on assumptions about future economic conditions, courses of action and include future-o
Slide 5: Agenda
AGENDA Formal Business • Call to Order ◦ Financial Statements ◦ Fixing the Size of the Board ◦ Election of Directors ◦ Appointment of Auditors • Adjournment Management Presentation Q&A 5
Slide 6: Director Nominees
DIRECTOR NOMINEES Doug Goss QC AOE Andrew Melton Kathy Melton ICD.D Timothy Melton Edmonton, AB Calgary, AB Calgary, AB Edmonton, AB Bruce Pennock CA CPA Janet Riopel ICD.D Catherine Roozen AOE LLD Ralph Young PENG MBA Edmonton, AB Edmonton, AB Edmonton, AB Edmonton, AB 6
Slide 7: Agenda
AGENDA Formal Business • Call to Order ◦ Financial Statements ◦ Fixing the Size of the Board ◦ Election of Directors ◦ Appointment of Auditors • Adjournment Management Presentation Q&A 7
Slide 8: Your Executive Team
YOUR EXECUTIVE TEAM Timothy Melton Naomi Stefura Executive Chair & Chief Operating Officer & Chief Executive Officer Chief Financial Officer Years with Melcor: 50+ Years with Melcor: 15 Industry Experience: 50+ Industry Experience: 17 8
Slide 9: Annual General Meeting
2024 ANNUAL GENERAL MEETING June 25, 2024 9
Slide 10: The Rest of the Team
THE REST OF THE TEAM Randy Ferguson Susan Keating Leah Margiotta Graeme Melton Sinead O'Meara Robyn Salik Senior VP, Properties VP, Land - Edmonton VP, Properties VP, Land - Calgary VP, Finance VP, Accounting & Corporate Services 10
Slide 11: 2023 Financial Results
2023 FINANCIAL RESULTS REVENUE GROSS MARGIN NET INCOME $315.2m 45.2% $63.0m 2022 $241.7m 2022 48.9% 2022 $89.4m FFO FFO/SHARE DIVIDEND PAID $84.5m $2.73 $0.64 2022 $60.9m 2022 $1.88 2022 $0.58 11
Slide 12: Funds From Operations ($000s)
FUNDS FROM OPERATIONS ($000s) $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 12
Slide 13: 2023 Key Metrics
2023 KEY METRICS LOTS SOLD (CAD) LOTS SOLD (US) DEBT REDUCTION 1,149 234 70.19m 2022 1,060 2022 0 2022 (23.45m) SF TRANSFERRED COMMITTED OCCUPANCY ROUNDS PLAYED 22,140 89% 123,187 2022 36,846 2022 90% 2022 123,442 13
Slide 14: $2.1 billion in assets
LAND PROPERTIES & REIT GOLF $2.1 9,815 4.77m 4 billion in acres raw land sf commercial assets under management golf courses assets 607 466 single-family lots residential units 163 22,140 103,925 multi-family & sf completed sf in development other acres 14
Slide 15: Divisional Revenue 2014-2023
Golf Properties Land DIVISIONAL & REIT REVENUE: 2014-2023 15
Slide 16: Land
REVENUE LOT SALES BY REGION $201.8m Calgary Edmonton 2022 $135.8m USA Other LAND GROSS MARGIN 39% 2022 39% LOT SALES 1,383 2020 2021 2022 2023 2022 1,060 16
Slide 17: Properties
REVENUE NEW DEVELOPMENT (sf) PROPERTIES $43.2m 22,140 2022 $43.4m 2022 36,846 GROSS MARGIN ACTIVE DEVELOPMENT (sf) 58% 103,925 2022 60% 2022 61,850 17
Slide 18: REIT
REVENUE NET OPERATING INCOME $73.9m $46.6m REIT 2022 $74.1m 2022 $46.3m GROSS MARGIN OCCUPANCY 58% 88% 2022 58% 2022 88% 18
Slide 19: Golf
REVENUE ROUNDS PLAYED $11.1m 123,187 GOLF 2022 $10.5m 2022 123,442 GROSS MARGIN 41% 2022 41% 19
Slide 20: Annual General Meeting
2024 ANNUAL GENERAL MEETING June 25, 2024 20
Slide 21: Q&A Instructions
MELCOR Q&A INSTRUCTIONS x LUMI x 248-859-262 ft Home JR MEssaGING Language 2) Messaging Log out Ask a question Ls | ALL MESSAGES MY MESSAGES, 21