Cromwell Property Group · ASX:CMW
Cromwell Property — Shareholder Meeting (November 2018)
26 slides from Cromwell Property's shareholder meeting presentation, Nov 21, 2018
Slide 1: FY18 AGM Presentation
For personal use only FY18 AGM PRESENTATION 21 November 2018 CMW – FY18 Annual General Meeting 1
Slide 2: Important Information & Disclaimer
Important Information & Disclaimer This presentation including its appendices Cromwell Property Group does not guarantee any (ICH), Cromwell Phoenix Core Listed Property Fund (Presentation) is dated 21 November 2018 and has particular rate of return or the performance of an ARSN 604 286 071 (PCF), C
Slide 3: Meeting Agenda
Meeting Agenda For personal use only 1. Open 2. Chairman’s Address 3. CEO’s Address 4. Formal Voting 5. Items of Business 6. Questions CMW – FY18 Annual General Meeting 3
Slide 4: Chairman's Address
For personal use only SECTION 2 Chairman’s Address
Slide 5: Directors
Directors For personal use only CMW – FY18 Annual General Meeting 5
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 $11.5/ €7.3bn 380+ AUM people 320+ properties 15 countries 4.0m sqm 30 offices 3,800+ Legend: tenants Markets with Cromwe
Slide 7: Cromwell Property Group Strategy
Cromwell Property Group Strategy Offering an attractive combination of stable long term cash flows, asset enhancement capabilities and For personal use only transactional profits, and low risk exposure to Asian capital flows and European economic growth Maintaining a strong and secure balance sh
Slide 8: FY18 Key Milestones
FY18 Key Milestones 30 September Soward Way, ACT (FY18 valuation of $260 million) reaches practical completion For personal use only 4 October Sold 9.83% stake in Investa Office Fund (ASX: IOF), profit of $25 million, IRR of 18% 29 November Health and Forestry House sold for $66 million, IRR 2
Slide 9: CEO's Address
For personal use only SECTION 3 CEO’s Address
Slide 10: Financial Update – FY18 Headline Results
Financial Update – FY18 Headline Results FY18 COMMENTARY FY18 Performance Versus Prior Year For personal use only Statutory profit was $204.1 million down from FY17 FY18 FY17 Change ($277.5 million) Statutory profit ($M) 1 $204.1 $277.5 (26.5%) Operating profit was $156.8 million up 3.0% on the
Slide 11: Increased Investment Focus To Drive Future Growth
Increased Investment Focus To Drive Future Growth Cromwell is positioning itself to deliver future For personal use only Cromwell Annualised Performance Returns to 30 June 2018 operating profit growth by utilising existing liquidity and ongoing asset recycling initiatives 30.0% Success of CEREIT
Slide 12: Recycling And Reinvestment Strategy Delivers Results
Recycling And Reinvestment Strategy Delivers Results FY18 EPS exceeds guidance benefitting from continued For personal use only recycling and reinvestment strategy FY18 EPS exceeds guidance Capital raising completed; strong, secure balance sheet with low gearing, substantial cash and long debt t
Slide 13: Property Portfolio - Snapshot as at June 2018
Property Portfolio - Snapshot as at 30 June 2018 Focus on secondary assets in CBD, CBD fringe and established suburban markets with potential to outperform For personal use only Core QANTAS GLOBAL HQ CROWN STREET 700 COLLINS STREET 58% Portfolio Mascot, NSW MCKELL BUILDING Wollongong, NSW FARRER PLA
Slide 14: Property Portfolio – FY18 Value Enhancements Complete
Property Portfolio – FY18 Value Enhancements Complete Both Soward Way and Northpoint Tower, representing a combined $300 For personal use only million in capital investment, reached practical completion in FY18. Soward Way, ACT Bespoke 30,704 sqm new building constructed for Department of Social S
Slide 15: Property Portfolio – FY19+ Value Enhancement Options
Property Portfolio – FY19+ Value Enhancement Options For personal use only Victoria Avenue, Chatswood Development application submitted April 2018 to add new four storey office building, hotel, retail and other amenity to site Result of DA expected November 2018, with construction, subject to Co
Slide 16: Funds Management – Strategy Realises Benefits
Funds Management – Strategy Realises Benefits Total funds management operating profit was $39.6 million Funds Management Share of Operating Profit For personal use only (FY17 $27.7 million) continuing its growth trajectory Internal funds management operating profit was $19.4 million (FY17 $2.6 m
Slide 17: Funds Management – CEREIT Post Acquisitions
Funds Management – CEREIT Post Acquisitions Providing investors with a unique opportunity to invest in scale and diversification across Europe For personal use only Properties 98 New Countries Lettable Floor Area (sq m) 1,385,990 Finland Occupancy Rate(1)(2) (by Lettable Floor Area) 88.7% Properties
Slide 18: Funds Management – Heavy Wholesale Trading Volume
Funds Management – Heavy Wholesale Trading Volume Strong activity in wholesale funds segment with $4.7 billion of assets traded For personal use only Australia. JV with Early Light International at Northpoint Tower announced and discussions for further investment opportunities have commenced C
Slide 19: Funds Management – Retail Segment Performs
Funds Management – Retail Segment Performs Cromwell Direct Property Fund (DPF) For personal use only DPF purchased its fourth direct asset in Brisbane for $42 million Performance since inception (Aug 2013) is 11.0% annualised and it has a highly recommended rating from independent research house
Slide 20: Outlook - Australian Economic Growth Moderate
Outlook - Australian Economic Growth Moderate Australia continues to slowly re-balance away from For personal use only resources to more broad-based economic growth Business confidence is reasonable and capex surveys are positive for non-mining business investment with some major infrastructure
Slide 21: Outlook - European Economic Recovery Pauses
Outlook - European Economic Recovery Pauses EU GDP Growth Rate Maintained Eurozone economic growth slowed in the first two For personal use only quarters of 2018 but is still expected to be >2.0% for 2018 The purchasing managers index (PMIs) subsequently rose again in June, driven by stronger ac
Slide 22: FY19 Guidance
FY19 Guidance Guidance assumes maintainable transactional and funds For further information please contact: For personal use only management revenues consistent with historical performance Paul Weightman Guidance does not include potential impact of investments into CEO / Managing Director platf
Slide 23: Formal Voting
For personal use only SECTION 4 Formal Voting
Slide 24: Items of Business
For personal use only SECTION 5 Items of Business
Slide 25: Questions
For personal use only SECTION 6 Questions
Slide 26: For personal use only
For personal use only CMW – FY18 Annual General Meeting 26
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