Aspen Group Limited · ASX:APZ
Aspen — H1 FY2018 Earnings Presentation
21 slides from Aspen's earnings presentation, Feb 23, 2018
Slide 1: Results Presentation 1H FY18
ASPEN GROUP LIMITED For personal use only Results Presentation 1H FY18 23 February 2018
Slide 2: Contents
Contents For personal use only 1 1H FY18 Highlights 2 Financial Results 3 Portfolio and Acquisitions Update 4 Outlook 5 Appendices
Slide 3: 1H FY18 Highlights
For personal use only 1 1H FY18 Highlights 3
Slide 4: 1H FY18 Highlights
1H FY18 Highlights 1.1 Core assets revenue and earnings growth continues through acquisitions program For personal use only PORTFOLIO FINANCIALS CAPITAL MANAGEMENT NAV increase Core assets earnings growth Zero debt balance sheet • NAV increase of 1.0 cps (pre 5.0 cps • Core accommodation asset reven
Slide 5: Financial Results
For personal use only 2 Financial Results 5
Slide 6: Key performance metrics
Key performance metrics 2.1 Performance reflects group transition through acquisitions program For personal use only 1H FY18 1H FY17 Change Operating Performance Statutory Loss $m $m % • Current year impacted by Statutory profit / (loss) (0.9) 0.5 (280%) – Investment driven acquisition and transacti
Slide 7: Reconciliation of statutory profit to operating earnings
Reconciliation of statutory profit to operating earnings 2.2 For personal use only 1H FY18 1H FY17 $m $m Statutory profit / (loss) after tax (0.9) 0.5 Tax benefit - - Statutory profit / (loss) before tax (0.9) 0.5 Change in fair value of PPE through profit and loss (0.1) 0.9 Finance costs 0.1 0.1 Tr
Slide 8: Financial position
Financial position 2.3 For personal use only December 17 June 17 Change Balance Sheet Accommodation assets $m $m $m • Two acquisitions (Koala Shores and Darwin Accommodation assets1 104.7 71.2 33.5 FreeSpirit Resort) settled for a total of $29.7 million. Assets held for sale 4.3 35.5 (31.2) Cash Cas
Slide 9: Portfolio and Acquisitions Update
For personal use only 3 Portfolio and Acquisitions Update 9
Slide 10: Portfolio
Portfolio 3.1 47% growth in core assets achieved through tourism park acquisitions For personal use only 31 December 2017 $m % 30 June 2017 $m % • Two high quality acquisitions settled and Core Core operations assumed in 1H FY18 – Koala Shores $10.2 million Retirement 33.5 31% Retirement 30.9 29% –
Slide 11: Acquisition: Darwin FreeSpirit Resort
Acquisition: Darwin FreeSpirit Resort 3.2 Aspen’s largest addition to date to its tourism portfolio For personal use only Location 17km east of Darwin NT and located on Stuart Highway. Gateway to Kakadu and Litchfield National Parks Close proximity to new Palmerston regional hospital (opening 2018)
Slide 12: Acquisition: Darwin FreeSpirit Resort - Park map
Acquisition: Darwin FreeSpirit Resort 3.3 Park map For personal use only
Slide 13: Acquisition: BIG4 Koala Shores Holiday Park
Acquisition: BIG4 Koala Shores Holiday Park 3.4 Central Coast, NSW (2hrs North of Sydney) For personal use only Location 45km from Newcastle, 25km from Tomago Van Village – establishes NSW Central Coast cluster. 15 minutes from Newcastle airport Facilities Full tourist park, water frontage, newly re
Slide 14: Aspen Portfolio
Aspen Portfolio 3.5 For personal use only Business Number NT Type of sites 9 9 Darwin FreeSpirit Tourism 430 Total 430 8 Business Number NSW Type of sites 1 Four Lanterns Retirement 102 2 Tomago Retirement 157 3 Koala Shores Tourism 143 4 Barlings Beach Tourism 258 7 1 2 5 Tween Waters Tourism 96 6
Slide 15: Accommodation portfolio
Accommodation portfolio 3.6 For personal use only RETIREMENT TOURISM CORPORATE TOTAL Four Tomago Mandurah BIG4 Barlings BIG4 Adelaide Darwin Aspen Lanterns Village Gardens Total Tween Beach Koala Caravan FreeSpirit Total Karratha Total Estate Van Park3 Estate Waters Holiday Park Shores7 Park Resort
Slide 16: Development and pipeline
Development and pipeline 3.7 Four Lanterns Estate For personal use only Development • Development underway • Development approved for 28 new homes • Agreement reached with a manufactured home provider • Construction commencement has been delayed pending approval of civil works and a new sewer connec
Slide 17: Outlook
For personal use only 4 Outlook 17
Slide 18: Outlook
Outlook 4.1 For personal use only • Group continues to expand its portfolio with acquisition funding underpinned by debt facility • Operating earnings from accommodation asset growth expected to replace non-core earnings divested • 2H FY18 distribution expected in a range of 2.1 - 2.3 cents per secu
Slide 19: Appendices
For personal use only 5 Appendices 19
Slide 20: Financials
Financials 5.1 For personal use only December 17 June 17 Balance sheet $m $m Cash 16.8 22.7 Property Assets 1 104.7 71.2 Assets held for sale / other assets 8.4 40.2 Total Assets 129.9 134.1 Debt - - Other 10.6 9.5 Total Liabilities 10.6 9.5 Net Assets 119.3 124.6 Net Assets attributed to Aspen Grou
Slide 21: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Aspen Group (“Aspen”) and should not be considered in any way to be an offer, invitation, solicitation or recommendation with respect to the subscription for, purchase or sale of any security, and neither this document nor anyth