Lifestyle Communities Ltd · ASX:LIC
Lifestyle Communities — Shareholder Meeting (November 2015)
22 slides from Lifestyle Communities's shareholder meeting presentation, Nov 19, 2015
Slide 1: Annual General Meeting 19 November 2015
For personal use only Annual General Meeting 19 November 2015 LIFESTYLE COMMUNITIES LIMITED - Downsize to a bigger life 1
Slide 2: Agenda
AGENDA 1. Introduction from Chairman 2. Presentation from Managing Director 3. Formal Business For personal use only This document should be read with the Disclaimer at the end of the document LIFESTYLE COMMUNITIES LIMITED - Downsize to a bigger life 2
Slide 3: Section 1: Introduction from Chairman - Tim Poole
SECTION 1 INTRODUCTION FROM For personal use only CHAIRMAN - TIM POOLE LIFESTYLE COMMUNITIES LIMITED - Downsize to a bigger life 3
Slide 4: Communities in Focus: locations in Victoria
COMMUNITY 13 communities in Focus remains LOCATIONS planning, development or in Victoria under management For personal use only Victoria provides: • Favourable planning legislation • Better access to zoned, flat land for development Community Homes Settled • Lowest saturation of land lease communiti
Slide 5: FY2015 Snapshot
FY2015 A proven business model Home sites (annuities) under management (1) SNAPSHOT structured for sustainable 1200 growth For personal use only 1100 Business Snapshot 1000 • Another strong year of settlements (240) 900 and sales (211)(1) • 1,146 occupied home sites as at year end (1,225 800 occupie
Slide 6: Financial Results: Years of Growing Annuity Income
FINANCIAL 10 Years of Growing Annuity Income RESULTS Annuity Income Streams For personal use only $12,000,000 There are two components $10,000,000 to the annuity stream: 1. Site Rental Fee $8,000,000 • Approximately $171.00 per week per home $6,000,000 • Indexed at greater of CPI or 3.5% p.a. • Gros
Slide 7: Profit & Loss
PROFIT Profit growth in line with Profit loss highlights FY2014 FY2015 % & LOSS increased settlements ($’000) ($’000) Movement Home settlement revenue 54,812 66,344 21% For personal use only • Net profit attributable to shareholders up 36% Rental 6,549 9,160 40% to $16.7 million Deferred managemen
Slide 8: Business Model
BUSINESS Lifestyle Communities has a The growing level of free cash flow from the MODEL sustainable business model community management business provides the basis for future dividends For personal use only Development Business Community Management Business Total annuities at year end Cash break eve
Slide 9: Strategy
STRATEGY For personal use only • Build on the key thematics of the ageing population, affordability and the emerging baby boomer • Maintain a strong balance sheet and liquidity buffer without requiring further equity • Pay dividends from after tax operating cash flow generated from community managem
Slide 10: Presentation from Managing Director - James Kelly
SECTION 2 PRESENTATION FROM For personal use only MANAGING DIRECTOR - JAMES KELLY LIFESTYLE COMMUNITIES LIMITED - Downsize to a bigger life 10
Slide 11: Market Environment
MARKET ENVIRONMENT For personal use only Housing Market • The continued strength of the Melbourne housing market has seen positive consumer confidence and an ability to sell their existing homes. Land Access • Focused on acquiring land in the key growth corridors in Melbourne. We have been successfu
Slide 12: Portfolio Expansion
PORTFOLIO Expansion of Shepparton Total home sites in the portfolio EXPANSION community and additional has increased by 95 homes to 2,410 land at Bittern homes as a result of the expansion For personal use only 1. Shepparton site expansion • Due to the continued strong sales achieved at Shepparton t
Slide 13: Land Acquisition
LAND In FY2015 and subsequent to year-end we have secured: ACQUISITION For personal use only 1. A new site located in Rosebud, on Melbourne’s 2. A new site located in Officer between Berwick 4. A new site in Bittern, on Melbourne’s Mornington Mornington Peninsula. This site has added 150 and Pakenha
Slide 14: Sales and Settlements
SALES AND • On target to achieve on or around 110 (1) new home settlements for 1HFY2016 New home New homes Resale homes Resale homes SETTLEMENTS • As previously advised settlements for FY16 are settlements - net sales commitments settlements settlements - net sales commitments JULY - OCT For persona
Slide 15: Overview Portfolio Snapshot
OVERVIEW Lifestyle Communities’ portfolio PORTFOLIO continues to sell through and grow SNAPSHOT For personal use only 31 OCT 2015 Communities Total home sites in Home sites sold & Home sites sold & Home sites occupied or sold communities occupied awaiting settlement and awaiting settlement # % Exist
Slide 16: Likely Settlement Programme
LIKELY Currently 2,410 homes SETTLEMENT in the portfolio (1) PROGRAMME For personal use only Community FY16 FY17 FY18 FY19 FY20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Warragul Cranbourne Chelsea Heights Hastings Shepparton Wollert Geelong Rosebud(2) Officer Berwick Waters Bitter
Slide 17: Outlook
OUTLOOK Lifestyle Communities Lifestyle Communities’ model is driven capitalises on the solid by affordability, the ageing population base established and the emerging baby boomer For personal use only for future growth • Emerging baby boomer driving increased customer interest • Approximately one i
Slide 18: Formal Business
SECTION 3 FORMAL BUSINESS For personal use only LIFESTYLE COMMUNITIES LIMITED - Downsize to a bigger life 18
Slide 19: Approval of the Remuneration Report
ITEM 3 Approval of the Lifestyle Communities Limited Remuneration Report For personal use only The instructions given to validly appointed proxies in respect of the resolution were as follows: FOR AGAINST ABSTENTION PROXY’S DISCRETION 40,169,289 687,452 7,423 161,801 LIFESTYLE COMMUNITIES LIMITED -
Slide 20: Re-election of Mr Jim Craig
ITEM 4 Re-election of Mr Jim Craig, retiring by rotation For personal use only The instructions given to validly appointed proxies in respect of the resolution were as follows: FOR AGAINST ABSTENTION PROXY’S DISCRETION 54,581,554 227,520 7,423 280,368 LIFESTYLE COMMUNITIES LIMITED - Downsize to a bi
Slide 21: Important Notice and Disclaimer
IMPORTANT • This Presentation contains general background information about Lifestyle Communities only and should not be relied upon as (and is not) an indication of future performance. not to place undue reliance on forward-looking statements and LIC assumes no obligation to NOTICE AND Limited (LIC
Slide 22: Downsize to a Bigger Life
For personal use only DOWNSIZE TO A BIGGER LIFE LIFESTYLE COMMUNITIES LIMITED Level 2, 25 Ross Street South Melbourne VIC 3205 Ph: (03) 9682 2249 www.lifestylecommunities.com.au LIFESTYLE COMMUNITIES LIMITED - Downsize to a bigger life 22
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