Lendlease Group · ASX:LLC
Lendlease — Shareholder Meeting (November 2017)
46 slides from Lendlease's shareholder meeting presentation, Nov 17, 2017
Slide 1: 2017 Annual General Meetings – Chairman and Managing Director Addresses and Presentation
17 November 2017 For personal use only 2017 Annual General Meetings – Chairman and Managing Director Addresses and Presentation In accordance with ASX Listing Rule 3.13, attached are the addresses and accompanying slide presentation to be given at the 2017 Annual General Meeting of shareholders of L
Slide 2: Annual General Meetings 2017
For personal use only Annual General Meetings 2017
Slide 3: Indigenous engagement and reconciliation
ANNUAL GENERAL MEETINGS 2017 2 Indigenous engagement and reconciliation For personal use only Lendlease’s vision for Reconciliation is one in which all our employees acknowledge and celebrate the proud heritage of Australia’s First Peoples and promote opportunities for career development, sustainabl
Slide 4: Meeting Agenda
3 For personal use only Meeting Agenda 1 Board of Directors 2 Chairman’s address 3 CEO’s address 4 Items of business Artist impression: Elephant Park, London
Slide 5: Board of Directors
4 For personal use only Board of Directors Image: Lendlease Board Directors
Slide 6: David Ryan, AO
5 For personal use only David Ryan, AO Independent Non Executive Director
Slide 7: Stephen Dobbs
6 For personal use only Stephen Dobbs, Independent Non Executive Director
Slide 8: David Craig
7 For personal use only David Craig, Independent Non Executive Director
Slide 9: Jane Hemstritch
8 For personal use only Jane Hemstritch, Independent Non Executive Director
Slide 10: Wendy Lee, Company Secretary
9 For personal use only Wendy Lee, Company Secretary
Slide 11: David Crawford, AO, Chairman
10 For personal use only David Crawford, AO Chairman
Slide 12: Steve McCann, Group CEO & Managing Director
11 For personal use only Steve McCann, Group Chief Executive Officer & Managing Director
Slide 13: Nicola Wakefield Evans
12 For personal use only Nicola Wakefield Evans, Independent Non Executive Director
Slide 14: Michael Ullmer
13 For personal use only Michael Ullmer, Independent Non Executive Director
Slide 15: Phillip Colebatch
14 For personal use only Phillip Colebatch, Independent Non Executive Director
Slide 16: Colin Carter, AM
15 For personal use only Colin Carter, AM Independent Non Executive Director
Slide 17: Philip Coffey
16 For personal use only Philip Coffey, Independent Non Executive Director
Slide 18: Chairman's address
17 For personal use only Chairman’s address David Crawford, AO Image: International House Sydney, Barangaroo South, Sydney
Slide 19: Governance, values and culture
ANNUAL GENERAL MEETINGS 2017 18 Governance, values and culture For personal use only • We are committed to exceptional corporate governance policies and practices which are fundamental to the long term success and prosperity of Lendlease • Our Core Values guide our behaviours and underpin our Code o
Slide 20: Strong FY17 Financial Performance
ANNUAL GENERAL MEETINGS 2017 19 Strong FY17 Financial Performance For personal use only • Profit after tax up 9%, earnings per stapled security up 8% • Growth in distribution per security of 10% • Return on equity of 12.9%, towards the upper end of our 10-14% target range
Slide 21: Maximising securityholder value
ANNUAL GENERAL MEETINGS 2017 20 Maximising securityholder value For personal use only Comparative Total Securityholder Return Performance 250% ASX100 LLC 200% 150% 100% 50% 0% Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Source: Bloomberg
Slide 22: Group Chief Executive Officer and Managing Director's address
21 For personal use only Group Chief Executive Officer and Managing Director’s address Steve McCann Image: Victoria Harbour, Melbourne
Slide 23: Safety
ANNUAL GENERAL MEETINGS 2017 22 Safety For personal use only Lendlease is saddened to report two fatalities occurred during FY17 on our operations in Australia, and unfortunately another fatality occurred in New York post year end. We express our sincere condolences to the families and friends impac
Slide 24: Lendlease Vision: to create the best places
ANNUAL GENERAL MEETINGS 2017 23 Lendlease Vision: to create the best places For personal use only Strategic framework Business model Competitive advantage Pillars of value
Slide 25: Global trends influencing our strategy
ANNUAL GENERAL MEETINGS 2017 24 Global trends influencing our strategy Lendlease leadership For personal use only • $34.6b1 urbanisation development pipeline Urbanisation • 13 major urbanisation projects1,2 across 8 gateway cities • A leading tier 1 engineering business in Australia Infrastructure •
Slide 26: FY17 Achievements
ANNUAL GENERAL MEETINGS 2017 25 FY17 Achievements For personal use only • Significant increase in residential apartment unit completions • Over 90,000 square metres of office leasing achieved in Australia • Successful Australian social infrastructure completions International Convention Centre New B
Slide 27: Outlook
ANNUAL GENERAL MEETINGS 2017 26 Outlook • Well positioned for future success For personal use only ̶ Earnings visibility from extensive pipeline across our business segments ̶ Financial strength and resilient business model with diversity across segments, sectors and geographies • Diversifying capit
Slide 28: 2017 Annual General Meeting Speeches
2017 Annual General Meeting Speeches - CHAIRMAN - GROUP CHIEF EXECUTIVE OFFICER & MANAGING DIRECTOR For personal use only DAVID CRAWFORD, AO - Chairman: Good morning Ladies and Gentlemen. My name is David Crawford and I am Chairman of the Lendlease Board of Directors. In meeting here today at the Hy
Slide 29: Chairman's speech: housekeeping
For personal use only Before I commence my address, I will refer to some housekeeping items. In the event of an emergency requiring an evacuation, the alert signal will be sounded and the hotel staff will respond. On the sounding of the evacuation tone, hotel staff will guide the evacuation of the f
Slide 30: Chairman's speech: introducing the Board
For personal use only I will now introduce your Board of Directors. Moving from my far left we have David Ryan, Steve Dobbs, David Craig, Jane Hemstritch, and our Company Secretary Wendy Lee. To my right is our Group CEO and Managing Director Steve McCann, Nicola Wakefield Evans, Michael Ullmer, Phi
Slide 31: Chairman's speech: overview and safety
For personal use only I will commence proceedings with an overview of the key achievements for the 2017 Financial Year. Steve McCann, Group CEO and Managing Director, will then present on the business and outlook before we move to the formal business of the meeting and the resolutions. An opportunit
Slide 32: Chairman's speech: Global Minimum Requirements
Our Global Minimum Requirements remain the foundation for our approach to managing health and safety at Lendlease. They provide a framework and empower our employees to manage the risk of health and safety. For personal use only Steve will talk more about safety in his address. 5 2017 Annual General
Slide 33: Chairman's speech: governance and Board changes
For personal use only The Board is committed to upholding exceptional corporate governance policies and practices. These are fundamental to the long-term success and prosperity of Lendlease. The Board Nomination Committee is tasked with ensuring the Board has the right skills, experience and diversi
Slide 34: Chairman's speech: new director appointment
Earlier this week I was delighted to announce the appointment of Elizabeth Proust to the Board, who will join us from 1 February 2018. Elizabeth is one of Australia’s leading business figures and has had a diverse career in the public and private For personal use only sectors for over 30 years. She
Slide 35: Chairman's speech: FY17 performance
For personal use only Turning to the performance of the company during the last year. Lendlease delivered a strong result for the financial year ended 30 June 2017, with Profit after Tax of $759 million, up from $698 million in the previous financial year. While all three operating segments recorded
Slide 36: Chairman's speech: Total Securityholder Return
For personal use only This success and performance is illustrated in the chart on screen now, which highlights Lendlease’s Total Securityholder Return of 189 per cent over the past five years. This is compared with 91.5 per cent for the ASX 100 accumulation index over the same period. Looking ahead,
Slide 37: CEO speech: safety
For personal use only STEVE McCANN – Group Chief Executive Officer & Managing Director: Thank you, David. I too would like to acknowledge the Gadigal people of the Eora nation and pay my respects to their elders past, present and future. As always, I will begin with the most important subject, safet
Slide 38: CEO speech: fatalities and safety resolve
Peter Tullett, a 29 year old maintenance contractor, died while working on our Springfield Rise communities project in Queensland on 10 April. For personal use only Jimmy Adams, a 65 year old Lendlease employee, died in a workplace incident on our NorthConnex project in Sydney on 23 May. Jonathan Lu
Slide 39: CEO speech: integrated business model
For personal use only During the year we continued to deliver on our strategy to pursue our integrated business model in targeted gateway cities around the world. We believe we have the right strategy with the right business model to maximise long-term securityholder value. We differentiate ourselve
Slide 40: CEO speech: track record and pillars of value
We now have an enviable track record of delivering large, multi-phased projects. We believe this track record has been critical in recently being named preferred bidder for the c.$7 billion Haringey Development Vehicle in London and the c.$3 For personal use only billion Milano Santa Giulia project
Slide 41: CEO speech: global trends
For personal use only Since 2009 we have built our strategy around five long-term global trends. Increasing density in cities is creating strong demand for Urbanisation projects. We now have 13 major urbanisation projects across eight gateway cities that will breathe new life into previously under-u
Slide 42: CEO speech: ageing population, sustainability, technology
The Ageing Population requires different housing solutions and greater healthcare support services in all our major markets. We have the leading retirement living business in Australia, and are looking at taking that expertise into For personal use only other regions. From a Sustainability perspecti
Slide 43: CEO speech: FY17 delivery
For personal use only We achieved a substantial amount this year, both in terms of delivery for the year just gone, and importantly, setting the business up for the future. The slide on screen outlines some of the delivery success, in particular the stellar result from our Development segment in Aus
Slide 44: CEO speech: construction delivery
The Group also introduced capital partners to the Circular Quay Tower development in Sydney. For personal use only In Construction, we delivered several significant social infrastructure projects, including the world-class International Convention Centre in Sydney, the Sunshine Coast University Hosp
Slide 45: CEO speech: gateway cities and new opportunities
For personal use only It was also a year in which the business converted several opportunities that further strengthen our foundations for future growth. We've continued to make significant progress on our very consistent and targeted gateway cities strategy, guided by the trend of urbanisation. The
Slide 46: CEO speech: outlook and diversification
We expect this underperformance will be offset by outperformance in other parts of our business. Our diversification by both sector and geography ensures our business model is more resilient to market cycles and operational challenges. For personal use only Our Investments segment provides a solid b
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