Mirvac Group · ASX:MGR
Mirvac — Corporate Update (February 2016)
26 slides from Mirvac's corporate update, Feb 11, 2016
Slide 1: Q3 Operational Update
Q3 OPERATIONAL UPDATE 1 MAY 2014 Artist impression of 699 Bourke Street, VIC
Slide 2: Agenda
101 miller street, nsw Agenda Q3 snapshot Operational Summary and INVESTOR update guidance TOUR mirvac group I Q3 operational update I 1 May 2014 I 01
Slide 3: Q3 snapshot
broadway shopping centre, nsw q3 snapshot mirvac group I Q3 operational update I 1 May 2014 I 02
Slide 4: Q3 snapshot
Q3 snapshot Artist impression of ERA, NSW > FY14 EPS guidance of 11.8 to 12.0cpss maintained (8.3% to 10.1% growth) > Strategic portfolio and capital management initiatives: — Exchanged contracts for 50% of 275 Kent Street, Sydney above book value for $435.0m 1 — Call options granted to Blackstone t
Slide 5: Strategic portfolio management initiatives
STRATEGIC PORTFOLIO MANAGEMENT INITIATIVES Strategic transactions improve portfolio quality 1 MPT PROPORTION OF CORE AND NON-CORE ASSETS 8 > Exchanged contracts for 50% of 275 Kent Street, Sydney for $435.0m and granted call options over $391.4m non-core assets 1 Core 97.7% > Single asset risk manag
Slide 6: Capital management
CAPITAL MANAGEMENT Strategic achievements provide capital management flexibility Artist impression of 699 Bourke Street, VIC > Exchanged contracts for 50% of 275 Kent Street, Sydney and non-core asset disposals 1: — Providing flexibility to redeploy capital across the business and new strategic oppo
Slide 7: Q3 Operational update
Artist impression of 200 george street, nsw Q3 Operational update mirvac group I Q3 operational update I 1 May 2014 I 06
Slide 8: MPT in-house asset management and leasing teams deliver
MPT > Occupancy remained high across the portfolio at 97.6% 1 In-house asset management > Group earnings underpinned with a solid WALE of 4.7 years 2 and leasing teams deliver > 110 leasing deals completed during the period; 25,010sqm and 1.7% of portfolio strong portfolio metrics MPT LEASE EXPIRY P
Slide 9: Office — Passive
Office — Passive Office CONDITIONS Mirvac’s OFFICE PORTFOLIO > Vacancy across Sydney and Melbourne remains high > Occupancy remains strong at 96.0% 1 > Leasing conditions are likely to remain challenging with > Portfolio de-risked by WALE of 4.8 years 2 incentives remaining elevated > 24 leasing dea
Slide 10: Office — In development
Office — In development 699 Bourke Street, Melbourne Construction > 100.0% pre-leased to AGL for 10 years progressed to > Fund through with TIAA-CREF executed and construction of first office level has commenced above ground level Treasury Building, Perth > 98.0% pre-leased to WA Government for 25 y
Slide 11: Retail — Passive
Retail — Passive RETAIL CONDITIONS mIRVAC’S RETAIL PORTFOLIO > Emerging signs of improving retail sales following low > Broadway Shopping Centre, NSW remains No. 1 Big Gun 1 for 2014 interest rates, improving consumer confidence and the > Maintained strong occupancy of 99.3% 2 household wealth effec
Slide 12: Retail — In development
Retail — In development 35% of development pipeline completed and/or underway Retail development Stanhope Village, Stage 4, NSW projects remain on > Construction commenced in January 2014, with project completion expected May 2015 > Strong pre-leasing enquiry for Stage 4 development track to achieve
Slide 13: Industrial — Passive
Industrial — Passive industrial conditions mIRVAC’S INDUSTRIAL PORTFOLIO > Supply is expected to remain limited across Sydney and > Occupancy strong at 99.5% 1 Melbourne > Strong portfolio WALE of 8.2 years 2 > Leasing demand, incentives and rental growth are likely to > Strong pre-lease enquiry on
Slide 14: Residential — Market outlook
Residential — Market outlook 1 > Sydney’s residential market supported by limited stock; fostering urgency and driving above average price growth > Strong price growth across Sydney has resulted in declining affordability, pressure on rental yields and is facilitating new supply > Population growth
Slide 15: Residential — Q3 activity
Residential — Q3 activity > Settlement of 606 lots during the period; Chatswood Era, NSW (198 lots), Googong, NSW (79 lots) and Jane Brook, WA (66 lots) > 1,638 lots settled year to date > FY14 target lots upgraded to >2,400; driven by increased contribution from provisioned lots > $54.2m provision
Slide 16: Development — FY14 expectations and beyond
Development — FY14 expectations and beyond > On track to achieve >10% Development ROIC and normalised residential gross margin within target range of 18% to 22% for FY14 > 98.8% of FY14 and 59.1% of FY15 expected Development EBIT 1 secured through exchanged pre-sales contracts > 656 lots released du
Slide 17: Summary and guidance
8 CHIFLEY square, NSW Summary and guidance mirvac group I Q3 operational update I 1 May 2014 I 16
Slide 18: People and effectiveness
people and effectiveness Investing in our people and increasing operational effectiveness > Continued focus on business transformation projects > 45 leaders have completed INSEAD program; an additional 100 senior leaders to attend later in the year > Renewed focus on innovation mirvac group I Q3 ope
Slide 19: Summary and guidance
Summary and guidance GuidanceFY14 Group operating profit $432 – $443m Operating EPS 11.8 – 12.0cpss DPS 8.8 – 9.0cpss Weighted average securities 3,674m Target Development ROIC in FY14 >10% mirvac group I Q3 operational update I 1 May 2014 I 18
Slide 20: Investor Tour
20 bond street, NSW Investor Tour mirvac group I Q3 operational update I 1 May 2014 I 19
Slide 21: 200 George Street, NSW
200 George STreet, NSW Project description: ARTIST IMPRESSION OF 200 GEORGE STREET, nsw > The 200 George Street development site is located at the northern end 35 34 of the Sydney CBD in a key location and incorporates three existing 33 buildings, being 190 and 200 George Street and 4 Dalley Street
Slide 22: Harold Park, NSW
Harold Park, NSW Project description: ARTIST IMPRESSION OF Harold park, nsw > Harold Park is a multi-stage residential precinct in the vibrant suburb of Glebe in Sydney’s inner west > Located just 2.5km from the Sydney CBD and surrounded by parks that extend to the Sydney Harbour foreshore, Harold P
Slide 23: Harbourside Shopping Centre, NSW
Harbourside Shopping Centre, NSW Asset summary: ASSET METRICS > Harbourside is a three-level 20,820sqm CBD retail centre Settlement date January 2014 > Focus on food, restaurant and entertainment categories: 66% of gross rent from food based retailers Acquisition price $252.0m Occupancy 1 97.5% > Ha
Slide 24: Darling Harbour Live: A once in a generation opportunity for Sydney
Darling Harbour Live: A ‘once in a generation’ opportunity for Sydney, $3 billion urban regeneration International Convention and Exhibition Centre opening december 2016 “The Haymarket” High class Entertainment Centre, 40,000sqm exhibition New Convention Centre New urban neighbourhood, home to over
Slide 25: Disclaimer and important notice
Disclaimer and important notice Mirvac Group comprises Mirvac Limited (ABN 92 003 280 699) and Mirvac Property Trust (ARSN 086 This Presentation contains certain “forward looking” statements. The words “anticipated”, “expected”, 780 645). This presentation (“Presentation”) has been prepared by Mirva
Slide 26: Thank you
THANK YOU Follow us Mirvac Investor on twitter relations @MirvacIR website