Slide 1: 1H25 Results
1H25 Results 20 FEBRUARY 2025
Slide 2: Agenda
1H25 Results AGENDA 01 02 03 04 05 Group Results Operating Outlook Q&A Highlights Overview Performance
Slide 3: Leading Australian developer of quality residential communities
Leading Australian developer of quality residential communities with a proven track record for 130 years PIPELINE OF 32,130 LOTS • Property development company established in 1895 • Large, nationally diverse land bank provides economies of scale to deliver a wide range of JOINT VENTURES 1,463 LOTS1
Slide 4: Strong Platform for Growth
Strong Platform for Growth GEOGRAPHICALLY DIVERSE PIPELINE 130-YEAR TRACK RECORD OF DEVELOPING • Benefits from various growth corridors – positioned for THROUGH CYCLES future Australian population growth • Allows Peet to leverage state-based fluctuations • Ability to manage land bank and capital thr
Slide 5: Our Commitment to Sustainability
Our Commitment to Sustainability As a leading residential developer with a large national footprint, our approach focuses on sustainable practices to create long-term shared value for our communities, shareholders and people ENVIRONMENT | SOCIAL | GOVERNANCE 1H25 HIGHLIGHTS ENVIRONMENTALLY CONSCIOUS
Slide 6: Group Highlights
Group Highlights
Slide 7: 1H25 Results Highlights
1H25 Results Highlights STRONG UNDERLYING PERFORMANCE IN MIXED MARKET CONDITIONS FINANCIAL OPERATIONAL 1H25 Net Operating Earnings 1H25 DPS Operating Profit1 per Share $25.2m 5.38c 2.75c 1,370 1,009 Up 63% on 1H24 Up 64% on 1H24 Up 83% on 1H24 LOTS5 SOLD LOTS5 SETTLED Up 24% on 1H24 Down 9% on 1H24
Slide 8: Delivering against our Strategy
Delivering against our Strategy SIGNIFICANT VALUE CONTINUING TO BE UNLOCKED INVEST EXPAND MAINTAIN VALUE in high quality land in strategic product offering and geographic focus on capital CREATION locations across country presence to appeal to wider management variety of customers • Land bank weight
Slide 9: 1H25 Strategic Deliverables
1H25 Strategic Deliverables INVEST MAINTAIN VALUE in high quality land in focus on capital strategic locations management CREATION NEW NEW CAPITAL FLAGSTONE CITY UNIVERSITY OF ACQUISITIONS PARTNERSHIPS TOWN CENTRE CANBERRA • Acquired c.480 lots in Palmview, • Joint venture with Tokyo Gas Real • Stat
Slide 10: Platform for Growth
Platform for Growth Total Increased financial returns with Shareholder Focus on growth strong earnings visibility Returns opportunities: Growth Platform - Product diversification Value adding opportunities - Targeting growing customer base Strategic Acquisitions Create and unlock value via - Targeti
Slide 11: Strong Foundations Built Over Time
Strong Foundations Built Over Time Our long life, high margin portfolio of projects has been strategically acquired and developed since 2014 and now underpins a confident outlook over the next decade PROJECT STATE 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2
Slide 12: Results Overview
Results Oyepyrenr Where Vail belong
Slide 13: Group 1H25 Financial Results
Group 1H25 Financial Results KEY PERFORMANCE STATISTICS 1H25 1H24 VAR (%) Lot sales1 1,370 1,106 24% Lot sales higher due to increased activity in Qld and WA Lot settlements1 1,009 1,111 (9%) Settlements lower predominantly driven by Vic market conditions Revenue2 $182.5m $156.9m 16% Group revenue h
Slide 14: Group Cash Flow Summary
Group Cash Flow Summary STRONG OPERATING CASH FLOWS EXPECTED 2H25 CASH FLOWS RELATED TO OPERATING ACTIVITIES 1H25 ($M) 1H24 ($M) Receipts higher due to increased settlement revenue from Receipts from customers 178.9 156.6 Development projects and Funds Management fee income Payments for development
Slide 15: Group Balance Sheet
Group Balance Sheet CAPITAL MANAGEMENT METRICS 1H25 1H24 Does not fully reflect market value of Development projects and Total assets1 $1,098.8m $1,094.0m co-investment stakes in Funds and JVs Book NTA per share1 $1.34 $1.31 Cash and debt facility headroom of c.$130m provides capacity to Cash at ban
Slide 16: Our Shareholder Returns
Our Shareholder Returns We have returned $215m to shareholders since FY18, through fully franked dividends and our SHAREHOLDER RETURNS SINCE FY18 ($M) ongoing on-market share buy-back $23m $23m • Disciplined application of our capital management framework and strong balance sheet means shareholders
Slide 17: Operating Performance
Operating Verformonce Where Vail belong
Slide 18: Group Operating Performance
Group Operating Performance INCREASED WEIGHTING TO DEVELOPMENT PROJECTS DELIVERING RESULTS 14% Group EBITDA1 62% 11% • Earnings are higher due to price growth across the 21% EBITDA1,2 Group’s Qld, WA and SA projects COMPOSITION 4% 50% 12% 9% BUSINESS TYPE • Joint venture earnings up on price growth
Slide 19: Group Sales and Settlement Activity
Group Sales and Settlement Activity MARKET CONDITIONS IN QLD & WA DRIVING STRONG SALES PERFORMANCE 3% 13% Group lot1 sales 24% 7% 35% • Group lot sales totalled 1,370 lots1 for 1H25 10% 20% • Increased sales activity experienced across the Qld, WA SALES 16% COMPOSITION BY 7% and Vic markets GEOGRAPH
Slide 20: Enquiry levels during 1H25 remained materially higher than the 10-year average
Enquiry levels during 1H25 remained materially higher than the 10-year average 14,136 • 1H25 enquiries increased by more than 12,187 80% compared to 1H24 11,716 11,954 11,899 • Leads remain at elevated levels with 9,434 significant qualified buyer waitlists 8,896 7,838 • Focus on optimised conversio
Slide 21: Strong Financial Position
Strong Financial Position VALUE OF CONTRACTS ON HAND REMAINS STRONG PROVIDING SOLID MOMENTUM INTO 2H25 CONTRACTS ON HAND (VALUE) $930m Value of Contracts on Hand 37% $700m $661m • Reflects strong market conditions across the Group’s WA, SA and Qld markets $547m • Three new projects to commence 2H25
Slide 22: Outlook
Where Vail belong
Slide 23: New Projects Provide Medium Term Earnings Visibility
New Projects Provide Medium Term Earnings Visibility PIPELINE OF APPROXIMATELY 32,100 LOTS1 PROVIDING VISIBILITY OF FUTURE EARNINGS FY25 – FY27 NEW PROJECT RELEASE SCHEDULE2 PROJECT PROJECT LOTS1/ GDV4 LIFE PROJECT NAME STATE SEGMENT LAUNCH3 UNITS (YEARS) Communities Aston Vic Owned FY26 806 $344m 5
Slide 24: Group Outlook
Group Outlook DELIVERY PROGRAM IN PLACE TO MEET MARKET DEMAND • Various State and Territory residential markets are at different Focused on positioning the Group for points in their respective property cycles growth through a prudent approach to • Cost of living pressures and consumer confidence con
Slide 25: Appendices
Where Vail belong
Slide 26: Development Operating Performance
Development Operating Performance KEY PERFORMANCE STATISTICS 1H25 1H24 VAR (%) Higher sales driven by Flagstone, Qld Lot sales1 513 338 52% Lot settlements1 383 424 (10%) Higher revenue and EBITDA2,3 primarily due to Land only 329 388 (15%) increased settlements and higher gross margins at Flagstone
Slide 27: Funds Management Operating Performance
Funds Management Operating Performance KEY PERFORMANCE STATISTICS 1H25 1H24 VAR (%) Lot sales1 707 683 4% Lot settlements1 464 530 (12%) Revenue ($’m) 22.6 10.7 111% Share of net profit of equity accounted investments Revenue and EBITDA increased due to strong price ($’m) 4.4 3.6 22% growth across W
Slide 28: Joint Venture Operating Performance
Joint Venture Operating Performance KEY PERFORMANCE STATISTICS 1H25 1H24 VAR (%) Higher sales due to increased activity at Eden’s Lot sales1 150 85 76% Crossing, Qld and Googong, NSW Lot settlements1 162 157 3% Revenue ($’m) 17.5 14.7 19% Share of net profit of equity accounted investments ($’m) 4.2
Slide 29: Summary Income Statement
Summary Income Statement KEY PERFORMANCE STATISTICS 1H25 ($M) 1H24 ($M) VAR (%) Funds Management 22.6 10.7 111% Development 128.8 117.6 10% Joint Venture 17.5 14.7 19% Share of net profit of equity accounted investments 8.6 8.3 4% Other1 5.0 5.6 (11%) Revenue 182.5 156.9 16% EBITDA 46.9 28.9 62% Fin
Slide 30: Summary Balance Sheet
Summary Balance Sheet KEY PERFORMANCE STATISTICS 1H25 ($M) FY24 ($M) Assets Cash and cash equivalents 14.8 23.8 Receivables 81.7 74.9 Inventories 794.3 790.8 Investments accounted for using the equity method 199.0 194.9 Other 9.0 9.7 Total assets 1,098.8 1,094.1 Liabilities Payables 34.5 34.3 Land v
Slide 31: Land Bank Development Key Projects
Land Bank Development Key Projects Planning Selling PROJECT NAME STATE GDV1 LOTS REMAINING2 2025 2026 2027 2028 2029 Greenlea WA $2m 1 Glyde Street WA $64m 50 Other WA $752m 3,843 Vantage Qld $10m 316 Village Green, Palmview Qld $45m 105 Spring Mountain Qld $54m 106 Little Eagle Qld $65m 82 Lily Roc
Slide 32: Land Bank Funds Management Key Projects
Land Bank Funds Management Key Projects Planning Selling PROJECT NAME STATE GDV1 LOTS REMAINING2 2025 2026 2027 2028 2029 Shorehaven WA $760m 1,364 Brabham WA $577m 2,358 Burns Beach WA $102m 167 Elavale WA $231m 706 Glendalough WA $103m 100 Golden Bay WA $68m 269 Lakelands Estate WA $158m 559 Yanch
Slide 33: Land Bank Joint Venture Key Projects
Land Bank Joint Venture Key Projects Planning Selling PROJECT NAME STATE GDV1 LOTS REMAINING2 2025 2026 2027 2028 2029 The Village at Wellard WA $5m 59 Edens Crossing Qld $121m 305 Googong3 NSW $613m 1,099 Total Joint Venture $739m 1,463 Total Pipeline $12,709m 32,130 Notes: 1 Gross Development Valu
Slide 34: Disclaimer
Disclaimer While every effort is made to provide accurate and complete information, Peet does not warrant or represent that the information in this presentation is free from errors or omissions or is suitable for your intended use. This presentation contains forward-looking statements, including sta
Slide 35: Thank you
Thank you peet.com.au 31 | FY24 Results