Sunland — H1 2015 Earnings Presentation
22 slides from Sunland's earnings presentation, February 2015
Slide 1: Half Year Results 2015
HALF YEAR RESULTS 2015 Sunland Group
Slide 2: Group Overview
GROUP OVERVIEW
Slide 3: Overview of Sunland Group
OVERVIEW OF SUNLAND GROUP Established in 1983, Sunland Group is a leading national property developer with more than three decades of experience in delivering award-winning, design- driven communities along Australia’s eastern seaboard. The Group’s core operating segments comprise Residential Housin
Slide 4: Group Narrative and Key Milestones
GROUP NARRATIVE AND KEY MILESTONES CHAPTER ONE CHAPTER TWO CHAPTER THREE CHAPTER FOUR CHAPTER FIVE CHAPTER SIX 83/90 91/99 00/05 06/09 10/14 15/BEYOND PIONEERING C R E AT I V E I N N OVAT I O N N AT I O N A L E X PA N S I O N G L O B A L G R OW T H S T R AT E G I C E V O L U T I O N NEW HORIZONS YEA
Slide 5: National Portfolio
NATIONAL PORTFOLIO The Group portfolio represents in excess of 6,000 residential homes, urban land lots and multi-storey apartments. This represents an end value of $3.6 billion to be delivered over the course of the next 5 years. MULTI-STORY RESIDENTIAL HOUSING URBAN TOTAL # 2,901 # 1,352 # 2,025 #
Slide 6: 1H15 Key Results
1H15 KEY RESULTS KEY FINANCIAL HIGHLIGHTS FOR YEAR ENDING 31 DECEMBER 2014 SALES AND SETTLEMENT ACTIVITY INCREASING WITH EARNINGS WEIGHTED TOWARDS 2H15 UNIT 1H15 1H14 % CHANGE ■■ Statutory Net Profit After Tax of $3.3 million (1H14: $3.0 million) Statutory NPAT $m 3.3 3.0 10% ■■ EPS: $1.8 cents (1H1
Slide 7: Significant Events Post December 2014
SIGNIFICANT EVENTS POST 31 DECEMBER 2014 CAPITAL MANAGEMENT DIVIDENDS DECLARED ■■ The Sunland Board declared a total of 10 cents per share fully franked dividend ■■ The Group has realised some of the inherent value within its portfolio by to be paid as follows: undertaking strategic asset sales tota
Slide 8: FY15 Interim Financial Review
FY15 INTERIM FINANCIAL REVIEW
Slide 9: Financial Performance
FINANCIAL PERFORMANCE SUMMARY FINANCIAL PERFORMANCE (YEAR ENDING 30 JUNE) $ MILLION 1H15 1H14 % CHANGE RESIDENTIAL HOUSING AND URBAN DEVELOPMENT Total revenue 101.9 57.8 76% ■■ Revenue increased markedly due to increased settlements across portfolio Revenue – sale of property 97.3 51.6 89% ■■ Projec
Slide 10: Financial Position
FINANCIAL POSITION SUMMARY FINANCIAL POSITION AS AT 31 DECEMBER 2014 ■■ Group inventory was replenished with $97 million in strategic site acquisitions $ MILLION DEC 14 JUN 14 % CHANGE representing 1,638 residential homes, urban development lots and multi-storey ASSETS apartments with an end value o
Slide 11: Operational Review
OPERATIONAL REVIEW
Slide 12: 2015 Portfolio
2015 PORTFOLIO TOWNSVILLE ■■ Bushland Beach (Urban Development) SUNSHINE COAST ■■ The Terraces (Residential Housing) BRISBANE ■■ Abian (Multi-Storey) ■■ Grace (Multi-Storey)* GOLD COAST ■■ The Lakes (Multi-Storey/Residential Housing/ Urban Development)* ■■ Marina Residences (Multi-Storey) SYDNEY ■■
Slide 13: Operational Review—Projects Under Construction
OPERATIONAL REVIEW—Projects Under Construction PROJECTS UNDER CONSTRUCTION BY PROPERTY TYPE (AS AT 31 DECEMBER 2014) UNSETTLED LOTS BY SEGMENT UNSETTLED LOTS CONTRACTED LOTS % CONTRACTED LOTS URBAN (no.) ($m) (no.) ($m) (no.) ($m) 16% $152m Multi-Storey 174 256 130 181 74% 71% HOUSING Housing 968 55
Slide 14: Operational Review—Total Development Portfolio
OPERATIONAL REVIEW—Total Development Portfolio TOTAL DEVELOPMENT PORTFOLIO BY PROPERTY TYPE (AS AT 31 DECEMBER 2014) TO BE RELEASED UNDER CONSTRUCTION TOTAL DEVELOPMENT PORTFOLIO URBAN HOUSING (no.) ($m) (no.) ($m) (no.) ($m) $456m $887m Multi-Storey 2,727 2,019 174 256 2,901 2,275.0 13% 25% Housing
Slide 15: Operational Review—Sales & Settlements
OPERATIONAL REVIEW— Sales & Settlements OPERATIONAL PERFORMANCE (HALF YEAR ENDING 31 DECEMBER 2014) 1H15 1H14 FORECAST 2H15 ■■ Significant increase in sales for the period reflecting improving market SALES conditions: Value $m 284.0 130.0 118% - Concourse Villas (QLD) Volume no. 474 281 69% - Quays
Slide 16: Operational Review—Segmental Results
OPERATIONAL REVIEW— Segmental Results SEGMENTAL RESULTS (YEAR ENDING 31 DECEMBER 2014) FY14 FY13 % CHANGE RESIDENTIAL HOUSING & URBAN DEVELOPMENT ■■ Group targets a return on development costs of 20% — this was achieved by the devlopment portfolio during the period Revenue $m 78.3 51.6 52% ■■ The fo
Slide 17: Outlook
OUTLOOK
Slide 18: Outlook
OUTLOOK 1. During the past five years, Sunland has strategically acquired premium development sites that are now contributing to our earnings profile. 2. Sunland continues to maintain a conservative approach to the staged delivery of our portfolio to navigate cycles via appropriate staging. 3. The G
Slide 19: Portfolio Details
PORTFOLIO DETAILS
Slide 20: Projects Under Construction
PROJECTS UNDER CONSTRUCTION CONTRACTED UNSOLD PROJECTS UNDER CONSTRUCTION YIELD SETTLED LOTS UNSETTLED LOTS LOTS LOTS M U LT I – S T O R EY (NO.) ($M) (#) ($M) (#) ($M) (#) ($M) (#) ($M) Abian, QLD 148 238.8 - - 148 238.8 127 177.9 21 60.9 Marina Residences, QLD 84 53.8 58 36.2 26 17.6 3 3.2 23 14.4
Slide 21: Projects To Be Released
PROJECTS TO BE RELEASED AVERAGE VALUE PROJECTS TO BE RELEASED YIELD OF UNSOLD STOCK (NO.) ($M) ($M) Mariners Cove, QLD 347 454.0 1.3 M U LT I – S T O R EY Varsity Lakes, QLD 200 86.6 0.4 Grace, Toowong, QLD 494 450.0 0.9 1 Marine Parade, QLD 168 134.3 0.8 Royal Pines – Marina Village, QLD 120 78.8 0
Slide 22: Sunland Group
Sunland Group ESTABLISHED 1943