Agency Group Australia Ltd · ASX:AU1
Agency Group Australia — Investor Presentation (February 2024)
23 slides from Agency Group Australia's investor presentation, Feb 23, 2024
Slide 1: 1H FY2024 Investor Presentation
1H FY2024 Investor Presentation 22 February 2024
Slide 2: 1H FY24 Key Takeaways
1H FY24 Key Takeaways 1H FY24 Investor Presentation 2 $557K $43.9M Underlying EBITDA1 Revenues from Ordinary Activities (1H FY23: -$947K) (1H FY23 : $37.5M) $3.3B 3,115 Gross Value of Properties Sold No. of Properties Sold (1H FY23 : $2.6B) (1H FY23 : 2,847) $56.9M 411 GCI2 No of Agents (1H FY23 : $
Slide 3: Record transaction volume underpinned growth
1H FY24 Investor Presentation 3 Record transaction volume $3.0bn $3.3bn $52.9m $56.9m underpinned growth $45.8m 316,068 $2.6bn in other metrics 2,910 2,847 3,115 266,598 $2.2bn $38.1m 260,470 2,407 236,535 226,503 $1.5bn $24.9m 1,595 Record six month result of 3,115 transactions under pinned record
Slide 4: A growing brand with 411 agents across six states and territories
1H FY23 Investor Presentation 4 A growing brand with 411 agents with presence across six states and territories. The Agency has continued to expand its presence during 2022 and 2023, adding additional geographical areas to its operations. The Agency is also focused on building depth in existing mark
Slide 5: Over 10,000 investment properties managed by The Agency
1H FY24 Investor Presentation 5 Over 10,000 investment properties managed by The Agency As at 31 December 2023, The Group managed 10,092 (31 Dec 2022: 5,868) properties with an asset value of some $9bn. The property management business is comprised of 5,089 (31 Dec 2022: 4908) that are owned by the
Slide 6: Financial Highlights
1H FY24 Investor Presentation 6 Financial Highlights
Slide 7: Business Performance Update
1H FY24 Investor Presentation 8 Business Performance Update Record six month GCI result A disciplined approach to expenses enabled the cost of doing business in the half to 1H FY24 GCI of $56.9m was a record GCI for the materially reduce to 32.8% of revenue with further reductions targeted. company,
Slide 8: Significant shareholder value held off Balance Sheet
1H FY24 Investor Presentation 8 Significant shareholder value + The value attached to internally generated Property Management and remaining Mortgage book is not recorded in the balance sheet. Despite the value of the property held off Balance Sheet management portfolio increasing in the period, und
Slide 9: Industry Highlights
1H FY24 Investor Presentation 9 Industry Highlights
Slide 10: Market Update
1H FY24 Investor Presentation 10 Market Residential Real Estate $10.3 Tn Update. Australian Superannuation $3.5 Tn 56.7% of Australian Household Wealth is held in Residential Housing with a Australian Listed Stocks $2.9 Tn $6.2 Billion annual addressable sales commission market. Commercial Real Esta
Slide 11: 1H FY24 Market Sales Volume
1H FY24 Investor Presentation 11 Change in sales volumes, six months to Dec 2023 1H FY24 Market Sales NSW 11.0% Volume VIC 10.6% QLD 7.5% In the six months to 31 December 2023, Australian market volumes have increased 10.1% from 1H FY23 levels. SA 18.1% WA 11.3% TAS 7.9% ACT -1.6% +10.1% +5.0% +13.1
Slide 12: State Breakdown of Sales
1H FY24 Investor Presentation 12 State Breakdown State Breakdown of Transactions Volume (6 months to December 2023) of Sales. WA; 65,770; 13% NSW; 140,819; 29% In the six months to 31 December 2023, NSW represented 29% of the national sales SA; 34,246; 7% volume, followed closely by Queensland at 25
Slide 13: Investor Participation
1H FY24 Investor Presentation 13 Investor Portion of new lending for investment housing Investors as a % of housing finance Participation (excluding refinance) commitments by state (Dec’23) ACT 34.6% Investor Participation at 36.2% is marginally TAS 27.9% above the decade average of 34.1%. NSW is th
Slide 14: Cautious lending improving quality of loans
1H FY24 Investor Presentation 14 Cautious lending 10.2% % of loans originated with an LVR >= 90% improving quality 9.6% 9.5% 8.3% 8.0% 7.7% 7.3% 6.6% of loans. 6.1% 2.9% 3.0% 2.8% 2.5% 2.4% 2.3% 2.4% 2.4% 2.3% Mortgage originations for ‘risker’ types of lending trended notably lower through 2022 Sep
Slide 15: Outlook
1H FY24 Investor Presentation 15 Outlook
Slide 16: CY2024 Outlook
1H FY24 Investor Presentation 16 CY2024 Outlook Volume increases expected. Greater price stability. Shift towards larger agent Market consolidation to Mixed consumer sentiment. teams. continue. Across CY24, states are Following the expectation that Super Agent Teams to continue Market Consolidation
Slide 17: Appendix
1H FY24 Investor Presentation 17 Appendix
Slide 18: Profit and loss statement
1H FY24 Investor Presentation 18 Profit and loss statement. UNDERLYING1 STATUTORY ($M) 1H FY24 1H FY23 Change 1H FY24 1H FY23 Change Revenue 43.93 37.49 17.2% 43.93 37.49 17.2% Cost of Sales (29.31) (25.29) 15.9% (29.31) (25.29) 15.9% Gross Profit 14.61 12.21 19.7% 14.61 12.21 19.7% Other Income 0.3
Slide 19: Balance Sheet
1H FY24 Investor Presentation 19 Balance Sheet. UNDERLYING1 ($M) 31 Dec 2023 30 June 2023 Change 4.70 4.63 +1.5% Cash at Bank 14.43 13.24 +9.0% Other Current Assets 29.34 31.85 -7.9% Non Current Assets 48.47 49.72 -2.5% Total Assets (23.20) (21.66) +7.1% Total current liabilities (15.64) (15.52) +0.
Slide 20: Cashflow Statement
1H FY24 Investor Presentation 20 1H FY24 Investor Presentation 20 Cashflow Statement. 1HFY24 1H FY24 (Statutory) 1H FY23 (Statutory) ($M) (Underlying)* (Post AASB16) (Post AASB16) (Pre AASB16)^ EBITDA 0.56 1.68 0.14 Change in net working capital 0.19 0.46 (0.36 ) Net interest Paid (0.35) (0.38) (0.3
Slide 21: Geoff Lucas
1H FY24 Investor Presentation 21 Geoff Lucas Managing Director & CEO geofflucas@theagency.com.au https://www.linkedin.com/in/geoff-lucas/
Slide 22: 1H FY24 Investor Presentation
1H FY24 Investor Presentation 22 1H FY24 Investor Presentation 22 Not an offer This presentation is for information purposes only. This presentation political and social uncertainties and contingencies; does not comprise a prospectus, product disclosure statement or involve known and unknown risks a
Slide 23: THE AGENCY
THE AGENCY
Agency Group Australia — Investor Presentation (February 2024) on 6ix