Growthpoint Properties Australia · ASX:GOZ
Growthpoint Properties Australia — Shareholder Meeting (November 2024)
26 slides from Growthpoint Properties Australia's shareholder meeting presentation, Nov 21, 2024
Slide 1: 2024 Annual General Meeting – Chair and CEO & Managing Director addresses and presentation
21 November 2024 2024 Annual General Meeting – Chair and CEO & Managing Director addresses and presentation Growthpoint Properties Australia (Growthpoint, the Group) is pleased to attach a copy of the Chair’s and CEO & Managing Director’s addresses and presentation to be delivered at the 2024 combin
Slide 2: Chair's Address
Chair’s Address Good morning, everyone. I am Andy Fay, Chair of Growthpoint Properties Australia. On behalf of the Board, it is my pleasure to welcome you to the Annual General Meeting of Growthpoint Properties Australia Limited, and the meeting of the unitholders of Growthpoint Properties Australia
Slide 3: For personal use only
Before I move to the year’s highlights and performance summary, I would like to introduce Ross Lees who has succeeded long-standing Managing Director, Timothy Collyer. Ross brings more than 20 years of real estate investment management experience and a deep understanding of commercial property marke
Slide 4: For personal use only
Growthpoint continues to operate sustainably and achieved sector leadership recognition in the 2023 GRESB Sustainability Benchmark for the third year in a row. We increased GreenPower coverage to 50% for our office portfolio and entered into an additional $500 million of Sustainability Linked Loans,
Slide 5: CEO and Managing Director's Address
CEO and Managing Director’s Address Thank you, Andy, and good morning everyone in the room and online. Given Andy has provided an overview of the FY24 financial results, I will take the opportunity to focus on key observations since joining in May this year before providing an FY25 year-to-date upda
Slide 6: For personal use only
During the first quarter we also launched the Growthpoint Canberra Office Trust for the acquisition of an A-Grade office building in Canberra’s CBD for $90 million. The property will be managed by Growthpoint and represents a deep value, countercyclical investment of a high-yielding, primarily gover
Slide 7: 2024 AGM November 2024
For personal use only 2024 AGM 21 November 2024 space to thrive.
Slide 8: Board of Directors and Executive Management
Growthpoint Properties Australia Board of Directors and Executive Management For personal use only Andrew Fay Ross Lees Tonianne Dwyer Estienne de Klerk Deborah Page AM Dion Andrews Michael Green Independent Chair CEO & Managing Director Independent Director Director Independent Director Chief Finan
Slide 9: Agenda
Direct portfolio: 10-12 Mort Street, Civic, ACT Agenda For personal use only – Chair’s address – CEO & Managing Director’s address – Formal business 3 Growthpoint Properties Australia – 2022 Annual General Meeting
Slide 10: How to participate online – questions
How to participate online Online attendees – written and verbal questions For personal use only • To ask a written question select the ‘Q & A’ icon • Select the topic your question relates to from the drop-down list • Type your question in the chat box at the bottom of the screen and press ‘Send’ •
Slide 11: How to participate online – voting
How to participate online Online attendees – voting For personal use only • When the Chair declares the poll open select the ‘Vote’ icon. The voting options will appear on your screen • To vote, select your voting direction. Item 2: Remuneration report – Company only A tick will appear to confirm re
Slide 12: Chair's Address
Chair’s For personal use only Address Andrew Fay
Slide 13: FY24 highlights and performance summary
Third-Party Funds: Central Park, Chippendale, NSW FY24 highlights and performance summary Highlights Financial Capital For personal use only performance management Industrial Performed well, driven by FFO Gearing population growth, constrained supply and rental increases 23.9 cps 40.7% above guidanc
Slide 14: FY24 direct property portfolio
FY24 direct property portfolio Total property Office Industrial For personal use only portfolio portfolio portfolio Occupancy Occupancy Occupancy 95% 92% 100% 30 June 2023: 93% 30 June 2023: 90% 30 June 2023: 100% WALE WALE WALE 5.7 years 6.1 years 4.9 years 30 June 2023: 6.0 years 30 June 2023: 6.3
Slide 15: FUM – Asset type and location
FUM – Asset type and location FY24 Funds (as at 30 June 2024) Management Office Retail For personal use only Car Park Mixed-use Neighborhood • Completed the sale of Taylors House 1Q25 update Shopping Centre for c.$87 million, achieving a levered IRR • Divestment of of 11% over the 7-year fund term 8
Slide 16: FY24 Sustainability performance
FY24 Sustainability performance For personal use only $1.0b 7.8/10 of existing debt now Annual Landlord converted to sustainability Satisfaction Survey linked loans (SLLs), (2024 peer group exceeding all targets leading average: 6.9/10)3 to interest margin reductions 1 75% c.50% Employee Engagement
Slide 17: Sector Outlook
Sector Outlook For personal use only Although moderating, inflation expectations • Office sector seeing are predicted to remain volatile increasing transaction 8.5% volumes, particularly in the Forecast Sydney CBD 7.5% • Industrial markets remain 6.5% positive, albeit slowing 5.5% slightly, with sti
Slide 18: Board composition
Board composition For personal use only Board gender Independent diversity Directors at 30 September 2024 at 30 September 2024 44% 56% Grant Jackson Tonianne Dwyer Independent Directors Directors determined Retired in Appointed in not independent November 2023 September 2024 12 Growthpoint Propertie
Slide 19: CEO & Managing Director's Address
CEO & For personal use only Managing Director’s Address Ross Lees
Slide 20: 1Q25 performance – property portfolio
1Q25 performance – property portfolio 20 Colquhoun Road For personal use only Perth Airport WA (Woolworths DC) Portfolio WALE NLA: 5.8 years 11 leases 80,374 sqm (30 June 2024: 5.7 years) Term (lease extension): completed, totalling 5.0 years Office portfolio: 6.0 years 96,044 sqm, or Industrial por
Slide 21: 1Q25 performance – Funds Management
1Q25 performance – Funds Management 2 Constitution Avenue, For personal use only Canberra, ACT 6-7 John Morphett Place, 6 Kingston Park Court Erskine Park, NSW Knoxfield, VIC Growthpoint Australia Logistics Growthpoint Canberra Office Trust Partnership (GALP) • Launched new wholesale investment • In
Slide 22: 1Q25 performance – capital management
1Q25 performance – capital management For personal use only • Net proceeds of GALP, the DXI Gearing as at 30 September 20241 Target stake sale and sale of gearing range 3 Millenium Court, Knoxfield, 50% VIC, reduces pro forma 35-45% gearing to 37.6% 45% • Extended a $75 million 40.7% Sustainability
Slide 23: 1Q25 performance – Sustainability
1Q25 performance – Sustainability For personal use only Continuing improvement in GRESB performance 74 80 81 84 2020 2021 2022 2023 2024 17 Growthpoint Properties Australia – 2024 Annual General Meeting
Slide 24: Outlook: FY25 guidance
Direct portfolio: 5 Murray Rose Avenue, Sydney Olympic Park, NSW Outlook: FY25 guidance For personal use only FY25 FFO FY25 guidance distribution 22.3 – 23.1 cps guidance A key assumption to guidance is 18.2 cps in respect of interest rates, with the Group assuming an average Additional 2.1 cps FY25
Slide 25: Important information
Important information. This presentation has been prepared by Growthpoint Properties Australia Limited (ACN 124 093 901) in its personal capacity and as For personal use only responsible entity of Growthpoint Properties Australia Trust (ARSN 120 121 002) about the activities of Growthpoint Propertie
Slide 26: Growthpoint Properties Australia
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