Genesis Land Development Corp. · TSX:GDC
Genesis Land Development — Corporate Update (September 2023)
34 slides from Genesis Land Development's corporate update, Sep 30, 2023
Slide 1: Corporate Update
CORPORATE UPDATE SEPTEMBER 30, 2023 GENESIS LAND DEVELOPMENT CORP.
Slide 2: Advisories
ADVISORIES FORWARD-LOOKING STATEMENTS This presentation may contain certain statements which constitute forward-looking statements or information within the meaning of applicable securities laws concerning the business, operations and financial performance and condition of Genesis. Generally, these
Slide 3: A proven record of acquiring raw land in the Calgary area
A proven record of acquiring raw land in the Calgary area and, utilizing an integrated value added land development and home building approach, transforming it into inspired communities that enrich lives. D R E A M . D E S I G N . B U I L D 3
Slide 4: Overview
OVERVIEW GENESIS D R E A M . D E S I G N . B U I L D 4
Slide 5: Genesis
GENESIS ONE OF WESTERN CANADA’S P R E E M I N E N T I N T E G R AT E D D E V E L O P M E N T C O M PAN I E S • Genesis Land Development Corp. (TSX: GDC) has been developing lands and building homes in the Calgary Metropolitan Area (CMA) since 1991 • Significant portfolio of well-located, entitled an
Slide 6: A Strong Foundation
A STRONG FOUNDATION • Proven record of adding value and developing raw land into thriving communities • Focus on Calgary region • Public company with strong supportive shareholders • 22 years of consecutive profits • Conservative balance sheet and ready access to financing • Building partnerships D
Slide 7: Genesis At-a-Glance
GENESIS AT-A-GLANCE $326M 30+ 16+ 10,000 in real YEARS YEARS FAMILIES + estate assets of land development of home building Over 1,300 acres • $123M acquired since 2019 experience (1991) experience (2005) developed in nine residential communities 1,989 $32M 22 $76M ACRES net debt YEARS OF returned to
Slide 8: Land Summary
LAND SUMMARY LAND PARCELS SERVICED FUTURE PARCELS UNDEVELOPED SF LOTS SF LOTS (ACRES) ACREAGE AIRDRIE Bayside, Bayview 144 743 11 111 CALGARY NW Sage Meadows - - 5 - Sage Hill Crest 68 - 14 - CALGARY N Lewiston - 952 7 134 CALGARY NE Huxley (Belvedere) - 1,368 - 161 CALGARY SE Logan Landing 1,606 10
Slide 9: Home Building Division Active in Ten Communities
HOME BUILDING DIVISION ACTIVE IN TEN COMMUNITIES Genesis Communities Airdrie Bayside Canals – Newport Bayview Calgary Sage Hill Crest Third-Party Communities Calgary Homestead Alpine Park Vermilion Hill Silverton Chestermere Clearwater Park Cochrane Fireside D R E A M . D E S I G N . B U I L D 9
Slide 10: Strategy / Team
STRATEGY/ TEAM D R E A M . D E S I G N . B U I L D 10
Slide 11: Strategy & Business Plan
AT- A - G L A N C E O V E R V I E W STRATEGY & BUSINESS PLAN S I M P L E B U S I N E S S M O D E L - H I G H LY F O C U S E D AP P R O A C H Genesis’ strategy is carefully and thoughtfully designed to maximize shareholder value while leveraging opportunities for future growth. D R E A M . D E S I G
Slide 12: Focused on the Calgary Metropolitan Area (CMA)
FOCUSED ON THE CALGARY METROPOLITAN AREA (CMA) G E N E S I S AD VAN TAG E : • Market knowledge and awareness • First in-the-know about acquisition opportunities • Experienced in navigating the complex approval process • Build quality production homes • Attract and work with quality home building par
Slide 13: Executive Team / Board of Directors
EXECUTIVE TEAM BOARD OF DIRECTORS Stephen J. Griggs Chair Steven Glover Lead Director IAIN STEWART PS SIDHU BRIAN WHITWELL ROB SEKHON Mark W. Mitchell President and CEO Sr. Vice President, Sr. Vice President, Chief Financial Officer Director Home Building Asset Management Iain Stewart Director & CEO
Slide 14: Growth
GROWTH D R E A M . D E S I G N . B U I L D 14
Slide 15: Growth Model: Land
GROWTH MODEL L AN D • Reinvest cash surfaced from operations • Strict adherence to predetermined acquisition parameters • Acquire well positioned land - Preferably with Area Structure Plan in place • Finalize approvals • Bring in builder partners • Develop, sell – realize cash - Partner of choice fo
Slide 16: Growth Model: Housing
GROWTH MODEL HOUSING • Participate in all Genesis communities • Participate in third party communities • Continue to increase volumes • Focus – production builder in CMA • Partner of choice for trades/suppliers D R E A M . D E S I G N . B U I L D 16 16
Slide 17: Growth: September 30, 2023
GROWTH SEPTEMBER 30, 2023 Land • Over 960 acres acquired in last four years ($123M) • Actively developing 7 communities • Burn rate = 50-60 acres per annum Housing • Active in 10 communities • Year-to-date (YTD) New Home Orders - 278 • 2022 New Home Orders – 233 • YTD Home Sales Closings - 200 • 202
Slide 18: Recent Acquisitions
RECENT ACQUISITIONS 2 0 1 4 – L O G AN L AN D I N G • Acquired 354 acre parcel in SE Calgary 2 0 1 9 – L E W I S TO N AN D PAR T N E R S H I P I N T E R E S TS • Acquired 134 acre parcel in North Calgary • Homestead - 5% interest and lot purchase rights • Vermilion Hill – 8% interest and lot purchas
Slide 19: Financial
FINANCIAL D R E A M . D E S I G N . B U I L D 19
Slide 20: Highlights
NINE MONTHS NINE MONTHS ($000’S) ENDED SEPT. 30, ENDED SEPT. 30, 2023 2022 TOTAL REVENUES 131,710 86,200 EARNINGS 6,456 1,458 (UNITS) RESIDENTIAL LOT SALES 210 130 HIGHLIGHTS HOME SALES 200 112 SEPTEMBER 30, 2023 NEW HOME ORDERS 278 202 • Total Assets - $407M OUTSTANDING NEW HOME ORDERS 283 231 • Re
Slide 21: Positioned to Thrive
POSITIONED TO THRIVE B U I L D I NG O N O U R S U C C E S S E S W I T H : • Proven track record • Well-located core land holdings • Highly experienced management team • An integrated, focused strategy • Strong financial position • Able to adapt to market conditions • Acquisitions/growth D R E A M .
Slide 22: Appendix: Core Land Holdings
APPENDIX C O R E L AN D H O L D I N G S D R E A M . D E S I G N . B U I L D 22
Slide 23: Core Land Holdings
TARGETED UNDEVELOPED DEVELOPMENT COMMUNITY ACRES TIMEFRAME AIRDRIE BAYSIDE 45 1997 - 2029 BAYVIEW 66 1997 - 2029 111 CALGARY SADDLESTONE - 2010 - 2023 SAGE HILL CREST/ SAGE MEADOWS - 2010 - 2025 CORE LAND LEWISTON HUXLEY (BELVEDERE) 134 161 2020 - 2030 2023 - 2033 HOLDINGS LOGAN LANDING 354 2023 - 2
Slide 24: Map of Core Land Holdings
MAP OF CORE LAND HOLDINGS SEPTEMBER 30, 2023 D R E A M . D E S I G N . B U I L D 24
Slide 25: Bayside & Bayview, Airdrie
CORE LAND HOLDINGS BAYSIDE & BAYVIEW AIRDRIE D E V E L O P M E N T T I M E LI N E • Servicing started in 1997 • 609 acres serviced (including Canals) • Target completion in 2029 • Currently developing: o Bayview Phases 6 o Bayside Phases 14 C U R R E N T I N V E N TO RY • 119 single family lots • 25
Slide 26: Huxley (Belvedere), NE Calgary
CORE LAND HOLDINGS HUXLEY (BELVEDERE) NE CALGARY D E V E L O P M E N T T I M E LI N E • Acquired in 2021 • Servicing commenced in 2023 • Target completion in 2033 C U R R E N T I N V E N TO RY • 161 acres of undeveloped land • Will deliver 1,368 homes when fully developed G E N E S I S L A N D . C O
Slide 27: Lewiston, N Calgary
CORE LAND HOLDINGS LEWISTON N CALGARY D E V E L O P M E N T T I M E LI N E • Acquired in 2019 • Servicing commenced in 2020 • Target completion in 2030 C U R R E N T I N V E N TO RY • 134 acres of undeveloped land • Will deliver 952 homes and 7 acres of multi- family and commercial parcels when full
Slide 28: Sage Hill Crest, NW Calgary
CORE LAND HOLDINGS SAGE HILL CREST NW CALGARY D E V E L O PM E N T T I M E LI N E • Servicing started in 2021 • Target completion in 2025 C U R R E N T I N V E N TO RY • 68 single family lots • 11 acres of serviced commercial sites • 3 acre serviced multi-family site G E N E S I S L A N D . C O M 28
Slide 29: Logan Landing, SE Calgary
CORE LAND HOLDINGS LOGAN LANDING SE CALGARY D E V E L O P M E N T T I M E LI N E • Acquired in 2014 • Servicing commenced in 2023 • Target completion in 2034 C U R R E N T I N V E N TO RY • 354 acres of undeveloped land • Will deliver 1,606 homes and 10 acres of multi-family and commercial parcels w
Slide 30: Hotchkiss, SE Calgary
CORE LAND HOLDINGS HOTCHKISS SE CALGARY D E V E L O P M E N T T I M E LI N E • Acquisition to be closed in 2025 • Target start year for servicing of 2027 • Target completion in 2037 C U R R E N T I N V E N TO RY • 159 acres of undeveloped land • Will deliver 849 homes and 8 acres of multi- family an
Slide 31: White, SE Calgary
CORE LAND HOLDINGS WHITE SE CALGARY D E V E L O P M E N T T I M E LI N E • Acquisition closed in Q4 2023 • Target start year for servicing of 2035 • Target completion in 2055 C U R R E N T I N V E N TO RY • 460 acres of undeveloped land • Will deliver 2,500-3,000 homes numerous multi-family and comm
Slide 32: OMNI, Rocky View County
CORE LAND HOLDINGS OMNI ROCKY VIEW COUNTY D E V E L O P M E N T T I M E LI N E • Target start year for servicing: 2025 • Target completion: N/A C U R R E N T I N V E N TO RY • 185 acres future commercial site • Effective February 2023, Genesis owns a 73% undivided interest in the land G E N E S I S
Slide 33: The 425, Rocky View County
CORE LAND HOLDINGS THE 425 ROCKY VIEW COUNTY C U R R E N T I N V E N TO RY • 425 acres of future development land (currently seeking land use approvals) • Genesis owns 100% of the property having recently purchased 49% from joint venture partners G E N E S I S L A N D . C O M 33 G E N E S I S L A N
Slide 34: Contact Information
CONTACT INFORMATION GENESIS LAND D E V E L O P M E N T C O R P. IAIN STEWART, CPA, CA President and Chief Executive Officer Rob Sekhon, CPA, CA Chief Financial Officer 403-265-8079 // 1-800-341-7211 genesis@genesisland.com // www.genesisland.com 6240, 333 – 96 Avenue NE Calgary, AB T2E 8A2 34
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