Hmc Capital Limited · ASX:HMC
Hmc Capital — Home Consortium — H1 FY2020 Earnings Presentation
31 slides from Hmc Capital's earnings presentation, Feb 26, 2020
Slide 1: ASX Release: FY20 Half Year Results Investor Presentation
ASX RELEASE For personal use only 26 February 2020 FY20 Half Year Results Investor Presentation Home Consortium provides the attached FY20 Half Year Results Investor Presentation. -ENDS- For further information, please contact: INVESTORS MEDIA Will McMicking John Frey Finance Director GRACosway +61
Slide 2: FY20 Half Year Results
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx For personal use only FY20 Half Year Results Investor Presentation 26 February 2020 0
Slide 3: Agenda
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Agenda For personal use only 11 Highlights David Di Pilla Executive Chairman and Chief Executive Officer 21 Operational performance Chris Saxon Deputy Chairman & Lead Independent Non-
Slide 4: Key highlights – delivering on our Prospectus
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Key highlights – delivering on our Prospectus Significant amount delivered in 120 days since IPO For personal use only Occupancy Foot Traffic Tenant Mix Operational ▪ 26,000 sqm of GL
Slide 5: Financial & Operational outlook is strong
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Financial & Operational outlook is strong HomeCo is on track to outperform prospectus forecasts For personal use only Prospectus disclosure Current results Guidance 1 Financial ▪ FY20
Slide 6: Occupancy continues to improve
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Occupancy continues to improve HomeCo is targeting 99% occupancy across trading centres by December 2020 For personal use only Centre occupancy Approximately 12,000 sqm of new signed
Slide 7: HomeCo – Prospectus
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx HomeCo – Prospectus HomeCo is on track to execute on its strategy For personal use only 1 • Focused on ownership, development and management 2 • Above average risk-adjusted returns fo
Slide 8: Operational Performance
For personal use only Photo: HomeCo Keysborough Operational Performance
Slide 9: Foot traffic
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Foot traffic Significant increase in foot traffic over the last 24 months with total foot traffic of approximately 2 million in December 2019 For personal use only Foot traffic—Last 2
Slide 10: Occupancy
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Occupancy Occupancy has increased from 93.5% at IPO to 97.0% with trading occupancy expected to reach 90.9% by June 2020 For personal use only Portfolio occupancy1 2.0% 3.9% 2.3% 1.3%
Slide 11: High quality and diversified tenant mix
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx High quality and diversified tenant mix Diversified tenant mix with a continued focus towards targeting defensive services tenants. Increase in services income from 19% at IPO to 21%
Slide 12: Long term income stability
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Long term income stability Strong WALE maintained at 8.5 years and 72% of tenants with fixed rent reviews For personal use only Lease expiry profile (by gross rent)1 83% ▪ WALE of 8.5
Slide 13: Development pipeline
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Development pipeline For personal use only Centre developments commenced Recent Q4 2019 developments Centre Type Opening Capital works Yield1 Cairns, QLD Daily Needs Richlands, QLD Da
Slide 14: Financial performance
For personal use only Photo: HomeCo Hawthorn East Financial performance
Slide 15: Earnings summary
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Earnings summary Freehold FFO is tracking ahead of prospectus forecast For personal use only Income statement – 6 months to 31 December 19 Freehold FFO by month $ million Freehold 1 $
Slide 16: Consolidated balance sheet
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Consolidated balance sheet For personal use only $ million 31-Dec-19 31-Dec-19 Comments to adjusted NTA Consolidated Adjusted NTA1 1. Cash balance excludes LMA balance of $37 million
Slide 17: Capital management
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Capital management Strong capital position with 34% gearing and $170m of liquidity as at 31 December 2019 For personal use only $ million 31-Dec-19 ▪ New senior secured syndicated deb
Slide 18: Leasehold mitigation
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Leasehold mitigation Net leasehold liability has decreased from $94.8m at IPO to $64.5m as at 31 December 2019 with subsequent negotiations to reduce the pro-forma net leasehold liabi
Slide 19: Strategy and growth
For personal use only Photo: HomeCo Braybrook Strategy and growth
Slide 20: Growth strategy
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Growth strategy Setting up the platform for sustainable long term growth For personal use only 1 ▪ 10 pad sites under development Developments ▪ Planning underway to utilise HomeCo’s
Slide 21: Childcare investment
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Childcare investment HomeCo seeking to increase its services exposure to 23% through the rollout of additional childcare centres For personal use only Summary1 Impact of childcare rol
Slide 22: Healthcare & Wellness REIT
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Healthcare & Wellness REIT HomeCo has established a material services exposure comprising health, childcare & education, government services and wellness tenants For personal use only
Slide 23: HomeCo is executing on its stated strategy to own, develop & manage
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx HomeCo is executing on its stated strategy to own, develop & manage For personal use only Own Develop Manage ▪ Well positioned to ▪ 1.1 million sqm land establish funds ▪ 32% site cov
Slide 24: Outlook
For personal use only Outlook
Slide 25: Outlook
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Outlook For personal use only Prospectus disclosure Guidance and outlook 1 Financial ▪ 10% ahead of prospectus forecast for FY20 pro-forma Freehold Performance ▪ FY20 Pro-forma Freeho
Slide 26: Appendix
For personal use only Appendix
Slide 27: High quality and diversified tenant mix
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx High quality and diversified tenant mix Overview of the top 20 tenants by gross rental income1 For personal use only % of % of Rank Tenant Brands income Rank Tenant Brands income 1 Am
Slide 28: Well located and geographically diverse portfolio
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Well located and geographically diverse portfolio 67%1 of centres strategically located in metropolitan growth corridors For personal use only Portfolio metrics Centre classification
Slide 29: HomeCo portfolio
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx HomeCo portfolio Portfolio summary metrics For personal use only Trading Operating Centres State Classification1 Total GLA2 occupancy3 (%) Occupancy4 (%) WALE5 (years) Fair value6 ($m
Slide 30: Consolidated earnings summary
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Consolidated earnings summary Freehold FFO is tracking ahead of prospectus forecast For personal use only Income statement – 6 months to 31-Dec-19 $ million Freehold 1 Leasehold Conso
Slide 31: Disclaimer and Contacts
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Disclaimer and Contacts For personal use only Disclaimer The information provided in this presentation has been prepared by Home Consortium comprising Home Consortium Limited (ACN 138