Eureka Group Holdings Limited · ASX:EGH
Eureka — Shareholder Meeting (October 2024)
20 slides from Eureka's shareholder meeting presentation, Oct 31, 2024
Slide 1: 2024 Annual General Meeting
2024 Annual General Meeting 31 October 2024
Slide 2: Meeting Overview
Meeting Overview • Chairman’s Address • CEO Presentation • Formal Business
Slide 3: Chairman's Address
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Slide 4: Key achievements in FY24
Key achievements in FY24 Continued strong underlying financial performance Strong results ✓ Portfolio value uplift ✓ Acquisitions and developments ✓ Capital management ✓ ESG highlights ✓ Strengthened Board and management team ✓ 1. Refer to page 18 for Definitions 4
Slide 5: FY24 Highlights
FY24 Highlights Revenue and earnings growth driven by strong resident demand, rental growth and property valuations $9.1m $14.1m $41.1m $15.2m Underlying profit Revenue Underlying EBITDA1 Valuation uplift before tax1 13% FY23 20% FY23 $25.3m FY23 13% FY23 > 90% of the portfolio has been Like-for-lik
Slide 6: Board refresh and CEO appointment
Board refresh and CEO appointment Eureka’s board and management are well positioned to deliver on future growth objectives • Relative trading Chief Executive Officer Appointment Board Refresh • Simon is a highly experienced and respected leader with • John is a highly credentialed and experienced ex
Slide 7: CEO Presentation
CEO Presentation 7
Slide 8: Scalable affordable build-to-rent seniors living portfolio
Scalable affordable build-to-rent seniors living portfolio Eureka is the only ASX-listed pure play specialist in seniors’ rental accommodation NATIONAL FOOTPRINT (as at 30 June 2024) PORTFOLIO SNAPSHOT (as at 30 June 2024) 52 2,835 $328m Villages Units under management Assets under management QLD $1
Slide 9: Building Blocks of EPS Growth over next three years
Building Blocks of EPS Growth over next three years EPS Growth driven by organic growth and external opportunities Operational 1 Excellence Focus on occupancy, organic growth and resident experience. 2 Great People Recruit, develop and retain great people. Organic Growth Individual Unit 70 unit pipe
Slide 10: Over 50s rental offers significant growth opportunities
Over 50s rental offers significant growth opportunities Housing market dynamics supports the need for affordable seniors’ rental accommodation HIGH LEVELS OF DEMAND CONSTRAINED SUPPLY MODULAR HOUSING SOLUTIONS • Consistently high occupancy rates of >96% • Deteriorating affordable housing project • R
Slide 11: Over 50s rental offers significant growth opportunities
Over 50s rental offers significant growth opportunities Shares many attributes with residential land lease communities 10 years ago TARGET KEY REGIONAL MARKETS GOVERNMENT-SUPPORTED REVENUE GOVERNMENT FUNDING SUPPORTS • Many seniors/downsizers moving to • Stable source of revenue as pension • State a
Slide 12: Strategic Growth Initiatives
Strategic Growth Initiatives 12
Slide 13: In October Eureka announced a $70m capital raise
In October Eureka announced a $70m capital raise Provides Eureka with the capital to quickly scale and execute on acquisition opportunities Consolidates market position and enhances 1 scale Step-change in growth profile 2 Compelling Acquisitions 3 Supportive market tailwinds and resilient 4 business
Slide 14: Acquisition No. 1 – Seniors' Rental Village, Mount Barker SA
Acquisition No. 1 – Seniors’ Rental Village, Mount Barker SA DESCRIPTION ACQUISITION OVERVIEW • Boutique over 50s rental village located 30km southeast of Adelaide CBD, in Mount Barker, near the Adelaide Hills district • Comprises 54 single bed units catering for both singles and couples spread acro
Slide 15: Outlook
Outlook 15
Slide 16: Trading Update
Trading Update Occupancy levels remain at 98% with macro tailwinds underpinning future demand • Occupancy presently tracking at 98% - near record high levels Eureka’s rental villages continuing to • Pension increase of 4.1% for six months to September 2024. Expect FY25 same unit rental growth of 5 –
Slide 17: Guidance and Outlook
Guidance and Outlook • Eureka has entered into contracts, heads of agreement, is in due diligence or advanced discussions to acquire 441 units across 7 villages and has acquired or is in advanced discussions to acquire 38 single units across 4 managed villages with a total expected Equity Raising in
Slide 18: Definitions
Definitions EBITDA Underlying EBITDA (Earnings before interest, tax, depreciation and amortisation) An unaudited non-IFRS measure that represents the operating performance An unaudited non-IFRS measure. The Directors believe it is a readily of the Group and excludes valuation adjustments, asset disp
Slide 19: Disclaimer
Disclaimer No responsibility for contents of presentation No offer to sell or invitation to buy To the maximum extent permitted by law, Eureka Group Holdings Limited This Presentation does not, and should not be considered to, constitute or form (ABN 15 097 241 159), its officers, advisers and repre
Slide 20: Contact details
Contact details Eureka Group Holdings Limited ABN 15 097 241 159 REGISTERED OFFICE Level 5, 120 Edward Street Brisbane QLD 4000 POSTAL ADDRESS GPO Box 2245 Brisbane QLD 4000 07 2145 6322 info@eurekagroupholdings.com.au eurekagroupholdings.com.au ENQUIRIES Simon Owen, Chief Executive Officer Laura Fa
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