Goodman Group · ASX:GMG
Goodman — Goodman Property Trust — Shareholder Meeting (July 2020)
33 slides from Goodman's shareholder meeting presentation, Jul 22, 2020
Slide 1: Annual Meeting 2020
Goodman Property Trust Annual Meeting 2020 1
Slide 2: Meeting agenda
Goodman Property Trust Annual Meeting 2020 Keith Smith Chairman and Meeting agenda Independent Director + Review the operating performance of the Trust and the strategy for a more challenging economic environment + Consider and vote on one ordinary resolution - re-appointment of Susan Paterson as an
Slide 3: Questions and answers
Goodman Property Trust Annual Meeting 2020 Keith Smith Chairman and Questions and answers Independent Director 332-013-351 You can send a question at any time, these will be addressed at the end of the presentations. To ask a question 1 Click on the speech bubble icon on the top centre of the page 2
Slide 4: Voting
Goodman Property Trust Annual Meeting 2020 Keith Smith Chairman and Voting Independent Director Online voting is available at anytime. 332-013-351 To cast a vote 1 Click on the bar graph icon on the far right of the page 2 Click on either “For, Against or Abstain” and it will change colour to orange
Slide 5: Board and executives
Goodman Property Trust Annual Meeting 2020 Board and executives Keith Smith Greg Goodman Leonie Freeman John Dakin Chairman & Independent Director Non-executive Director Independent Director Executive Director and CEO Susan Paterson Phil Pryke Peter Simmonds Andy Eakin Independent Director Non-execu
Slide 6: Advisors
Goodman Property Trust Annual Meeting 2020 Keith Smith Chairman and Advisors Independent Director + Trustee Covenant Trustee Services Limited + Auditor PricewaterhouseCoopers 6
Slide 7: Meeting formalities
Goodman Property Trust Annual Meeting 2020 Keith Smith Chairman and Meeting formalities Independent Director + Nominated Chairman + Notice of meeting properly given + Quorum confirmed 7
Slide 8: Year in review
Goodman Property Trust Annual Meeting 2020 Year in review $284.4m Profit before tax $175m New equity 100% Auckland industrial weighting Gateway warehouses, Highbrook Business Park 8
Slide 9: COVID-19 impacts
Goodman Property Trust Annual Meeting 2020 Keith Smith Chairman and COVID-19 impacts Independent Director + Health and safety of staff, customers and contractors continued to be first priority + Goodman classified as an essential business + Income receipts representing around 95% of rent due over la
Slide 10: Distribution policy
Goodman Property Trust Annual Meeting 2020 Keith Smith Chairman and Distribution policy Independent Director + Amended to ensure the business can continue to grow sustainably + Adopting a pay-out ratio of between 80% and 90% of cash earnings1 aligns distributions with the underlying cashflows from G
Slide 11: Financial overview
Goodman Property Trust Annual Meeting 2020 Financial overview Gateway warehouses, Highbrook Business Park 11
Slide 12: FY20 highlights
Goodman Property Trust Annual Meeting 2020 Andy Eakin Chief Financial Officer FY20 highlights $261.9m $165.8m 6.65cpu Profit after tax Portfolio revaluation FY20 cash distribution $145.3m 172.7cpu 28.1% Net rental income Net tangible asset backing Total Unitholder Return1 12 months to 31 March 2020
Slide 13: Gearing and liquidity
Goodman Property Trust Annual Meeting 2020 Andy Eakin Chief Financial Officer Gearing and liquidity + $1.2 billion of asset sales since 2014 with more than $800 Andy Eakin Chief Financial Officer million reinvested into new development projects + Greater financial flexibility with $175 million of ne
Slide 14: Treasury initiatives
Goodman Property Trust Annual Meeting 2020 Andy Eakin Chief Financial Officer Treasury initiatives + 96% of drawn debt from Bank debt 4% non-bank sources USPP notes 32% + Undrawn bank facilities of almost $400 million + GMT credit rating of BBB reaffirmed with debt rated Bonds 64% BBB+ Funding sourc
Slide 15: Operational review
Goodman Property Trust Annual Meeting 2020 Operational review Westney Industry Park 15
Slide 16: Investment strategy
Goodman Property Trust Annual Meeting 2020 John Dakin Chief Executive Officer Investment strategy Executive Director + Industrial property plays a critical role in supply chains + Continued urbanisation and growth of e-commerce contributing to increased demand for warehouse and logistics space + GMT
Slide 17: Property portfolio
Goodman Property Trust Annual Meeting 2020 Property portfolio $3.1bn Value 99% Occupancy 17
Slide 18: Customer focus
Goodman Property Trust Annual Meeting 2020 John Dakin Chief Executive Officer Customer focus Executive Director + Portfolio focused on storage, logistics and distribution + Large proportion of customers’ businesses were classified as essential throughout lockdown Mainfreight image + Support was dire
Slide 19: Development programme
Goodman Property Trust Annual Meeting 2020 Development programme Active Healthcare, Highbrook Business Park 19
Slide 20: Completed developments
Goodman Property Trust Annual Meeting 2020 John Dakin Chief Executive Officer Completed developments Executive Director El Kobar units Estate Highbrook Business Park Completion March 2020 NLA 5,330 sqm Hellmann Estate Highbrook Business Park Completion December 2019 NLA 3,548 sqm 20
Slide 21: Completed developments
Goodman Property Trust Annual Meeting 2020 John Dakin Chief Executive Officer Completed developments Executive Director Paramount Estate Highbrook Business Park Completion December 2019 NLA 2,999 sqm NZ Food Network Estate Highbrook Business Park Completion October 2019 NLA 1,024 sqm 21
Slide 22: NCI Packaging Savill Link
Goodman Property Trust Annual Result Meeting2020 2020 NCI Packaging Savill Link 22
Slide 23: Development progress
Goodman Property Trust Annual Meeting 2020 John Dakin Chief Executive Officer Development progress Executive Director + Over 80% of the portfolio has been built since 2004 + Eleven new facilities completed in FY20 - Provides almost 35,000 sqm of high-quality space - Value on completion was $158.6 mi
Slide 24: Mt Wellington acquisitions
Goodman Property Trust Annual Meeting 2020 Mt Wellington acquisitions Mt Wellington Estate
Slide 25: 7,350 sqm
Goodman Property Trust Annual Meeting 2020 OfficeMax 7,350sqm Warehouse extension Highbrook 880 Panel, solar array 20% Electrical demand Warehouse extension
Slide 26: Sustainability - Carbon
Goodman Property Trust Annual Meeting 2020 John Dakin Chief Executive Officer Sustainability - Carbon Executive Director + Green House Gas emissions - FY19 CDP rating of B- - Emissions inventory completed for FY20 - Independent audit assurance + Future targets - Carbon neutral business operations by
Slide 27: Goodman Foundation
Goodman Property Trust Annual Result 2020 Goodman Foundation 1,250 Tonnes of food rescued 3.6 Million meals (equivalent)
Slide 28: Business outlook
Goodman Property Trust Annual Meeting 2020 John Dakin Chief Executive Officer Business outlook Executive Director + COVID-19 is constraining economic growth globally + GMT’s investment strategy is focused on urban logistics property in Auckland + The Trust is uniquely placed to benefit from the grow
Slide 29: Greg Goodman
Goodman Property Trust Annual Meeting 2020 Greg Goodman Chief Executive Officer Goodman Group Executive Director 394 Properties under management $49.2bn Total assets under management As at 31 December 2019. 29
Slide 30: Questions
Goodman Property Trust Annual Meeting 2020 Questions Highbrook Business Park 30
Slide 31: Formal business
Goodman Property Trust Annual Meeting 2020 Formal business Resolution 1: Re-appointment of Susan Paterson As an ordinary resolution, that Unitholders approve the re-appointment of Susan Paterson as an Independent Director of the Manager. Susan Paterson Independent Director 31
Slide 32: Voting and close
Goodman Property Trust Annual Meeting 2020 Voting and close + We will now close the poll and conclude the meeting + The result will be announced on the NZX 32
Slide 33: Thank you
Thank you Disclaimer: The information and opinions in this presentation were prepared by Goodman (NZ) Limited on behalf of Goodman Property Trust and its subsidiaries (Goodman). Goodman makes no representation or warranty as to the accuracy or completeness of the information in this presentation. Op
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