Goodman Group · ASX:GMG
Goodman — Shareholder Meeting (November 2022)
27 slides from Goodman's shareholder meeting presentation, Nov 17, 2022
Slide 1: ASX cover letter: Annual General Meetings Chairman's and CEO's Presentations
17 November 2022 Market Announcements Office ASX Limited Via ASX Online Dear Sir / Madam Goodman Group (Goodman) - Annual General Meetings - Chairman's and CEO's Presentations Please find attached the Chairman’s and Group CEO’s written addresses and presentations for Goodman's Annual General Meeting
Slide 2: Chairman Address
CHAIRMAN ADDRESS GOODMAN GROUP AGM 2022 17 NOVEMBER 2022, 10AM Good morning and welcome to the 2022 Annual General Meetings of Goodman Group. I’m Stephen Johns, Independent Director and Chairman. I extend a warm welcome to those of you who are in the room with us here in Sydney, as well as to the pe
Slide 3: Chairman address continued: prudence, sustainability committee, remuneration
We continue to be cautious and prudent, retaining significant resources and liquidity to manage through uncertain economic environments and take advantage of future investment opportunities. Our geographic diversity also enables us to manage market fluctuations within our regions more effectively, w
Slide 4: Chairman address continued: remuneration and EPS hurdles
I understand the main concern expressed by the principal advisory firm was based largely on their view that the EPS hurdles are not sufficiently challenging. We strongly disagree with this assessment. The Board has adopted ambitious EPS growth targets with a threshold compound annual growth rate of
Slide 5: Chairman address: director re-election and outlook
We also have Independent Director Chris Green together with Executive Director Anthony Rozic standing for re-election today, both of whom make a significant contribution to Board deliberations. During the formal business section of today’s meeting, I will ask each director standing for election and
Slide 6: CEO Address
CEO ADDRESS GOODMAN GROUP AGM 2022 17 NOVEMBER 2022, 10AM Good morning and welcome. Goodman has had an extraordinary year. We’ve executed our long-term plan, and we delivered $1.5 billion of operating profit, which equates to 25% growth for the year. All the business areas contributed strongly, with
Slide 7: CEO address: development workbook, AUM and ESG
We’ve increased the size and scale of our development workbook which is now at $13.8 billion. While construction costs rose throughout the year, we managed them well, and we’re at a point where they seem to have moderated somewhat. Our margins remain strong, and we’ve had positive leasing results. O
Slide 8: Goodman Group Annual General Meetings 2022
Goodman Group Annual General Meetings 2022
Slide 9: Agenda
AGENDA 01 Welcome and introductions 02 Chairman’s address 03 Group strategy video 04 Group CEO’s address 05 Formal business 2 GOODMAN GROUP 2022 ANNUAL GENERAL MEETINGS
Slide 10: Directors and Executives
DIRECTORS AND EXECUTIVES Left to right: Danny Peeters Executive Director Vanessa Liu Independent Director Chris Green Independent Director Greg Goodman Group Chief Executive Officer Stephen Johns Independent Chairman Rebecca McGrath Independent Director Phillip Pryke Independent Director Hilary Span
Slide 11: Chairman's Address
02 CHAIRMAN’S ADDRESS Stephen Johns 4 GOODMAN GROUP 2022 ANNUAL GENERAL MEETINGS
Slide 12: 2022 Overview
02 2022 OVERVIEW + Delivered a very strong result + A resilient strategy with sustainable growth + Operating earnings per security increased by 24%, well ahead of initial market guidance of 10%. Goodman Business Park, Greater Tokyo, Japan 5 GOODMAN GROUP 2022 ANNUAL GENERAL MEETINGS
Slide 13: A Sustainable Business
02 A SUSTAINABLE BUSINESS + Strong leadership + High quality global real estate + Financial strength + Conviction to our capital management strategy – significant resources and liquidity + Cautious, prudent and opportunistic + Geographic diversity. 6 GOODMAN GROUP 2022 ANNUAL GENERAL MEETINGS
Slide 14: Sustainability and Innovation
02 SUSTAINABILITY AND INNOVATION + Established Sustainability and Innovation Committee + Support delivery of long-term strategy + Principal focus – identify and assess the risks and opportunities created by technological change that will impact our business + Sustainability and innovation are strate
Slide 15: Remuneration
02 REMUNERATION + Refinement of the Group’s 10 year Long Term Incentive Plan for senior management following investor feedback + Strong support for 4 year testing and 10 year vesting + Changes made in FY23: – Face value the primary determinant of the quantum – FY23 award, CEO remuneration reduced by
Slide 16: Board Progression
02 BOARD PROGRESSION + Directors standing for election – Ms Hilary Spann – Ms Vanessa Liu + Directors standing for re election – Mr Phillip Pryke – Mr Chris Green – Mr Anthony Rozic + Rebecca McGrath to retire + Seek to maintain a diverse board with the right mix of skills, gender and geographic rep
Slide 17: Group Strategy Video
Goodman Business Park, Greater Tokyo, Japan 03 GROUP STRATEGY VIDEO 10 GOODMAN GROUP 2022 ANNUAL GENERAL MEETINGS
Slide 18: CEO's Address
04 CEO’S ADDRESS Greg Goodman 11 GOODMAN GROUP 2022 ANNUAL GENERAL MEETINGS
Slide 19: An Extraordinary Year
04 AN EXTRAORDINARY YEAR + $1.5 billion operating profit, up 25% on FY21 + 81.3 cents EPS, up 24% on FY21 + $3.4 billion statutory profit, up 48% on FY21. Goodman Logistics Center El Monte, Greater Los Angeles, USA 12 GOODMAN GROUP 2022 ANNUAL GENERAL MEETINGS
Slide 20: Strong Balance Sheet
04 STRONG BALANCE SHEET + Gearing low at 8.5% + Group liquidity c. $2 billion + Liquidity across Partnerships c. $18 billion*. As at 30 June 2022. * Partnership investment subject to Investment Committee approval. Artist's impression of Goodman Westlink, Hong Kong SAR, China 13 GOODMAN GROUP 2022 AN
Slide 21: Optimising Property Performance
04 OPTIMISING PROPERTY PERFORMANCE + Productivity + Efficiency + Sustainability + Critical infrastructure + Strategic locations + Long-term site selection. 14 GOODMAN GROUP 2022 ANNUAL GENERAL MEETINGS
Slide 22: Positioned for Growth
04 POSITIONED FOR GROWTH + 99% occupancy* + 4.0% rental growth + 5.4 years WALE. As at 30 September 2022. * Partnership industrial and warehouse assets (excludes office properties which have been earmarked for redevelopment) and represents 97% of Partnership assets. Australia Post – Redbank Motorway
Slide 23: Development Demand
04 DEVELOPMENT DEMAND + $13.8 billion WIP + 85 projects + 50% multi-storey + 55% brownfields. As at 30 September 2022. Goodman Huiyang Industrial Park, Huiyang, China 18 GOODMAN GROUP 2022 ANNUAL GENERAL MEETINGS
Slide 24: Partnering for the Long Term
04 PARTNERING FOR THE LONG TERM + $77.8 billion AUM* + Partnership return c.21% + Strategic co-investment. * As at 30 September 2022 AUM $bn 77.8 73.0 57.9 51.6 46.2 38.3 FY18 FY19 FY20 FY21 FY22 Q1FY23 TOTALAUM 17 GOODMAN GROUP 2022 ANNUAL GENERAL MEETINGS
Slide 25: Taking Action on ESG
04 TAKING ACTION ON ESG + Partnering with customers to achieve sustainability goals + Low carbon building products + Reducing emissions + Renewable energy + Regeneration of infill sites + $11.6 million facilitated by Goodman Foundation in FY22. 18 GOODMAN GROUP 2022 ANNUAL GENERAL MEETINGS
Slide 26: FY23 Outlook
04 FY23 OUTLOOK + Significant development workbook + Productivity driving customer demand + Strong capital position + Ability to capitalise on opportunities + 11% EPS growth + $1.7 billion operating profit. Bungarribee Industrial Estate, Sydney, Australia 19 GOODMAN GROUP 2022 ANNUAL GENERAL MEETING
Slide 27: Thank You
THANK YOU For more information visit goodman.com Important Notice This document has been prepared by Goodman Group (Goodman Limited (ABN 69 000 123 071) and Goodman Funds Management Limited (ABN 48 067 796 641) (AFSL 223621) as the Responsible Entity for Goodman Industrial Trust (ARSN 091 213 839) a