Qualitas Limited · ASX:QAL
Qualitas — Shareholder Meeting (November 2023)
25 slides from Qualitas's shareholder meeting presentation, Nov 24, 2023
Slide 1: Annual General Meeting Speeches and Presentation
ASX Announcement Qualitas Limited (ASX: QAL) 24 November 2023 Qualitas Limited – Annual General Meeting Speeches and Presentation Qualitas Limited (ASX: QAL) (Qualitas or Company) attaches a copy of the Chair’s Address and Group Managing Director’s Address, and presentation to be delivered today at
Slide 2: About Qualitas
About Qualitas Qualitas Limited ACN 655 057 588 (Qualitas) is an ASX-listed Australian alternative real estate investment manager with approximately A$8.0 billion1 of committed funds under management. Qualitas matches global capital with access to attractive risk adjusted investments in real estate
Slide 3: Chair's Address
Qualitas Limited 2023 Annual General Meeting Addresses 24 November 2023 Chair’s Address It has been another year of growth and momentum for Qualitas as we celebrate the Group’s 15th anniversary. This year also represents our first full year as a listed entity, and pleasingly as reported at our full
Slide 4: Chair's Address (continued)
comprising specialists in environmental, social and/or governance issues to help shape best practice and guide us as we embed ESG considerations across the Qualitas Group. Under its Charter, the ESG Advisory Group will provide advice on ESG strategy, policy development, risks and opportunities and r
Slide 5: Group Managing Director's Address
Group Managing Director’s Address As Andrew mentioned, FY23 was Qualitas’ first full financial year as a listed entity, marking the Group’s 15-year anniversary. I'm extremely proud of what the team has achieved to get us here and our potential as we look forward. Since the IPO, our focus has been on
Slide 6: Group Managing Director's Address (continued)
We ended the year with a cash balance of $192 million, well-positioned to take advantage of opportunities that may arise and providing the flexibility to support new FUM growth through co-investment and fund underwriting and bridging activities. The strong growth of our FUM has primarily been driven
Slide 7: Group Managing Director's Address: guidance
And finally, our continued growth is expected to be supported by the resilience and ongoing demand in the multi-dwelling residential sector over the medium term. Given these opportunities and based on no material adverse change in the current market conditions, we again reaffirm our market guidance
Slide 8: Annual General Meeting November 2023
For personal use only Annual General Qualitas Meeting (ASX:QAL) 24 November 2023
Slide 9: Acknowledgement of Country
Acknowledgement of Country Qualitas acknowledges the Traditional For personal use only Custodians of country throughout Australia and their ongoing connection to land, sea, and community. We pay our respect to their Elders past and present. JOURNEY OF GROWTH BY ALYSHA MENZEL Annual General Meeting 2
Slide 10: Disclaimer
Disclaimer This presentation has been prepared and issued by and its sole responsibility of Qualitas Limited (ACN 655 057 588). To the maximum extent permitted by law, the information contained in this presentation is given without any liability whatsoever to Qualitas Limited, any of its related ent
Slide 11: Board of Directors
Board of Directors For personal use only Andrew Fairley AM Andrew Schwartz JoAnne Stephenson Independent Chairman Group Managing Director and Independent Non-Executive Director Appointment date: 4 November 2021 Co-Founder Appointment date: 4 November 2021 Appointment date: 4 November 2021 Mary Ploug
Slide 12: Executive management team
Executive management team For personal use only Andrew Schwartz Mark Fischer Philip Dowman Group Managing Director Global Head of Real Estate Chief Financial Officer and Co-Founder and Co-Founder Kathleen Yeung Dean Winterton Tim Johansen Global Head of Corporate Global Head of Capital Global Head o
Slide 13: Agenda
Agenda 1 Chair’s address For personal use only 2 Group Managing Director’s address 3 Formal items of business Annual General Meeting 2023 6
Slide 14: Chair's address
For personal use only Chair’s address
Slide 15: 2023 year in review
2023 year in review Since FY22, FUM has grown 88% to $8.0bn1 • FY23 saw substantial top-line earnings growth and driven by six substantial institutional mandates margin expansion – increasing scalability due to For personal use only significant FUM and deployment growth • Successful establishment of
Slide 16: Our core values underpin our success
Our core values underpin our success For personal use only Our success since establishment 15 years ago is a true reflection of our team, their levels of engagement and our five core values which they uphold Respect Collaboration Entrepreneurship Treat all stakeholders fairly Build collaborative rel
Slide 17: Group Managing Director's address
For personal use only Group Managing Director’s address
Slide 18: Business and strategy summary
Business and strategy summary Group highlights $44.1m 45% For personal use only Continued execution of strategy reflected in a step change of growth in FUM and deployment FY23 funds management FY23 funds management segment revenue segment normalised EBITDA margin Improving scalability through increa
Slide 19: Early FY24 momentum
Early FY24 momentum Significant deployment pipeline in credit strategies in first quarter of FY24 WHAT HAVE WE DONE TO CAPITALISE For personal use only • Team structured to focus on distinct credit and equity strategies from an execution perspective • Increased investment in origination resources ac
Slide 20: Outlook and guidance
Outlook and guidance For personal use only FY24 guidance considerations FY24 guidance 1 • Substantial dry powder and focus on asset and sponsor quality. Estimated range Deployment quantum and timing are key variables of the guidance range. • Higher recurring base management fees anticipated to be a
Slide 21: Thank you
For personal use only Thank you MELBOURNE OFFICE SYDNEY OFFICE BRISBANE OFFICE Level 38, 120 Collins Street, Governor Macquarie Tower Level 14, 167 Eagle Street, Melbourne VIC 3000 Level 27, 1 Farrer Place, Brisbane QLD 4000 Sydney NSW 2000 QAL INVESTOR ENQUIRES P: +61 3 9612 3939 E: investor.relati
Slide 22: Appendix: Group and Funds Management Segment Earnings
For personal use only Appendix Group and Funds Management Segment Earnings
Slide 23: Group earnings
Group earnings % P&L BREAKDOWN ($THOUSANDS) FY22 FY23 (YOY)3 For personal use only Net funds management revenue1 13,968 18,754 34% Net performance fee revenue 19,398 3,212 (83%) Principal income2 4,252 15,850 273% Arch Finance EBITDA 3,903 3,879 (1%) (-) Corporate costs (4,877) (7,783) 60% Normalise
Slide 24: Funds management segment earnings
Funds management segment earnings % P&L BREAKDOWN ($THOUSANDS) FY22 FY23 For personal use only (YOY)2 Base funds management fees 26,117 32,343 24% Transaction fees 9,163 11,788 29% Funds management revenue 35,280 44,131 25% (-) Core employee costs (21,312) (25,378) 19% Net funds management revenue 1
Slide 25: Reconciliation of statutory financial to normalised financial
Reconciliation of statutory financial to normalised financial % ($THOUSANDS) FY22 FY23 For personal use only (YOY) Statutory EBITDA 14,646 34,599 34% Additional 4-month trading period pre-listing 11,268 n/a 1 Full Year EBITDA 25,914 34,599 (Gain) / loss on mark to market (MTM) value of QRI investmen