Reef Casino Trust · ASX:RCT
Reef Casino Trust — FY2007 Earnings Presentation
13 slides from Reef Casino Trust's earnings presentation, Feb 20, 2008
Slide 1: Reef Casino Trust – Year ended 31 December 2007
REEF CASINO TRUST For personal use only Year ended 31 December 2007
Slide 2: Key Points
Key Points For personal use only • Property independently revalued at $171 million, $42.5 million • Continuing strong casino & hotel business • Net profit $12.8 million • Distributable profit $10 million – Second half year $6.1 million – First half year $3.9 million
Slide 3: Full Year Results
Full Year Results For personal use only 2007 2006 $’000 $’000 Revenue Rental Income 21,349 23,787 Other Income 361 452 Total revenue 21,710 24,239 Total expenses 11,662 10,757 Profit 10,048 13,482 Earnings per unit 20.2 cents 27.1 cents EBITDA 16,794 19,581
Slide 4: Full Year Results
Full Year Results For personal use only Trust rental Lower in 1st half; increase in 2nd half Premium play Business up, but low win rate Grind/Main floor table games Contributions up Slots revenues Recovered from smoking ban, up on last year Hotel operations Contributions up
Slide 5: Full Year Results
Full Year Results For personal use only • Trust costs under control – Responsible Entity Fee up – Amortisation and depreciation up (due to increased property valuation).
Slide 6: Distribution to Unitholders
Distribution to Unitholders For personal use only 1st Half 2nd Half Cents per unit Cents per unit From profits 7.8 12.3 From undistributed profits 7.7 1.2 account Total 15.5 13.5
Slide 7: Distributions for 2007, 2006, 2005, 2004 to Unitholders
Distributions for 2007, 2006, 2005, For personal use only 2004 to Unitholders 2007 2006 2005 2004 Cents per Cents per Cents per Cents per unit unit unit unit First half 15.50 15.50 8.50 7.25 year Second half 13.50 16.00 10.50 8.00 year Total 29.00 31.50 19.00 15.25 Special - - 18.00 - Grand Total 29
Slide 8: Balance Sheet
Balance Sheet For personal use only • Strengthened due to increased property value • Renewed bank loan for 5 years from 3 September 2007 • Low gearing / bank debt level
Slide 9: Economic Factors – Cairns & North Queensland
Economic Factors – Cairns & North For personal use only Queensland • Strong AUD$ – Negative impact on in-bound international tourism – Japanese arrivals down • Queensland Government smoking ban – Introduced July 2006 – Negative impact slots in first half year – Recovery in second half year
Slide 10: Reef Hotel Casino Highlights
Reef Hotel Casino For personal use only Highlights • Visitations – over 1.3 million • Expanded live entertainment program • Conferencing / Banqueting boosted Launch of new suite of rooms • Investments in electronic machine games continue New linked jackpot offering a $100,000 starting jackpot • Prem
Slide 11: Reef Hotel Casino Strong Key Performance Indicators
Reef Hotel Casino For personal use only Strong Key Performance Indicators • Hotel accom revenue 0.5% • Food/beverage revenues 3.2% / 7.2% • Electronic Gaming revenues 1.9% • Table games “Grind” revenue 3.2% • Premium Play “drop”/”turnover” 15.6% / 84.4% [Let down by poor win rate]
Slide 12: Outlook 2008
Outlook 2008 For personal use only • Tourism industry flat • Special international air charters – positive for region • Electronic gaming machines revenues to grow • Premium play – improve win rate • Look out for possible opportunities
Slide 13: Reef Hotel Casino
For personal use only Reef Hotel Casino