Lifestyle Communities Ltd · ASX:LIC
Lifestyle Communities — H1 FY2010 Earnings Presentation
21 slides from Lifestyle Communities's earnings presentation, Feb 26, 2010
Slide 1: Half Year Results February 2010
For personal use only I 2010 February
Slide 2: Overview
Overview For personal use only • Half Year Results Highlights • Portfolio Status • Operational Outlook • Capital Management • Summary I Half Year Results – Feb 2010
Slide 3: Financial Results
Financial Results For personal use only I Half Year Results – Feb 2010
Slide 4: Half Year Results To 31st Dec 2009 – Highlights
Half Year Results To 31st Dec 2009 – Highlights For personal use only 2009 (000’s) 2008 (000’s) Revenue $11,200 $5,500 Site Income $973 $534 Net Profit Before Tax $3,559 $610 Net Tangible Assets $24,659 $18,982 EPS .54c (.79)c I Half Year Results – Feb 2010
Slide 5: Net Sales (Deposits)
Net Sales (Deposits) For personal use only Unit Sales (Deposits) 16 14 12 10 8 Deposits 6 Trend 4 2 0 I Half Year Results – Feb 2010
Slide 6: Site Income From July to Jan
For personal use only Site Income From July 08 to Jan 10 Gross Site Rental and DMF Received Per month $200,000 $180,000 $160,000 $140,000 $120,000 $100,000 Site Income $80,000 Trend $60,000 $40,000 $20,000 $- Oct-08 Jan-09 Jun-09 Aug-09 Oct-09 Jan-10 Jul-08 Aug-08 Sep-08 Dec-08 Apr-09 Jul-09 Sep-09
Slide 7: Projected Debt and Gross Assets
Projected Debt and Gross Assets For personal use only $30,000,000 $60,000,000.00 $59,000,000.00 $25,000,000 $58,000,000.00 $20,000,000 $57,000,000.00 $56,000,000.00 $15,000,000 $55,000,000.00 Forecast Net Debt $10,000,000 $54,000,000.00 Gross Assets $53,000,000.00 $5,000,000 $52,000,000.00 $- $51,00
Slide 8: Portfolio Status
Portfolio Status For personal use only I Half Year Results – Feb 2010
Slide 9: Portfolio Status (February 2010)
Portfolio Status (February 2010) For personal use only Estimated Sites On available for Village Completion Current status development Value Brookfield $19.2M 87% sold 230 Warragul $17M 36% Sold 183 Tarneit $12.2M 49% Sold 137 Yet to Commence Shepparton $28.2M Dev. Approval 320 Cranbourne * $21.1M De
Slide 10: Brookfield
Brookfield For personal use only May 2007 November 2009 I Half Year Results – Feb 2010
Slide 11: Tarneit
Tarneit For personal use only June 2008 November 2009 I Half Year Results – Feb 2010
Slide 12: Warragul
Warragul For personal use only June 2008 January 2010 I Half Year Results – Feb 2010
Slide 13: Cranbourne
Cranbourne, November 2009 For personal use only I Half Year Results – Feb 2010
Slide 14: Shepparton
Shepparton For personal use only I Half Year Results – Feb 2010
Slide 15: Operational Outlook
Operational Outlook For personal use only I Half Year Results – Feb 2010
Slide 16: Operational Outlook
Operational Outlook …. For personal use only • Demand for affordable retirement solutions continues to remains strong • Three villages now generating development and operational revenue • Currently holding 65 deposits across the 3 villages. • Assuming historical settlement rates are maintained, Net
Slide 17: Operational Outlook: Unit settlement forecast
Operational Outlook …. For personal use only Unit settlement forecast * Village FY10 FY11 FY12 FY13 Qtr Qtr Qtr Qtr Qtr Qtr Qtr Qtr Qtr Qtr Qtr Qtr Qtr Qtr Qtr Qtr 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 Brookfield 50 41 32 23 14 5 Tarneit 113 104 95 86 77 68 59 50 41 32 23 14 5 Warragul 156 147 138 129 120
Slide 18: Capital Management: Debt
Capital Management… For personal use only Debt Description Total borrowings $24m Facility Limit $30m Gross Assets $53.8m Debt to gross asset ratio 44.6% Target debt to gross asset ratio 35% I Half Year Results – Feb 2010
Slide 19: Capital Management: Debt
Capital Management… Debt For personal use only • Facility extended to 31st March 2011 • Key covenants unchanged • Funding limited unchanged • In discussion to extend the facility for a further 2 years • Exploring alternate funding options I Half Year Results – Feb 2010
Slide 20: Summary
Summary For personal use only • Market opportunity • Strong growth with the ageing population in Australia • Affordability is key driver for housing demand in the future • The majority of retirees don’t have $300k+ to spend on housing • Current economic conditions has increased interest in affordabl
Slide 21: For personal use only
For personal use only I Half Year Results – Feb 2010
Lifestyle Communities — H1 FY2010 Earnings Presentation on 6ix