Calgro M3 Holdings Limited · JSE:CGR
Calgro M3 — FY2011 Earnings Presentation
70 slides from Calgro M3's earnings presentation, February 2011
Slide 1: Version 4 Date: Jan-11
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Slide 2: Agenda
Agenda • Group structure • Background • Share Profile • Products and Market Definition • Business Model • February 2011 Financial Review • Projects • Integrated Development Concept
Slide 3: Calgro M3 – Subsidiary Companies
Calgro M3 – Subsidiary Companies Calgro M3 Holdings Limited 2005/027663/06 Calgro M3 Calgro M3 Project Calgro M3 Land (Pty) Developments (Pty) Management (Pty) Ltd Ltd Ltd 2005/027072/07 2007/030313/07 1996/017246/07 Hightrade-Invest 60 Tres Jolie Ext 24 (Pty) (Pty) Ltd Ltd CM3 Randpark Ridge Ext 12
Slide 4: Calgro M3 – Background
Calgro M3 – Background • Calgro M3 is an established property development company with a 15 year track record (established in 1995), specialising in delivering truly integrated development projects that adhere to Government’s BNG principles; • Calgro M3 has a proven track record in the RDP, Rental a
Slide 5: Calgro M3 – Background
Calgro M3 – Background • Development partners include: ¾ City of Johannesburg, Department of Housing ¾ Gauteng Provincial Government, Department of Housing ¾ City of Cape Town, Department of Housing ¾ Johannesburg Social Housing Company (JOSHCO) • Finance partners include:
Slide 6: Calgro M3 – Background
Calgro M3 – Background • Development partners include: ¾ City of Johannesburg, Department of Housing ¾ Gauteng Provincial Government, Department of Housing ¾ City of Cape Town, Department of Housing ¾ Johannesburg Social Housing Company (JOSHCO) • Finance partners include: ¾ RMB ¾ FNB ¾ Standard Ban
Slide 7: Shareholding Profile
Shareholding Profile Management Freefloat ‐ BEE Freefloat 32% 43% 25%
Slide 8: Products and Market Definition
Overview ‐ Products and Market Definition R501 000 up to R1 800 000+ Full title and sectional title Integrated developments Up to R 500 000 Up to R300 000 Applicable subsidy
Slide 9: Business Model
Business Model Identify project Due diligence – Top-structure market research, construction viability studies, etc Acquire land, Transfers to end- Turnkey Developer development users, etc funding, etc Infrastructure (bulk Township & link, internal) Establishment Marketing & Sales
Slide 10: Infrastructure Projects – Pennyville
Infrastructure Projects – Pennyville Pennyville project – 2,752 units: • Roads and storm water reticulation; • Water and sewer reticulation; • Electrical reticulation; • Pedestrian bridges; • Pennyville substation (electricity)
Slide 11: Infrastructure Projects – Fleurhof
Infrastructure Projects – Fleurhof Fleurhof project – 9,602 units: • Roads and storm water reticulation; • Water and sewer reticulation; • Electrical reticulation; • Water reservoir; • Extension of Westlake Road – linking Soweto with northern suburbs; • Shared substation with Pennyville. Phase 2 Feb
Slide 12: Financial Review
Financial Review Increase • Revenue: 49.34 % • Headline Earnings: 276.39 % • Cash Generated From Operations: 2001.41 % • Cash On Hand: 197.41 % Decrease • Borrowings: 6.37 %
Slide 13: Financial Highlights
Financial Highlights Debt vs Equity 500 000 000 450 000 000 400 000 000 350 000 000 300 000 000 250 000 000 200 000 000 150 000 000 100 000 000 50 000 000 ‐ 2008 2009 2010 2011 Debt Debt excluding Trade payables Equity
Slide 14: Financial Highlights
Financial Highlights Current assets vs current liabilities 500 000 000 450 000 000 400 000 000 350 000 000 300 000 000 250 000 000 200 000 000 150 000 000 100 000 000 50 000 000 ‐ 2008 2009 2010 2011 Current assets Current assets excluding inventory Current liabilities Current liabilities excluding
Slide 15: Financial Review
Financial Review 2011 2010 2009 Group income statement Revenue 281 849 367 188 725 584 233 054 190 Gross profit 35 024 294 27 667 276 50 849 201 Gross profit % 12.43% 14.66% 21.82% Profit before tax 15 310 618 16 199 783 7 886 397 Basic earnings per share 13.34 12.19 4.74 Headline earnings per share
Slide 16: Non – Financial Highlights
Non – Financial Highlights Pennyville: • Successful completion of the project and translating experience and lessons learnt on the project into the Fleurhof and Jabulani developments; Fleurhof: • Completing the installation of infrastructure for Ext’s 2 and 3, and receiving a section 82 certificate
Slide 17: Non – Financial Highlights
Non – Financial Highlights Jukskei View: • Receiving a section 82 certificate and breaking ground on the construction of houses; City of Cape Town: • Expanding outside of Gauteng for the first time through the award to the Group of a project developing land on behalf of the City of Cape Town into an
Slide 18: Existing Projects – Integrated & Low to Medium Income Residential
Existing Projects – Integrated & Low to Medium Income Residential Social Number of Affordable Estimated gross Project Location Type of project RDP units housing & units housing revenue GAP Johannesburg Fleurhof Integrated 9 602 2 822 4 864 1 916 R 2 280 000 000 South Soweto, Res 3 multi‐storey – Jab
Slide 19: Completed Projects – Mid to High Income Residential
Completed Projects – Mid to High Income Residential
Slide 20: Completed Projects – Mid to High Income Residential
Completed Projects – Mid to High Income Residential
Slide 21: Calgro M3 – Integrated Development Concept
Calgro M3 – Integrated Development Concept
Slide 22: Pennyville Ext 1 Integrated / Mixed Use Development Project
Pennyville Ext 1 (Johannesburg South) Integrated / Mixed Use Development Project Finance partner/s:
Slide 23: Pennyville Integrated Development – 2,752 units
Pennyville Integrated Development – 2,752 units (New Canada Road ‐ Johannesburg South) RDP/BNG (freehold semi‐ 1,000 units detached) RDP/BNG multi‐storey (3 & 4 352 units storey walk‐ups family units) GAP, social and rental housing (3 1,400 units & 4 storey walk‐ups family units) Affordable housing
Slide 24: Pennyville Integrated Development – 2,752 units
Pennyville Integrated Development – 2,752 units (New Canada Road ‐ Johannesburg South) BRT Route New Canada Station School
Slide 25: Pennyville Integrated Development – 2,752 units
Pennyville Integrated Development – 2,752 units (New Canada Road ‐ Johannesburg South) Freestanding RDP units Social Housing units 3 Storey walk‐up RDP units 2 Storey walk‐up RDP units Bonded (GAP) or rental units
Slide 26: Pennyville Integrated Development
Pennyville Integrated Development (New Canada Road ‐ Johannesburg South)
Slide 27: Pennyville Integrated Development – 2,752 units
Pennyville Integrated Development – 2,752 units (New Canada Road ‐ Johannesburg South)
Slide 28: Fleurhof Integrated / Mixed Use Development Project
Fleurhof (Johannesburg South) Integrated / Mixed Use Development Project Finance partner/s:
Slide 29: Fleurhof Integrated Development – Unit Typology and Mix
Fleurhof Integrated Development – Unit Typology and Mix (Main Reef Road ‐ Johannesburg South) RDP/BNG (freehold semi‐ 0 units detached) RDP/BNG multi‐storey (3 & 4 2,822 units storey walk‐ups family units) GAP, social and rental housing (3 4,864 units & 4 storey walk‐ups family units) Affordable hou
Slide 30: Fleurhof Integrated Development – 9,602 units
Fleurhof Integrated Development – 9,602 units (Main Reef Road ‐ Johannesburg South) Existing Fleurhof township Main Reef Rd - ± 9.8 km’s from Jhb CBD Soweto (Meadowlands)
Slide 31: Fleurhof Integrated Development – Phase 1
Fleurhof Integrated Development – Phase 1 (Main Reef Road ‐ Johannesburg South)
Slide 32: Jabulani CBD GAP, Social & Rental Housing Project
Jabulani CBD (Soweto, Johannesburg) GAP, Social & Rental Housing Project Finance partner/s:
Slide 33: Jabulani CBD Development – Unit Typology and Mix
Jabulani CBD Development – Unit Typology and Mix (Main Reef Road ‐ Johannesburg South) RDP/BNG (freehold semi‐ 0 units detached) RDP/BNG multi‐storey (3 & 4 0 units storey walk‐ups family units) GAP, social and rental housing (3 4,199 units & 4 storey walk‐ups family units) Affordable housing (freeh
Slide 34: Jabulani CBD Development – 4,199 units (Bolani Road, Soweto)
Jabulani CBD Development – 4,199 units (Bolani Road, Soweto) Jabulani Hostel Development Residential – ph 2 (parcel K) Performing Arts Theatre Residential – ph 3 (parcel A) Residential– ph 2 (parcel C) (parcel B) Jabulani Mall New 300 bed hospital
Slide 35: Jabulani CBD Development – Breaking Ground!
Jabulani CBD Development – Breaking Ground!
Slide 36: Jabulani Hostels Hostel Re-Development Project
Jabulani Hostels (Soweto, Johannesburg) Hostel Re‐Development Project Finance partner/s:
Slide 37: Jabulani Hostel Development – Unit Typology and Mix – Phase 1
Jabulani Hostel Development – Unit Typology and Mix – Phase 1 (Main Reef Road ‐ Johannesburg South) RDP/BNG (freehold semi‐ 0 units detached) RDP/BNG multi‐storey (3 & 4 400 units storey walk‐ups family units) CRU subsidized rental housing (3 100 units & 4 storey walk‐ups family units) Affordable ho
Slide 38: Jabulani Hostel Development – 1,638 units
Jabulani Hostel Development– 1,638 units (Bolani Road, Soweto) Existing hostel dwellings Phase 1
Slide 39: Jabulani Hostel Development – 1,638 units
Jabulani Hostel Development– 1,638 units (Bolani Road, Soweto)
Slide 40: South Hills Integrated Development Project
South Hills (Johannesburg South) Integrated Development Project (Joint Venture with ) Finance partner/s:
Slide 41: South Hills Integrated Development – Unit Typology and Mix
South Hills Integrated Development – Unit Typology and Mix ( Johannesburg South) RDP/BNG (freehold semi‐ 0 units detached) RDP/BNG multi‐storey (3 & 4 1,702 units storey walk‐ups family units) GAP, social and rental housing (3 1,485 units & 4 storey walk‐ups family units) Affordable housing (freehol
Slide 42: South Hills Integrated Development – 4,217 units
South Hills Integrated Development – 4,217 units (South Hills, Jhb South) JHB CBD Turfontein Race Course Rosettenville The Site
Slide 43: Hospital View Integrated Development Project
Hospital View (Johannesburg South) Integrated Development Project Finance partner/s:
Slide 44: Hospital View Integrated Development – Unit Typology and Mix
Hospital View Integrated Development – Unit Typology and Mix ( Johannesburg South) RDP/BNG (freehold semi‐ 0 units detached) RDP/BNG multi‐storey (3 & 4 800 units storey walk‐ups family units) GAP, social and rental housing (3 1,600 units & 4 storey walk‐ups family units) Affordable housing (freehol
Slide 45: Hospital View Integrated Development – 3,200 Units
Hospital View Integrated Development – 3,200 Units ( Johannesburg South)
Slide 46: Jukskei View (Midrand) Affordable Housing Project
Jukskei View (Midrand) Affordable Housing Project Finance partner/s:
Slide 47: Jukskei View Development – Unit Typology and Mix
Jukskei View Development – Unit Typology and Mix (Midrand) RDP/BNG (freehold semi‐ 0 units detached) RDP/BNG multi‐storey (3 & 4 0 units storey walk‐ups family units) GAP, social and rental housing (3 0units & 4 storey walk‐ups family units) Affordable housing (freehold 715 units freestanding family
Slide 48: Jukskei View Development – 715 Units
Jukskei View Development – 715 Units (Midrand) Entrance Gate
Slide 49: Brandwag (Bloemfontein) Social Housing Project
Brandwag (Bloemfontein) Social Housing Project (Joint Venture with Kopano) Finance partner/s:
Slide 50: Brandwag Social Housing Development – Unit Typology and Mix
Brandwag Social Housing Development – Unit Typology and Mix (Bloemfontein) RDP/BNG (freehold semi‐ 0 units detached) RDP/BNG multi‐storey (3 & 4 0 units storey walk‐ups family units) GAP, social and rental housing (3 1,050 units & 4 storey walk‐ups family units) Affordable housing (freehold 0 units
Slide 51: Brandwag Social Housing Development – 1,050 Units
Brandwag Social Housing Development – 1,050 Units (Bloemfontein)
Slide 52: Brandwag Social Housing Development – 1,050 Units
Brandwag Social Housing Development – 1,050 Units (Bloemfontein)
Slide 53: Brandwag Social Housing Development – 1,050 Units
Brandwag Social Housing Development – 1,050 Units (Bloemfontein)
Slide 54: Scottsdene (Cape Town) Integrated Development Project
Scottsdene (Cape Town) Integrated Development Project Finance partner/s:
Slide 55: Scottsdene Integrated Development – Unit Typology and Mix
Scottsdene Integrated Development – Unit Typology and Mix (R101 – Scottsdene, Brackenfell) RDP/BNG (freehold semi‐ 550 units detached) RDP/BNG multi‐storey (3 & 4 0 units storey walk‐ups family units) CRU (subsidized rental), GAP, social and rental housing (3 & 4 1,487 units storey walk‐ups family u
Slide 56: Scottsdene Integrated Development – 2,247 units
Scottsdene Integrated Development – 2,247 units (Cape Town)
Slide 57: Scottsdene Integrated Development – Focus Area
Scottsdene Integrated Development – Focus Area
Slide 58: Scottsdene Integrated Development – Focus Area
Scottsdene Integrated Development – Focus Area
Slide 59: Scottsdene – Sectional Title, 3&4 Storey Walk-Ups
Scottsdene – Sectional Title, 3&4 Storey Walk‐Up‘s GAP, Rental & Social Housing ,& Affordable Housing
Slide 60: La Vie Nouvelle Retirement & Lifestyle Estate Project
La Vie Nouvelle (Fourways, Johannesburg) Retirement & Lifestyle Estate Project Finance partner/s:
Slide 61: La Vie Nouvelle Retirement and Lifestyle Estate – 388 units
La Vie Nouvelle Retirement and Lifestyle Estate – 388 units (Broadacres, Fourways)
Slide 62: Summerset Place (Midrand) Mid-Market Housing Project
Summerset Place (Midrand) Sectional Title Multi‐Storey and Freestanding Mid‐ Market Housing Project Finance partner/s:
Slide 63: Summerset Place – 280 units
Summerset Place – 280 units (Midrand, Gauteng)
Slide 64: Typical Units Integrated Projects
Typical Units Integrated Projects
Slide 65: Typical Unit Designs – Multi-Storey RDP/BNG Units
Typical Unit Designs – Multi‐Storey RDP/BNG Units Pennyville Project Pennyville Project Typical unit size ‐ 40m² ‐ variations of 2, 3 & 4 storey walk‐ ups Pennyville Project
Slide 66: Typical Unit Designs – Freestanding RDP/BNG Units
Typical Unit Designs – Freestanding RDP/BNG Units Pennyville Project Typical unit size ‐ 40m² ‐ variation of freestanding and semi‐detached units Pennyville Project
Slide 67: Typical Unit Designs – Multi-Storey GAP, Social & Rental Units
Typical Unit Designs – Multi‐Storey GAP, Social & Rental Units Typical unit sizes varies from 40m² to 85m² ‐ all family units ‐ variations of 2, 3 & 4 storey walk‐ ups
Slide 68: Social Investment – Pennyville Créche, etc
Social Investment – Pennyville Créche, etc
Slide 69: Pennyville Project – Community
Pennyville Project – Community
Slide 70: Pennyville Project – Community
Pennyville Project – Community