Ingenia Communities Group · ASX:INA
Ingenia Communities — Shareholder Meeting (November 2012)
24 slides from Ingenia Communities's shareholder meeting presentation, Nov 20, 2012
Slide 1: Ingenia Communities Group Annual General Meeting 2012
Ingenia Communities Group Annual General Meeting 2012 For personal use only 20 November 2012
Slide 2: Chairman
For personal use only Chairman Jim Hazel p2
Slide 3: Agenda
Agenda For personal use only Chairman‟s welcome Year in review CEO update Formal business of the meeting p3
Slide 4: Chairman's welcome
Chairman‟s welcome For personal use only Non-Executive Executives Directors Jim Hazel Simon Owen Chairman Managing Director and Chief Executive Officer Philip Clark Nikki Fisher Director Chief Operating Officer Amanda Heyworth Tania Betts Director Chief Financial Officer Leanne Ralph Company Secreta
Slide 5: Year in review: Board endorsed strategic priorities
Year in review For personal use only Board endorsed strategic priorities > Providing superior securityholder returns through security price growth and distributions; > Monetising overseas investments with capital to be re-invested in Australia; > Conversion of additional select rental villages to th
Slide 6: Year in review: security price and NAV discount
Year in review For personal use only INA security price has risen by 86% in the last year however a significant discount to Net Asset Value (NAV) remains. The Group is actively assessing various capital management strategies to continue narrowing the discount gap 36 NAV x 34 x 32 30 Discount gap 18.
Slide 7: CEO update
CEO update For personal use only Simon Owen Chief Executive Officer and Managing Director p7
Slide 8: Highlights
Highlights For personal use only Improved Garden Villages Rental portfolio achieved 83.4% occupancy in FY12, trending well towards long term target of 89% operational results DMF Conversion sales momentum continues to build with 46% of total stock sold or under contract New York portfolio sale
Slide 9: Market overview
Market overview For personal use only Demand from residents remains steady particularly at the affordable end of the market > Noticeable pick-up in enquiries and sales in key Ingenia markets of WA and QLD Supply remains well below long term requirements > Few new villages being built due to inabilit
Slide 10: Financial overview
Financial overview For personal use only Key financial metrics FY12 FY11 Net profit / (loss) $m 33.6 158% 13.1 Operating income – continuing operations $m 2.1 NA (1.8) Operating income - total $m 7.4 8% 6.9 Operating income per security cents 1.7 8% 1.6 Net cashflow from operations $m 5.1 40% 8.6 Lo
Slide 11: Financial overview: NAV composition
Financial overview For personal use only Net Asset Value (NAV) composition Cents per security 34.3¢ 40.0 35.0 0.6 34.3 5.3 30.0 1.7 1.4¢ NZ Students (4%) 25.9 0.7 0.1 3.2¢ DMF Conversion (9%) 25.0 7.9¢ Settlers (23%) 12.7¢ Garden Villages (37%) 20.0 9.1¢ US Seniors (27%) 15.0 30/06/2009 30-Jun-11 Fo
Slide 12: Capital management
Capital management For personal use only Improving capital position allows Ingenia to pursue accretive growth opportunities Australian A$82.0m debt facility refinanced for a further three years under improved terms and margin Recommencement of distributions funded from recurrent earnings not ass
Slide 13: Ingenia proudly supports our local communities
Ingenia proudly supports our local communities For personal use only Archer the Assistance Dog being raised at Settlers Rockhampton village in QLD p13
Slide 14: Portfolio update
Portfolio update For personal use only Largest owner of rental Portfolio of 34 villages in seniors living Australia communities in Australia and growing 25 Rental Villages 5 DMF Villages 4 DMF Conversions Villages 1,360 units 693 units 228 units p14
Slide 15: Portfolio update – Garden Villages (Rental)
Portfolio update – Garden Villages (Rental) For personal use only 100 > Occupancy at 84.9% as at 16 November 2012 89% 90 > Portfolio occupancy continues to trend upwards 85% to long term target of 89% Occupancy (%) 80% 80 78% 70% 70 > Continual improvement in operating performance to deliver higher
Slide 16: Portfolio update – Garden Villages (Rental)
Portfolio update – Garden Villages (Rental) For personal use only Wheelers Gardens Dubbo (Valued at $71.2k per unit) • 50% average 13 villages presently trading at margin occupancy 85% and above. These • $7.3k average are our Star performers where High profit per unit focus is on maintaining occup
Slide 17: Portfolio update – DMF Conversion
Portfolio update – DMF Conversion For personal use only > Since project launch to 9 November 2012, 91 settlements were achieved totaling $16.5m, with an additional 8 contracts in place worth $1.5m > Development Approval for Gladstone Stage 2 expansion was received in September 2012 > Currently takin
Slide 18: Portfolio update – Settlers Lifestyle (DMF)
Portfolio update – Settlers Lifestyle (DMF) For personal use only > Portfolio occupancy was 96% as at 30 June 2012 > 15 new sales totaling $5.9m and 23 resales totaling $6.3m were achieved in FY12 > Focus remains on reducing time on market for vacant units, refurbishing units to maximise pricing opp
Slide 19: Monetisation of overseas portfolio progressing
Monetisation of overseas portfolio progressing For personal use only > Likely one month delay due to Long Island meeting rescheduled following recent Hurricane Sandy > Settlement of the New York sale expected in late December – early January 2013 > Net proceeds of A$49.9m remain unchanged > Negotiat
Slide 20: Strategy
Strategy For personal use only Ingenia is committed to operating and building a highly profitable Australian Seniors living portfolio > Strict discipline to capital allocation will underpin all investment decisions > Focus acquisitions on cash yielding communities with development or repositioning u
Slide 21: Strategy: development forecast within existing portfolios
Strategy For personal use only Development forecast within existing portfolios as at 9 November 2012 Completion # of Value ($m) Units FY12 FY13 FY14 FY15 FY16+ Medium Active Development term target Settlers DMF Ridge Estate, NSW $8.1 29 Gladstone, QLD $16.9 68 Stage1 Stage 2 Rockhampton, QLD $12.7 7
Slide 22: Outlook
Outlook For personal use only > Market conditions in Australia remain challenging however demand for affordable seniors accommodation remains firm with few alternatives available > Exit from remaining overseas portfolios near complete, with proceeds to be reinvested in accretive and profitable senio
Slide 23: Appendix
Appendix For personal use only Additional information from this presentation 1. Slide 10 ‘Financial Overview’ - Operating income is a non-IFRS measure that presents, in the opinion of the Directors, the operating activities of INA in a way that reflects its underlying performance. Operating income e
Slide 24: Disclaimer
Disclaimer For personal use only This presentation was prepared by Ingenia Communities Holdings Limited (ACN 154 444 925) and Ingenia Communities RE Limited (ACN 154 565 990) as responsible entity for Ingenia Communities Fund (ARSN 107 459 576) and Ingenia Communities Management Trust (ARSN 122 928
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