Cedar Woods Properties Limited · ASX:CWP
Cedar Woods Properties — Shareholder Meeting (November 2018)
32 slides from Cedar Woods Properties's shareholder meeting presentation, Nov 13, 2018
Slide 1: Annual General Meeting 2018
Annual General Meeting 2018
Slide 2: Agenda
Agenda 1 Chairman’s Address Mr William Hames 2 Managing Director’s Review Mr Nathan Blackburne 3 Formal Business • Ordinary Business: Consideration of financial report • Ordinary Resolution 1: Re-election of retiring director Ronald Packer • Ordinary Resolution 2: Re-election of retiring director Va
Slide 3: Chairman's Address
Chairman’s Address Chairman Mr William G Hames
Slide 4: Delivering FY2018 results
Delivering FY2018 results Geography Price Point 4 CEDAR WOODS AGM 2018
Slide 5: FY2018 share price performance
FY2018 share price performance Last Price $7.00 $6.50 $6.00 $5.50 $5.00 $4.50 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 5 CEDAR WOODS AGM 2018
Slide 6: Our new brand
Our new brand Geography Price Point 6 CEDAR WOODS AGM 2018
Slide 7: Agenda
Agenda 1 Chairman’s Address Mr William Hames 2 Managing Director’s Review Mr Nathan Blackburne 3 Formal Business • Ordinary Business: Consideration of financial report • Ordinary Resolution 1: Re-election of retiring director Ronald Packer • Ordinary Resolution 2: Re-election of retiring director Va
Slide 8: Managing Director's Review
Managing Director’s Review Managing Director Mr Nathan J Blackburne
Slide 9: Strategic priorities
Strategic priorities 9 CEDAR WOODS AGM 2018
Slide 10: High Performance Culture - Aligning staff to objectives
High Performance Culture - Aligning staff to objectives 2018 Staff Survey: How familiar are you with Cedar Woods' vision & strategy? Geography 60.0% 49.4% 50.0% 43.0% 40.0% 30.0% 20.0% 10.0% 7.6% 0.0% 0.0% Very Familiar Familiar Somewhat Unfamiliar Familiar Price Point 10 CEDAR WOODS AGM 2018
Slide 11: High Performance Culture
High Performance Culture Strong correlation between performance & culture. 2018 Staff Survey: How likely would you be to recommend Cedar Woods as a place to work? Implemented a range of initiatives: 60.0% ▪ Rewarding out-performance 50.7% 50.0% ▪ New performance management systems 44.2% ▪ Securi
Slide 12: Operational excellence
Operational excellence High quality projects structured to optimise returns Geography Safe work environments Digital workplace - updated to date core technologies Integrated systems, serving as a source of advantage Focus on productivity & efficiency Bushmead, WA A strong corporate brand
Slide 13: Our strategy
Our strategy Product Diversity Presales at July 18 Commercial Our strategy is to grow our 7% national portfolio, diversified Apartments Land Sales 35% by geography, product type & 22% price point so that it continues to hold broad customer appeal & performs well in a 36% range of market conditions.
Slide 14: Western Australia
Western Australia 40KM 15 projects & approximately 6,000 lots 20KM ARIELLA PRIVATE ESTATE 10KM BUSHMEAD Projects catering for a range of buyer types 5KM PERTH CBD HARRISDALE Land subdivision & townhouses GREEN KARMARA Several major new developments starting THE BROOK AT BYFORD to contribute
Slide 15: Western Australia highlights
Western Australia highlights Bushmead 950+ lot estate, strong margins, contributed 1st full year FY18 Project duration of 8 years Price range $168,000 - $360,000 Bushmead Millars Landing Bushmead 1,600+ lots First settlements occurred in FY18, 10-15 year project First stage complete & sa
Slide 16: Victoria
Victoria 40KM 11 projects (7 currently at Williams Landing) 20KM CARLINGFORD ST. A 10KM Approximately 1,500 lots / dwellings / offices 5KM LEVESON STREET MELBOURNE Land subdivision, townhouses, apartments WILLIAMS LANDING CBD & commercial projects PROJECTS JACKSON GREEN Port Phillip Bay Cont
Slide 17: Victoria highlights
Victoria highlights St A (St Albans) 260+ townhouses & apartments Strong sales & price growth First stage settlements expected in Q2 FY19 - some construction delays Price range $450,000 - $650,000 St A Artist’s impression Jackson Green (Clayton South) 500+ townhouses & apartments Strong
Slide 18: Williams Landing
Williams Landing 9 years+ remaining project life 101 Overton Rd - strata office Diverse mix of land, townhouses, apartments & commercial Pipeline of 20 commercial / residential sites & over 200 dwellings outside of town centre 101 Overton Road Strata Artist’s impression Numerous projects und
Slide 19: Target Headquarters
Target Headquarters 12,800sqm, 9 level office building at Williams Landing Fully leased to Target for their new headquarters 111 Overton Rd - strata office Delivery progressing well, under budget & ahead of program Presold to Centuria Funds Management for $58m. Settlement expected by Jan 201
Slide 20: Queensland
Queensland Ellendale (Upper Kedron) 228 ha site, 12km west of Brisbane CBD 480 lots approved on 1/3 of site Council approval of rezoning for balance of site - Sept 18 Price range $290,000 – $482,000 Ellendale Ellendale Bexley (Wooloowin) 3.8 ha site, 6km north of Brisbane CBD 279 dwellin
Slide 21: South Australia
South Australia Glenside 3km south east of CBD, 1,000 townhouses & apartments Blue chip, highly sought after suburb Stage 1 approved; 61 townhouses & 136 apartments Strong presales at average price of $880,000 Construction of first 34 townhouses underway First apartment building released
Slide 22: Outlook
Outlook Conditions differ from State to State with softer conditions expected in some markets Low interest rates, population growth & Government incentives underpinning demand Projects in VIC, SA and QLD in higher performing locations with low competition Positive outlook underpinned by pre-sales of
Slide 23: Agenda
Agenda 1 Chairman’s Address Mr William Hames 2 Managing Director’s Review Mr Nathan Blackburne 3 Formal Business • Ordinary Business: Consideration of financial report • Ordinary Resolution 1: Re-election of retiring director Ronald Packer • Ordinary Resolution 2: Re-election of retiring director Va
Slide 24: 1. Ordinary Business
1. Ordinary Business To receive and consider the financial statements for the year ended 30th June 2018 and the accompanying directors’ report, directors’ declaration and auditor’s report. Geography Price Point 24 CEDAR WOODS AGM 2018
Slide 25: Poll procedure
Poll procedure A poll will be conducted for Ordinary Resolutions 1 – 4 Geography Price Point 25 CEDAR WOODS AGM 2018
Slide 26: 2. Ordinary Resolution 1
2. Ordinary Resolution 1 Re-election of retiring director That Ron Packer, having retired in accordance with the company’s constitution and, being eligible, offers Geography himself for re-election, be re-elected as a director of the company. Summary of 264 proxy votes received totaling 49,940,170 s
Slide 27: 3. Ordinary Resolution 2
3. Ordinary Resolution 2 Re-election of retiring director That Valerie Anne Davies, having retired in accordance with the company’s constitution and, Geography being eligible, offers herself for re-election, be re- elected as a director of the company. Summary of 264 proxy votes received totaling 49
Slide 28: 4. Ordinary Resolution 3
4. Ordinary Resolution 3 Remuneration report That the remuneration report that forms part of the directors’ report for the Geography financial year ended 30 June 2018, be adopted. Summary of 241 proxy votes received totaling 33,106,363 shares # % For 31,638,717 96.79 Against 465,099 1.42 Open 588,09
Slide 29: 5. Ordinary Resolution 4
5. Ordinary Resolution 4 Approval for the issue of Performance Rights under the LTI Plan to Mr Nathan Blackburne or his nominee Geography That, for the purposes of Listing Rule 10.14, Chapter 2E of the Corporations Act and for all other purposes, Shareholders authorise and approve the issue of 46,87
Slide 30: Agenda
Agenda 1 Chairman’s Address Mr William Hames 2 Managing Director’s Review Mr Nathan Blackburne 3 Formal Business • Ordinary Business: Consideration of financial report • Ordinary Resolution 1: Re-election of retiring director Ronald Packer • Ordinary Resolution 2: Re-election of retiring director Va
Slide 31: Poll Results
Poll Results • Ordinary Resolution 1: Re-election of retiring director Ronald Packer • Ordinary Resolution 2: Re-election of retiring director Valerie Davies • Ordinary Resolution 3: Remuneration report • Ordinary Resolution 4: Performance rights
Slide 32: Perth Office Melbourne Office
Perth Office Melbourne Office Ground Floor, 50 Colin Street Level 1, 476 St Kilda Road West Perth WA 6005 Melbourne VIC 3004 T: (08) 9480 1500 T: (03) 9820 1777 E: perth@cedarwoods.com.au E: melbourne@cedarwoods.com.au Brisbane Office Adelaide Office Level 6, 12 Creek Street 1 Mulberry Road Brisbane
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