Peet Limited · ASX:PPC
Peet — Shareholder Meeting (October 2024)
17 slides from Peet's shareholder meeting presentation, Oct 30, 2024
Slide 1: 2024 Annual General Meeting (AGM)
ASX RELEASE ASX: PPC 30 October 2024 2024 Annual General Meeting (AGM) Enclosed are copies of addresses and a presentation to be given at today’s AGM of Peet Limited (ASX: PPC) by Mr Tony Lennon, Chairman, Mr Greg Wall, Chairman elect and Mr Brendan Gore, Managing Director and Chief Executive Office
Slide 2: Chairman's address to the 2024 Annual General Meeting
ASX RELEASE ASX: PPC 30 October 2024 Chairman’s address to the 2024 Annual General Meeting Introduction and welcome Good morning. My name is Tony Lennon, Chairman of Peet Limited, and I welcome you all to Peet Limited’s 2024 Annual General Meeting, which will be my last as a Director of the Company.
Slide 3: Chairman's address: strategic focus and shareholder returns
ASX RELEASE ASX: PPC • operating and statutory earnings per share of 7.77 cents. Strategic focus Peet continues to seek to optimise its land bank for future growth and value creation, with its strategic focus on: • investing in high quality land in strategic locations across the country; • expanding
Slide 4: Chairman's address: ESG and sustainability
ASX RELEASE ASX: PPC The rehabilitation of a creek line, reinstating a natural watercourse, use of recycled products throughout construction works and the use of recycled water in reserve irrigation demonstrate an innovative approach to embedding sustainability throughout that estate. • Water effici
Slide 5: Chairman's address: thanks to team and shareholders
ASX RELEASE ASX: PPC On behalf the Board I thank the Peet Team for their contributions to the success of our business, and finally, we would like to thank all our shareholders, joint venture partners and all other stakeholders for their ongoing support. I would now like to hand over to Brendan to ad
Slide 6: Annual General Meeting 2024
ANNUAL GENERAL MEETING 2024 For personal use only
Slide 7: Strong Platform for Growth
Strong Platform for Growth GEOGRAPHICALLY DIVERSE PIPELINE 130 YEAR TRACK RECORD OF DEVELOPING • Benefits from various growth corridors – positioned for THROUGH CYCLES future Australian population growth • Allows Peet to leverage state-base fluctuations • Ability to manage land bank and capital thro
Slide 8: FY24 Results Highlights
FY24 Results Highlights SOLID PERFORMANCE IN MIXED MARKET CONDITIONS FINANCIAL OPERATIONAL For personal use only FY24 Net Operating Earnings Operating Profit1 per Share FY24 DPS $36.6m 7.77c 4.25c 2,504 2,418 -48% on FY23 -47% on FY23 -43% on FY23 LOTS4 SOLD LOTS4 SETTLED EDITDA2 $481m NTA 72% Cash
Slide 9: Delivering against our Strategy
Delivering against our Strategy SIGNIFICANT VALUE TO BE UNLOCKED INVEST EXPAND MAINTAIN VALUE in high quality land in strategic product offering and focus on capital CREATION For personal use only locations across country geographic presence to appeal management to wider variety of customers • Good
Slide 10: Our Shareholder Returns
Our Shareholder Returns We have returned $201m to shareholders since FY18, through fully franked dividends and our SHAREHOLDER RETURNS SINCE FY18 ($M) ongoing on-market share buy-back For personal use only $22m • Disciplined application of our capital management framework and strong balance sheet me
Slide 11: Enquiry Levels Continue to Improve
Enquiry Levels Continue to Improve • Enquiry1 levels running above long run averages For personal use only 14,136 • Enquiries1 continue to improve into 11,954 11,899 12,187 1Q25 increasing by 16% on the 11,716 previous quarter - Slight improvement in 8,896 enquiries1 across 7,472 6,986 6,812 ACT/NSW
Slide 12: Strong Financial Position
Strong Financial Position Value of contracts on hand has continued to increase since year end providing solid momentum into FY25 • Value of contracts on hand has increased 33% to $640m since CONTRACTS ON HAND (VALUE) 30 June 2024 For personal use only $930m • Reflects strong market conditions across
Slide 13: High Quality Portfolio Underpinning Growth
HIGH QUALITY PORTFOLIO UNDERPINNING GROWTH THESE WELL LOCATED AND DIVERSIFIED PROJECTS ALONE INCLUDE c. 23,100 LOTS1 For personal use only FLAGSTONE CITY ASTON GOOGONG3 SHOREHAVEN UNIVERSITY OF CANBERRA Flagstone, QLD Craigieburn, VIC Googong, NSW Alkimos, WA Belconnen, ACT 10,668 lots1 remaining |
Slide 14: Group Outlook
Group Outlook DELIVERY PROGRAM IN PLACE TO MEET MARKET DEMAND • Various State and Territory residential markets are at Focused on positioning the Group for different points in their respective property cycles growth through a prudent approach to • Cost of living pressures and consumer confidence pro
Slide 15: Thank you
Thank you For personal use only peet.com.au 31 | FY24 Results
Slide 16: Disclaimer
Disclaimer While every effort is made to provide accurate and complete information, Peet does not warrant or represent that the information in this presentation is free from errors or omissions or is suitable for your intended use. This presentation contains forward-looking statements, including sta
Slide 17: Chairman elect's address to the 2024 Annual General Meeting
ASX RELEASE ASX: PPC 30 October 2024 Chairman elect’s address to the 2024 Annual General Meeting Thank you Tony, and hello everyone. As commented following the announcement that my fellow directors had selected me as the next Chairman of Peet, I am honoured to be trusted with this appointment. Peet