Vicinity Centres · ASX:VCX
Vicinity Centres — Shareholder Meeting (November 2022)
26 slides from Vicinity Centres's shareholder meeting presentation, Nov 16, 2022
Slide 1: 2022 Annual General Meeting of Vicinity Centres – Addresses and Presentation
16 November 2022 Market Announcements Office Australian Securities Exchange Exchange Centre 20 Bridge Street SYDNEY NSW 2000 Dear Sir/Madam 2022 Annual General Meeting of Vicinity Centres (ASX:VCX) – Addresses and Presentation Please find attached copies of the addresses and presentation to be deliv
Slide 2: 2022 AGM Addresses
ASX Announcement 16 November 2022 2022 AGM Addresses Chairman’s address – Trevor Gerber Slide 1 – Introduction Good morning securityholders, fellow directors and our four director nominees, employees and guests. My name is Trevor Gerber, and I am the Chairman of Vicinity Centres (Vicinity, the Compa
Slide 3: Chairman's address (continued)
• Various other senior members of Vicinity’s Management team The returning officer for today’s meeting is Jim Kompogiorgas from Link Market Services, our Security Registry. Slide 4 - Chairman’s address Before we proceed, I have a couple of quick housekeeping points. As a courtesy, I would appreciate
Slide 4: Chairman's address
comment more on this later, but as a result of this announcement, Resolution 5 as set out in the Notice of Meeting, relating to an equity grant to Grant Kelley as part of his FY23 remuneration package, is withdrawn. I now formally open the poll on all remaining resolutions. The poll will remain open
Slide 5: Welcome and agenda
Our low gearing and substantial fixed interest rate hedging enable Vicinity to partially mitigate the impact of rising debt costs while at the same time, continue to invest in our long term growth initiatives. Slide 7: FY22 Financial Performance More specifically on our FY22 financial performance: S
Slide 6: Sustainability and closing remarks
And we continue to make good progress towards our net zero carbon target by 2030. Finally, we leveraged our strong sustainability credentials and investment in sustainability to date, by completing our first Green Bond, raising $300 million. The issuance was oversubscribed which was a further recogn
Slide 7: FY22 Financial Performance
CEO and Managing Director’s address Slide 9: Introduction Thank you Chairman, for those particularly kind words, and good morning everyone. It gives me great pleasure to address you – our valued securityholders – today. As Trevor highlighted, FY22 was a year of continued recovery and progress at Vic
Slide 8: CEO address: online retail and customer trends
Australia’s lack of urban density, compared to say, the United Kingdom, means that last mile delivery is costly for pure-play, online retail. Additionally, our customers come to our centres not only to purchase goods and services but for the experience, and most importantly to connect with people. B
Slide 9: CEO address: luxury and fresh food retail
Our growth in luxury stores has also placed LVMH into the top 10 largest retail groups across our portfolio. Despite the near term challenges associated with more people working-from-home, sophisticated retailers are seeking space in premium CBD malls for their flagship stores, and we are capturing
Slide 10: Summary and FY23 guidance
In summary, we have the right assets in the right locations, and with a number of projects now underway, we look forward to sharing more with you over the coming year. Slide 14: Summary and FY23 guidance In closing, our FY22 results highlighted strong operational and financial execution, in a recove
Slide 11: Contact details and About Vicinity Centres
ENDS For further information please contact: Jane Kenny Bec Nunn Acting Chief Corporate Affairs Officer Head of Stakeholder Communications T +61 3 7001 4291 T +61 3 7001 4545 E jane.kenny@vicinity.com.au E bec.nunn@vicinity.com.au About Vicinity Centres Vicinity Centres (Vicinity or the Group) is on
Slide 12: 2022 Annual General Meeting
2022 ANNUAL GENERAL MEETING 16 NOVEMBER 2022
Slide 13: Acknowledgement of Country
ACKNOWLEDGEMENT OF COUNTRY Vicinity Centres acknowledges the Traditional Custodians of Country throughout Australia and their connections to the land, sea and community. We pay our respects to their Elders past and present, and extend that respect to all Aboriginal and Torres Strait Islander people
Slide 14: Your Board
YOUR BOARD TREVOR GERBER GRANT KELLEY CLIVE APPLETON TIFFANY FULLER TIM HAMMON Chairman CEO and Managing Director Director Nominated Director Director MICHAEL HAWKER AM PETER KAHAN JANETTE KENDALL GEORGINA LYNCH DION WERBELOFF Nominated Director Director Director Nominated Director Nominated Directo
Slide 15: Chairman's Address
CHAIRMAN’S ADDRESS TREVOR GERBER
Slide 16: Welcome and Agenda
WELCOME AND AGENDA AGENDA TREVOR GERBER Chairman 04 09 16 Chairman’s address CEO and Managing Formal business of Director’s address the AGM GRANT KELLEY CEO and Managing Director Vicinity Centres | 2022 Annual General Meeting | 16 November 2022 5
Slide 17: FY22 Highlights
FY22 HIGHLIGHTS Results reflect strong execution and resilient retail sector, as focus shifts to future growth PORTFOLIO OUTCOMES STRENGTHENING 2H FY22 sales 15.5% above 2H FY19 (4.9% p.a.) Leasing spreads and occupancy rate continued to improve Cash collections improved to 91% for FY22 STRATEGIC TR
Slide 18: FY22 Financial Performance
FY22 FINANCIAL PERFORMANCE Net profit after tax Funds from operations (FFO) $1,215m +$1,473m $598m +7.1% − Supported by non-cash property − Supported by higher net property income valuation gains and FFO growth due to lower waivers and provisions, and growth in base rent and ancillary income Distrib
Slide 19: Leadership in Sustainability
LEADERSHIP IN SUSTAINABILITY Creating sustainable destinations within our communities and providing long-term value for securityholders Leveraged sustainability credentials and investment to date with successful issuance of Vicinity’s inaugural Green Bond Established Sustainable Finance Framework #6
Slide 20: CEO and Managing Director's Address
CEO AND MANAGING DIRECTOR’S ADDRESS GRANT KELLEY
Slide 21: Macroeconomic Environment
MACROECONOMIC ENVIRONMENT Macroeconomic fundamentals continue to support consumer spending despite near term uncertainty GROSS DISPOSABLE INCOME AND AUSTRALIAN RETAIL TRADE1 RESIDENTIAL DWELLING VALUES2 Annual growth, quarterly (%) Index: 2 May 2020 = 100 15 150 140 10 130 120 5 110 100 0 90 Retail
Slide 22: September 2022 Portfolio Performance
SEPTEMBER 2022 PORTFOLIO PERFORMANCE Quarterly sales growth (vs 2019) +21.2% Jun-22 qtr: +19.9% − Majors +15.5%, Mini Majors +33.2% and Specialties +23.7% − Reflects +6.6% annual growth Occupancy OCCUPANCY RATE rate Centre visitation 98.4% Jun-22: 98.3% 86% Jun-22 qtr: 84% − Marginal improvement acr
Slide 23: Vicinity Centres | 2022 Annual General Meeting | 16 November 2022
Vicinity Centres | 2022 Annual General Meeting | 16 November 2022 12
Slide 24: Development Pipeline
DEVELOPMENT PIPELINE CHADSTONE, VIC – THE SOCIAL QUARTER CHADSTONE, VIC – ONE MIDDLE ROAD OFFICE TOWER AND FRESH FOOD PRECINCT (ARTIST’S IMPRESSION) (ARTIST’S IMPRESSION) BOX HILL CENTRAL SOUTH , VIC – BANKSTOWN CENTRAL, NSW – COLES FRESH FOOD MALL COLES FRESH FOOD MALL Vicinity Centres | 2022 Annua
Slide 25: Summary and FY23 Guidance
SUMMARY AND FY23 GUIDANCE FY22 driven by strong operational execution and financial stewardship in a supportive retail environment FY22; A YEAR OF RECOVERY, EXECUTION AND PROGRESS AT VICINITY RETAIL CONTINUES TO DEMONSTRATE RESILIENCE AMID SHIFTING MACRO-ENVIRONMENT − Execution of long-term strategy
Slide 26: Contact Details and Disclaimer
CONTACT DETAILS AND DISCLAIMER FOR FURTHER INFORMATION PLEASE CONTACT: JANE KENNY TROY DAHMS Acting Chief Corporate Affairs Officer Senior Investor Relations Manager T +61 3 7001 4291 T +61 2 8229 7763 E jane.kenny@vicinity.com.au E troy.dahms@vicinity.com.au AUTHORISATION The Chairman of Vicinity C
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