Dexus · ASX:DXS
Dexus — DB RREEF Trust — Shareholder Meeting (October 2007)
46 slides from Dexus's shareholder meeting presentation, Oct 31, 2007
Slide 1: DB RREEF Annual General Meeting 2007
DB RREEF Annual General Meeting 2007
Slide 2: Welcome & introduction to Board Members
Welcome & introduction to Board Members Christopher Beare Chairman, DB RREEF
Slide 3: Elizabeth Alexander AM
Elizabeth Alexander AM ln DB RREEF Managed in partnership with Deutsche Bank
Slide 4: Barry Brownjohn
ln DB RREEF Managed in partnership with Deutsche Bank
Slide 5: Stewart Ewen OAM
Stewart Ewen OAM ln DB RREEF Managed in partnership with Deutsche Bank
Slide 6: Victor Hoog Antink - CEO
Victor Hoog Antink - CEO ln DB RREEF Managed in partnership with Deutsche Bank
Slide 7: Andrew Fay (Alternate) Charles Leitner III
Andrew Fay (Alternate) Charles Leitner III 7
Slide 8: Brian Scullin
Brian Scullin ln mad RREEF lanaged in partnership h Deutsche Bank k
Slide 9: DB RREEF Board
DB RREEF Board Christopher Beare - Chairman Elizabeth Alexander AM Barry Brownjohn Stewart Ewen OAM Victor Hoog Antink - CEO Charles Leitner III Andrew Fay* Brian Scullin * Alternate to Charles Leitner III 9
Slide 10: DB RREEF Annual General Meeting 2007
DB RREEF Annual General Meeting 2007
Slide 11: Chairman's address
Chairman’s address Christopher Beare Chairman, DB RREEF
Slide 12: Financial performance
Financial performance 30 June 06 30 June 07 AIFRS operating profit $1066.4m $1210.8m 13.5% Property revenues $663.0m $693.0m 4.5% Revaluations $695.7m $864.6m 10.8% NTA $1.53 $1.82 19.0% DPS 11.0cps 11.3cps 2.7% 12
Slide 13: Security holder 1 year total returns
Security holder 1 year total returns 150 150 DRT 140 140 130 130 120 120 110 110 100 100 90 90 Jun-06 Sep-06 Dec-06 Feb-07 May-07 DRT return = 42.6 % UBS Diversified 200 Accum. Index = 28.0% S&P/ASX 200 (GICS) Property Accum. Index = 25.9% 13
Slide 14: Sustainability track record
Sustainability track record
Slide 15: Corporate Governance
Corporate Governance LER = : DB RREEF Managed in partnership with Deutsche Bank
Slide 16: Chairman's address
Chairman’s address Christopher Beare Chairman, DB RREEF
Slide 17: CEO's address
CEO’s address Victor Hoog Antink CEO, DB RREEF
Slide 18: DB RREEF group diversification
DB RREEF group diversification DB RREEF Trust assets DB RREEF Total Managed Funds Cash/ Cash/ Industrial Retail other 3% other 2% (Aust) 16% (Aust) 3% Industrial Retail (Aust) 21% (Aust) 23% Industrial (US) 13% Office (Aust/NZ) $8.5bn $14.0bn 47% Industrial (Europe) 3% Industrial Office Industrial (
Slide 19: Full year highlights: Delivering on strategy
Full year highlights Delivering on strategy – delivering on strategy Building on strength in office & industrial 6th largest LPT in Australia Maintained strong occupancy levels: 96.7% International expansion: $1.0bn Development pipeline: $2.2bn Net profit $1.2bn, up 13.5% Gearing appro
Slide 20: Security holder returns 3 years - since stapling
Security holder returns 3 years - since stapling 200 200 DRT 180 180 160 160 140 140 120 120 100 100 80 80 Oct-04 Dec-04 Mar-05 Jun-05 Aug-05 Nov-05 Jan-06 Apr-06 Jul-06 Sep-06 Dec-06 Mar-07 May-07 Aug-07 DRT return = 24.0 % p.a UBS Diversified 200 Accum. Index = 19.0% p.a S&P/ASX 200 (GICS) Propert
Slide 21: Office: highlights
Office: highlights Total asset value $4bn Number of properties 29 Premium & A grade by value 86% Occupancy by area 99.0% Average lease duration by income 6.2 yrs Development pipeline $1bn Governor Phillip Tower & Governor Macquarie Tower Complex, Sydney NSW 21
Slide 22: Space 1 Bligh
Space 1 Bligh World-leading design, innovation, technology & sustainability − 42,000sqm – Sydney CBD − Panoramic views of Sydney Harbour − Leading example of workplace design − 5 Star ABGR, 6 Star Green Star − Australia’s first double-skin facade − Black water recycling, rainwater for irrigation −
Slide 23: Space Bligh DVD
space 1 BLIGH =» SYDNEY TL DB RREEF lanaged in partnership with Deutsche Bank
Slide 24: 123 Albert Street, Brisbane
123 Albert Street, Brisbane Premium Grade office tower − 38,000sqm – Brisbane CBD Sustainable design − 5 Star ABGR, 6 Star Green Star − Chilled beam air-conditioning − Rainwater recycling − High performance glass façade to reduce sun glare − Environmentally-friendly building materials Artist’s i
Slide 25: Industrial: highlights
Industrial: highlights Total asset value $3.9bn Net property income $236m Number of properties 162 Occupancy by area 94.3% Average lease duration by income 4.0 yrs Development pipeline $1.0bn Pound Road, West Dandenong VIC 30 June figures adjusted for the CalWest acquisition and San Anto
Slide 26: Summit Oaks, Valencia CA
Summit Oaks, Valencia CA DB RREEF 26 Managed in partnership with Deutsche Bank
Slide 27: Interchange Parkway, San Antonio, Texas
Interchange Parkway, San Antonio, Texas 27
Slide 28: Unna, Germany
28 7 DB RREEF Managed in partnership with Deutsche Bank
Slide 29: Whirlpool Investment program
Whirlpool Investment program 11 state-of-the-art distribution facilities Florida acquired, US$25m Toronto due Jan 08, US$72m 4 developments approved: – to be completed next 18 months – total cost: US$379m Facilities to be acquired by DB RREEF Trust 2009 to 2010 – Site selection well advanc
Slide 30: Retail: highlights
Retail: highlights Finalised strategic disposal of 50% interest in 5 retail centres to DWPF: – Westfield North Lakes QLD – Westfield Hurstville NSW – Westfield Mt Druitt NSW – Westfield West Lakes SA – Plenty Valley Town Centre VIC Disposal reflects strategic decision to: – focus on strengths in
Slide 31: Third party funds under management
Third party funds under management Jun 06 Jun 07 Oct 07* ($bn) ($bn) ($bn) DWPF 1.8 2.0 2.9 Mandates (AXA & STC) 1.9 2.4 2.4 Syndicates 0.2 0.2 0.2 TOTAL 3.9 4.6 5.5 360 Collins Street, Melbourne VIC * 30 June figures adjusted for the retail acquisition. 31
Slide 32: Our CR&S achievements
Our CR&S achievements Market leader in sustainability Decade of sustainability practices Future proofing portfolio Principles for Fair Contracting Achieved 2nd FTSE4Good index rating CR&S report aligned to UN Global Reporting Initiative (G3) DB RREEF’s Corporate Responsibility & Sustaina
Slide 33: Integrated platform
Integrated platform Increase returns Quality workspace Maximise returns Customised solutions Managing risk Proactive management Tenants Investors 5000+ 25000+ Creating new investment opportunities Sustainability features Properties 260 $14.0bn Employees 235 Preferred employer Rew
Slide 34: 2008 outlook & growth strategy
2008 outlook & growth strategy Diversified and integrated business – strong platform for growth Build on our strengths in office and industrial Operate across more of the value chain as Owner, Manager, Developer Expand this locally & internationally – Acquisitions – Developments – Partnershi
Slide 35: General discussion and questions
General discussion and questions
Slide 36: Resolutions
Resolutions Christopher Beare Chairman, DB RREEF
Slide 37: Resolution 1: approval of independent Director
Resolution 1: approval of independent Director “That the appointment of Mr Stuart Ewen as an Independent Director of DRFM be ratified” 37
Slide 38: Resolution 1: approval of independent Director
Resolution 1: approval of independent Director Proxies held by the Chairman of the meeting For 1,577,934,956 Open 15,184,392 Against 27,109,815 Total proxies 1,620,229,163 38
Slide 39: Voting for Resolution 1
7 aun warn) ‘a oe ww DB RREEF M aged in partnership with Deutsche Bank a
Slide 40: DB RREEF Annual General Meeting 2007
DB RREEF Annual General Meeting 2007
Slide 41: Resolution 2: Adoption of Remuneration Report
Resolution 2: Adoption of Remuneration Report “That the Remuneration Report for the financial year ended 30 June 2007 be adopted” (Please note that the vote on this item is advisory only and does not bind the directors or DRFM.) 41
Slide 42: Resolution 2: Adoption of Remuneration Report
Resolution 2: Adoption of Remuneration Report Proxies held by the Chairman of the meeting For 1,423,309,324 Open 15,369,679 Against 112,486,400 Total proxies 1,551,165,403 42
Slide 43: Voting for Resolution 2
7 aun warn) ‘a oe ww DB RREEF M aged in partnership with Deutsche Bank a
Slide 44: DB RREEF Annual General Meeting 2007
DB RREEF Annual General Meeting 2007
Slide 45: Important information
Important information This presentation is issued by DB RREEF Funds Management Limited (DRFM) in its capacity as responsible entity of DRT. It is not an offer of securities for subscription or sale and is not financial product advice. Information in this presentation including, without limitation, a
Slide 46: Thank you for attending
DB RREEF Managed in partnership with Deutsche Bank