Slide 1: FY2017 Financial Results
Cedar Woods Properties Limited For personal use only FY2017 Financial Results 22 August 2017
Slide 2: Cedar Woods' strategy
Cedar Woods Presentation | 2 Cedar Woods’ strategy For personal use only — Established in 4 states To grow and develop our — Good geographic spread, well located projects national project portfolio, Geography diversified by: — Residential land geography — Introducing medium density at Wooloowin &
Slide 3: Strategy delivering continued profit growth
Cedar Woods Presentation | 3 Strategy delivering continued profit growth For personal use only • NPAT consistent with FY17 FY16 Change guidance – Stronger second half as Net Profit after tax $45.4m $43.6m 4.2% expected Earnings per share 57.6 cents 55.3 cents 4.2% • Contributions across portfolio Di
Slide 4: Historical financial performance
Cedar Woods Presentation | 4 Historical financial performance A strong track record of consistent profitability and growth For personal use only Total Assets $m NPAT $m • Consistent growth in NPAT and dividends — Delivered year-on-year 60 NPAT growth since FY10 500 50 — Seventh consecutive record 40
Slide 5: Balance sheet strength and access to funding
Cedar Woods Presentation | 5 Balance sheet strength and access to funding For personal use only 30 June 30 June Gearing (%) 2017 2016 100.0 $m $m Total assets (book value) 505.6 452.7 80.0 Net bank debt 78.9 50.3 60.0 Net assets (equity) 330.2 307.2 Target Gearing Net bank debt to equity 23.9% 16.5%
Slide 6: Positioned for continued growth
Cedar Woods Presentation | 6 Positioned for continued growth For personal use only New projects contributing to revenue in coming years Project Life Project State Status (Years) Stage 1 completed, Stage 2 underway. Planning and Ellendale (1) QLD 9 rezoning for balance underway Wooloowin QLD 5 Planni
Slide 7: VIC portfolio update
Cedar Woods Presentation | 7 VIC portfolio update Williams Landing – multiple For personal use only 40KM projects progressing well including land, apartments and commercial 20KM CARLINGFORD Jackson Green – initial stages of BONNIE ST. A BROOK townhouses and Wattle LEVESON ROAD BANBURY VILLAGE ap
Slide 8: Williams Landing Town Centre
Cedar Woods Presentation | 8 Williams Landing Town Centre For personal use only Target head office artist impression Target HQ under construction 111 Overton Road strata Overton Road artist image office pre-sales underway Newton Apartments complete, Oxford underway Overton Road strata office a
Slide 9: Oxford Apartments
Cedar Woods Presentation | 9 Oxford Apartments For personal use only 97 apartments over 5 levels, 3 townhouses and 3 commercial units Mix of one and two bedroom product 90% sold Construction commenced April 2017 Settlement anticipated May 2018 (stage 1) and December 2018 (stage 2) June 201
Slide 10: St A townhouses
Cedar Woods Presentation | 10 St A townhouses Artist impression For personal use only Masterplan includes approximately 200 townhouses and 50 apartments Stage 1-5 civil construction complete August 2017 Stage 6 townhouses construction commenced August 2017 Sales to the end of July 2017 – 126
Slide 11: Jackson Green construction
Cedar Woods Presentation | 11 Jackson Green construction For personal use only Masterplan includes 450 dwellings, combination of townhouses and apartments Stage 6-9 civil works due for completion in November 2017 Stage 1 townhouse construction commenced January 2017 Sales to the end of July
Slide 12: Jackson Green – Wattle Apartment construction
Cedar Woods Presentation | 12 Jackson Green – Wattle Apartment construction For personal use only 60 apartments over 4 levels Mix of one and two bedroom product 100% sold Construction commenced May 2017 Settlement anticipated June 2018 August 2017 June 2017
Slide 13: QLD portfolio update
Cedar Woods Presentation | 13 QLD portfolio update For personal use only Two projects to date in Queensland Moreton Bay CARSELDINE portfolio ELLENDALE Ellendale: 13km west of Brisbane CBD WOOLOOWIN 480 lots approved on 1/3 of site BRISBANE CBD Wooloowin: 5km north of Brisbane CBD 5KM Around
Slide 14: Ellendale
Cedar Woods Presentation | 14 Ellendale For personal use only Stage 1 completed Stage 2 construction underway Builders’ display village construction has commenced, opening mid FY18 Rezoning of the balance of the 160ha is underway with finalisation expected in FY18
Slide 15: Wooloowin
Cedar Woods Presentation | 15 Wooloowin For personal use only Approvals anticipated H1 FY18 Planning for 279 medium density dwellings Construction scheduled to commence H2 FY18
Slide 16: WA portfolio update
Cedar Woods Presentation | 16 WA portfolio update 40KM For personal use only Successful launch of 20KM ARIELLA PRIVATE ESTATE Bushmead, stage 1 completed 10KM BUSHMEAD 5KM Launch of Millars Landing and PERTH Karmara in H1 FY18 CBD HARRISDALE GREEN Construction of new stages at KARMARA several
Slide 17: Bushmead
Cedar Woods Presentation | 17 Bushmead For personal use only 273ha, expected to yield approx 1,000 lots 8 year project 15kms east of Perth CBD Stage 1 – 87 lots, 85% sold Stage 2 released
Slide 18: Millars Landing
Cedar Woods Presentation | 18 Millars Landing For personal use only 119 ha to yield approx. 1580 lots Construction works underway Sales release in coming months February 2017
Slide 19: SA portfolio update
Cedar Woods Presentation | 19 SA portfolio update For personal use only MAWSON LAKES Glenside site works underway June 2017 PORT ADELAIDE Glenside approvals progressing and enquiry is increasing ADELAIDE Port Adelaide acquisition CBD approved by SA Cabinet, contract St Vincent Gulf GLENSIDE pr
Slide 20: Glenside
Cedar Woods Presentation | 20 Glenside For personal use only Heritage – Elms Building 16ha site, 3kms from Bird box installation Adelaide CBD Planning for 1,000 apartments and townhouses Site works underway Demolition of the Rural & Remote building in Stage 1 of the development
Slide 21: Market conditions
Cedar Woods Presentation | 21 Market conditions For personal use only Historically low interest rates and continued population growth supporting solid state fundamentals. Demographics Population GDP growth Employment driving strong growth robust2 stable3 capital city continuing 1 growth4 – Solid sal
Slide 22: Cedar Woods operating in affordable markets
Cedar Woods Presentation | 22 Cedar Woods operating in affordable markets For personal use only No. Of Incomes Per Household To Meet Brisbane, Adelaide and Perth Mortgage Repayments are all affordable 2.15 1.95 1.75 Melbourne has housing 1.55 1.35 product priced in the 1.15 affordable bracket, b
Slide 23: Management and Board
Cedar Woods Presentation | 23 Management and Board For personal use only Since 30 June, Cedar Woods has made two important appointments Nathan Blackburne – appointed Managing Director (effective 18th September 2017) 24 years in property, with broad experience; 15 years with Cedar Woods Has overs
Slide 24: Management and Board
Cedar Woods Presentation | 24 Management and Board For personal use only Mrs Jane Muirsmith – appointed Independent Non- Executive Director (effective 2nd October 2017) A Fellow of Chartered Accountants Australia and New Zealand, graduate of the Australian Institute of Company Directors Experien
Slide 25: Diversification strategy underpinning results
Cedar Woods Presentation | 25 Diversification strategy underpinning results Positive outlook underpinned by strong pre-sales of For personal use only $260 million, up 41% on last year ($184m) Grow and Development program is on track, backed by develop our national project continued strong pre-sa
Slide 26: For personal use only
For personal use only 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: email@cedarwoods.com.au E: melbourne@cedarwoods.com.au Brisbane Office Adelaide Office Level 6, 12 Creek Street Le