Cedar Woods Properties Limited · ASX:CWP
Cedar Woods Properties — Shareholder Meeting (November 2016)
30 slides from Cedar Woods Properties's shareholder meeting presentation, Nov 10, 2016
Slide 1: 2016 Annual General Meeting
Cedar Woods Presentation | 1 Cedar Woods Properties Limited For personal use only 2016 Annual General Meeting 10 November 2016
Slide 2: Agenda
Cedar Woods Presentation | 2 Agenda For personal use only 1 Chairman’s Address Mr William Hames 2 Managing Director’s Review Mr Paul Sadleir 3 Formal Business • Ordinary Business: Consideration of financial report • Ordinary Resolution 1: Re-election of retiring director Robert Stanley Brown • Ordin
Slide 3: Chairman's Address
Cedar Woods Presentation | 3 Chairman’s Address For personal use only Chairman Mr William Hames
Slide 4: FY2016 Financial Performance Summary
Cedar Woods Presentation | 4 FY2016 Financial Performance Summary For personal use only FY16 FY15 Change Revenue $176m $179m 1.7% Net profit after tax $43.6m $42.6m 2.4% Earnings per share 55.3 cents 54.3 cents 1.8% Dividends per share, 100% franked 28.5 cents 28.0 cents 1.8% Highlights for FY2016 •
Slide 5: Track Record of Growth and Low Gearing
Cedar Woods Presentation | 5 Track Record of Growth and Low Gearing For personal use only 100 NPAT ($m) / Total Dividend (cents per 80 share) 60 42.6 43.6 Target 40.3 Gearing 36.3 25 – 75% 34.3 40 27.5 28 28.5 26 25 20 21.1 12.5 35.6 9.8 25.9 16.5 0 FY12 FY13 FY14 FY15 FY16 Dec 13 Jun 14 Dec 14 Jun
Slide 6: Corporate Governance
Cedar Woods Presentation | 6 Corporate Governance For personal use only • Independent NED Ms Valerie Davies appointment has strengthened the Board • Feedback from investors and proxy advisors on recent corporate governance improvements has been positive • Proxy advisors supporting all 2016 AGM share
Slide 7: Agenda
Cedar Woods Presentation | 7 Agenda For personal use only 1 Chairman’s Address Mr William Hames 2 Managing Director’s Review Mr Paul Sadleir 3 Formal Business • Ordinary Business: Consideration of financial report • Ordinary Resolution 1: Re-election of retiring director • Ordinary Resolution 2: Re-
Slide 8: Managing Director's Review
Cedar Woods Presentation | 8 Managing Director’s Review For personal use only Managing Director Mr Paul Sadleir
Slide 9: Strong Property Portfolio and Mature Land Bank
Cedar Woods Presentation | 9 Strong Property Portfolio and Mature Land Bank For personal use only
Slide 10: Project Life
Cedar Woods Presentation | 10 Project Life For personal use only
Slide 11: Portfolio Overview
Cedar Woods Presentation | 11 Portfolio Overview For personal use only • Commenced sales and development at Ellendale (Upper Kedron) in Queensland • Strengthened our presence in South Australia with preferred proponent status on a second high quality infill project at Port Adelaide • Successful laun
Slide 12: Ellendale (Upper Kedron)
Cedar Woods Presentation | 12 Ellendale (Upper Kedron) For personal use only • Ellendale – a 227 hectare master- planned community just 12km from Brisbane CBD • State Government approval for first 480 lots received in July 2015 • Acknowledgement by Queensland Government that 160 hectare balance of t
Slide 13: Wooloowin
Cedar Woods Presentation | 13 Wooloowin For personal use only • 3.81 hectare site, 6 km north of the Brisbane CBD, train stations nearby • Site has current approval for 279 residential dwellings up to eight storeys • CWP is revising the masterplan to provide an integrated housing development, compri
Slide 14: Glenside
Cedar Woods Presentation | 14 Glenside For personal use only • 16.5 hectare site just 3km south-east of Adelaide CBD • Masterplan of 1000 apartments and townhouses • Rezoning underway, expected to be approved in mid FY17 GLENSIDE • Settlement conditional upon rezoning
Slide 15: Port Adelaide
Cedar Woods Presentation | 15 Port Adelaide For personal use only PORT ADELAIDE • 12.6 hectare site 14km north- west of Adelaide CBD • Cedar Woods is preferred proponent to purchase the site, subject to due diligence • Masterplan of 500 townhouses and apartments
Slide 16: Williams Landing
Cedar Woods Presentation | 16 Williams Landing • Over 70% of targeted FY2017 presales achieved For personal use only WILLIAMS LANDING • Strong price growth on residential lots achieved in recent releases • Addison neighbourhood to include increasing density as development progresses closer to town c
Slide 17: Jackson Green
Cedar Woods Presentation | 17 Jackson Green For personal use only • 350 dwellings on 6.5ha site 20 km south-east of Melbourne • First five stages, comprising 85 homes, sold out & construction underway • Wattle Apartments recently launched • First settlements anticipated in FY2018
Slide 18: St Albans
Cedar Woods Presentation | 18 St A For personal use only • Approximately 250 dwellings on a 6.8ha site in Melbourne’s north-west • Strong sales momentum with first four stages sold • 10% growth in St Albans suburb median price in FY16 • Four-year staged project, civil construction underway • First s
Slide 19: Bushmead
Cedar Woods Presentation | 19 Bushmead For personal use only • 273ha site, 15km from Perth CBD, expected to yield approximately 935 lots • First two releases largely sold, third release brought forward • Construction of stage one (87 lots) underway with settlements expected in April 2017
Slide 20: North Baldivis
Cedar Woods Presentation | 20 North Baldivis For personal use only • Purchase of 50.74 hectares at North Baldivis in early August 2015 • Site adjoins company’s existing 68 hectare holding • Combined property will allow master-planned development of approximately 1580 lots • Construction planned Q3 F
Slide 21: Company Outlook
Cedar Woods Presentation | 21 Company Outlook For personal use only • Presales of $230 million, mainly settling in FY2017, up from $184m this time last year • Strong balance sheet with debt at a low level • FY2017 result expected to be similar to that achieved in FY2016 • Significantly lower first h
Slide 22: Agenda
Cedar Woods Presentation | 22 Agenda For personal use only 1 Chairman’s Address Mr William Hames 2 Managing Director’s Review Mr Paul Sadleir 3 Formal Business • Ordinary Business: Consideration of financial report • Ordinary Resolution 1: Re-election of retiring director • Ordinary Resolution 2: Re
Slide 23: 1. Ordinary Business
Cedar Woods Presentation | 23 1. Ordinary Business For personal use only To receive and consider the financial statements for the year ended 30th June 2016 and the accompanying directors’ report, directors’ declaration and auditor’s report.
Slide 24: 2. Ordinary Resolution: Re-election of retiring director
Cedar Woods Presentation | 24 2. Ordinary Resolution 1 For personal use only Re-election of retiring director That Robert Stanley Brown, MAICD, AIFS, having retired in accordance with the company’s constitution and, being eligible, offers himself for re-election, be re-elected as a director of the c
Slide 25: 3. Ordinary Resolution: Re-election of retiring director
Cedar Woods Presentation | 25 3. Ordinary Resolution 2 For personal use only Re-election of retiring director That Ronald Packer, BCom (UWA), FAICD, Solicitor Supreme Court of England and Wales, having retired in accordance with the company’s constitution and, being eligible, offers himself for re-e
Slide 26: 4. Ordinary Resolution: Remuneration Report
Cedar Woods Presentation | 26 4. Ordinary Resolution 3 For personal use only Remuneration Report That the remuneration report that forms part of the directors’ report for the financial year ended 30 June 2016, be adopted. Summary of 239 proxy votes received totaling 27,402,998 shares # % For 26,833,
Slide 27: 5. Ordinary Resolution: Performance Rights
Cedar Woods Presentation | 27 5. Ordinary Resolution 4 For personal use only Approval for the issue of Performance Rights under the LTI Plan to Mr Paul Sadleir or his nominee That, for the purposes of Listing Rule 10.14, Chapter 2E of the Corporations Act and for all other purposes, Shareholders aut
Slide 28: Agenda
Cedar Woods Presentation | 28 Agenda For personal use only 1 Chairman’s Address Mr William Hames 2 Managing Director’s Review Mr Paul Sadleir 3 Formal Business • Ordinary Business: Consideration of financial report • Ordinary Resolution 1: Re-election of retiring director • Ordinary Resolution 2: Re
Slide 29: Office contact details
Cedar Woods Presentation | 29 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 Offi
Slide 30: Disclaimer
Cedar Woods Presentation | 30 Disclaimer For personal use only Disclaimer of liability While every effort is made to provide complete and accurate information, Cedar Woods Properties Limited does not warrant or represent that the information in this presentation is free from errors or omissions or i
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