Cvc Limited · ASX:CVC
Cvc — FY2022 Earnings Presentation
19 slides from Cvc's earnings presentation, Aug 24, 2022
Slide 1: Annual Results Presentation
ASX:CVC Annual Results Presentation FINANCIAL YEAR ENDED 30 JUNE 2022 24 AUGUST | 2022
Slide 2: Disclaimer
Disclaimer IMPORTANT NOTICE FINANCIAL AMOUNTS This Presentation (as amended) (Presentation) has been prepared and issued by CVC Limited ACN 002 700 361 All dollar values are in Australian Dollars (A$) and financial data is presented as at the date of this presentation (CVC). unless stated otherwise.
Slide 3: CVC Limited – Ethos
CVC Limited – Ethos 1 July 2021 – 30 June 2022 CVC Limited is an ASX listed investment company with a strong focus on deploying capital into real estate opportunities Relationships and Perspective Our approach to CVC seeks to invest in We pride ourselves on building investment great people and prote
Slide 4: CVC Results Summary
CVC Results Summary 1 July 2021 – 30 June 2022
Slide 5: CVC Limited – FY 2022 Results
CVC LIMITED – FY 2022 RESULTS 1 July 2021 – 30 June 2022 • Net profit after tax of $12.9m (2021: $28.0m) • Net profit after tax attributable to shareholders $6.1m (2021: $19.5m) • Total fully franked dividends paid relating to the period of 9 cents per share (including final dividend paid on 18 Augu
Slide 6: Overview of CVC Portfolio – June 2022
OVERVIEW OF CVC PORTFOLIO – 30 JUNE 2022 Direct Property • Relates to direct exposure, including in ordinary equity, preference equity, joint ventures and options to acquire an interest in direct property subject to planning outcomes 74% • Since 2010 we have deployed in excess of $330m of equity cap
Slide 7: Business Focus
CVC – BUSINESS FOCUS 1 July 2021 – 30 June 2022 Status of Business – Key Themes 2022 2022 2021 • Reduction in number of investments SEGMENT INVESTMENT ALLOCATION Adjusted Statutory Statutory % % % – Objective to increase minimum investment size to >$5m to align with strategy of high conviction inves
Slide 8: CVC Segment Reporting
CVC Segment Reporting 1 July 2021 – 30 June 2022
Slide 9: CVC – Property Investments
CVC – PROPERTY INVESTMENTS 1 July 2021 – 30 June 2022 Direct Property Investments KEY INVESTMENT POSITIONS STATUTORY EQUITY VALUE IMPACT OF VALUATION Investment Thematic (JUN -22)^ ASSESSMENT* • Understand downside risk and seek capital protection in positions Heathcote Road, Liverpool, NSW (66%) –
Slide 10: Selected Investments – Direct Property Investments
CVC – PROPERTY INVESTMENTS 1 July 2021 – 30 June 2022 Selected Investments – Direct Property Investments Donnybrook Road, Donnybrook, VIC • Purchased two sites in 2015 and 2016 in joint venture with Villa World Limited (now Avid Property Group) for $22.8m (CVC ownership 49%) • Sought rezoning to all
Slide 11: Selected Investments – Direct Property Investments
CVC – PROPERTY INVESTMENTS 1 July 2021 – 30 June 2022 Selected Investments – Direct Property Investments Lake Orr Drive, Burleigh Waters, QLD • Contracted to purchase 5.4Ha of development land in Gold Coast for $45m (CVC 50% in partnership with private developer) in March 2022 • Settlement payable i
Slide 12: Selected Investments – Direct Property Investments
CVC – PROPERTY INVESTMENTS 1 July 2021 – 30 June 2022 Selected Investments – Direct Property Investments Pumicestone Road, Caboolture, QLD • Purchased 15Ha site in 2015 for $5.35m (60% CVC) • Completed Ampol anchored travel centre and McDonalds store • Bunnings Warehouse currently under development
Slide 13: Selected Property Backed Lending Investments
CVC – PROPERTY INVESTMENTS 1 July 2021 – 30 June 2022 Selected Property Backed Lending Investments Investment Thematic DEBT TYPE TYPICAL LVR RANGES • Registered mortgages over real estate assets with guarantees from Borrowers have been a strong performing segment for CVC Senior 0-65% • Flexibility i
Slide 14: Selected Property Backed Lending Investments
CVC – PROPERTY INVESTMENTS 1 July 2021 – 30 June 2022 Selected Property Backed Lending Investments Collingwood, VIC • Registered 2nd mortgage investment in a 35 apartment and retail development • Owner occupier market with majority of project presold • Low supply of this product in this location • P
Slide 15: CVC – Non-Property Investments
CVC – NON-PROPERTY INVESTMENTS 1 July 2021 – 30 June 2022 Investment Thematic • Focus on small number of concentrated investments • Recognition that this segment will remain a smaller part of business operations STATUTORY NON PROPERTY INVESTMENT / POSITIONS EQUITY VALUE than it has in the past withi
Slide 16: CVC Outlook
CVC Outlook 1 July 2021 – 30 June 2022
Slide 17: Outlook – Objectives
OUTLOOK – OBJECTIVES 1 July 2021 – 30 June 2022 Objectives – Property Investment Direct Property Investment CVC is well positioned to • Progress Liverpool planning to advance mixed use approval and to be in a position to exercise perform strongly in the option in June 2023 and subsequently settle th
Slide 18: FY23 Outlook
CVC – FY23 Outlook Forecast Performance • The composition of the investment portfolio of CVC does not allow meaningful performance forecasting • Portfolio of major direct property investments have potential to add material value as advancements are made through planning processes • Other direct prop
Slide 19: Contact Details
Contact Details Suite 40.04 Level 40 Governor Phillip Tower 1 Farrer Place Sydney NSW 2000 P (02) 9087 8000 W www.cvc.com.au