Slide 1: Scentre Group reports full year operating profit for 2020 of $763.4 million
ASX Announcement 24 February 2021 SCENTRE GROUP REPORTS FULL YEAR OPERATING PROFIT FOR 2020 OF $763.4 MILLION NET OPERATING CASHFLOW IMPROVES 96% IN SECOND HALF OF 2020 For personal use only Scentre Group (ASX: SCG) today released its results for the 12 months to 31 December 2020 with Operating Prof
Slide 2: ASX Announcement (continued)
“We did not receive any financial support from the Australian or New Zealand governments, including the JobKeeper program. We led the industry in the development of the Code of Conduct, supporting small to medium sized businesses across the sector.” Demand for space across Westfield Living Centres r
Slide 3: Full Year Results 2020
For personal use only Full Year Results 2020 Westfield Doncaster, VIC
Slide 4: Full Year Results
Full Year Results For personal use only 31 December 2020 6 months to 6 months to 12 months to $million 30 Jun 2020 31 Dec 2020 Growth % 31 Dec 2020 Operating Profit $360.8 $402.6 11.6% $763.4 Cents per security 6.94c 7.76c 14.71c Funds From Operations (FFO) $361.9 $404.2 11.7% $766.1 Cents per secur
Slide 5: Full Year Overview
Full Year Overview For personal use only Every Westfield Living Centre remained open, every day Strategic Capital Management actions, strengthening our financial - 450 million customer visits, spending $22 billion with our retail position and preserving securityholder value partners This included ne
Slide 6: Scentre Group Overview
Scentre Group Overview For personal use only Our Purpose Creating extraordinary places, connecting and enriching communities Extraordinary platform of 42 Living Centres Our Plan Customer centric strategy, focused on delivering what the customers want We will create the places more people choose to c
Slide 7: Strategic Locations
Strategic Locations For personal use only The strategic locations of our portfolio enables retail and brand partners to efficiently connect with more customers 20 million people live within close proximity to a Westfield Living Centre Brisbane 6 CENTRES Australia & Sydne New Zealand Portfolio y Pert
Slide 8: Customer Visits
Customer Visits For personal use only More than 37 million customer visits on average per month, spending close to one and half hours of their time in our centres each visit 60m Customer Dwell Time Q4: Average of 46 million customer visits per month ~1.5 Hours 50m 40m 30m 20m 10m 45m 51m 34m 16m 26m
Slide 9: Customer Initiatives
Customer Initiatives For personal use only Enhancing Customer “tbd” Engagement PETER ALLEN CEO We are giving customers more reasons to engage, more often and for longer We’re evolving the Westfield ecosystem – creating more opportunities for interaction between Scentre Group, our customers, retailer
Slide 10: Westfield Plus
Westfield Plus Scan to Join Introducing Westfield Plus For personal use only Our membership program. Designed to drive value for our customers by removing friction in centre, personalising communications and rewarding engaged members with exclusive benefits Now live in all 42 Westfield Living Centre
Slide 11: Aggregating Click & Collect
Aggregating Click & Collect For personal use only We trialed a number of initiatives, such as aggregated Click & Collect that facilitated our retail partners connecting with customers during periods of Government restrictions. The learnings form the basis for strategic initiatives we are pursuing Re
Slide 12: Retailer Activity
Retailer Activity For personal use only Leasing Activity COVID Activity1 Portfolio Leased 98.5% Agreed - SME retailers (Code) 2,456 Lease Deals Number – Total Deals 2,625 To be agreed - SME retailers (Code) 144 Lease Deals Number – New Merchants 848 Agreed - other retailers 942 Lease Deals Area (sqm
Slide 13: Gross Rent Cash Collections
Gross Rent Cash Collections For personal use only The Group collected $2,059 million in gross rent collections, including $641 million during Q4 2020, equivalent to 100% of gross billings 1st Half 2020: 70% or $0.9 billion 2nd Half 2020: 93% or $1.2 billion 120% 111% 100% 94% 94% 96% 93% 86% 88% 80%
Slide 14: We are a Responsible, Sustainable Business
We are a Responsible, Sustainable Business For personal use only Community People Environment Economic Connecting and enriching We will be the place for talent to Net zero emissions by 20301 We will deliver long term sustainable communities thrive returns through economic cycles – All Westfield Livi
Slide 15: Operating Profit and FFO
Operating Profit and FFO For personal use only 6 months to 6 months to 12 months to 12 months to $m 30 Jun 2020 31 Dec 2020 31 Dec 2020 31 Dec 20192 Property revenue 1,146.1 1,128.5 2,274.6 2,455.3 Property expenses (249.4) (255.1) (504.5) (529.8) Net Operating Income 896.7 873.4 1,770.1 1,925.5 Man
Slide 16: Financial Position
Financial Position For personal use only Balance Sheet $m 31 Dec 2020 31 Dec 2019 Total Assets1 35,296.7 39,096.2 Borrowings2 (9,253.8) (12,902.3) Other (2,326.2) (1,957.0) Minority Interest (778.7) (898.3) Subordinated Notes3 (4,109.6) - Net Assets - attributable to ordinary securityholders 18,828.
Slide 17: Funding
Funding For personal use only 31 December 2020 Funding Borrowings $9.3bn 3.1x $6.9bn Gearing 27.7% Interest Cover Liquidity Weighted average debt maturity 4.6 years Subordinated notes $4.1bn Liquidity Weighted average interest rate1 $6.9bn 4.4% 12.0% 71% Interest rate exposure hedged percentage 71%
Slide 18: Funding
Funding For personal use only Available liquidity of $6.9 billion, sufficient to cover all debt maturities to early 2024 Debt Maturity Profile1 % $bn $ billion Senior Bonds 4.5 USD 25% 5.0 EUR 19% 3.9 4.0 GBP 7% 1.5 3.5 AUD 2% 0.4 3.0 HKD 1% 0.1 2.5 Total 54% 10.9 2.0 Bank Facilities 1.5 Drawn 5% 1.
Slide 19: Outlook
Outlook For personal use only - Scentre Group is well positioned to deliver long-term growth for “We remain customer securityholders obsessed and focused on delivering what the - Subject to no material change in conditions, the Group expects to distribute customer wants. We will at least 14.00 cents
Slide 20: Appendices
Appendices For personal use only Westfield Bondi Junction, NSW
Slide 21: Development Activity
Development Activity For personal use only Total Completion Project Cost SCG Share $m $m Completed Projects Doncaster 30 15 2 Nov 2020 Carindale 50 16 10 Sep 2020 Active Projects Mt Druitt 55 28 Q4 2021 Total Projects 135 59 Target returns from development of greater than 7% yield and greater than 1
Slide 22: Future Retail Developments
Future Retail Developments For personal use only Albany (NZ) > $3bn 1 2 Barangaroo (NSW) Future Retail Developments 3 Booragoon (WA) 4 Doncaster (VIC) 5 Eastgardens (NSW) 6 Knox (VIC) 7 Liverpool (NSW) 8 Marion (SA) 1 10 3 9 9 Sydney (NSW) 8 7 2 5 10 Warringah Mall (NSW) 4 6 In addition, the Group h
Slide 23: Retailer In-Store Sales
Retailer In-Store Sales For personal use only Like-for-like in-store sales Total in-store sales were up 2.7% for the 2 months to Specialty 2 months to 3 months to 12 Months to December and 3.5% lower for the year Sales by Region 31 Dec 20201 31 Dec 20202 31 Dec 20203 NSW (3.3%) (4.1%) (6.7%) Special
Slide 24: Profit & FFO
Profit & FFO For personal use only Statutory Profit FFO Financial Reconciliation from Profit to FFO 12 months to FFO 12 months to Statement $m 31 Dec 2020 Adjustments1 31 Dec 2020 Notes A B C=A+B 1. The Group’s measure of FFO is based upon the Property revenue2 2,206.0 68.6 2,274.6 Note 2(iii) Natio
Slide 25: Cash Flow
Cash Flow For personal use only Cash flows from operating activities – proportionate Equity 12 months to 6 months to 6 months to $m Consolidated Accounted 31 Dec 2020 30 Jun 2020 31 Dec 2020 Receipts in the course of operations (including GST) 2,136.0 220.9 2,356.9 1,059.4 1,297.5 Payments in the co
Slide 26: Balance Sheet
Balance Sheet For personal use only Balance Sheet – Proportionate1 Equity Debt $m Consolidated Accounted 31 Dec 2020 Reclassification 31 Dec 2020 A B C = A +B Cash 378.1 26.7 404.8 (404.8) — 1. Period end AUD/NZD exchange rate Short term deposits at bank 2,222.8 — 2,222.8 (2,222.8) — 1.0666 at 31 De
Slide 27: Interest Rate Hedging
Interest Rate Hedging For personal use only 31 December 2020 Hedge Maturity Profile Interest Rate Hedging $ billion 12.0 $bn Fixed Rate Borrowings 9.3 10.0 2.18% Subordinated notes 4.1 8.0 1.99% 1.76% Fixed Rate Debt 1.53% 6.0 $ Fixed rate debt1 0.4 3.31% 1.44% 1.14% 4.0 Derivatives 2.0 1.20% $ Swap
Slide 28: Property Valuations December 2020
Property Valuations 31 December 2020 For personal use only AUSTRALIA (A$m) Ownership Book Value Retail Cap Rate Economic Yield AUSTRALIA (A$m) Ownership Book Value Retail Cap Rate Economic Yield AUSTRALIAN CAPITAL TERRITORY VICTORIA Belconnen 100% 760.0 5.75% 6.15% Airport West 50% 177.5 6.00% 6.94%
Slide 29: Important Notice
Important Notice For personal use only All amounts in Australian dollars unless otherwise specified. The financial information included in SCENTRE GROUP LIMITED ABN 66 001 671 496 this document is based on the Scentre Group’s IFRS financial statements. Non IFRS financial information included in this