Ingenia Communities Group · ASX:INA
Ingenia Communities — Shareholder Meeting (November 2015)
31 slides from Ingenia Communities's shareholder meeting presentation, Nov 17, 2015
Slide 1: Ingenia Communities Group Annual General Meeting
For personal use only Ingenia Communities Group Annual General Meeting LAKESIDE LARA 17 November 2015 1
Slide 2: FY15 Achievements: Strategy
FY15 ACHIEVEMENTS: STRATEGY For personal use only ˃ Rental yielding assets now 85% Expansion of cash yielding asset of expanded portfolio base ˃ Lifestyle Parks portfolio grown – six assets acquired or contracted ˃ Successful capital raising to fund Capital initiatives growth ˃ DRP in place ˃ Develo
Slide 3: Security Price Performance
SECURITY PRICE PERFORMANCE For personal use only Relative Growth of INA versus ASX 300 Property Index (XPK) 200% 150% 100% INA XPK 50% 0% -50% p3
Slide 4: Ingenia Today
INGENIA TODAY For personal use only Ingenia is a leading owner, operator and developer of affordable Retirement, Lifestyle and Leisure Communities p4
Slide 5: Growing Lifestyle Parks Portfolio
GROWING LIFESTYLE PARKS PORTFOLIO For personal use only Conjola Lakeside South Coast, NSW Premier 21 hectare park on the NSW South Coast with significant development upside p5
Slide 6: Largest Owner/Operator of Rental Villages
LARGEST OWNER/OPERATOR OF RENTAL VILLAGES For personal use only Brooklyn Gardens, Brookfield, VIC p9
Slide 7: Solid Base for Growth
SOLID BASE FOR GROWTH For personal use only p7
Slide 8: Delivering on Strategy
DELIVERING ON STRATEGY FY15 Results Summary For personal use only Increase focus on cash generating portfolios Lifestyle Parks and rental villages now 87% of portfolio Market leading portfolio of Lifestyle Parks Grow exposure to Lifestyle Parks Development underway at 9 communities FY15 Underlying P
Slide 9: Changing Business Mix
CHANGING BUSINESS MIX For personal use only 30 June 2014 Current Target allocation asset value1 asset value1 DMF DMF Garden Garden Villages 13% Garden 20% Villages ~ 25% Villages 33% 28% $350.0m Continued $455.0m growth NZ Students 13% Lifestyle Parks Lifestyle ~ 75% Parks Lifestyle 34% Parks 59% Ta
Slide 10: Growing Portfolio of Rental Communities
GROWING PORTFOLIO OF RENTAL COMMUNITIES For personal use only Ingenia has 63 Australian communities and growing 24 LIFESTYLE PARKS • 1,620 permanent sites • 593 annual sites • 1,300 short term sites Largest owner/operator of • 1,637 development sites seniors rental villages in Australia Growing pres
Slide 11: Key Financials
KEY FINANCIALS KEY FINANCIAL METRICS 30 JUNE 15 30 JUNE 14 CHANGE For personal use only Statutory profit $25.7m $11.5m 123% Revenue $76.0m $45.8m 66% Underlying profit1 $17.5m $11.6m 51% Operating cashflow $9.0m $14.2m (37%) Loan to value ratio (LVR) 22.6% 33.9% 33% Net asset value (NAV) per 38.9c 3
Slide 12: Underlying Profit Growing
UNDERLYING PROFIT GROWING Lifestyle Parks now key driver of earnings growth For personal use only JUNE 15 JUNE 14 All segments delivered growth in FY15 UNDERLYING PROFIT ($m) ($m) Garden Villages Continuing operations > Strong, stable cashflows • Garden Villages 11.0 9.9 > Further organic growth pot
Slide 13: Capital Management
CAPITAL MANAGEMENT For personal use only > New multibank facility of $175m (up $45.5m) on improved terms and margin > Tenure extended to 3 - 5 year term Debt > All in cost of bank debt now 3.8% > Current LVR within target range of 30 - 35% > Distribution Reinvestment Plan in place Equity > Continue
Slide 14: Portfolio Update
PORTFOLIO UPDATE For personal use only White Albatross Holiday Park p14
Slide 15: Garden Villages: Seniors Rental Villages
GARDEN VILLAGES 31 seniors rental villages For personal use only > Ingenia is the largest owner/operator of seniors rental accommodation in Australia > Improved operational performance through growing occupancy, increasing rents and expanding margins > Recent market transactions at a premium to curr
Slide 16: Ingenia Care Assist (ICA)
INGENIA CARE ASSIST (ICA) Empowering our residents For personal use only > Facilitated ageing-in-place strategy delivering government funded home care packages to our residents through accredited local care providers > Free service for residents enhancing value proposition and competitive advantage
Slide 17: Settlers Villages (DMF)
SETTLERS VILLAGES (DMF) For personal use only > Traditional retirement villages providing accommodation to self-funded retirees > Over 830 units located in WA, QLD and NSW > Portfolio considered non core and looking to divest at value Portfolio performing well, focus on exiting at value Recently com
Slide 18: Active Lifestyle Estates (Lifestyle Parks)
ACTIVE LIFESTYLE ESTATES (LIFESTYLE PARKS) Ingenia’s growth focus > High yielding assets with low risk, capital light development For personal use only > Finite pool of valuable land zoned for lifestyle and tourist parks in tightly held markets > Fragmented ownership offering considerable consolidat
Slide 19: Active Lifestyle Estates
ACTIVE LIFESTYLE ESTATES Revenue increasing as business rapidly expands For personal use only > Strong presence in NSW, expanding in SE Qld and Victoria Portfolio quality and scale enhanced > Focus on urban and coastal locations 24 LIFESTYLE PARKS Focus on creating vibrant and empowering > 1,620 per
Slide 20: Recent Acquisitions - Conjola Lakeside
RECENT ACQUISITIONS - CONJOLA LAKESIDE South Coast, NSW Premier 21 hectare park on the NSW South For personal use only Coast with significant development upside Acquired September 2015 p27
Slide 21: Recent Acquisitions - Bethania
RECENT ACQUISITIONS - BETHANIA Bethania, Qld Acquisition of partially developed community For personal use only with 76 approved sites acquired July 2015 Recently complemented by acquisition of adjacent land 7.1 hectare site p28
Slide 22: Recent Acquisitions - Chambers Pines
RECENT ACQUISITIONS - CHAMBERS PINES Chambers Flat, Qld For personal use only Immediate development DA lodged for 256 opportunity new homes 10 homes sold, 11 approved Approval pending and serviced sites p29
Slide 23: Recent Acquisitions - Lakeside Lara
RECENT ACQUISITIONS - LAKESIDE LARA Lara, Victoria First lifestyle park acquisition in Victoria – situated in an established cluster For personal use only 56 occupied homes, 13 unsold homes and 164 approved home sites p23
Slide 24: Tourism and Short Term Accommodation
TOURISM AND SHORT TERM ACCOMMODATION Attractive industry fundamentals Tourism and short term accommodation market 2,500 Manufactured Home Estates (MHE) For personal use only across Australia significantly leveraged to > AUD/USD > GDP and consumer sentiment 6% pure MHE > Ageing of population 30% mixe
Slide 25: Tourism and Short Term Accommodation
TOURISM AND SHORT TERM ACCOMMODATION Aligned with Ingenia’s focus on affordable seniors living Complementary business with significant upside For personal use only 1. Tourism and short term accommodation provides attractive cashflows, underpinned by strong repeat visitations, and increasing rental a
Slide 26: Ingenia's Growth and Optimisation Strategy
TOURISM AND SHORT TERM ACCOMMODATION Ingenia’s growth and optimisation strategy For personal use only Five pillars to maximising portfolio value A. Convert low yielding sites to affordable seniors accommodation – attractive development returns and annuity income streams B. Reposition iconic coastal
Slide 27: Development and Sales
DEVELOPMENT AND SALES For personal use only p27
Slide 28: Development and Sales
DEVELOPMENT AND SALES For personal use only > Growing development pipeline in key coastal and metro locations > New large-scale projects secured in Queensland and Victoria > Forecast end sales value exceeding $440 million with attractive embedded margins Development Pipeline TOTAL POTENTIAL STATE CL
Slide 29: Building Sales Momentum
BUILDING SALES MOMENTUM On track to deliver 120 sales FY16 > Achieved 63 new sales (36 settlements) to 16 November 2015 For personal use only > Significant progress made – same time last year 22 sales and 3 settlements > Sales contracts on hand 59 p29
Slide 30: Outlook
OUTLOOK For personal use only ► Optimise performance of existing assets ► Continue sales growth as new projects launch to achieve target of 120 sales for FY16 ► Divest remaining DMF assets to provide additional capital for reinvestment in lifestyle parks ► Continue to secure growth in lifestyle park
Slide 31: Disclaimer
DISCLAIMER For personal use only This presentation was prepared by Ingenia Communities Holdings The forward looking statements included in this presentation involve Limited (ACN 154 444 925) and Ingenia Communities RE Limited subjective judgment and analysis and are subject to significant (ACN 154 4
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