Elanor Investors Group · ASX:ENN
Elanor Investors — FY2019 Earnings Presentation
22 slides from Elanor Investors's earnings presentation, Aug 19, 2019
Slide 1: FY19 Results Presentation
ELANOR INVESTORS GROUP FY19 Results Presentation 19 August 2019
Slide 2: Contents
Contents Section Page No. 1 FY19 Results Overview 3 2 Strategy and Business Overview 5 3 Financial Results 12 4 Segment Performance 15 5 Strategy and Outlook 20 [2]
Slide 3: FY19 Results Overview
Nanot® FY19 Results Overview
Slide 4: FY19 Results Highlights
FY19 Results Highlights • Established five new managed funds in FY19 with a combined Funds Under $1,387m • gross asset value of $455.3m as at 30 June 2019 Management 28.1% increase on FY18 Waverley Gardens Fund is a new joint venture with Heitman, a global real estate investment management firm Fund
Slide 5: Strategy and Business Overview
Strategy and Business Overview
Slide 6: Funds Management Strategy
Funds Management Strategy • Grow funds under management Strategic Objective • Deliver strong returns for Elanor capital partners and security holders • ‘Capital-lite’ business model Provide superior investment results to deliver on strategic objective Retail Commercial Hotels, Tourism Other Sectors
Slide 7: Focused Execution of Funds Management Strategy
Focused Execution of Funds Management Strategy Execution of Capital led Strategy • Established new, growth focused, institutional capital partner relationships including: ― Joint venture with Heitman, a global real estate investment management firm, to acquire Waverley Gardens shopping centre for $1
Slide 8: Growth In Funds Management
Growth In Funds Management GROWTH IN FUNDS UNDER MANAGEMENT SINCE IPO1 1,800 1,600 1,400 1,200 1,000 $’000 $1,387m 800 $1,149m $1,083m 600 $864m $682m $646m 400 $485m $390m $346m $252m 200 $87m $159m $176m $145m $159m $163m $86m $104m $118m $124m $107m $128m 0 At IPO in July-14 31-Dec-14 30-Jun-15 3
Slide 9: Growth in Funds Management (cont'd)
Growth in Funds Management (cont’d) FUNDS MANAGEMENT INCOME ANALYSIS (HALF YEAR PERIODS) 10,000 9,000 8,000 7,000 6,000 $' 000 5,000 4,000 3,000 2,000 1,000 - 31-Dec-14 30-Jun-15 31-Dec-15 30-Jun-16 31-Dec-16 30-Jun-17 31-Dec-17 30-Jun-18 31-Dec-18 30-Jun-19 Performance Fees 320 570 2,219 490 3,789
Slide 10: Investments and Funds Under Management
Investments and Funds Under Management MANAGED FUNDS INVESTMENTS PORTFOLIO WorkZone West Syndicate ($0.1m) Elanor Luxury Hotel Fairfield Centre Elanor Commercial Fund Syndicate 1834 Hospitality Property Fund Waverley Gardens Fund Fairfield Centre Stirling Street Syndicate 154 Hunters Plaza 9 3 136 S
Slide 11: The Group has Significant Capital to Facilitate Future Growth
The Group has Significant Capital to Facilitate Future Growth Existing Capital Available to Facilitate Future Growth ($m) Merrylands sale proceeds 29 Capital management: recycling co-investment capital (anticipated to be recycled to cash in FY20) 31 Total Growth Capital 601 • The Group has approxima
Slide 12: Financial Results
Nanot® Financial Results
Slide 13: Adjusted Profit and Loss
Adjusted Profit and Loss1 FY19 FY19 Segment Revenue and EBITDA Revenue EBITDA • Statutory net profit after tax of $16.2m $000 $000 Funds Management 15,031 12,109 • Adjusted net profit after tax of $17.6m on the basis that the co- investments in Bluewater Square Syndicate, Elanor Metro and Hotels, To
Slide 14: Adjusted Balance Sheet
Adjusted Balance Sheet1 Balance Sheet as at 30 June 2019 $’000 • Net assets of $159m as at 30 June 2019 ($153m as at 30 June Assets 2018) Cash 14,437 • Financial assets include vendor finance on the Merrylands Receivables 14,878 property sale due for settlement on 30 September 2019 Inventories 632 •
Slide 15: Segment Performance
Nanot® Segment Performance
Slide 16: Segment Performance
Segment Performance The Group measures the performance of its co-investments based on distributions received / receivable, consistent with the treatment within Core Earnings. Adjusted EBITDA, to reflect distributions received / receivable from co-investments rather than the equity accounted result,
Slide 17: Funds Management
Funds Management Gross asset FY19 FY18 Variance Managed Funds Performance value ($m) ($m) ($m) (%) Elanor Commercial Property Fund 135.6 Elanor Metro and Prime Regional Hotel Fund 163.7 Revenue 15.0 13.7 9.6 Elanor Retail Property Fund (ASX: ERF) 341.0 Auburn Office Syndicate 4.7 Belconnen Markets S
Slide 18: Hotels, Tourism and Leisure
Hotels, Tourism and Leisure FY19 FY18 Variance Carrying Value Performance Assets ($m) ($m) (%) ($m) Adjusted Revenue 18.4 21.6 (14.8) Featherdale Wildlife Park 39.0 Expenses 11.9 13.9 (14.4) Hotel Ibis Styles Albany 5.2 Elanor Metro and Prime Regional Hotel Fund 30.1 EBITDA contribution to 6.4 7.7 (
Slide 19: Real Estate
Real Estate Carrying Value Assets FY19 FY18 Variance ($m) Performance ($m) ($m) (%) Elanor Commercial Property Fund 13.8 Adjusted Revenue ($m) 4.8 3.1 54.8 Elanor Retail Property Fund 34.9 Auburn Office Syndicate 2.4 Expenses ($m) 2.4 1.1 118.2 Belconnen Markets Syndicate 0.5 EBITDA contribution to
Slide 20: Strategy and Outlook
Nanot® Strategy and Outlook
Slide 21: Strategy and Outlook
Strategy and Outlook STRATEGIC OBJECTIVES Growing funds under management • Originating high investment quality assets • Growing institutional and private capital partner base • Seed new managed funds with ENN owned investments Actively managing investment portfolio • Grow earnings from co-investment
Slide 22: Disclaimer
Disclaimer This presentation has been prepared by Elanor Investors Limited (ACN 169 308 187) and Elanor Funds Management Limited (ACN 125 903 031, AFSL 398196), as responsible entity of Elanor Investment Fund, and their controlled entities (collectively, ‘Elanor Investors Group’, ‘the Group’ or ‘ENN
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