Charter Hall Group · ASX:CHC
Charter Hall — Shareholder Meeting (October 2007)
16 slides from Charter Hall's shareholder meeting presentation, Oct 25, 2007
Slide 1: Annual General Meeting 2007
CHARTER HALL GROUP For personal use only ANNUAL GENERAL MEETING 2007 25 October, 2007 Sydney Brisbane Perth Auckland
Slide 2: Kerry Roxburgh – Chairman: Address to Securityholders
CHARTER HALL GROUP For personal use only Kerry Roxburgh – Chairman: Address to Securityholders Sydney Brisbane Perth Auckland
Slide 3: Chairman's Address
CHAIRMAN’S ADDRESS As I said in the Annual report, Charter Hall recorded a strong $43 million operating result, up 147% on the previous corresponding period. Since 30 June 2006 the price of the stapled securities of the Group improved For personal use only by 110%, ending the financial year at $2.84
Slide 4: Chairman's Address (Cont.)
CHAIRMAN’S ADDRESS (Cont.) The business divisions that were created at inception still remain today. For personal use only André and the Charter Hall team formulated and promoted the first opportunistic property fund in Australia, which AMP agreed to support and co-manage. This provided Charter Hall
Slide 5: Chairman's Address (Cont.)
CHAIRMAN’S ADDRESS (Cont.) Since listing on the ASX in 2005 André continued his valuable contribution firstly as an Executive Director and more recently as a Non-executive Director. For personal use only On behalf of us all, I acknowledge and express our appreciation André, for all you have done for
Slide 6: David Harrison and David Southon - Joint Managing Directors
CHARTER HALL GROUP For personal use only David Harrison - Joint Managing Director David Southon - Joint Managing Director Sydney Brisbane Perth Auckland
Slide 7: FY07 At-a-Glance
FY07 AT-A-GLANCE • FY07 DPS at 10.44cps – 47% increase on FY06 DPS For personal use only • 118% TSR to CHC Securityholders – over FY07 • 2 new wholesale funds – CHOF5 and CPIF, raised $650m of equity commitments • Unlisted equity commitments increased by $775m in FY07 • 26 investment assets acquired
Slide 8: FY07 Financial Performance to June 2007
FY07 FINANCIAL PERFORMANCE TO 30 JUNE 2007 FY07 results FY06 Variance For personal use only DPS 10.44cps 7.10cps +47% 1. Underlying NPAT & EPS is after adding back AIFRS non cash expenses (mainly the share based remuneration NPAT $43.2m $17.4m +147% expense and tax expense on the unrealised gain in
Slide 9: Performance: CHC Security Price
PERFORMANCE: CHC SECURITY PRICE • 101% out-performance of ASX/S&P Property Trusts 300 on a total return basis since 30 June 06 For personal use only $3.30 CHC S&P/ASX LPT 300 (rebased) $2.80 $2.30 $1.80 $1.30 $0.80 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 A
Slide 10: Co-Investment Model
CO-INVESTMENT MODEL For personal use only CHARTER HALL GROUP (CHC) 50% 3% 15% 23% 32% 20%* 33% 7% 100% DEVELOPER DEVELOPMENT SERIES CORE-PLUS SERIES FUNDS FOR RETAIL INVESTORS DIRECT PROPERTY CIP CHOF4 CHOF5 OFFICE INDUSTRIAL RETAIL CHUF DPF CHPT $165m $300m $625m $350m $350m $150m $70m $460m Equity
Slide 11: Equity Raising
EQUITY RAISING Asset Equity FUND # Assets Year Est. Status Capacity C’mmitted Opportunistic Closed For personal use only CHARTER HALL OPPORTUNITY FUND 5 (CHOF 5) 1 $1,000m $300m 07 Ended Closed CHARTER HALL OPPORTUNITY FUND 4 (CHOF 4) 5 $500m $165m 05 Ended CORE PLUS OFFICE FUND (CPOF) 13 $1,250m $6
Slide 12: Performance: Funds
PERFORMANCE: FUNDS Opportunistic Fund IRRs: 20% target IRR 9 Opportunistic CHOF 4 40% For personal use only funds have delivered an PDP 3 23% average IRR of more than 26% over 10 years on PDP 2 27% realised projects, across all funds PDP 1 17% Core Plus Fund IRRs: 11%-12% target IRR 9 Core Plus fund
Slide 13: Wholesale Funds Management Overview
WHOLESALE FUNDS MANAGEMENT OVERVIEW • Largest Core Plus Fund Manager in Australia - $975 million equity raised to date For personal use only • Sector specific Core Plus funds - Office, Industrial and Retail • Skill and track record to deliver development margins essential to equity value growth for
Slide 14: Wholesale Funds Management Overview
WHOLESALE FUNDS MANAGEMENT OVERVIEW • Largest Opportunistic Fund Manager in Australia - $734m equity raised to date For personal use only • 5th fund in the successful series of Charter Hall’s Opportunity Funds • Total committed equity of $300m, with capacity for $1 billion of project value • Substan
Slide 15: Retail Funds Management Overview
RETAIL FUNDS MANAGEMENT OVERVIEW • Charter Hall to further penetrate the retail funds management market For personal use only • Diversified Property Fund (DPF) rapidly expanding • Increasing equity in-flows from major financial planning groups and platforms • 156% increase in AUM during FY07 • Chart
Slide 16: FY07 Summary & Outlook
FY07 SUMMARY & OUTLOOK Wholesale Funds Management Closed Core Plus Industrial Fund (CPIF) and secured $350m in equity commitments For personal use only Closed Charter Hall Opportunistic Fund 5 (CHOF5) and secured $300m in equity commitments $125m secondary raising for Core Plus Office Fund (CP
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