Cedar Woods Properties Limited · ASX:CWP
Cedar Woods Properties — H1 FY2019 Earnings Presentation
22 slides from Cedar Woods Properties's earnings presentation, Feb 26, 2019
Slide 1: Half Year FY19 Financial Results
Half Year FY19 Financial Results 26 February 2019 For personal use only
Slide 2: About Cedar Woods: Our strategy
About Cedar Woods: Our strategy For personal use only To grow and develop our national project portfolio, Geography diversified by geography, product type and price point, so that it continues to hold broad customer appeal and performs well in a range of market conditions. Price Point 2
Slide 3: About Cedar Woods: How we create value
About Cedar Woods: How we create value For personal use only Geography Price Point 3
Slide 4: About Cedar Woods: Performing through the cycles
About Cedar Woods: Performing through the cycles For personal use only A strong track record of consistent profitability & fully franked dividends - FY19 interim dividend up 50% DIVIDEND (CENTS) NPAT ($M) 4
Slide 5: Financial: FY19 H1 highlights
Financial: FY19 H1 highlights For personal use only Geography Price Point 5
Slide 6: Financial: Balance sheet strength & access to funding
Financial: Balance sheet strength & access to funding For personal use only 31 Dec 30 Jun 2018 2018 Gearing (%) 100 Total assets (book value) $563.6m $601.5m Net assets (equity) $373.3m $353.2m 80 Net assets per share (book) $4.66 $4.44 60 Net bank debt $138.3m $109.1m Net bank debt to equity 37.1%
Slide 7: Our portfolio: Summary
Our portfolio: Summary For personal use only Price Point 7
Slide 8: Our portfolio: Project locations
Our portfolio: Project locations For personal use only Geography Price Point 8
Slide 9: Our portfolio: Diversified by product and location
Our portfolio: Diversified by product and location For personal use only Location Product Type Product Type # lots/homes/offices Revenue $ # lots/homes/offices Geography QLD Commercial Commercial Land Land 8% 16% Sales 10% Townhouses Sales WA 34% 47% 50% 31% 45% 19% VIC Townhouses 15% 25% Apartments
Slide 10: Market conditions: Economic factors
Market conditions: Economic factors For personal use only Geography Population growth GDP growth Unemployment continuing 1 robust 2 stable 3 VIC 2.2% 3.00% 4.6% QLD 1.7% 3.00% 6.4% WA 0.8% 3.00% 6.5% SA 0.7% 1.75% 5.3% Notes: (1) ABS: Australian demographic statistics June 2018, (2) State Treasuries
Slide 11: Market conditions: Property sector
Market conditions: Property sector For personal use only Whilst each state is at a different point in the property and economic cycle, there are several factors at the national level that are working for or against the sector. Factors impacting sales & enquiry levels in the first half of FY19 Geogra
Slide 12: Our projects: Western Australia
Our projects: Western Australia 40KM For personal use only 15 projects & more than 5,700 lots / dwellings 20KM ARIELLA PRIVATE ESTATE 10KM BUSHMEAD Projects catering for a range of buyer types 5KM PERTH CBD Land subdivision & townhouses HARRISDALE GREEN KARMARA 2 new developments delivering
Slide 13: Our projects: Western Australia highlights
Our projects: Western Australia highlights For personal use only Ariella 490 lots, in north-east growth corridor Strong sales continuing Construction of stages 1 to 6 complete with stage 7 commencing February 2019 Price range $175,000 - $290,000 Ariella Bushmead 950+ lot estate, strong mar
Slide 14: Our projects: Victoria
Our projects: Victoria 40KM For personal use only 15 projects (9 currently at Williams Landing) 20KM CARLINGFORD ST. A 10KM Approximately 1,450 lots / dwellings / offices + 5KM LEVESON STREET 20 hectares of commercial / apartment sites MELBOURNE CBD Land subdivision, townhouses, apartments & W
Slide 15: Our projects: Victoria highlights
Our projects: Victoria highlights For personal use only Jackson Green (Clayton South) 500+ townhouses & apartments Price range $350,000 - $950,000 Strong presales Numerous stages underway & progressively completing St A Jackson Green Artist’s impression St A (St Albans) 260+ townhouses & a
Slide 16: Our projects: Williams Landing
Our projects: Williams Landing 10 years+ remaining project life For personal use only Diverse mix of land, townhouses, apartments & 101 Overton Rd - strata office commercial developments Pipeline of 20 commercial / residential sites & over 200 dwellings outside of town centre Numerous projec
Slide 17: Our projects: Queensland
Our projects: Queensland For personal use only Ellendale (Upper Kedron) 228 ha site, 12km west of Brisbane CBD 900+ lots now approved Price range $290,000 – $480,000 Several stages underway 8 years remaining life Ellendale Ellendale Bexley (Wooloowin) 3.8 ha site, 6km north of Brisbane C
Slide 18: Our projects: South Australia
Our projects: South Australia For personal use only Glenside 17ha, 3km south east of CBD, highly sought after suburb 1,000 townhouses & apartments Stage 1 approved; 61 townhouses & 136 apartments Construction of 61 townhouses underway First apartment building (86 apartments) released in Oc
Slide 19: Outlook
Outlook For personal use only Conditions differ from state to state with softer conditions expected in some markets Low interest rates, population growth & government incentives supportive of demand Projects in VIC, SA and QLD in higher performing locations with low competition Long pipeline of qual
Slide 20: The Cedar Woods investment proposition
The Cedar Woods investment proposition For personal use only Stable and experienced Board and Management Geography Track record of consistent profits & dividends Strong dividend yield of 5.9% fully franked (at 25 February 2019) Strong earnings growth outlook Well positioned to benefit from WA turnar
Slide 21: Disclaimer of liability
For personal use only Disclaimer of liability While every effort is made to provide complete and accurate information, Cedar Woods Properties Limited does not warrant or represent that the information in this presentation is free from errors or omissions or is suitable for your intended use. Subject
Slide 22: Appendix 1: Project life
Appendix 1: Project life LOT/UNITS LOTS/UNITS PROJECT LIFE CORRIDOR / PROJECT NAME PROJECT TYPE PROJECT REMAIN FY19 FY20 FY21 FY22 FY23 FY24 LOCATION For personal use only (as at 31/12/18) WESTERN AUSTRALIA - PERTH Mariners Cove, Mandurah South Residential Land 982 25 Ariella, Brabham North East Res
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