Mirvac Group · ASX:MGR
Mirvac — Macquarie Australia Conference 2023
19 slides from Mirvac's conference presentation, May 2, 2023
Slide 1: Macquarie Australia Conference
Macquarie Australia Conference For personal use only Campbell Hanan Group CEO & Managing Director 2 May 2023 Aspect Kemps Creek, Sydney (artist impression, final design may differ)
Slide 2: Acknowledgement of Country
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Acknowledgement of Country Mirvac acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Owners of the lands and waters of Australia, and For personal use only we offer our respect to their Elders past and present. ‘Reimagini
Slide 3: Our competitive advantage: integrated asset creation and curation
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Our competitive Award-winning Australian urban asset creator, owner and manager advantage For personal use only T CREATION AS S E elopment Dev Development EBIT Integrated asset creation and curation capability is our key competitive advantage: NTA
Slide 4: Business responding to long-term structural trends
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Business responding to long-term structural trends For personal use only Mirvac’s business leverages structural mega-trends, supporting earnings growth over time FUTURE FOCUS Retain balance sheet flexibility Institutional capital demand Urbanisatio
Slide 5: Retain Balance Sheet flexibility
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Retain Balance Sheet flexibility For personal use only Current position > Strong balance sheet and liquidity position FUTURE FOCUS > Significant coverage over leverage and interest cover covenants Ensure flexibility to execute strategy and take adv
Slide 6: Expand Funds Management offering
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Expand Funds Management offering For personal use only Current position > Continued institutional demand for quality, modern, sustainable real estate in Australia FUTURE FOCUS > Strong alignment of interest model (capital alignment considered in de
Slide 7: Continue to increase resilience of Investment portfolio
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Continue to increase resilience of Investment portfolio For personal use only Current position Active management has driven strong uplift in portfolio quality FUTURE FOCUS > ~$4.2bn of assets disposed over last 10 years > ~$6bn4 of assets created o
Slide 8: Leverage integrated Development capability
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Leverage integrated Development capability For personal use only Current position > 50-year track record of development through cycles FUTURE FOCUS > Integrated development, design and construction capability and reputation for quality is a critica
Slide 9: Continued leadership in ESG & Culture
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Continued leadership in ESG & Culture For personal use only ESG AT THE HEART OF EVERYTHING THAT WE DO STRONG EMPLOYMENT BRAND & CULTURE Achieved Net positive 5.0 star 5.25 star #1 in property, construction in scope 1 and 2 carbon emissions AAA Rati
Slide 10: Sustainable, modern, resilient Office portfolio
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Sustainable, modern, resilient Office portfolio For personal use only Modern, sustainable office buildings continue to attract strong tenant demand 96.1% Occupancy1 Office demand by grade Two year net absorption, cumulative square metres (3Q22: 95.
Slide 11: 100% Sydney Industrial portfolio benefiting from tight conditions
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life 100% Sydney Industrial portfolio benefiting from tight conditions For personal use only Sydney industrial vacancy remains tight, supporting rent growth 4.00% 30.0% 100% Occupancy1 25.0 (3Q22: 100%) 3.00 20.0 +8.9% Gross re-leasing 2.00 15.0 spreads
Slide 12: Urban Retail portfolio seeing resumption of students, tourists and CBD workers
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Urban Retail portfolio seeing resumption of students, tourists and CBD workers BROADWAY, SYDNEY For personal use only Australia – Net Visa Arrivals vs Net Overseas Migration Big Guns #1 MAT sales/ Rolling annual sqm centre in Australia 97.3%Occupan
Slide 13: BTR – strong leasing underway at LIV Munro
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life BTR – strong leasing underway at LIV Munro For personal use only Residential vacancy rates (postcodes) 3.0% LIV Munro 54% Leased1 2.5 (opened Nov 22) 2.3% 2.0 LIV Indigo 1.6% 96% 1.5 1.4% Occupancy1 1.0 1.0% 0.9% 0.5 Robust underlying market fundam
Slide 14: Funds Management – strong momentum underway across multiple sectors
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Funds Management – strong momentum underway across multiple sectors For personal use only ESTABLISHING NEW BTR VENTURE PROGRESSING NEW INDUSTRIAL VENTURE NEW OFFICE PARTNERSHIP $1.8bn VENTURE1 $0.6bn PARTNERSHIP1 7 Spencer Street, Melbourne2 Securi
Slide 15: Progressing our development pipeline
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Progressing our development pipeline For personal use only MIXED USE / OFFICE INDUSTRIAL BUILD TO RENT ~$2.1bn ~84% ~$345m 474 END VALUE2 PRE-LEASED3 END VALUE2 APARTMENTS 396 APARTMENTS Harbourside, Sydney1 Switchyard, Auburn, Sydney1 LIV Anura, B
Slide 16: Residential well placed for undersupplied market
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Residential well placed for undersupplied market For personal use only > 288 (1,133 FYTD) lot sales in Q3 remain subdued impacted by rising APARTMENTS IN ESTABLISHED PRECINCTS SELLING WELL <1.4% interest rates, fewer product launches and lower firs
Slide 17: Summary & Outlook
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Summary & Outlook For personal use only FY23 Guidance1 Operating EPS and DPS Due to adverse weather impacting residential settlements and the deferral 16.0 cents of Aspect North settlement into FY24, the group’s updated FY23 guidance and components
Slide 18: Positioned for medium-term earnings growth
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Positioned for medium-term earnings growth For personal use only Multiple levers to drive growth over time DEVELOPMENT PIPELINE Value creation from diversified ~$30bn development pipeline5, utilising internal design RESIDENTIAL COMPLETIONS and cons
Slide 19: Thank you
MACQUARIE AUSTRALIA CONFERENCE Reimagine Urban Life Thank you For personal use only Contact Gavin Peacock, CFA | General Manager Investor Relations investor.relations@mirvac.com Authorised for release by The Mirvac Group Continuous Disclosure Committee Mirvac Group Level 28, 200 George Street, Sydne