Aspen Group Limited · ASX:APZ
Aspen — Shareholder Meeting (November 2011)
22 slides from Aspen's shareholder meeting presentation, Nov 29, 2011
Slide 1: 2011 Annual General Meeting - Chairman's Address
Aspen Group Limited ABN 50 004 160 927 Aspen Property Trust ARSN 104 807 767 Level 8, Septimus Roe Square 256 Adelaide Terrace, Perth For personal use only Western Australia, 6000 Telephone: 08 9220 8400 Facsimile: 08 9220 8401 Email: homemail@aspengroup.com.au 2011 ANNUAL GENERAL MEETING 28 Novembe
Slide 2: Chairman's Address: Overview of 2011
I am delighted that we can report that significant achievements have been made in all these regards. We have an enhanced investment portfolio underpinned by our interest in the ATO Building in Adelaide which has been secured with Telstra Super, one of Australia’s largest corporate super funds. We ha
Slide 3: Remuneration, Governance and Outlook
The key message in our remuneration strategy has been one of restraint, where the base pay for our Managing Director remains unchanged since 2009 and will remain so in 2012. Our overall Key Management Personnel payments were down again this year. With these comments in mind and notwithstanding the u
Slide 4: Chairman's Conclusion
We clearly share the disappointment of all securityholders that the Group’s securities trade at a significant discount to the net tangible asset backing. We continue to believe that the strength of the property portfolio and the delivery of ongoing performance of the funds management division will b
Slide 5: About Aspen Group
About Aspen Group Aspen Group is an ASX listed property investment and funds management group, focused on acquiring quality property assets and creating and managing innovative property funds and syndicates. Formed in 2001, Aspen is a member of the S&P/ASX 300 index with assets under management of a
Slide 6: 2011 Annual General Meeting
For personal use only 2011 Annual General Meeting 28 November 2011
Slide 7: Managing Director's Presentation
For personal use only Managing Director’s Presentation Gavin Hawkins
Slide 8: Key Results
Key Results Financial results delivered For personal use only Operating profit before tax $33.4m 11.4% Statutory Profit after tax $17.4m 39% Operating Highlights Property portfolio enhanced via ATO asset acquisition WALE increased to 5.0 yrs 2 yrs Strong retail equity inflows for FY11 20% Capital
Slide 9: Corporate Structure
Corporate Structure For personal use only Property Portfolio Funds Management $373m AUM $1.0B AUM Investment Property Fund Sector Equity % Loans AUM Portfolio $345m* Aspen Parks Tourist & Accom $18.1m / 12% Nil $288m Non-Core Assets $28m (to be recycled) $12.6m Generates rental Aspen Living Re
Slide 10: Property Portfolio
Property Portfolio For personal use only EBITDA Ave Funds ROC ROC AUM FY11 FY10 Employed FY11 FY10 $M $M $M $M % % Investment Property 327 30.85 33.48 383.15 8.1% 8.2% Key Highlights Assets by Geographic 4.4% increase in like for like rental growth in FY11 Location Sale of two assets at circa book v
Slide 11: Funds Management
Funds Management Financial Contribution For personal use only AUM EBITDA Ave Funds ROC ROC Funds Management $M FY11 FY10 Employed FY11 FY10 $M $M $M % % Aspen Living Residential Land 319 8.0 4.5 63.1 12.6% 8.8% Aspen Parks Accom Parks 288 5.2 4.7 18.0 29.1% 18.4% ADF No 1 Diverse 254 2.9 1.0 35.3 8.
Slide 12: Funds Management Key Strategies and Outlook
Funds Management Key Strategies and Outlook For personal use only Key Strategies and Outlook Continued growth of : Aspen Park Equity Inflows 2006 - 2011 - Financial advisor networks /and - Sophisticated private client network Explore options for new retail product offerings Identify single asset syn
Slide 13: Funds Management: Aspen Diversified Fund
Funds Management Aspen Diversified Fund Key Highlights For personal use only Occupancy increased to 91% at June 2011 (81% at June 2010) WALE increased to 4.8 years at June 2011 (2.6 years at June 2010) New 3 year debt facility with reduced margin Outlook Actively implementing the Fund’s strategy of
Slide 14: Funds Management: Aspen Living
Funds Management Aspen Living Key Highlights For personal use only New retail syndicate The Enclave Record sales level for FY11 Outlook Address tight market conditions for FY12: ─ Competitively priced stock ─ Strong builder relationships Forecast settlement of 354 lots in FY12 for GRV $85m 3700 lots
Slide 15: Funds Management: ADF No 1
Funds Management ADF No. 1 For personal use only Key Highlights ATO pre-funding achieved Norwest Hospital suites sales strong Planning progress made on portfolio Outlook ATO completion by October 2012 Sell out remaining medical suites at Norwest Progress planning approvals on future Adelaide City Ce
Slide 16: Funds Management: Aspen Parks Property Fund
Funds Management Aspen Parks Property Fund For personal use only Key Highlights Recorded 7th straight year of EPS growth Reduced gearing to 40% at June 2011 Received ‘Highly Recommended’ independent research rating Outlook Positioned for growth of $60 -$80m through Wallamba River Holiday Park, NSW r
Slide 17: Funds Management Summary
Funds Management Summary Diversified Property Capabilities and Opportunities For personal use only 12 Aspen Group - AGM 2011
Slide 18: Year to Date: Property Portfolio
Year to Date Property Portfolio For personal use only Septimus Roe Square occupancy increased from 84% to 94% Buoyant WA market, resulting in FY12 values up 11% on 3 revalued assets, including: - Septimus Roe Square ($87m to $96m) - Aspen Karratha Village ($44m to $52m) Aspen Diversified Key metrics
Slide 19: Year to Date cont.
Year to Date cont… For personal use only Aspen Development Fund No 1 ► ATO Building completion on target and budget - circa 50% complete to level 11 Aspen Parks Aspen Parks Gross H1 Inflows ► Retail inflows YTD up 30% on corresponding period of FY11 and 46% on FY10 ► Active focus on organic developm
Slide 20: Investment Case/Outlook
Investment Case/Outlook APZ Source of Income For personal use only 60 $M Total Fund Management Income High discount to NTA 50 Investment Property (Net income) 40 Sustainable yield and cash distribution 30 Strong and desirable exposure to WA 20 A growing retail funds business 10 First inroads made in
Slide 21: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Aspen Group (“Aspen”) and should not be considered in any way to be an offer, invitation, solicitation or recommendation with respect to the subscription for, purchase or sale of any security, and neither this document nor anyth
Slide 22: For personal use only
For personal use only