Peet Limited · ASX:PPC
Peet — Macquarie WA Forum October 2014
17 slides from Peet's conference presentation, Oct 16, 2014
Slide 1: Macquarie WA Forum Presentation October 2014
For personal use only Flagstone, Qld Macquarie WA Forum Presentation October 2014 Bringing Land to Life
Slide 2: Group Update
Group Update Sales momentum remains solid For personal use only Operating performance tracking in line with expectations » Residential sales continue to be robust in our key corridors »FY14 FY14Three projects commenced development in 4Q14 Result »Result Contracts on hand increased to $516m as at S
Slide 3: Operational Update
Operational Update For personal use only Improving margins following stronger market conditions and price growth during 2H14 FY14 Peet FY14is well placed to capitalise having already invested in six just commenced and soon to commence projects Result Result Cash flow from these projects togethe
Slide 4: Flagstone Update
Flagstone Update » Transformational acquisition For personal use only » 50/50 JV with MTAA Super » Includes over 12,000 dwellings including a town centre, retail, service industry, general industry, schools, healthcare, retirement, childcare, sporting and other community facilities » Acquired off-ma
Slide 5: Contracts on hand
Contracts on hand » Sales momentum continues with a 10% increase in contracts on hand since year end For personal use only » Sales momentum is solid since June 2014 » Significant increase in lot sales in FY14 of over 3,500 lots » Strong settlements achieved in June 2014 quarter » Significant number
Slide 6: Executing on strategy
Executing on strategy Continued reweighting of business to FM / higher ROCE projects For personal use only » Majority of land bank now in Funds Management or capital efficient structures » Balance sheet capital employed being unwound through development and future syndications » Balance sheet capi
Slide 7: Group Business model
Group Business model Continued reweighting of business to Funds Management Land Bank For personal use only Target EBIT Target EBIT Diversification by Capital Sources of Composition Margin Land Bank Employed1 Geography (%)4 Revenue 1 2 24 35 25 36 Lots: 12,114 40% – 50% Development 20%-25% GDV ($bn):
Slide 8: Extensive experience in land development
Extensive experience in land development For personal use only MACQUARIE WA FORUM ǀ OCTOBER 2014 ǀ PAGE 8
Slide 9: Land bank – Funds Management key projects
Land bank – Funds Management key projects Funds Management Lots1 remaining For personal use only Project name GDV Project Lifecycle (at 30 June 14) 2015 2016 2017 2018 Alkimos $839m 2,386 Selling Burns Beach $368m 735 Selling Golden Bay $304m 1,322 Selling Lakelands $203m 1,246 Selling Yanchep Golf
Slide 10: Land bank – Company-owned key projects
Land bank – Company-owned key projects Company-owned For personal use only Lots1 remaining Project Lifecycle Project name GDV (at 30 June 14) 2015 2016 2017 2018 Brigadoon $76m 168 Selling Chase, Baldivis $97m 502 Start up Selling WA Mundijong $87m 541 Planning Start up Selling Other $618m 3,621 Gla
Slide 11: Land bank – Joint Venture key projects
Land bank – Joint Venture key projects Joint Venture For personal use only Lots1 remaining Project Lifecycle Project name GDV (at 30 June 14) 2015 2016 2017 2018 NSW Googong2 $629m 2,678 Selling ACT Crace $2m 6 Selling Completion WA Wellard $315m 1,436 Selling NT The Heights $136m 539 Selling SA Lig
Slide 12: Australian Residential Market Update & Outlook
Australian Residential For personal use only Market Update & Outlook
Slide 13: Residential market overview
Residential market overview » Fundamentals underpinning the housing market remain supportive of both prices and volumes » Construction activity continues to remain strong across major capital cities For personal use only » Affordability, softening labour market conditions and consumer caution is lik
Slide 14: Residential market overview (cont.)
Residential market overview (cont.) For personal use only ACT and adjoining NSW Shortage of supply • Land sales expected to remain solid in the mid term due to a shortage of supply • The residential construction market remains reasonably buoyant FY15 Medium term forecast SA Market showing tentative
Slide 15: Outlook
Outlook » Strong sales momentum continuing into FY15 For personal use only » Favourable market dynamics including population growth and continuing low interest rates » In particular, Peet well positioned for Queensland recovery to supplement stronger WA, Vic and NSW/ACT projects » Expect FY15 to sho
Slide 16: Thank you
For personal use only Thank you
Slide 17: Disclaimer
Disclaimer » While every effort is made to provide accurate and complete information, Peet does not warrant or For personal use only represent that the information in this presentation is free from errors or omissions or is suitable for your intended use. Subject to any terms implied by law and whic