Aspen Group Limited · ASX:APZ
Aspen — Shareholder Meeting (November 2024)
10 slides from Aspen's shareholder meeting presentation, Nov 15, 2024
Slide 1: Aspen Group Annual General Meeting 2024
For personal use only Aspen Group Annual General Meeting 2024 15 NOVEMBER 2024
Slide 2: Coorong Quays, Hindmarsh Island, SA
Coorong Quays, Hindmarsh Island, SA For personal use only 2
Slide 3: Aspen is Helping Solve the Affordable Housing Crisis
Aspen is Helping Solve the Affordable Housing Crisis Proportion of Rentals Listed at <$400 per Week For personal use only Acute undersupply in all capital cities with limited solutions in sight 70% 60% 50% 40% 37% 30% 20% 10% 6% 0% Sydney Melbourne Brisbane Adelaide Perth Hobart Darwin ACT Combined
Slide 4: FY24 Highlights
FY24 Highlights Underlying EPS1 13.81 cents DPS 8.50 cents NAV2 $2.23 For personal use only up 15% on FY23 up 10% on FY23 up 11% on 30 June 2023 Average Rent3 $317pw 50% NOI margin Increasing Scale Average Sale Price $332k 5,107 dwellings/sites owned outright 30% Development Profit margin plus annui
Slide 5: Aspen's Superior Returns for Securityholders
Aspen’s Superior Returns for Securityholders 5 Year Total Return per Aspen Security For personal use only $1.47 5% per annum $2.18 $0.35 Value Add $0.06 14% per annum ROE of 20% per annum1 Conservative Book Values $1.13 Investment Property @ 6.8% WACR2 Approved Development Sites @ $41k Each 5.3cps D
Slide 6: Rentals: Creating Sustainable Income & Value
Rentals: Creating Sustainable Income & Value Rental Pool – Dwellings & Sites Total NRI1 (lhs) and Weekly Rent 2 Total Value of Rental Pool (rhs) # $m $m For personal use only 8,000 Up 2x $45 3x $400 $600 4x 7,000 $40 $350 $500 $35 6,000 Average rent down $300 5% in real terms $30 $400 5,000 $250 $25
Slide 7: Development: Creating Profits and Annuity Land Rent
Development: Creating Profits and Annuity Land Rent Development - Settled Sales and Total Profit $m 9 projects # For personal use only $10 100 $9 90 $8 80 $7 70 $6 60 $5 50 $4 40 $3 30 $2 20 1 project $1 10 $0 0 FY19 FY20 FY21 FY22 FY23 FY24 Total Development Profit Total Sales (rhs) Source: Aspen’s
Slide 8: Aspen is Well Positioned – Opportunities Increasing
Aspen is Well Positioned – Opportunities Increasing 90% weighting to the highest growth States and affordable Rent/Price points Minimal exposure to weak markets – increasing opportunities to acquire – increasing opportunities to recycle capital into developing new properties affordable accommodation
Slide 9: Aspen's FY25 Earnings Guidance Upgraded
Aspen’s FY25 Earnings Guidance Upgraded ✓ Rentals FY25 Guidance4 ▪ Long stay is robust: minimal vacancy, mainly related to disruptive changes to foreign student visa rules and refurbishment works; rents are generally below market and growing For personal use only ▪ Short stay is patchy: one-off proj
Slide 10: Disclaimer
For personal use only Disclaimer This presentation has been prepared by Aspen Group Limited on behalf of Aspen Group Limited and Aspen Property Trust (“Aspen”) and should not be considered in any way to be an offer, invitation, solicitation or recommendation with respect to the subscription for, pur