Peet Limited · ASX:PPC
Peet — Shareholder Meeting (October 2023)
27 slides from Peet's shareholder meeting presentation, Oct 25, 2023
Slide 1: 2023 Annual General Meeting ASX Release
ASX RELEASE ASX: PPC 25 October 2023 2023 Annual General Meeting (“AGM”) Enclosed are copies of an address and a presentation to be given at today’s AGM of Peet Limited (ASX: PPC) by Mr Tony Lennon, Chairman and Mr Brendan Gore, Managing Director and Chief Executive Officer, respectively. This annou
Slide 2: Chairman's address to the 2023 Annual General Meeting
ASX RELEASE ASX: PPC 25 October 2023 Chairman’s address to the 2023 Annual General Meeting Peet is a leading Australian developer with a vision to ‘imagine and realise future places where lives are enhanced by communities built on a sense of belonging’. It has a proven track record and has demonstra
Slide 3: Chairman's address: FY23 earnings, dividend and strategic focus
ASX RELEASE ASX: PPC This all contributed to operating and statutory earnings per share of 14.8 cents, compared to 10.8 cents in FY22. In August 2023, the Directors declared a final fully franked dividend for FY23 of 4.0 cents per share, bringing the total FY23 dividend to 7.5 cents per share (fully
Slide 4: Shareholder returns and ESG
ASX RELEASE ASX: PPC The successful implementation of our strategies ultimately results in returns to shareholders via dividends and returns of capital. Including the final fully franked dividend for FY23, total shareholder returns since FY18 total some $173 million, including $153 million of fully
Slide 5: Outlook and Conclusion
ASX RELEASE ASX: PPC Outlook Residential markets continue to adjust from their peak following interest rate increases, inflationary pressures, low consumer confidence and (in Victoria in particular) builder uncertainty. Despite markets being at or close to bottoming, and with an improvement in enqui
Slide 6: Annual General Meeting 2023
ANNUAL GENERAL MEETING 2023 For personal use only
Slide 7: Company Overview
Company Overview • Leading Australian developer of quality residential communities with a proven track For personal use only record for nearly 130 years WHOLESALE/ • Large, nationally diverse land bank provides INSTITUTIONAL 8,953 lots1 $2.8bn GDV2 economies of scale to deliver a wide range of produ
Slide 8: Strong Platform for Growth
Strong Platform for Growth 130-year track record of developing through cycles For personal use only GEOGRAPHICALLY DIVERSE PIPELINE $13.5bn • • Benefit from various growth corridors – positioned for future Australian population growth Allows Peet to leverage state-base fluctuations END VALUE • Abili
Slide 9: Our Commitment to Sustainability
Our Commitment to Sustainability Our Sustainability Approach As a leading residential developer with a large national footprint, our approach focuses on sustainable practices to For personal use only create long-term shared value for our communities, shareholders and people ENVIRONMENT SOCIAL GOVERN
Slide 10: FY23 Results Highlights
FY23 Results Highlights Strong performance in challenging conditions For personal use only FINANCIAL OPERATIONAL Net Operating Profit1 DPS $70.1m 7.50c 1,399 2,594 LOTS4 SOLD LOTS4 SETTLED +34% on FY22 +20% on FY22 Operating EPS NTA 14.79c $1.29 $476m 27.7% CONTRACTS ON GEARING5 +37% on FY22 6% high
Slide 11: Our Shareholder Returns
Our Shareholder Returns We have returned $173m1 to shareholders since FY18, through fully franked dividends and our ongoing capital management program For personal use only • Disciplined application of our capital management framework Shareholder returns since FY18 ($m) and strong balance sheet mean
Slide 12: Enquiry Levels Remain Solid
Enquiry Levels Remain Solid Sales are tracking in line with expectations • 1Q24 net sales of 552 reflecting an 81% increase on 4Q23 For personal use only 11945 11711 - WA market conditions continued to improve throughout 1Q24 8890 - New sales releases in existing and new projects in SA 7838 7464 695
Slide 13: Delivering against our Strategy
Delivering against our Strategy Significant value to be unlocked INVEST in high quality land EXPAND product offering MAINTAIN strong capital VALUE CREATION For personal use only in strategic locations across and geographic presence to appeal management • Good visibility of future earnings country to
Slide 14: Creating a future city: Flagstone
Creating a future city Flagstone | Where you belong | PEET
Slide 15: Greater Flagstone Priority Development Area
Greater Flagstone Priority Development Area For personal use only The largest residential priority Equivalent to development area Australia’s 20th in Australia largest city Page 10 | AGM 2023
Slide 16: Peet Flagstone City Project Snapshot
Peet Flagstone City Project Snapshot A 20 YEAR VISION For personal use only Highest lot sale Gross 100ha of Anchored by a $325,000. Development commercial town Health Precinct and Highest re-sale Value $4.1bn centre land plus a future passenger house $865,000 30 ha of school railway station sites Pa
Slide 17: Peet Flagstone City Project Snapshot
Peet Flagstone City Project Snapshot A 20 YEAR VISION For personal use only 12,000 30,000+ 1,200 10,800 new homes population residential residential settlements dwelling to date at 7.6% remaining to compound price develop growth Page 12 | AGM 2023
Slide 18: Artist's impression
For personal use only Page 13 | AGM 2023 Artist’s impression
Slide 19: Artist's impression
For personal use only Page 14 | AGM 2023 Artist’s impression
Slide 20: Flagstone City – Town Centre
Flagstone City – Town Centre For personal use only 20 hectare 100 hectare existing commercial Town Centre in Town Centre East 373,000 m² Commercial/ Non-Residential GFA Over 13,500m² GFA already developed 1,700 dwelling & accommodation units Achieving up to $400/m² for Town Centre land to date Page
Slide 21: University of Canberra Project – ACT
University of Canberra Project – ACT • Urban infill project comprising c.2,7001 dwellings with a GDV of c.$2.4 billion For personal use only - comprising a mix of townhouses and apartments • Located 6.5km from Canberra City and providing significant presence in the Belconnen Town Centre growth corri
Slide 22: University of Canberra – ACT
University of Canberra – ACT For personal use only Artist’s impression Page 17 | AGM 2023
Slide 23: University of Canberra – ACT
University of Canberra – ACT For personal use only Artist’s impression Page 18 | AGM 2023
Slide 24: New Projects Provide Medium Term Earnings Visibility
New Projects Provide Medium Term Earnings Visibility Pipeline of approximately 35,700 lots1 providing visibility of future earnings For personal use only FY24 – FY26 NEW PROJECT RELEASE SCHEDULE • Up to two new land community projects and six PROJECT STATE SEGMENT PROJECT LOTS3/ GDV PROJECT LAUNCH2
Slide 25: Group Outlook
Group Outlook Flexible delivery program in place to Focused on positioning the Group for take advantage of shortage of market growth through a prudent approach to For personal use only project delivery and identifying supply growth opportunities • Residential markets continue to adjust from their pe
Slide 26: Thank You
Thank For personal use only You peet.com.au Perth | Melbourne | Brisbane | Canberra | Adelaide
Slide 27: Disclaimer
Disclaimer For personal use only While every effort is made to provide accurate and complete information, Peet does not warrant or represent that the information in this presentation is free from errors or omissions or is suitable for your intended use. This presentation contains forward-looking sta