Cedar Woods Properties Limited · ASX:CWP
Cedar Woods Properties — Shareholder Meeting (November 2020)
31 slides from Cedar Woods Properties's shareholder meeting presentation, Nov 4, 2020
Slide 1: Annual General Meeting 2020
Annual General Meeting 2020 For personal use only
Slide 2: Agenda
Agenda For personal use only 1 Chairman’s Address Mr William Hames 2 Managing Director’s Review Mr Nathan Blackburne 3 Formal Business • Ordinary Business: Consideration of financial report • Special Resolution 1: Adoption of new Constitution • Ordinary Resolution 1: Re-election of retiring director
Slide 3: Chairman's Address
Chairman’s Address For personal use only Chairman Mr William G Hames
Slide 4: Financial: FY20 Full Year Summary
Financial: FY20 Full Year Summary For personal use only RETURN TOTAL NET PROFIT ON EQUITY SHAREHOLDER AFTER TAX RETURN $20.9m 2016 2017 2018 2019 2020 TOTAL REVENUE 5.5% Below company -2.4% Outperformed All Ordinaries of -7.2%, $260.7m benchmark of10% Small Industrials of -7.4%, 2016 2017 2018 2019
Slide 5: Relative Market Performance: Total Shareholder Return
Relative Market Performance: Total Shareholder Return For personal use only PEER GROUP CWP S&P ASX 300 AVERAGE FY20 (2.4%) (17.8%) (7.6%) VALUES FY19-20 1.1% (8.4%) 1.5% We do what we say we’ll do We are people developers We think about tomorrow We strive to succeed FY18-20 6.2% (2.3%) 5.2% FY16-20
Slide 6: About Cedar Woods: Strategy
About Cedar Woods: Strategy For personal use only To grow our national project Geography Good geographic spread of well-located projects in 4 states portfolio, diversified by geography, product type and price point, so that it continues to hold broad Product Type Range of housing lots, townhouses, a
Slide 7: Cedar Woods: ESG Report
Cedar Woods: ESG Report For personal use only Greater focus on ESG in FY20 Enhanced reporting Strong governance structures Good workforce diversity outcomes Climate change mitigation initiatives embedded in product design & delivery processes Active member in the communities in which we
Slide 8: Cedar Woods Non-Executive Director: Ron Packer
Cedar Woods Non-Executive Director: Ron Packer For personal use only 8
Slide 9: Cedar Woods Board
9 For personal use only Cedar Woods Board
Slide 10: Agenda
Agenda For personal use only 1 Chairman’s Address Mr William Hames 2 Managing Director’s Review Mr Nathan Blackburne 3 Formal Business • Ordinary Business: Consideration of financial report • Special Resolution 1: Adoption of new Constitution • Ordinary Resolution 1: Re-election of retiring director
Slide 11: Managing Director's Review
Managing Director’s Review For personal use only PURPOSE Managing Director Mr Nathan J Blackburne
Slide 12: FY20 Overview
FY20 Overview For personal use only VALUES COVID 19 response PURPOSE Recovery acceleration initiatives Geography Our purpose is to create long-term value for shareholders enacted through the development of vibrant communities Robust company strategy that is standing test of time Vibrant comm
Slide 13: Update on Strategic Priorities
Update on Strategic Priorities For personal use only FY20 PROGRESS Financial Strength FY20 result impacted by COVID-19; Strong performance Optimising performance through disciplined capital relative to peers and indices; Strong bank support; Gearing management, a commercial focus, cost minimisation
Slide 14: Projects Update: Glenside, SA - apartments
Projects Update: Glenside, SA - apartments For personal use only PURPOSE Geography Our purpose is to create long-term value for shareholders through the development of vibrant communities. VISION VALUES Our vision is to be the We do what we say we’ll do best Australian property We are people develop
Slide 15: Projects Update: Glenside, SA - townhouses
Projects Update: Glenside, SA - townhouses For personal use only PURPOSE Geography Our purpose is to create long-term value for shareholders through the development of vibrant communities. VISION VALUES Our vision is to be the We do what we say we’ll do best Australian property We are people develop
Slide 16: Projects Update: Incontro, Subiaco, WA
Projects Update: Incontro, Subiaco, WA For personal use only 41 PURPOSE townhouses Geography Our purpose is to create & 98 long-term value for shareholders apartments through the development of vibrant communities. Sales launch Oct / Nov 20 VISION VALUES Strong Our vision is to be the enquiry be
Slide 17: Projects Update: Incontro, Subiaco, WA
Projects Update: Incontro, Subiaco, WA For personal use only PURPOSE Geography Our purpose is to create long-term value for shareholders through the development of vibrant communities. VISION VALUES Our vision is to be the We do what we say we’ll do best Australian property We are people developers
Slide 18: Market Conditions: Property Sector
Market Conditions: Property Sector For personal use only Demand impacted by social restrictions, low buyer confidence, economic conditions, immigration. Impact on housing has not been as much as expected with median house price drops modest so far. New supply has been limited in recent years a
Slide 19: Market Conditions: By State
Market Conditions: By State For personal use only Market Outlook Melbourne Brisbane Perth Adelaide • Conditions currently subdued due to COVID-19 & • Qld is potentially the best placed state in the • Land sales strong in early FY21 as supported • Mature & relatively stable market with lower social r
Slide 20: Earnings Growth: Acquisitions
Earnings Growth: Acquisitions 5 acquisitions in past 2 years: For personal use only • Wollert, VIC PURPOSE Geography • Burpengary, QLD – conditional Our purpose is to create acquisition long-term value for shareholders • Subiaco, WA through the development of vibrant communities. • Hamersley, WA –
Slide 21: Outlook
Outlook For personal use only Sector drivers of population growth, economic growth and unemployment are currently weak Government stimulus is underpinning demand for housing however COVID-19 is expected to impact sales and potentially delivery programs over FY21 WA portfolio benefitting from signifi
Slide 22: Agenda
Agenda For personal use only 1 Chairman’s Address Mr William Hames 2 Managing Director’s Review Mr Nathan Blackburne 3 Formal Business • Ordinary Business: Consideration of financial report • Special Resolution 1: Adoption of new Constitution • Ordinary Resolution 1: Re-election of retiring director
Slide 23: 1. Ordinary Business
1. Ordinary Business For personal use only To receive and consider the financial statements for the year ended 30th June 2020 and the accompanying directors’ report, directors’ declaration and auditor’s report. 23
Slide 24: 2. Special Resolution
2. Special Resolution 1 For personal use only That the document titled ‘Constitution’ tabled at the Meeting and signed by the Chairman for the purposes of identification, be adopted as the constitution of the Company in place of the current Constitution, with effect from the conclusion of the Meetin
Slide 25: 3. Ordinary Resolution
3. Ordinary Resolution 1 For personal use only Re-election of retiring director That Mrs Jane M Muirsmith FCA, GAICD, having retired in accordance with the company’s constitution and, being eligible, offers herself for re-election, be re-elected as a director of the company. Summary of 212 proxy vot
Slide 26: 4. Ordinary Resolution
4. Ordinary Resolution 2 For personal use only Remuneration report That the remuneration report that forms part of the directors’ report for the financial year ended 30 June 2020, be adopted. Summary of 212 proxy votes received totaling 53,977,203 shares # % For 32,307,816 93.78 Against 307,869 0.89
Slide 27: 5. Ordinary Resolution
5. Ordinary Resolution 3 For personal use only Approval for the issue of Zero-Price Options (ZEPOs) under FY20 deferred STI Plan to Mr Nathan Blackburne or his nominee That, for the purposes of Listing Rule 10.14 and for all other purposes, shareholders of the Company authorise and approve the issue
Slide 28: 6. Ordinary Resolution
6. Ordinary Resolution 4 For personal use only Approval for the issue of Performance Rights under FY21 LTI Plan to Mr Nathan Blackburne or his nominee That, for the purposes of Listing Rule 10.14 and for all other purposes, shareholders of the Company authorise and approve the issue of 127,666 Perfo
Slide 29: Agenda
Agenda For personal use only 1 Chairman’s Address Mr William Hames 2 Managing Director’s Review Mr Nathan Blackburne 3 Formal Business • Ordinary Business: Consideration of financial report • Special Resolution 1: Adoption of new Constitution • Ordinary Resolution 1: Re-election of retiring director
Slide 30: Close of meeting
For personal use only Close of meeting
Slide 31: For personal use only
Perth Office Melbourne Office Ground Floor, 50 Colin Street Level 1, 476 St Kilda Road West Perth WA 6005 Melbourne VIC 3004 T: (08) 9480 1500 T: (03) 9820 1777 For personal use only E: perth@cedarwoods.com.au E: melbourne@cedarwoods.com.au Brisbane Office Adelaide Office Level 6, 12 Creek Street 22
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