Cedar Woods Properties Limited · ASX:CWP

Cedar Woods Properties — Shareholder Meeting (November 2017)

34 slides from Cedar Woods Properties's shareholder meeting presentation, Nov 9, 2017

  1. Slide 1: 2017 Annual General Meeting

    Cedar Woods Presentation | 1 Cedar Woods Properties Limited 2017 Annual General Meeting 9 November 2017

  2. Slide 2: Agenda

    Cedar Woods Presentation | 2 Agenda 1 Chairman’s Address Mr William G Hames 2 Managing Director’s Review Mr Nathan J Blackburne 3 Formal Business  Ordinary Business: Consideration of financial report  Ordinary Resolution 1: Re-election of retiring director William G Hames  Ordinary Resolution 2:

  3. Slide 3: Chairman's Address

    Cedar Woods Presentation | 3 Chairman’s Address Chairman Mr William G Hames

  4. Slide 4: FY2017 Financial Performance Summary

    Cedar Woods Presentation | 4 FY2017 Financial Performance Summary FY17 FY16 Change Revenue $222.3m $175.2m 26.9% Net profit after tax $45.4m $43.6m 4.2% Earnings per share 57.6 cents 55.3 cents 4.2% Dividends per share, 100% franked 30.0 cents 28.5 cents 5.3% HIGHLIGHTS FOR FY2017 ↗ Seventh consecut

  5. Slide 5: Track record of growth and balance sheet strength

    Cedar Woods Presentation | 5 Track record of growth and balance sheet strength NPAT ($m) / Total Dividend (cps) Gearing (%) 100.0 43.6 45.4 80.0 42.6 40.3 36.3 30.0 60.0 28 28.5 Target 26 27.5 Gearing 40.0 25 – 75% 20.0 FY13 FY14 FY15 FY16 FY17 12.5 35.6 9.8 25.9 16.5 30.2 23.9 0.0 NPAT TOTAL DIVIDE

  6. Slide 6: Corporate Governance

    Cedar Woods Presentation | 6 Corporate Governance Appointment of independent Non-Executive Director Mrs Jane Muirsmith has strengthened the Board and broadened its expertise. Managing Director succession was planned and executed effectively, resulting in a smooth transition. Feedback from investors

  7. Slide 7: Agenda

    Cedar Woods Presentation | 7 Agenda 1 Chairman’s Address Mr William G Hames 2 Managing Director’s Review Mr Nathan J Blackburne 3 Formal Business  Ordinary Business: Consideration of financial report  Ordinary Resolution 1: Re-election of retiring director William G Hames  Ordinary Resolution 2:

  8. Slide 8: Managing Director's Review

    Cedar Woods Presentation | 8 Managing Director’s Review Managing Director Mr Nathan J Blackburne

  9. Slide 9: Portfolio Overview

    Cedar Woods Presentation | 9 Portfolio Overview  Significant, high quality development pipeline: » Strategically located projects near amenity and infrastructure. » 11,000+ lots/dwellings in pipeline across 31 projects. » 20+ additional mixed use/commercial sites at Williams Landing. » 8-10 years o

  10. Slide 10: Portfolio Overview: Presales by State

    Cedar Woods Presentation | 10 Portfolio Overview PRESALES BY STATE - Q1 NUMBER OF PRESALES BY PRODUCT – Q1 QLD 7% WA 28% VIC 65% Sales commencing from SA in 2H18

  11. Slide 11: New Phase of Growth

    Cedar Woods Presentation | 11 New Phase of Growth  Targeting strong medium term earnings growth: » Driven by current portfolio – not dependent on acquisitions. » 11 new projects contributing for the first time (FY18-FY20). » Sales across 4 states.  Well-placed to capitalise on WA market recovery.

  12. Slide 12: Queensland: Portfolio Overview

    Cedar Woods Presentation | 12 Queensland: Portfolio Overview Ellendale Ellendale  Stage 1 completed.  135 lots settled; 186 sales.  Stage 2 construction underway.  Display village opening H2 FY18.  Rezoning of the 160ha balance underway; expected FY18.  Price range $300,000 to $600,000. Wooloo

  13. Slide 13: South Australia: Portfolio Overview

    Cedar Woods Presentation | 13 South Australia: Portfolio Overview Glenside Glenside  3kms from Adelaide CBD.  Blue chip, highly sought after suburb.  Planning for 1,000 townhouses and apartments.  Site works underway.  Sales launch in H2 FY18. Port Adelaide  14km from Adelaide CBD.  500 dwell

  14. Slide 14: Victoria: Portfolio Overview

    Cedar Woods Presentation | 14 Victoria: Portfolio Overview  12 projects (7 currently at 40KM Williams Landing).  2,100 lots/dwellings. 20KM CARLINGFORD BONNIE ST. A 10KM BROOK  Projects catering for 1st, 2nd 5KM LEVESON STREET and subsequent home buyers, MELBOURNE and investors. CBD WILLIAMS LAND

  15. Slide 15: Victoria: Portfolio Overview cont.

    Cedar Woods Presentation | 15 Victoria: Portfolio Overview cont. St A St A (St Albans)  250+ townhouses and apartments.  Excellent presales.  Construction underway, contributing 1st time in FY18.  Price range $300,000 - $600,000. Jackson Green (Clayton South)  400+ townhouses and apartments. 

  16. Slide 16: Victoria: Williams Landing

    Cedar Woods Presentation | 16 Victoria: Williams Landing  10 years+ remaining. Oxford Apartments  Diverse mix of land, townhouses, apartments and commercial.  Residential neighbourhoods: Pipeline of over 500 lots/townhouses/apartments.  Town centre: Pipeline of approximately 550 apartments.  7-

  17. Slide 17: Williams Landing: Target HQ

    Cedar Woods Presentation | 17 Williams Landing: Target HQ  12,600m2 leased to Target for new HQ.  800+ employees.  Hacer appointed to construct.  Project running to program and within budget.  Completion expected early 2019.  Presold to Centuria Property Funds for $58.23m.  Settlement in FY19

  18. Slide 18: Western Australia: Portfolio Overview

    Cedar Woods Presentation | 18 Western Australia: Portfolio Overview 40KM  16 projects and approximately 7,000 lots. 20KM ARIELLA PRIVATE ESTATE 10KM  Projects catering for 1st, 2nd 5KM BUSHMEAD and subsequent home buyers, PERTH and investors. CBD HARRISDALE GREEN  Land subdivision and built KARMA

  19. Slide 19: Western Australia: Portfolio Overview cont.

    Cedar Woods Presentation | 19 Western Australia: Portfolio Overview cont. Bushmead  1,050 lots, strong margins, contributing 1st full year FY18.  Anticipated sales duration a further 7-9 years.  Price range $240,000 - $350,000 February 2017 Millars Landing  1,580 lots.  Construction underway, c

  20. Slide 20: Western Australia: Portfolio Overview cont.

    Cedar Woods Presentation | 20 Western Australia: Portfolio Overview cont. Mangles Bay Mangles Mangles Bay Bay  Mixed use, marina-based project.  Attractive, established location.  Federal environmental approvals achieved.  Planning delays experienced - rezoning anticipated mid FY18.  Early cons

  21. Slide 21: Outlook

    Cedar Woods Presentation | 21 Outlook Positive outlook underpinned by pre-sales of $310m, up 35% on last year ($230m). Development program is on track. Earnings anticipated to be skewed significantly to the second half of FY18, with first half similar to last financial year. Given the difficulty of

  22. Slide 22: Priorities and Opportunities

    Cedar Woods Presentation | 22 Priorities and Opportunities Develop and maintain a high performance culture. Strive for operational excellence, across all areas of the Company. Pursue future growth in a strategic and focussed manner. Maintain strong financial discipline.

  23. Slide 23: CWP: Investment Proposition

    Cedar Woods Presentation | 23 CWP: Investment Proposition  Track record of earnings growth and attractive fully franked dividend yield.  Strong and proven management team, high performance culture.  National portfolio, diversified by product type, price point and geography.  On the cusp of a new

  24. Slide 24: Cedar Woods Presentation | 24

    Cedar Woods Presentation | 24

  25. Slide 25: Agenda

    Cedar Woods Presentation | 25 Agenda 1 Chairman’s Address Mr William G Hames 2 Managing Director’s Review Mr Nathan J Blackburne 3 Formal Business  Ordinary Business: Consideration of financial report  Ordinary Resolution 1: Re-election of retiring director William G Hames  Ordinary Resolution 2:

  26. Slide 26: 1. Ordinary Business

    Cedar Woods Presentation | 26 1. Ordinary Business To receive and consider the financial statements for the year ended 30th June 2017 and the accompanying directors’ report, directors’ declaration and auditor’s report.

  27. Slide 27: Poll procedure

    Cedar Woods Presentation | 27 Poll procedure A poll will be conducted for Ordinary Resolutions 1-5

  28. Slide 28: Ordinary Resolution 1: Re-election of William G Hames

    Cedar Woods Presentation | 28 2. Ordinary Resolution 1 Re-election of retiring director That William G Hames, having retired in accordance with the company’s constitution and, being eligible, offers himself for re-election, be re-elected as a director of the company. Summary of 286 proxy votes recei

  29. Slide 29: Ordinary Resolution 2: Re-election of Jane M Muirsmith

    Cedar Woods Presentation | 29 3. Ordinary Resolution 2 Re-election of retiring director That Jane M Muirsmith, 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 286 proxy votes rece

  30. Slide 30: Ordinary Resolution 3: Remuneration Report

    Cedar Woods Presentation | 30 4. Ordinary Resolution 3 Remuneration Report That the remuneration report that forms part of the directors’ report for the financial year ended 30 June 2017, be adopted. Summary of 286 proxy votes received totaling 27,873,471 shares # % For 26,239,904 95.76 Against 298,

  31. Slide 31: Ordinary Resolution 4: Performance Rights for Nathan Blackburne

    Cedar Woods Presentation | 31 5. Ordinary Resolution 4 Approval for the issue of Performance Rights under the LTI Plan to Mr Nathan Blackburne or his nominee That, for the purposes of Listing Rule 10.14, Chapter 2E of the Corporations Act and for all other purposes, Shareholders authorise and approv

  32. Slide 32: Ordinary Resolution 5: Retirement benefits for Paul Sadleir

    Cedar Woods Presentation | 32 6. Ordinary Resolution 5 Approval of retirement benefits for the retired Managing Director, Mr Paul Sadleir That, for the purposes of Section 200E of the Corporations Act and for all other purposes, Shareholders authorise and approve the giving of the following benefits

  33. Slide 33: Agenda

    Cedar Woods Presentation | 33 Agenda 1 Chairman’s Address Mr William G Hames 2 Managing Director’s Review Mr Nathan J Blackburne 3 Formal Business  Ordinary Business: Consideration of financial report  Ordinary Resolution 1: Re-election of retiring director William G Hames  Ordinary Resolution 2:

  34. Slide 34: Office contact details

    Cedar Woods Presentation | 34 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 E: email@cedarwoods.com.au E: melbourne@cedarwoods.com.au Brisbane Office Adelaide Office Level 6, 12 Creek S

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