Gowing Bros. Ltd. · ASX:GOW
Gowing Bros — Shareholder Meeting (November 2016)
14 slides from Gowing Bros's shareholder meeting presentation, Nov 21, 2016
Slide 1: 148th Annual General Meeting
For personal use only 1 4 8 th A n n u a l G e n e r a l M e e t i n g 21 November 2016
Slide 2: Investment Philosophy
2016 AGM | Investment Philosophy For personal use only The Company’s focus is to preserve and grow the value of its underlying financial and real assets and to grow net income from ordinary activities as the principal source of income to pay ordinary dividends. Gowings invests across the different a
Slide 3: 40 Year Return
2016 AGM | 40 Year Return For personal use only Source: Bloomberg and Andex Charts
Slide 4: 9.8% Total Shareholder Return during FY 2016
2016 AGM | 9.8% Total Shareholder Return during FY 2016 For personal use only Net Assets per Share (before tax on unrealised gains) $4.10 $4.02 $3.90 $3.77 $3.70 $3.50 $3.32 $3.30 $3.10 $2.99 $2.90 $2.83 $2.70 $2.50 2012 2013 2014 2015 2016 * Prior year net assets per share between 2012 to 2015 have
Slide 5: Movement in Net Assets per Share
2016 AGM | 9.8% Total Shareholder Return during FY 2016 For personal use only Movement in Net Assets per Share (before tax on unrealised gains) $4.20 $4.10 - $0.12 $4.00 $0.37 $3.90 + = $3.80 $4.02 $3.70 $3.77 $3.60 $3.50 31 July 2015 Portfolio Return Dividends Paid 31 July 2016
Slide 6: Increase in Net Profit After Tax
2016 AGM | 5 Year Increase in Net Profit After Tax For personal use only Net Profit After Tax ($million) 25 $22.0 20 $19.1 15 $14.1 10 $7.3 $6.0 5 - 2012 2013 2014 2015 2016
Slide 7: Dividends per Share
2016 AGM | Investment Portfolio For personal use only 5 Year Dividends per Share 12.5c $7,000,000 12.0c 12.0c 12.0c $6.4m $6,500,000 12.0c 11.5c $5.8m $5.8m $6,000,000 11.5c $5,500,000 11.0c 11.0c $4.9m $5,000,000 10.5c $4.5m $4,500,000 10.0c $4,000,000 2012 2013 2014 2015 2016 DPS Dividends Distrib
Slide 8: Investment Portfolio July 2016
2016 AGM | Investment Portfolio 31 July 2016 For personal use only Other Property Equity Investments 2016 $14.0 m Cash Boundary Bend $10.1m $14.9 m Carlton Investments $5.5m Hydration Pharmaceuticals $2.7m ANZ Banking Group $2.6m Westpac Banking Corporation $2.5m Pacific Coast Shopping Centres 2016
Slide 9: Port Central Shopping Centre
2016 AGM | Port Central Shopping Centre For personal use only Option acquired over adjoining land to undertake feasibility into centre expansion.
Slide 10: Kempsey Central Shopping Centre
2016 AGM | Kempsey Central Shopping Centre For personal use only Evaluating Private Public Partnership proposal to construct a cinema on top of the centre co-funded by government grant funding.
Slide 11: Coffs Central Shopping Centre
2016 AGM | Coffs Central Shopping Centre For personal use only Hotel Development Application DA approval for 4,000m2 of new retail and office space. Basement carpark under construction. City Square upgrade due to Level 1 internal mall commence in May 2017. reconfiguration planned for 2017. Intersect
Slide 12: Moonee Marketplace
2016 AGM | Moonee Marketplace For personal use only Gym, Swim School, Childcare Centre and 4 specialties leased during the year. Ongoing leasing and capital upgrade program due for completion in June 2017.
Slide 13: New Investments and Opportunities
2016 AGM | New Investments and Opportunities For personal use only 1. Lyons Road, Coffs Harbour 165 lot residential subdivision in ($8.5m) 2. Jetty foreshore, Coffs Harbour Prime 3,000m2 apartment site ($3m) 3. Organic Lamb Farm and Stud Under negotiation. 4. Direct Private Equity Under negotiation.
Slide 14: Questions
For personal use only 2016 AGM | Questions