Property for Industry Limited · NZX:PFI
Property for Industry — Shareholder Meeting (June 2013)
14 slides from Property for Industry's shareholder meeting presentation, Jun 24, 2013
Slide 1: Welcome to the PFI Special and Annual Meetings
BETTER TOGETHER PROPERTY FOR INDUSTRY WELCOME TO THE PFI SPECIAL AND ANNUAL MEETINGS P | 24 Fune 2013
Slide 2: Annual Meeting Agenda
Annual Meeting Agenda 1. Board address 2. Shareholder questions and answers 3. Financial statements and auditor’s report 4. Resolutions: - Re-election of Peter Masfen - Auditor’s fees and expenses 4. General business 5. Close of meeting and refreshments 24 JUNE 2013 PROPERTY FOR INDUSTRY SPECIAL AND
Slide 3: Annual Meetings
24 JUNE 2013 PROPERTY FOR INDUSTRY SPECIAL AND ANNUAL MEETINGS 3
Slide 4: 2012 Overview: Activity
2012 Overview: Activity Strategy: reduce vacancy, strengthen lease expiry profile, acquire accretive industrial properties • More than 50 leasing transactions completed • Three industrial properties acquired for $37.8m • Two non-core properties disposed of for $16.6m 24 JUNE 2013 PROPERTY FOR INDUST
Slide 5: 2012 Overview: Portfolio metrics
2012 Overview: Portfolio metrics Portfolio metrics evidence the successful implementation of PFI’s strategy for 2012 31 DEC 2011 31 DEC 2012 15 JUN 2013 Number of properties 49 50 50 Number of tenants 89 86 85 Contract rent $30.2m $32.6m $33.2m Occupancy 95.6% 97.4% 98.1% Weighted average lease term
Slide 6: 2012 Overview: Results
2012 Overview: Results Cash returns challenged but total returns positive • Operating earnings down $2.0m or 10.5% • Dividends down 0.575 cps or 8.0% • Positive portfolio revaluation $12.3m or 3.3% uplift • NTA per share up 5 cps or 4.6% • 12 month total return 11.8% • Return since inception 8.4% PA
Slide 7: 2013: Highlights to date
2013: Highlights to date Continued focus on implementing PFI’s strategy • 25% of contract rent leased or reviewed to date • Increase in contract rent & occupancy, WALT maintained • 15 Copsey Place redevelopment fully tenanted • 6b Donnor Place expansion land development committed 24 JUNE 2013 PROPER
Slide 8: Annual Meetings
24 JUNE 2013 PROPERTY FOR INDUSTRY SPECIAL AND ANNUAL MEETINGS 8
Slide 9: Annual Meetings
24 JUNE 2013 PROPERTY FOR INDUSTRY SPECIAL AND ANNUAL MEETINGS 9
Slide 10: Annual Meetings
24 JUNE 2013 PROPERTY FOR INDUSTRY SPECIAL AND ANNUAL MEETINGS 10
Slide 11: Resolutions
Resolutions Resolution 1: That Peter Masfen be re-elected as a director of PFI. Resolution 2: That the directors are authorised to fix the fees and expenses of the auditors, BDO Auckland. 24 JUNE 2013 PROPERTY FOR INDUSTRY SPECIAL AND ANNUAL MEETINGS 11
Slide 12: Annual Meetings
24 JUNE 2013 PROPERTY FOR INDUSTRY SPECIAL AND ANNUAL MEETINGS 12
Slide 13: Annual Meetings
24 JUNE 2013 PROPERTY FOR INDUSTRY SPECIAL AND ANNUAL MEETINGS 13
Slide 14: Disclaimer
Disclaimer This information in this presentation is provided as at 24 June 2013 and includes information extracted from an Information Memorandum in relation to the proposed merger which is dated 22 May 2013. Please refer to the Information Memorandum for further detail. Terms used in this presentat
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