Gpt Group · ASX:GPT
Gpt — The GPT Group — Shareholder Meeting (May 2012)
33 slides from Gpt's shareholder meeting presentation, May 7, 2012
Slide 1: GPT Annual General Meeting 2012
GPT Annual General Meeting 2012 7 MAY 2012 The GPT Group
Slide 2: Rob Ferguson, Chairman
GPT Annual General Meeting 2012 | GPT The GPT Group Rob Ferguson Chairman
Slide 3: GPT Strategy
GPT Strategy Focused on delivering secure, reliable returns Our Strategy We own and actively manage a diversified portfolio of quality Australian property assets, delivering long term benefits For our Investors… We are a secure, reliable investment targeting superior risk-adjusted returns over time
Slide 4: Indexed Price Performance
Security price performance Relative outperformance vs property index GPT Security Price vs S&P/ASX AREIT Index since May 2009 180 GPT Indexed Price Performance 160 60% 140 120 25% 100 AREIT Index 80 Apr 09 Oct 09 Apr 10 Oct 10 Apr 11 Oct 11 GPT S&P/ASX200 AREIT Index Source: IRESS as at 4 May 2012 N
Slide 5: Remuneration
Remuneration Higher hurdles for long term incentive scheme Base remuneration capped at an average of 3% Freeze on Non-Executive Directors fees for 4th successive year Short term incentive level reduced for below target performance Higher performance hurdles for the 2012 long term incentive
Slide 6: Rob Ferguson, Chairman
GPT Annual General Meeting 2012 | GPT The GPT Group Rob Ferguson Chairman
Slide 7: Michael Cameron, CEO and Managing Director
GPT Annual General Meeting 2012 | GPT The GPT Group Michael Cameron CEO and Managing Director
Slide 8: Reinvigorating GPT
Reinvigorating GPT A strategic journey towards best performance 8
Slide 9: Business performance
Business performance Delivering on our promises Strong operating performance Active capital management Well positioned for growth 9
Slide 10: 2011 annual result summary
2011 annual result summary Operating earnings per security up 8.1% Financial Summary Year to 31 December 2011 2010 Total realised operating income (ROI) ($m) 438.8 410.0 Statutory net profit ($m) 246.2 707.3 ROI per ordinary security (cents) (1) 22.4 20.7 Distribution per ordinary security (cents)(1
Slide 11: 2011 performance
2011 performance Strong returns for investors For investors, GPT offers a secure, reliable investment targeting superior risk-adjusted returns over time Above market returns Targets 2011 Total securityholder returns 12 months to 31 Dec 2011 EPS growth > CPI+1% 8.1%(1) - well ahead of 10.5% target
Slide 12: 2011 balance sheet summary
2011 balance sheet summary Well positioned balance sheet Balance Sheet As at 31 December 2011 2010 Total assets ($m) 9,279 9,752 Total borrowings ($m) 2,144 2,453 Net tangible assets per security ($) 3.59 3.60 Gearing (%)(1) 22.9 24.9 Look through gearing (%)(1) 24.4 29.9 Interest cover ratio (x) 4.
Slide 13: Core portfolio
Core portfolio 3.6% comparable income growth Portfolio Summary As at 31 December Retail Office Industrial Total assets $5.3bn $2.6bn $0.8bn Comparable income growth 3.6% 4.0% 2.8% Average lease expiry 4.7 years 4.7 years 6.2 years Average capitalisation rate 6.21% 7.07% 8.44% Assets as at 31 Decembe
Slide 14: 2012 Strategic Priorities
2012 Strategic Priorities Optimising the business, building sustainable growth 1 2 Strategically allocate Optimise GPT capital 3 4 Equip employees for Build sustainable high performance growth 14
Slide 15: Growth
Growth Platforms to accelerate performance Other Development + Funds management + revenue sources + Asset acquisitions 15
Slide 16: GPT Management
GPT Management Focused on high performance and shaping the future Michael Anthony O’Brien Mark Fookes McNulty CFO Investment Development Management Matthew Faddy Nicholas Harris Property & Asset Leadership Team Funds Management Management Judy Phil Taylor Barraclough People & Strategy & Performance
Slide 17: Outlook for 2012
Outlook for 2012 Targeting EPS(1) growth of at least CPI + 1% for 2012 Payout ratio of no less than 80% of ROI (1) EPS defined as Realised Operating Income (ROI) per ordinary security. Assumes CPI is 3%. 17
Slide 18: Michael Cameron, CEO and Managing Director
GPT Annual General Meeting 2012 | GPT The GPT Group Michael Cameron CEO and Managing Director
Slide 19: Director's Report and Financial Statements
(rT The GPT Group GPT Annual General Meeting 2012 Item 1 Director's Report and Financial Statements
Slide 20: Resolutions
GPT Annual General Meeting 2012 | GPT The GPT Group Item 2 Resolutions
Slide 21: Re-election of Mr Eric Goodwin as a Director
The GPT Group GPT Annual General Meeting 2012 | GPT Resolution 1 Re-election of Mr Eric Goodwin as a Director
Slide 22: Resolution 1: Re-election of Mr Eric Goodwin as a Director
Resolution 1 Re-election of Mr Eric Goodwin as a Director To consider and, if thought fit, pass the following ordinary resolution of the Company: “That Mr Eric Goodwin, who retires in accordance with rule 49 of the Company’s Constitution, being eligible, be re-elected as a Director of the Company”
Slide 23: Proxies Resolution 1
Proxies Resolution 1: Resolution of Company For Against Open* Number of votes 1,265,441,143 3,593,103 3,720,434 1,272,754,680 99.43% 0.28% 0.29% * Includes 2,302,398 votes in favour of the Chairman 23
Slide 24: Remuneration Report
GPT Annual General Meeting 2012 | GPT The GPT Group Resolution 2 Remuneration Report
Slide 25: Resolution 2: Remuneration Report
Resolution 2 Remuneration Report To consider and, if thought fit, pass the following ordinary resolution of the Company: “That the Remuneration Report for the year ended 31 December 2011 be adopted”. Note: This Resolution is advisory only and do not bind the Directors, the Company or the Responsib
Slide 26: Proxies Resolution 2
Proxies Resolution 2: Resolution of Company For Against Open* Number of votes 1,256,072,733 12,552,348 3,629,532 1,272,254,613 98.73% 0.99% 0.29% * Includes 2,261,828 votes in favour of the Chairman 26
Slide 27: Proportional Takeover Provisions
GPT Annual General Meeting 2012 | GPT The GPT Group Resolution 3 Proportional Takeover Provisions
Slide 28: Resolution 3: Proportional Takeover Provisions
Resolution 3 Proportional Takeover Provisions To consider and, if thought fit, pass the following ordinary resolution of the Company: “That the Constitutions of the Company and the Trust be amended by: - in the case of the Constitution of the Company, renewing rules 79 and 80 as set out in the Exp
Slide 29: Proxies Resolution 3
Proxies Resolution 3: Resolution of Company and the Trust Company For Against Open* Number of votes 1,265,374,507 3,314,133 3,785,793 1,272,474,433 99.44% 0.26% 0.30% Trust For Against Open* Number of votes 1,265,374,507 3,314,133 3,785,793 1,272,474,433 99.44% 0.26% 0.30% * Includes 2,366,711 votes
Slide 30: Grant of performance rights
The GPT Group GPT Annual General Meeting 2012 | GPT Resolution 4 Grant of performance rights
Slide 31: Resolution 4: Grant of performance rights
Resolution 4 Grant of performance rights To consider and, if thought fit, pass the following ordinary resolution of the Company and the Trust: “That approval is given for the Company to grant to the Company’s Chief Executive Officer and Managing Director, Mr Michael Cameron, Performance Rights und
Slide 32: Proxies Resolution 4
Proxies Resolution 4: Resolution of Company and the Trust Company For Against Open* Number of votes 1,254,168,435 8,321,571 3,628,982 1,272,544,912 99.05% 0.65% 0.29% Trust For Against Open* Number of votes 1,254,168,435 8,321,571 3,628,982 1,272,544,912 99.05% 0.65% 0.29% * Includes 2,269,032 votes
Slide 33: Discussion
GPT Annual General Meeting 2012 | GPT The GPT Group Discussion