Stride Property Group · NZX:SPG
Stride Property — Shareholder Meeting (August 2016)
27 slides from Stride Property's shareholder meeting presentation, Aug 29, 2016
Slide 1: Stride Property Group Annual Meetings 29 August 2016
Stride Property Group Annual Meetings 29 August 2016 Stride Property Limited — Annual Results Presentation for the year ended 31 March 2016 – 26 May 2016
Slide 2: Agenda
Agenda A. Chairman’s Address Tim Storey – Chairman B. Chief Executive’s Address Peter Alexander – Chief Executive C. Financial Statements Tim Storey – Chairman D. Ordinary Resolution for Stride Tim Storey – Chairman E. Ordinary Resolutions for SIML Tim Storey – Chairman F. General Business Tim Store
Slide 3: A. Chairman's Address
A. Chairman’s Address (* f if z . -
Slide 4: Stride's vision
Stride’s vision Our vision is to build New Zealand’s best performing listed property group, investing in the best places, managed by the best team, and, most importantly, delivering the best performance Stride Property Group - Annual Meetings - 29 August 2016 4
Slide 5: Highlights: Financial Performance
Highlights (Prior period 31 March 2015 figures in brackets) Financial Performance of Stride Property Limited to 31 March 2016 • Operating profit before other income and income tax of $44.7m ($39.6m) • Net profit after income tax of $92.4m ($68.8m) • Distributable profit¹ after income tax of $37.1m o
Slide 6: Highlights: Portfolio
Highlights (Prior period 31 March 2015 figures in brackets) Portfolio highlights as at 31 March 2016 • Net 5.2% property portfolio valuation increase¹ Net valuation increase • Net Tangible Assets (NTA) backing per share increased to $1.97 ($1.81) • Occupancy at 99.6% (96.6%) +5.2% • Weighted Average
Slide 7: Stapled Structure
Stapled Structure Purpose Provides greater flexibility for investment structure and facilitates and enables • growth in real estate investment management (“REIM”) business • Ensures Stride is “fit for purpose” to deliver on its strategy, while retaining its PIE status Structure • Stride Property Lim
Slide 8: FY17 First Quarter Cash Dividend
FY17 First Quarter Cash Dividend • First quarter cash dividend for FY17 of 2.72 cps in line with guidance of 9.96 cps for the full year for the Stapled Group as provided in the Explanatory Memorandum • Imputation credits of 0.7958 cps • Record date of 13 September, with payment to shareholders on 21
Slide 9: B. Chief Executive's Address
B. Chief Executive’s Address 9
Slide 10: New Corporate Identity "STRIDE"
New Corporate Identity “STRIDE” • “The taking of deliberate steps towards a known destination” • Name captures the culture of the company, the vision shared by the team and the ambitious goals that we have achieved to date • To stride purposefully is synonymous with setting a goal and going after it
Slide 11: Financial Performance
Financial Performance Consolidated Group Change Actual Actual 31 Mar 2016 31 Mar 2015 ($ millions) ($ millions) $ millions % Net rental income 69.3 57.2 12.0 21.0 Management fee income 1.8 1.5 0.3 23.7 Corporate expenses (8.4) (6.1) (2.3) (36.8) Operating profit before net finance expenses, other in
Slide 12: Portfolio Summary
Portfolio Summary Overview As at 31 Mar 2016 As at 31 Mar 2015 Properties 59 41 Tenants 415 281 Net Lettable Area (m2) 432,337 334,694 WALT (years) 7.9 5.1 Occupancy Rate (by area) 99.6% 96.6% Portfolio Value $1,274.8m $872.4m Stride Property Group - Annual Meetings - 29 August 2016 12
Slide 13: Stride Stapled Structure
Stride Stapled Structure NZX Listing Shares stapled and 1 Share 1 Share transferable together 1 Stapled structure Stride REIM business Property (SIML) 1 Property owning REIM business Management managing Stride company holding all of contract properties and other Stride’s properties property portfoli
Slide 14: Investore
Investore Key metrics Properties throughout New 39 Zealand Tenants 75 Net Lettable Area 173,503 (sqm) Occupancy rate 99.7% Net Contract Rental $42.9m WALT (years) 14.8 Independent $641.4m valuation Investore will comprise a portfolio of 39 Large Format Retail properties in the main urban areas throu
Slide 15: Stride
Stride • Stride had experienced phenomenal growth, particularly in the context of the recent history of the New Zealand listed property sector • At the beginning of the 2016 year Stride owned or managed assets valued at $972m • Our combined portfolio under management will be over $2 billion – approx
Slide 16: Diversified NZ Property Trust
Diversified NZ Property Trust • Wholesale investment vehicle managed by SIML, acquired the Westfield Queensgate Shopping Centre in Wellington and the Westfield Chartwell Shopping Centre in Hamilton for $445m on 22 August 2016 • This transaction marked a milestone in Stride Property Group’s approach
Slide 17: Development Projects
Development Projects NorthWest Shopping Centre NorthWest Two • Opened 1 October 2015 • Due to open on 29 September 2016 • Features 100 retail stores, 1,100 car parks, a 8,000m² • Will comprise four separate buildings offering 7,700m² of Farmers flagship store and a 4,200m² Countdown retail, dining a
Slide 18: C. Financial Statements
C. Financial Statements 18
Slide 19: Financial Statements
Financial Statements • Questions on the financial statements for the year ended 31 March 2016? Stride Property Group - Annual Meetings - 29 August 2016 19
Slide 20: D. Ordinary Resolution for Stride Property Limited
D. Ordinary Resolution for Stride Property Limited 20
Slide 21: Resolution
Resolution • Resolution – Re-appointment of auditor “That the re-appointment of PricewaterhouseCoopers as auditor of Stride be recorded and the directors be authorised to fix the auditor’s fees and expenses.” Stride Property Group - Annual Meetings - 29 August 2016 21
Slide 22: E. Ordinary Resolutions for Stride Investment Management Limited
E. Ordinary Resolutions for Stride Investment Management Limited 22
Slide 23: Resolution 1
Resolution 1 • Resolution 1 – Appointment of auditor “That PricewaterhouseCoopers be appointed as auditor of SIML and the directors be authorised to fix the auditor’s fees and expenses.” Stride Property Group - Annual Meetings – 29 August 2016 23
Slide 24: Resolution 2
Resolution 2 • Resolution 2 – Appointment of director “That Michael Peter Stiassny be re-elected as a director of SIML pursuant to clause 22.3 of the Constitution of SIML.” Stride Property Group - Annual Meetings – 29 August 2016 24
Slide 25: Resolution 3
Resolution 3 • Resolution 3 – Appointment of director “That David Gregory van Schaardenburg be re-elected as a director of SIML pursuant to clause 22.3 of the Constitution of SIML.” Stride Property Group - Annual Meetings – 29 August 2016 25
Slide 26: F. General Business
F. General Business 26
Slide 27: Thank you
Thank you Important Notice: The information in this presentation is an overview and does not contain all information necessary to make an investment decision. It is intended to constitute a summary of certain information relating to the performance of Stride Property Limited for the twelve months en
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