LDR Capital Property Fund · ASX:LED
LDR Capital Property Fund — Elanor Investors Group — FY2025 Earnings Presentation
17 slides from LDR Capital Property Fund's earnings presentation, 2025
Slide 1: FY25 Results Overview
FY25 Results Overview Elanor Investors Group ASX: ENN 55 Elizabeth St, QLD
Slide 2: Contents
Contents Contents 1 Business Update 2 FY25 Financial Results 3 Funds Under Management 4 Balance Sheet Acknowledgement of Country Elanor is proud to work with the communities in which we operate, to manage and improve properties on land across Australia and New Zealand. We pay our respects to the Tra
Slide 3: Business Update
1 Business Update Harris St, NSW
Slide 4: Stabilising the Business
Business Update Stabilising the Business Stabilising the Group’s balance sheet • Balance sheet debt o Senior secured refinanced with Keyview ($85m facility – settled in Nov 2024) o Capital Notes refinanced with Noteholders ($40m – approved in Feb 2025) • Debt reduction strategy from asset realisatio
Slide 5: FY25 Financial Results
2 FY25 Financial Results Riverton Forum, WA
Slide 6: Focus on Stabilising the Balance Sheet
FY25 Results Overview Focus on Stabilising the Balance Sheet Maintaining recurring funds management income and EBITDA FY25 Results $46.1m $9.0m $(8.9)m Recurring Funds Recurring Funds Core Earnings Management Management EBITDA Income (excl. acq. fees) FY24: $49.4m FY24: $12.5m FY24: $12.8m $5.5bn $0
Slide 7: Core Earnings
FY25 Financial Results FY25 FY24 Core Earnings Core Earnings $m $m Management Fees 39.0 40.7 Development and Leasing Fees 5.7 5.5 Hotel Operator Fees 1.4 3.1 Funds management income noting $47.1m reduced transactional and performance fee income Recurring Funds Management Income Acquisition/Transacti
Slide 8: Stabilised recurring funds management income
FY25 Financial Results Stabilised recurring funds management income Funds Management Income $60m $56.2m $49.5m 6.8 $47.2m $50m 3.1 1.0 $40m 8.3 5.5 1.4 5.7 $46.1m Recurring funds management 4.7 $30m income, a decrease of 6.7% on FY24 5.8 $20m 40.7 39.0 23.5 $10m - FY23 FY24 FY25 $39.0m Management fe
Slide 9: Distributions from co-investments
FY25 Financial Results Distributions from co-investments Reduced co-investment distributions, with Fund distributions retained for certain funds ENN Co- ENN Co- ENN Distribution ENN Distribution Investment Investment FY25 FY24 Comments 30 June 2025 30 June 2025 % $m $m $m Office and Healthcare Elano
Slide 10: Funds Under Management
3 Funds Under Management 55 Elizabeth St, QLD
Slide 11: Focus on Core Funds Management Platform
Funds Under Management Focus on Core Funds Management Platform $5.5bn of AUM at 30 June 2025 Retail Office Hotels, Tourism & Leisure Healthcare Industrial $2.2bn $2.2bn $0.5bn $0.3bn $0.3bn $1.4bn CLC mandate $0.1bn ADIC mandate $1.1bn CLC and ADIC mandates $0.5bn Elanor Commercial $0.3bn CLC mandat
Slide 12: Asset realisation program
Funds Under Management Asset realisation program Approximately $430 million in assets realised during the period, with capital returned to fund investors, including Elanor FY25 Asset realisations Settlement Sale Price Asset divestments during the period ($m) • All Elanor Property Income Fund (EPIF)
Slide 13: Funds Under Management
Funds Under Management Asset realisations $(271)m Funds Under Management Executing on asset realisation program and focusing on core retail, office, healthcare, leisure and industrial real estate sectors Increase Decrease Total $6,400m Asset realisations $(429)m $6,200m $6,000m $35m $5,960m $(100)m
Slide 14: Balance Sheet
4 Balance Sheet Broadmeadows, VIC
Slide 15: Balance Sheet
Balance Sheet Balance Sheet Balance Sheet1 30-Jun-25 $m $ Mvt 30-Jun-24 $m Assets Receivables increased by $8.2m during the year, Cash 7.7 (5.3) 13.0 1 reflecting short-term working capital support provided Receivables 48.1 1 8.2 39.9 to the Hotel managed fund in response to softer Other current ass
Slide 16: Receivables from managed funds
Balance Sheet Receivables from managed funds Recovery through fund asset realisation programs 30 June 30 June Receivables 2025 2024 Comments $m $m Managed funds with asset realisations Elanor Hotel Accommodation Fund (EHAF) 18.5 10.5 Recovery through asset realisation program and improved fund perfo
Slide 17: Disclaimer
Elanor Investors Group Disclaimer This presentation has been authorised for release by the Elanor Investors Group Board of Directors. The information in this presentation has been obtained from and based on sources believed by the Group to be reliable. To the maximum extent permitted by law, the Gro
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