Gpt Group · ASX:GPT
Gpt — The GPT Group — Shareholder Meeting (May 2011)
32 slides from Gpt's shareholder meeting presentation, May 11, 2011
Slide 1: Annual General Meeting 2011
ANNUAL GENERAL weeIne2Q 1 1 we create and sustain environments that enrich people's lives. Wednesday 11 May 2011 The GPT Group
Slide 2: Rob Ferguson, Chairman
ANNUAL GENERAL wee? 0 1 1 Rob Ferguson Chairman BI
Slide 3: Our Strategy
Our 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 Indexed Price Performance 180 GPT 160 60.2% 140 120 21.1% AREIT 100 Index 80 May 09 Nov 09 May 10 Nov 10 May 11 GPT S&P/ASX200 AREIT Index Source: IRESS as at 3 May 2011 Note
Slide 5: Remuneration
Remuneration Restraint on 2010 executive remuneration Base remuneration increases capped at 3% in 2010, following salary freeze in 2009 Michael Cameron’s 2010 base pay maintained at 2009 level Maximum Short Term Incentive (STI) levels for all employees reduced Two new performance measures added to t
Slide 6: Board and management
Board and management Strengthened governance and capabilities Appointment of Gene Tilbrook Renewed approach based on rigorous assessment New senior management appointments Development plans and capability building 6
Slide 7: Rob Ferguson, Chairman
ANNUAL GENERAL wee? 0 1 1 Rob Ferguson Chairman BI
Slide 8: Michael Cameron, Chief Executive Officer
ANNUAL GENERAL weene2Q 1 1 Michael Cameron Chief Executive Officer and Managing Director
Slide 9: Reinvigorating GPT
Reinvigorating GPT A strategic journey towards best performance 9
Slide 10: 2010 Highlights
2010 Highlights Our scorecard was delivered Financial performance improved Focused on closing the gap to NTA Solid operational performance Major development completed Non core assets sold Capital allocation framework 10
Slide 11: 2010 Result Summary
2010 Result Summary Operating performance ahead of FY 2009 GPT Financial Summary 12 months to 31 Dec 2010 2009 Change Total Realised Operating Income ($m) 410.0 375.8 9% Statutory net profit/(loss) ($m) 707.3 (1,070.6) - ROI per ordinary security (cents)(1) 20.7 23.8 13% Distribution per ordinary se
Slide 12: 2010 Balance Sheet Summary
2010 Balance Sheet Summary Increase in NTA to $3.60 NTA per security up 4% GPT Balance Sheet As at 31 Dec 2010 2009 Improvement in debt profile Total assets ($m) 9,752 9,163 Reduction in average cost of debt from forecast 8.2% to Total borrowings ($m) 2,453 2,184 7.4% Net tangible assets 3.60 3.46 p
Slide 13: Core Portfolio
Core Portfolio 3.2% income growth with high occupancy Core portfolio performance As at 31 Dec Comparable Occupancy(2) Weighted Weighted 2010 income growth average lease average cap rate expiry(1) Retail 4.7% 99.9% NA 6.21% Office 1.6% 97.8% 5.2 yrs 7.14% Industrial 2.7% 98.4% 6.5 yrs 8.48% (1) WALE
Slide 14: Strategic Priorities 2011
Strategic Priorities 2011 A strategic journey towards best performance 1. Close the gap to NTA 2. Optimise capital allocation 3. Enhance growth potential 4. Equip employees for high performance 14
Slide 15: Growth
Growth Enhancing core rental growth Structured Funds Developments Additional rental growth management and revenue fees acquisitions sources Delivering: Total returns >9% per annum Average EPS Growth > CPI +1% per annum(1) Leading relative Total Shareholder Return (TSR) 15 (1) EPS defined as Realised
Slide 16: Outlook for 2011
Outlook for 2011 Retail: Improved sales outlook underpinned by economic, employment and wages growth Office: Prime vacancy reducing, reinforcing expectations for solid rental and capital growth Industrial: Improving tenant demand and limited uncommitted supply supports rental growth Guidance: EPS(1)
Slide 17: Reinvigorating GPT
Reinvigorating GPT In 2010 GPT delivered on its promise of Strength, Stability and Earnings Growth GPT has achieved realised operating income of $410m GPT has delivered on its 2010 objectives GPT is on track to being Australia’s “Best Performing” Property Group 17
Slide 18: Directors Report and Financial Statements
ANNUAL GENERAL weene2Q 1 1 ltem 1 Directors Report and Financial Statements
Slide 19: Resolutions
ANNUAL GENERAL weno 2 1 1 Item 2 Resolutions
Slide 20: Election of Mr Gene Tilbrook as a Director
ANNUAL GENERAL weene2O 1 1 Resolution 1 Election of Mr Gene Tilbrook as a Director
Slide 21: Resolution 1: Election of Mr Gene Tilbrook as a Director
Resolution 1 Election of Mr Gene Tilbrook as a Director To consider and, if thought fit, pass the following ordinary resolution of the Company: “That Mr Gene Tilbrook, having been appointed as a Director of the Company since the last general meeting and who ceases to hold office in accordance with r
Slide 22: Proxies Resolution 1
Proxies Resolution 1: Resolution of Company Number of For Against Open* votes 1,187,301,497 1,170,120,314 12,408,791 4,772,392 * Includes 3,138,224 votes in favour of the Chairman 22
Slide 23: Remuneration Report
ANNUAL GENERAL weeINeDO 1 1 Resolution 2 Remuneration Report a
Slide 24: 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 2010 be adopted”. Note: This Resolution is advisory only and do not bind the Directors, the Company or the Responsible
Slide 25: Proxies Resolution 2
Proxies Resolution 2: Resolution of Company Number of For Against Open* votes 1,186,873,618 1,161,121,329 21,130,013 4,622,276 * Includes 3,027,319 votes in favour of the Chairman 25
Slide 26: Directors' Remuneration
ANNUAL GENERAL weene2Q 1 1 Resolution 3 Directors’ Remuneration
Slide 27: Resolution 3: Directors' Remuneration
Resolution 3 Directors’ Remuneration To consider and, if thought fit, pass the following ordinary resolution of the Company: “That effective from the close of the Meeting, the total amount that may be paid in aggregate in any one year by the Company to Non-Executive Directors as remuneration for ser
Slide 28: Proxies Resolution 3
Proxies Resolution 3: Resolution of Company Number of For Against Open* votes 1,184,894,238 1,174,390,825 8,171,285 2,332,128 * Includes 765,370 votes in favour of the Chairman 28
Slide 29: Grant of Performance Rights
ANNUAL GENERAL weene2Q 1 1 Resolution 4 Grant of Performance Rights
Slide 30: 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 under
Slide 31: Proxies Resolution 4
Proxies Resolution 4: Resolution of Company and the Trust Company Number of For Against Open* votes 1,187,184,045 1,169,061,632 13,489,732 4,632,681 Trust Number of For Against Open* votes1 1,251,597,254 1,169,061,632 13,489,732 4,632,681 * Includes 3,028,890 votes in favour of the Chairman 1. The t
Slide 32: Discussion
ANNUAL GENERAL weenie? 0 1 1 Discussion