ALE Property : 2021 AGM - Managing Directors Presentation

Published: 2021-12-01 17:21:19 ET LEP.AX

onlyuseAnnual General Meeting 2021

Th rsday 2 December 2021 personalr

r personal use only

Today's Agenda

Annual General

Now

Meetings

Break

Scheme Meetings

11AM

2

FY21 Financial Highlights as at 30 June 2021

$179.2m

$3.71

only

Statutory profit

Net tangible assets

after tax

per stapled security

use

+794.0% on FY20

+24.0% on FY20

24.2%

$34.4m

Margin above book

Distributable

value for six

income

personalr

properties sold

+13.0% on FY20

21.5c

36.4%

Distribution

Gearing ratio

per security

+2.8% on FY20

-490 bps on FY20

3

onlyuseFinancial Results personalr

4

Financial Performance

Strong profit growth based on rental onlydeterminations, CPI linked rents and strong investment property market

• Property revenue increased due to:

- Rent determinations received in Sept 2020 - CPI increase on determined rent for FY19

and FY20

use- Annual CPI increases for FY21

• Fair value increments to investment properties due to adopted yields decreasing 49 bps and increased passing net rents

• D ring the year 4 properties were sold and settled achieving prices 22.5% above book values

personal- Management expenses increased due to:

- Legal costs in relation to the challenge to the Victorian rental determination

- CEO transition costs

- All management positions filled for the whole year - Increased insurance costs

r

FY21

FY20

Change

($'000)

($'000)

($'000)

(%)

Property revenue

62,473

61,408

1,065

1.7%

Other revenue

99

301

(202)

(9.4%)

Total Revenue

62,572

61,709

863

1.4%

Fair value increments to investment properties

141,301

10,930

130,371

1,192.8%

Fair value increments to derivatives

6,091

-

6,091

-

Profit on sale of investment properties

4,230

-

4,230

-

Total other income

151,622

10,930

140,692

1,287.2%

Total revenue and other income

214,194

72,639

141,555

194.9%

Land tax

(3,329)

(3,313)

16

0.5%

Management expenses

(7,888)

(6,148)

(1,740)

130.9%

Finance costs

(23,540)

(25,856)

2,316

(8.9%)

Fair value decrements to derivatives

-

(17,306)

17,306

-

Income tax expense

(266)

7

(273)

-

Profit after income tax

179,171

20,023

159,148

794.0%

5

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Disclaimer

ALE Property Group published this content on 01 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2021 22:20:09 UTC.