Developing the future

Precinct Properties New Zealand Annual Results

August 2017

Agenda

Highlights

Page 3

Section 1 - Strategy

Page 4

Section 2 - Major initiatives

Page 12

Section 3 - Financial results and capital management

Page 21

Section 4 - Operations and market

Page 30

Section 5 - Conclusion and outlook

Page 44

Precinct Properties New Zealand Limited

Scott Pritchard, CEO George Crawford, COO Richard Hilder, CFO

Note: All $ are in NZD

PRECINCT PROPERTIES, ANNUAL RESULTS PRESENTATION - Page 2

Highlights
  • 100% occupancy
  • Completion of Wynyard Quarter - Stage One

    - Ahead of feasibility - 18% profit

  • Advancing on strategy

    • $900 million in committed developments

    • Total office pre-commitment increased to 80%

  • Commercial Bay returns enhanced

    • Forecast profit on completion lifted to 31%

    • Retail space 46% committed

  • Advancing Bowen Campus

    • Office 100% committed

    • Works remain on budget and programme

  • Growing profitability

    • 2.7% increase in net operating earnings

    • $162.1 million in net profit after tax (NPAT)

  • Considering a subordinated convertible note issue

- offer of up to $150 m

PRECINCT PROPERTIES, ANNUAL RESULTS PRESENTATION - Page 3

100%

Occupancy

8.7 years

Portfolio weighted average lease term

7.5%

Blended yield on cost on current developments

$77.5 million

Portfolio revaluation uplift

$213 million

Expected Commercial Bay profit

Section 1

Strategy

Precinct Properties New Zealand Ltd. published this content on 17 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 August 2017 21:31:02 UTC.

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