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ALE Property Group
Annual General Meeting 17 November 2020
Breakfast Creek Hotel, Brisbane, QLD
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Group Highlights
Year to 30 June 2020
Property | Capital | Equity | ||||
Portfolio | Structure | Performance | ||||
$1,174.2m | 41.3% | $30.4m | ||||
Statutory property values | Gearing | Distributable profit | ||||
5.08% | 2.4 years | 20.90 cps | ||||
Average property yield | Average debt maturity | Distribution | ||||
5.4 years | 49.42% | |||||
8.3 years* | ||||||
Weighted average lease expiry | Hedge maturity | Distribution tax deferred | ||||
4.11% | $973.0m | |||||
0.92% | ||||||
Passing gross rental growth | All up cash interest rate | ASX market capitalisation | ||||
100% | Baa2 | 18.9% p.a. | ||||
Occupancy | Investment grade rating | 17 year total return |
Capitalisation rates, lease terms, interest rates, maturity terms and rental growth rates are all weighted averages Specific definitions are on other pages or in the statutory accounts
Results are for the year ending or as at 30 June 2020
In addition to the weighted average lease expiry term, there are four 10 year options for ALH to extend (83 of 86 properties) *As at 30 June 2020
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Post balance date events
Year to 30 June 2020
2018 Rental Determinations and Legal Proceedings
- Received September 2020; overall increase 4.4%
- ALE has commenced proceedings in the Supreme Court of Victoria to set aside the 19 Determinations for properties in Victoria
Updated property valuations
All 86 properties were revalued as at 31 October 2020, to take into account rental determinations received
- Overall increase of 4.4%
- The valuations and estimated uncapped/uncollared rent announced today do not take into account the potential impact of the Victorian legal proceedings
New Managing Director
Guy Farrands commenced on 1 October 2020
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ALE's 17 Years of Equity Performance
Outperformance
- Total return is the annual compound return (IRR) for the number of years ending 30 June 2020
- Includes ASX market price of $4.97 as at 30 June 2020 and reinvestment of distributions and 2009 renunciation payment
- ALE, All Ordinaries Accumulation Index and UBS S&P REIT 300 Index data sourced from ASX, UBS and ALE
- An investment in ALE at IPO in 2003 of $1.00 has accumulated value at 30 June 2020 of $17.67
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ALE Property Group published this content on 17 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2020 22:52:02 UTC