ALE Property : 2019 AGM - Managing Director's Address Opens in a new Window

ALE Property Group

Annual General Meeting - 29 October 2019

Breakfast Creek Hotel, Brisbane, QLD

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Contents

• Highlights
• FY19 Results
• Properties and Development Updates
• Capital Management
• FY20 Outlook
• Attractive Investment Proposition
• Attachments

Crows Nest Hotel, Sydney, NSW

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Group Highlights

Year to 30 June 2019

Property			Capital			Equity
Portfolio			Structure			Performance
$1,163.2m			41.5%			$28.3m
Statutory property values			Gearing			Distributable profit
5.09%			2.7 years			20.90 cps
Average property yield			Average debt maturity			Distribution
9.3 years			6.4 years		81.32%
Weighted average lease expiry			Hedge maturity			Distribution tax deferred
4.5%		4.26%			$998.4m
Passing rental growth			All up cash interest rate			ASX market capitalisation
100%			Baa2			20.1% p.a.
Occupancy			Investment grade rating			16 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 2019

In addition to the weighted average lease expiry term, there are four 10 year options for ALH to extend (83 of 86 properties)

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Financial Results

Year to 30 June 2019

Hamilton Hotel, Hamilton, Brisbane 4

Property Highlights

Year to 30 June 2019

Property Revenue

• $60.2m, up 3.7% on pcp
• 10% rent increases on 36 properties
• 43 other properties are subject to determination

Property Valuations

• Total property values increased by 2.4% to $1,163.2m (average yield of 5.09%)
• DCF methodology valuations of 34 properties equivalent to a 4.61% yield
• Demand for pub property investments remains strong

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