2014 ANNUAL GENERAL MEETING AGENDA Formal Business - - PowerPoint PPT Presentation

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2014 ANNUAL GENERAL MEETING AGENDA Formal Business - - PowerPoint PPT Presentation

Apr 27, 2023 390 likes •997 views

2014 ANNUAL GENERAL MEETING AGENDA Formal Business Introductions Call to Order Presentation of Financial Statements Fixing the Size of the Board Election of Directors Appointment of Auditors Management

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2014

ANNUAL GENERAL MEETING

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AGENDA

  • Formal Business

 Introductions  Call to Order  Presentation of Financial Statements  Fixing the Size of the Board  Election of Directors  Appointment of Auditors

  • Management Presentations
  • Q&A
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Gordon Clanachan

Edmonton, AB

Ross Grieve

Edmonton, AB

Andrew Melton

Calgary, AB

Timothy Melton

Edmonton, AB

Catherine Roozen

Edmonton, AB

Allan Scott

Edmonton, AB

Ralph Young

Edmonton, AB

Eric Newell

Edmonton, AB

INTRODUCTIONS – DIRECTORS

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Brian Baker

President & CEO

Jonathan Chia

CFO

Darin Rayburn

Executive Vice President

Naomi Stefura

VP, Finance

Jason Fjeldheim

VP, Community Development North

Dennis Inglis

VP, Community Development South

Brett Halford

VP, Recreational Properties

INTRODUCTIONS – EXECUTIVE TEAM

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AGENDA

  • Formal Business

 Introductions  Call to Order  Presentation of Financial Statements  Fixing the Size of the Board  Election of Directors  Appointment of Auditors

  • Management Presentations
  • Q&A
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DIRECTOR NOMINEES

Gordon Clanachan

Edmonton, AB

Ross Grieve

Edmonton, AB

Andrew Melton

Calgary, AB

Timothy Melton

Edmonton, AB

Catherine Roozen

Edmonton, AB

Allan Scott

Edmonton, AB

Ralph Young

Edmonton, AB

Eric Newell

Edmonton, AB

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AGENDA

  • Formal Business

 Introductions  Call to Order  Presentation of Financial Statements  Fixing the Size of the Board  Election of Directors  Appointment of Auditors

  • Management Presentations
  • Q&A
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OUR

STORY

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MANAGEMENT PRESENTATIONS

  • Financial Highlights

Jonathan Chia – CFO

  • Strategic & Operations

Highlights

Brian Baker – President & CEO

  • Shareholder Questions

Brian Baker

President & CEO

Jonathan Chia

CFO

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FINANCIAL HIGHLIGHTS

Jonathan Chia, CFO

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FORWARD LOOKING STATEMENTS

This presentation contains statements that are forward-looking. Forward-looking statements are disclosures regarding possible events, conditions, or results of operations that are based on assumptions about future economic conditions, courses of action and include future-oriented financial information. These statements represent Melcor’s intentions, plans, expectations, and beliefs and are based on our experience and our assessment of historical and future trends, and the application of key assumptions relating to future events and circumstances. Future-looking statements may involve, but are not limited to, comments with respect to our strategic initiatives for 2015 and beyond, future development plans and objectives, targets, expectations of the real estate, financing and economic environments, our financial condition or the results of

  • r outlook of our operations.

By their nature, forward-looking statements require assumptions and involve risks and uncertainties related to the business and general economic environment, many beyond our control. There is significant risk that the predictions, forecasts, valuations, conclusions or projections we make will not prove to be accurate and that

  • ur actual results will be materially different from targets, expectations, estimates or intentions expressed in

forward-looking statements. We caution readers of this document not to place undue reliance on forward- looking statements. Assumptions about the performance of the Canadian and US economies and how this performance will affect Melcor’s business are material factors we consider in determining our forward-looking

  • statements. For additional information regarding material risks and assumptions, please see the discussion

under Business Environment and Risks in our annual MD&A. Investors and others should carefully consider these factors, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements. Except as may be required by law, we do not undertake to update any forward-looking statement, whether written or oral, made by Melcor or on its behalf.

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2014 FINANCIAL HIGHLIGHTS

($000s) 2014 2013 Change Revenue 313,009 303,742 3.1% Fair value adjustment 12,828 47,571 (73.0%) Net income 100,719 98,623 2.1% Funds from operations 85,477 57,859 47.7% Shareholders’ equity 901,335 769,231 17.2% Total assets 1,863,296 1,727,933 7.8%

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2014 FINANCIAL HIGHLIGHTS

$ per share 2014 2013 Change Basic earnings 3.18 3.24 (1.9%) Funds from operations 2.70 1.90 42.1% Book value 27.22 25.03 8.7% Average share price 22.98 19.04 20.7% Dividends paid 0.58 0.50 16.0%

* Regular dividend only. In 2013, a $0.50 special dividend was also paid following the REIT IPO.

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A RECORD YEAR

  • 4th consecutive record for revenue
  • Gross margin improvement to 48%
  • Competitive financing environment
  • Strong financial position

Positioned for the future.

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Brian Baker, President & CEO

STRATEGIC HIGHLIGHTS

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since January 2014

OIL PRICE

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2014

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total asset value

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raw land

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under management

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touched

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touched

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$- $50 $100 $150 $200 $250 $300 $350

2010 2011 2012 2013 2014

$- $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000

2010 2011 2012 2013 2014

$- $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 $2,000

2010 2011 2012 2013 2014

$- $10 $20 $30 $40 $50 $60 $70 $80

2010 2011 2012 2013 2014

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SHOP PLAY WORK LIVE

LAND DEVELOPMENT PROPERTY DEVELOPMENT INVESTMENT PROPERTIES RECREATIONAL PROPERTIES RESIDENTIAL DEVELOPMENT REIT

CAPITAL

Our Value Chain

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COMMUNITY DEVELOPMENT

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PROPERTY DEVELOPMENT

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INVESTMENT PROPERTIES

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REIT

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SHOP PLAY WORK LIVE

LAND DEVELOPMENT PROPERTY DEVELOPMENT INVESTMENT PROPERTIES RECREATIONAL PROPERTIES RESIDENTIAL DEVELOPMENT REIT

CAPITAL

Our Value Chain

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revenue

2014

HIGHLIGHTS

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income

2014

HIGHLIGHTS

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growth

2014

HIGHLIGHTS

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margin

2014

HIGHLIGHTS

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  • ver 5 years

2009 2014 $0.25 $0.58

2014

HIGHLIGHTS

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from operations

2014

HIGHLIGHTS

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2014

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RAW LAND ACTIVE LAND DEVELOPED

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single family

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commercial development

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played

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Revenue & Earnings Since 1986

WITH MAJOR OIL CORRECTIONS

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$- $50 $100 $150 $200 $250 $300 $350

2010 2011 2012 2013 2014

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2015

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$- $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000

2010 2011 2012 2013 2014

Protect & Grow Shareholder Investment

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by division by country

2000 2014 2000 2014

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Protect Shareholder Investment Grow Shareholder Value Distribute Profit to Shareholders Care for Our Exceptional Team

FUNDAMENTAL GOALS

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Traditional Values The Golden Rule

Deep & Lasting Relationships

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OUR

STORY

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QUESTIONS & ANSWERS