1Q18 Metrics – Sales of Occupation Rights

Summerset Group Holdings Limited
Level 27 Majestic Centre, 100 Willis St, Wellington
PO Box 5187, Wellington 6140
Phone: 04 894 7320 | Fax: 04 894 7319
Website: www.summerset.co.nz


NZX & ASX RELEASE

6 APRIL 2018

1Q18 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group achieved 143 sales for the quarter ending 31 March 2018, comprising 68 new
sales and 75 resales.
Summerset CEO Julian Cook said that new sale settlements achieved for the first quarter of
2018 were predominantly from selling homes completed and delivered at the end of 2017.

“Serviced apartments (whose occupancy is more needs-based) made up a large proportion of
the retirement units held at year end, and these typically have a slightly longer sell-down period
than our villas and apartments.”

“Retirement unit deliveries for 2018 are weighted towards the second half of the year with new
sales volumes throughout the remaining quarters of 2018 expected to progressively increase as
we deliver new homes for which we will sell occupation rights. We are on track to deliver 450
new homes over 2018.”

“We are seeing good volumes of resales across our villages, and have seen settlements track at
normal levels for the first quarter” said Mr Cook.


YTD18 SALES OF OCCUPATION RIGHTS

1Q18
Actual
New sales 68
Resales 75
Total 143


FY17 SALES OF OCCUPATION RIGHTS

1Q17
Actual
2Q17
Actual
3Q17
Actual
4Q17
Actual
FY17
Actual
New sales 97 82 97 106 382
Resales 74 70 58 98 300
Total 171 152 155 204 682

NOTES:
 Quarterly metrics on occupation right sales are provided by the 10
th
of the month following the end of each
quarter.
 Occupation right sales volumes represent the number of occupation rights settled in the period, and differ from
retirement unit deliveries which represents the number of new homes for which construction was completed in the
period.
 The quarterly sales metrics provided may not necessarily reflect NZ IFRS financial performance for the
corresponding period. In particular, key items in the income statement, such as the fair value movement of
investment property, are dependent on several variables, of which one is occupation right sales. NZ IFRS
financial performance is calculated for the periods ending 30 June and 31 December each year.
ENDS

For investor relations enquiries: For media enquiries:
Scott Scoullar Michelle Brooker
Chief Financial Officer Senior Communications Advisor
scott.scoullar@summerset.co.nz michelle.brooker@summerset.co.nz
04 894 7320 or 029 894 7317 04 830 1106 or 021 225 9624


ABOUT SUMMERSET

 Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 23 villages completed or in development across the country. In addition,
Summerset has six sites for development in Avonhead (Christchurch), Richmond (Nelson),
Kenepuru (Wellington), Lower Hutt (Wellington), St Johns (Auckland) and Parnell
(Auckland), bringing the total number of sites to 29.
 It provides a range of living options and care services to more than 4,700 residents.
 Four-time winner of Retirement Village of the Year and Silver Award winner in the Reader’s
Digest Quality Service Awards 2017.
 The Summerset Group has villages in Aotea, Casebrook, Dunedin, Ellerslie, Hamilton,
Hastings, Havelock North, Hobsonville, Karaka, Katikati, Levin, Manukau, Napier, Nelson,
New Plymouth, Palmerston North, Paraparaumu, Rototuna, Taupo, Trentham, Wanganui,
Warkworth and Wigram.