2Q19 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

8 JULY 2019

2Q19 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group made 141 sales for the quarter ending 30 June 2019, comprising 65 new
sales and 76 resales.
Summerset CEO Julian Cook said total sales for the second quarter were stable, with slightly
more sales than the first three months of 2019.
Mr Cook said property market sentiment had stabilised and demand for Summerset’s Auckland
villages had been a feature of the quarter.
“Auckland’s Ellerslie and Hobsonville villages are our top selling villages so far this year,” he
said.
Good volumes of new sales were also expected from three new villages opening shortly.

“As with recent years, completion of new homes is weighted to the second half of 2019 and we
expect sales to reflect that with higher volumes over the second half.”

Summerset will open three new villages this year in Avonhead (Christchurch), Richmond
(Nelson/Tasman), and Kenepuru (Wellington).

New sale stock levels remained flat over the first half of 2019, with sales levels in line with the
volume of homes completed.

Resales stock levels were consistent with historical levels and village occupancy in completed
villages remains high.


YTD19 SALES OF OCCUPATION RIGHTS

1Q19
Actual
2Q19
Actual
1H19
Actual
New sales 71 65 136
Resales 66 76 142
Total 137 141 278


FY18 SALES OF OCCUPATION RIGHTS

1Q18
Actual
2Q18
Actual
1H18
Actual
3Q18
Actual
4Q18
Actual
FY18
Actual
New sales 68 77 145 82 112 339
Resales 75 79 154 66 81 301
Total 143 156 299 148 193 640

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 Jenny Bridgen
CFO & Deputy CEO Communications Manager
scott.scoullar@summerset.co.nz jenny.bridgen@summerset.co.nz
029 894 7317 021 408 215


ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 26 villages completed or in development across the country. In addition,
Summerset has 12 sites for development in Milldale (Auckland), Parnell (Auckland), St
Johns (Auckland), Rangiora (Canterbury), Waikanae (Kapiti Coast), Blenheim
(Marlborough), Te Awa (Napier), Pohutukawa Place (New Plymouth), Whangarei
(Northland), Papamoa (Tauranga), Cambridge (Waikato) and Lower Hutt (Wellington),
bringing the total number of sites to 38.
• It provides a range of living options and care services to more than 5,000 residents.
• New Zealand’s largest builder of retirement units in 2018.
• Silver Award winner of the Reader’s Digest Quality Service Awards in 2019.
• The Summerset Group has villages in Aotea, Avonhead, Casebrook, Dunedin, Ellerslie,
Hamilton, Hastings, Havelock North, Hobsonville, Karaka, Katikati, Kenepuru, Levin,
Manukau, Napier, Nelson, New Plymouth, Palmerston North, Paraparaumu, Richmond,
Rototuna, Taupo, Trentham, Wanganui, Warkworth and Wigram.