3Q19 Metrics – Sales of Occupation Rights

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


NZX & ASX RELEASE

8 October 2019

3Q19 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group reported 165 sales for the quarter ending 30 September 2019, comprising 77
new sales and 88 resales.
Summerset CEO Julian Cook said total sales were aligned with expectations for the third quarter
and resales were performing very well.
Mr Cook said new sales maintained the momentum reported in the first half.
“We have seen the opening of new villages in Avonhead (Christchurch) and Richmond
(Nelson/Tasman) this quarter. There are strong presales for our new village in Kenepuru
(Wellington) and we look forward to welcoming residents there in the fourth quarter.”
“The demand for Summerset’s retirement living remains at good levels across the country and
village occupancy in completed villages remains high,” said Mr Cook.


YTD19 SALES OF OCCUPATION RIGHTS

1Q19
Actual
2Q19
Actual
1H19
Actual
3Q19
Actual
2019 YTD
Actual
New sales 71 65 136 77 213
Resales 66 76 142 88 230
Total 137 141 278 165 443

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 28 villages completed or in development across the country. In addition,
Summerset has 10 sites for development in New Zealand: Milldale (Auckland), Parnell
(Auckland), St Johns (Auckland), Rangiora (Canterbury), Waikanae (Kapiti Coast),
Blenheim (Marlborough), Pohutukawa Place (New Plymouth), Whangarei (Northland),
Cambridge (Waikato) and Lower Hutt (Wellington), and one site for development in
Melbourne, Victoria, bringing the total number of sites to 39.
• It provides a range of living options and care services to more than 5,000 residents.
• 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, Papamoa Beach,
Paraparaumu, Richmond, Rototuna, Taupo, Te Awa, Trentham, Wanganui, Warkworth
and Wigram.