1Q20 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

9 April 2020

1Q20 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group reports 141 sales for the quarter ending 31 March 2020, comprising 70 new
sales and 71 resales.
Summerset CEO Julian Cook said, “We have maintained our sales for the first quarter at normal
levels and have a good pipeline of sales. It is still too early to tell the impact of COVID-19 on our
next quarter.”
Summerset’s first quarter included one week of the Level 4 Alert lockdown period.
“Our first quarter was buoyed by good pre-sales at Kenepuru (Wellington) and 40% of available
units were sold at our new Te Awa village (Napier) in the first week of release,” Mr Cook said.
Mr Cook added the company was pleased with the contracted stock pipeline.
As of 31 March, Summerset has a further 98 new sales contracts in place (20 more than at 31
December 2019) and 73 resales contracts in place (19 more than at 31 December 2019).
As noted previously, Summerset continues to ensure it has strong financial management
disciplines in place with close to $400m of unutilised funding capacity available.
For more details on Summerset’s COVID-19 response please visit the website
summerset.co.nz/about-us/covid-19/

YTD20 SALES OF OCCUPATION RIGHTS

1Q20
New sales 70
Resales 71
Total 141

FY19 SALES OF OCCUPATION RIGHTS

1Q19 2Q19 3Q19 4Q19 FY19
New sales 71 65 77 116 329
Resales 66 76 88 93 323
Total 137 141 165 209 652


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
Chief Financial Officer & 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 31 villages completed or in development across the country. In addition,
Summerset has eight sites for development in Milldale (Auckland), Parnell (Auckland),
Prebbleton (Canterbury), Rangiora (Canterbury), Waikanae (Kapiti Coast), Blenheim
(Marlborough), Cambridge (Waikato) and Lower Hutt (Wellington), plus two properties in
Victoria, Australia, bringing the total number of sites to 41.

• It provides a range of living options and care services to more than 5,500 residents. The
Summerset Group has villages in Aotea, Avonhead, Bell Block, Casebrook, Dunedin,
Ellerslie, Hamilton, Hastings, Havelock North, Hobsonville, Karaka, Katikati, Kenepuru,
Levin, Manukau, Napier, Nelson, New Plymouth, Palmerston North, Papamoa Beach,
Paraparaumu, Richmond, Rototuna, St Johns, Taupo, Te Awa, Trentham, Wanganui,
Warkworth, Whangarei and Wigram.