3Q20 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 October 2020


3Q20 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group reports 225 sales of occupation rights for the quarter ending 30 September
2020, comprising 100 new sales and 125 resales.
Summerset CEO Julian Cook said sales in the third quarter were in part driven by demand for
post-lockdown safety and security in retirement villages.
“Our priority for Q3 has been keeping COVID-19 out of our villages. If there are resurgences,
such as in Auckland recently, we are ready to act to keep our residents and staff safe. That’s our
number one priority,” Mr Cook said.
“We are pleased with the Q3 results but are still working out of the impact of the pandemic and
the lockdowns. There remains heightened health and business risk,” he said.
This quarter saw the first residents move into Summerset’s new villages in Papamoa Beach
(Tauranga) and Te Awa (Napier). Earthworks also started at Summerset’s St Johns site in
Auckland, which received resource consent in December 2019.
Looking ahead to Q4, Summerset will open the main building at its Rototuna retirement village,
providing village facilities, serviced apartments, a care centre and memory care centre.
COVID-19 prevention measures (including extra care staff) continue in Summerset villages,
most particularly in Auckland. There have not been any cases of COVID-19 in Summerset
villages to date.
ENDS


YTD20 SALES OF OCCUPATION RIGHTS

1Q20

2Q20 3Q20
New sales 70 58 100
Resales 71 65 125
Total 141 123 225


FY19 SALES OF OCCUPATION RIGHTS

1Q19
Actual
2Q19
Actual
3Q19
Actual
4Q19
Actual
FY19
Actual
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.


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 nine sites for development in Half Moon Bay (Auckland), Milldale
(Auckland), Parnell (Auckland), Prebbleton (Canterbury), Rangiora (Canterbury),
Waikanae (Kapiti Coast), Blenheim (Marlborough), Cambridge (Waikato) and Lower Hutt
(Wellington), plus two sites in Victoria, Australia, bringing the total number of properties to
42.

• It provides a range of living options and care services to more than 5,700 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.