2Q22 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

11 July 2022


2Q22 METRICS – SALES OF OCCUPATION RIGHTS
Summerset Group is pleased to report 232 sales for the quarter ending 30 June 2022,
comprising 122 new sales and 110 resales.
Summerset has now achieved 511 sales for 1H22, the second highest first half ever.
1H22 new sales of villas (182) were supported by 221 deliveries (all villas) over this period.
Summerset is on track to deliver approximately 600 homes in FY22. Demand remains strong,
with our resale villages maintaining low levels of uncontracted stock and presales continue to
track at high levels.
Summerset CEO Scott Scoullar said the result was very pleasing, particularly with Omicron
dominating most of the half.
“We’re very pleased to see our sales and demand remain high during a turbulent six months for
New Zealand. Despite the arrival of Omicron and a downturn in the housing market our
retirement living offering is still very attractive to older New Zealanders and they continue to join
our villages around the country” said Mr Scoullar.
“We continue to see good diversification of sales across the country with 48% of sales coming
from outside the Auckland, Wellington and Canterbury regions. We also look forward to
welcoming our first residents into our Prebbleton village in Christchurch in Q3 2022.”
Summerset has started construction at three new sites in 2022 (Blenheim, Cambridge and
Waikanae) and is continuing construction at 13 other sites around New Zealand.
ENDS

YTD22 SALES OF OCCUPATION RIGHTS

1Q22 2Q22
New sales 167 122
Resales 112 110
Total 279 232


FY21 SALES OF OCCUPATION RIGHTS

1Q21 2Q21 3Q21 4Q21 FY21
New sales 148 154 117 121 540
Resales 127 116 82 113 438
Total 275 270 199 234 978

NOTES:
• 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:
Will Wright Louise McDonald
Chief Financial Officer Senior Communications Advisor
will.wright@summerset.co.nz louise.mcdonald@summerset.co.nz
021 490 251 021 246 3793


ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 32 established villages across New Zealand and 9 in planning or
development, including proposed sites at Half Moon Bay (Auckland), Milldale (Auckland),
Parnell (Auckland), Rangiora (Canterbury), and Kelvin Grove (Palmerston North).
• Summerset also has five sites in Victoria, Australia.
• Summerset provides a range of living options and care services to 7,000 residents.