3Q24 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 2024


3Q24 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group reported 289 sales for the quarter ending 30 September 2024, comprising
129 new sales and 160 resales.

Summerset CEO Scott Scoullar said “Total sales for Q3 were up 11 percent on the same time
last year, with resales increasing 26 percent year-on-year.”

Mr Scoullar said Summerset continues to sell homes despite the challenging economic
conditions and is assisted by having 15 villages selling new homes across different locations in
New Zealand.

“We are seeing a good balance of sales throughout the country with 55 percent of sales coming
from outside Auckland, Wellington and Christchurch during this quarter.

“The economy was still extremely difficult in Q3, with a slow property market, weak consumer
confidence and inflation continuing to have an impact. Despite this we’ve continued to manage
through.

“Our sales show that we still have highly motivated prospective residents, and we’ve worked
hard to bring them into our villages. We’re seeing positive signs too with an interest rate cut (and
further cuts anticipated) bringing more optimism to the market.”

The first stage of Summerset’s flagship St Johns village was delivered on time as expected this
quarter, a major milestone for the company.

“The first of the St Johns’ buildings was handed over in August, and the second building (which
includes the care centre, café, bar, theatre and other resident amenities) was completed at the
end of September.

“We are delighted to have welcomed our first residents into Summerset St Johns in October too.
We’re looking forward to introducing this premium village experience to our residents,” said Mr
Scoullar.

ENDS


YTD24 SALES OF OCCUPATION RIGHTS

1Q24 2Q24 3Q24 YTD24
New sales 134 156 129 419
Resales 121 177 160 458
Total 255 333 289 877

FY23 SALES OF OCCUPATION RIGHTS

1Q23 2Q23 3Q23 4Q23 FY23
New sales 115 126 133 186 560
Resales 95 147 127 174 543
Total 210 273 260 360 1,103


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 Communications
will.wright@summerset.co.nz louise.mcdonald@summerset.co.nz
+64 21 246 3793


ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 39 villages completed or in development nationwide
• In addition, Summerset has six proposed sites at Rotorua (Bay of Plenty), Mission Hills
(Napier), Palmerston North (Manawatu), Masterton (Wairarapa), Rolleston
(Christchurch), Mosgiel (Dunedin)
• Summerset also has two villages in development (Cranbourne North and Chirnside Park)
and five other properties in Victoria, Australia (Craigieburn, Drysdale, Mernda, Oakleigh
South and Torquay)
• Summerset provides a range of living options and care services to more than 8,400
residents