It targets monthly distributions of 4% over the RBA cash rate. Let's take a closer look to see what the different types of shareholder can tell us about RDC. Audit, … Our large cash balance provides capacity for ongoing investment in growth. Total profit decreased by 16.85% due to lower year on … Growing our presence in China remains an ongoing priority. Redcape owns 30 of the 32 hotels it operates as a freehold going concern and 2 leasehold going concern. 16 February 2021 08:30 AM Melbourne time (approximate) BHP Results for the half year ended 31 December 2020 Mr Biggins has been on the Board since IPO. Total AUM is one metric that indicates overall scale and growth in Asset Management. In December, we raised capital into our newest credit Fund, The Moelis Australia Private Credit Fund. We are pleased with the continued growth of our Asset Management business and overall our funds’ investment performance has been pleasing. Redcape Hotel Group Management Ltd (ACN 610 990 004) (AFSL 505932) is the responsible entity of Redcape Hotel Trust I (ARSN 629 354 614) and Redcape Hotel Trust II (ARSN 629 354 696) (together “Redcape” or “Redcape Hotel Group”). The current market is presenting us with many opportunities. An estimate of costs for refurbishing the Cabramatta Inn currently underway of around $7m is also detailed, with a current completion date of June 2019. This investment delivers strong alignment with Redcape’s security holders. Redcape T :+61 2 9719 4000 F :+61 2 9719 4099 Email Us. This includes seeking opportunities to increase our activities in originating and managing residential mortgages. Access financial and company reports, presentations and webcasts; View information relating to share price and dividend history ; Register for email alerts; View ASX announcements; Access and update information held by our Share Registry; Share Price $3.20. This information should be read in conjunction with the 2018 Annual Report. Subscribe to Australian Hotelier newsletter, How Comiskey Group pulled off a COVIDSafe event for 4500 people, Subscribe to Australian Hotelier Magazine. However, we continue to work hard to maximise outcomes for all stakeholders in these asset classes. 18 August 2021: Add to Calendar : Dates are subject to change should circumstances require. 30 June 2018: Annual Report: PDF: 30 June 2018: Annual Results Presentation: PDF: 31 December 2017: Interim Report: PDF: 31 December 2017: Interim Results Presentation Moelis Australia has a co-investment in Redcape Hotel Group of approximately $60 million. The size of the residential mortgage market in Australia is in excess of $1.8 trillion. Market Cap $483.1M ! The report also highlights growth capital expenditure of $4.9m due to the “major” renovations at the Leumeah Hotel and a $4.2m “material refurbishment” at the Eastwood Hotel. The report also highlights growth capital expenditure of $4.9m due to the “major” renovations at the Leumeah Hotel and a $4.2m “material refurbishment” at the Eastwood Hotel. If a company chooses to publish the data, it’s usually once a year in their Annual Report. That said, we are well positioned for the year ahead. Statutory EBITDA down 8% ($52.0 million down from $56.2 million), Statutory Net Profit after Tax down 23% ($23.5 million down from $30.5 million), Cash and cash equivalents up 49% ($128.8 million up from $86.7 million), Net Tangible Assets per share of $1.36 (down ~5% from $1.43), Fully franked Dividend of 10.0 cents per share (up 25% from 8.0 cents per share), Shares on Issue at 31 Dec 2019 ~146.6 million (down ~5% on 31 Dec 2018 following buy-back), Underlying Revenue up 16% ($158.3 million up from $136.3 million), Underlying EBITDA up 6% ($63.5 up from $59.8 million), Underlying Net Profit after Tax up 2% ($40.2 million up from $39.3 million), Underlying EPS up 3% (26.5 cents up from 25.7 cents), The addition of a $6.4 million performance fee relating to our management of Redcape Hotel Group. Corporate Spotlight; … Redcape Hotel Group Half-Year 2020 Results 2020 - Redcape Hotel Group Management Changes to Moelis Australia Management Structure and Board. Our expansion into China is fundamental to positioning ourselves within the world’s fastest growing HNW market. Sales costs were $67.6m, representing a gross profit margin of 52.6 per cent. This is in part due to transactions which commenced in FY19 but will not close until FY20. There is some analyst coverage of the stock, but it … Financial Report; 19 August 2020: Redcape Hotel Group Full Year 2020 Results (Issued 19 Aug 20) 19 February 2020: Redcape Hotel Group 1H20 Results (Issued 19 Feb 20) 28 August 2019: Redcape Hotel Group Full Year 2019 Results (Issued 28 Aug 19) 20 February 2019: Redcape Hotel Group 1H19 Results (Issued 20 Feb 19) Publinc; Social Responsibility; Publinc Help; Publinc … I am particularly passionate about our plans to establish “The Moelis Academy”. His new executive role remains his sole commercial activity and Mr Pridham’s position as an Executive Director of Moelis Australia Limited and Director of the Moelis Australia Foundation remains unchanged. Corporate Advisory activity in the second half of FY19 was strong. Corporate Advisory & Equities revenue recognised thus far in FY20 is above that at the comparable time in FY19. By signing up to receive our insights/ASX updates you may also receive occasional relevant communications and special notifications from Moelis Australia via email. The report summarised the period as a “strong first quarter performance followed by some variable trade at certain venues late in 1H19 extending into the current period”. The Moelis Academy will involve intensive formal in-house practical education in disciplines highly relevant to today’s professionals. While Redcape faced difficult trading conditions over its six months to 30 June 2019 (Redcape has a 30June financial year end) it has today announced a strong 1H20 result including a 10.9% increase in distributable earnings per security and life-for-like revenue growth of 6.2%. We have had pleasing results in attracting investment from foreign HNW clients into funds not related to the Significant Investor Visa (“SIV”) programme. As we have previously stated, we believe Real Estate and Credit assets continue to be sought by our clients. Equities commissions were slightly lower (-$300k) in FY19 than FY18 but the division made a significant contribution in the facilitation of Equity Capital Market (“ECM”) transactions throughout the year. This was primarily driven by advising on an increased number of transactions compared with FY18. Corporate Details. The business platform we manage today has an attractive portfolio of quality businesses. This increase includes the impact of the February 2020 settlement of the Beach Hotel Byron Bay (+$104 million) and the disposal of the. By 2025, the self-storage market’s valuation is expected to grow to $115.62 billion from $87.65 billion in 2019. The group sold the Belrose Hotel for $20m in the same period, which represents a 5.1 per cent premium to book value. [6] The previously reported FY18 Underlying EBITDA result of $57.5 million has been adjusted by $2.3 million to reflect the estimated impact of AASB 16 Leases should it have been applied in 2018. 2019 – Strong Business Growth and Increased Dividend, Private equity and venture growth capital, backed by a combination of real estate, equipment and receivable assets. Over this time frame, we have continued to focus on refining proprietary systems and overall product development. We note that hedge funds don't have a meaningful investment in Redcape Hotel Group. Prior to our Initial Public Offering (“IPO”) in early 2017, Moelis Australia operated under the single trading name of Moelis & Company. We see it is a significant opportunity. Importantly, base management fee income grew by 21% in FY19. I am proud of the business we have built at Moelis Australia and am confident of what can be achieved in the future. Our strong cash balance provides flexibility and assists future growth. In November 2019, a single asset Fund managed by MAHM contracted to acquire the iconic Beach Hotel in Byron Bay for $104m (before-costs) with settlement occurring on 10 February 2020. [7] Average full time FTEs at 31 December 2019, [8] Excludes Mater Credit Trust and Redeemable Preference Shares, for more information please see Note 23 of the FY19 Annual Report. The AGM presentation is available on our Presentations page, please click here Opens in new window to view.. Moelis Australia will recognise a performance fee of $2.4 million in 1Q20 because of this transaction. Our initiatives in the Credit space have increased significantly over the past 12 months. Moelis Australia Independent Chairman Mr Jeffrey Browne said “Andrew is an outstanding leader, proven business builder and deal maker. Moelis Australia Hotel Management Pty Ltd (ACN 619 297 228) is the appointed investment manager and hotel operator of Redcape. Capital capacity added to our growing footprint of experienced executives, diverse business activities and capital raising capability should assist us in identifying new business opportunities. Mr Julian Biggins and Mr Chris Wyke, both co-founders of the Company will become joint CEOs. Reports; Roads & projects Melbourne; Sydney; Brisbane; North America; Community & sustainability Partnerships and grants; Engaging with local communities ; Information for our customers; Environmental initiatives; Investor centre show-search-button; Close. Redcape did not detail which venues it believed were underperforming. REDCAPE HOTEL GROUP; Viewed 10,240 times by 3014 users (Last 30 days) Created with Sketch. We believe we achieved an appropriate balance of delivering attractive short-term results while investing for future growth. We believe this is attractive in the current low interest rate environment. We continue to believe that the combination of our Corporate Advisory & Equities business with that of our Asset Management platform enables us to hire, develop and retain high quality people who deliver great results for our clients and investors. This report provides details on the remuneration structure, decisions and outcomes for the year ended 30 June 2019 for Key Management Personnel (“KMP”) of the HPI Group. I remain passionate about and fully committed to the business. In the second half of 2019 we were involved in raising over $2.2 billion in equity for clients across 18 transactions. Moelis Australia is now the market leader in Australian legal disbursement funding. $50m in December 2018 for three South Coast venues. Our average cash balance in FY19 was $109.5 million. The report also shows a focus on electronic gaming machine renewal contributed to capital expenditure costs of $2.2m. Contents Page . SGR Trading and Earnings Update. Truly the one-stop destination, Harvey Norman offers a range of solutions for every room - superb quality and style in the living room, comfort and support you need in the bedroom, the latest innovative technology for entertainment and food preparation, and everything you need to set up the perfect home office. 11 June 2019. Discussion; Created with Sketch. Key results include strong revenue growth of 17.5 per cent and operating EBITDA up 13.8 per cent for the last six months of 2018, with both primarily driven by acquisitions. These systems are mobile and are designed to deliver point-of-care health services, without needing additional space or power. Head Office: Cremorne: Managing Director:-GICS Sub-Industry: Casinos & Gaming: Date Listed: 30 Nov 2018: Registry: … The Corporate Advisory & Equities business branding will remain unchanged as Moelis Australia, reflecting the strong ongoing strategic partnership with Moelis & Company. We believe that this allows us to better control their credit characteristics, pricing and volume. These are roles I have enjoyed over my 30 years working in the investment banking industry. I believe that the outlook for the business is better than it has ever been.”, [1] Underlying Revenue, EBITDA, NPAT and EPS and other measures of underlying performance are not prepared in accordance with International Financial Reporting Standards (“IFRS”) and are not audited. While there is some analyst coverage, the company is probably not widely covered. View More. The depth of talent of our people when combined with our strong capital position and culture of optimism and innovation positions Moelis Australia well for the future. Mr Biggins has been on the Board since IPO. We continue to grow our reputation and capability in ECM services in Australia. Results for announcement to the market Consolidated 2020 Consolidated 2019 … The impact of the share buy-back increases future earnings per share (“EPS”) by approximately 5%, all else being equal. We are confident that this investment will deliver quantifiable results in terms of capital inflows, retention of clients and investment returns. Directors' report 3. We will not sell or distribute your email address to any third party at any time. Key strategic hires in all areas of the business represents an investment for future growth. In order to better reflect our evolving focus and business activities, Moelis Australia will progressively change the branding of its Asset Management division to MA Asset Management. 28 May 2018 - Investor Day Presentation. Underlying Revenue for FY19 in Corporate Advisory & Equities was $61.7 million (up 20% on FY18). Highlighting our growing strength in the technology sector we acted on two of the five largest IPO’s involving technology companies. The underlying assets of this Fund are first mortgages secured against Australian real estate. Comprising Hotel Property Investments Trust (ARSN 166 484 377) and Hotel Property Investments Limited (ABN 25 010 330 515) and their controlled entities . Highlights included: • Record Underlying EBITDA of $57.5 million … This accounting treatment does not relate to the valuation of the Fund or our co-investment, The $2.2 million gain on the sale of our 50% interest in a boutique asset management business. All data is manually compiled so there might be a delay between the Annual Report being published and the data appearing on Market Index (7 days for ASX 300 and up to 30 days for micro-caps). Redcape Hotel reported net loss of $4.93m for the year ended 30 June 2019. His increased client focused role will, I believe, contribute significantly to the ongoing growth of the business.”. 09 October 2019. Presentation at Morgans Conference. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed (dated 29th May 1991), the In 2019 we welcomed three new Managing Directors and associated teams. We are supportive of the review which is the third review of the terms of the SIV program since its commencement in 2012. This gain was recorded in our FY18 Statutory result but not recorded as Underlying Revenue until FY19 following completion of the sale and receipt of cash proceeds which occurred in early 2019, For further information on adjustments between Statutory and Underlying results, please refer to the detailed reconciliation provided in the FY19 Investor Presentation and Annual Report. In total, we hired 24 team members across the Group in FY19, Declaration of a fully franked Dividend of 10.0 cents per share, an increase of 25% on FY18. It is worth noting that over our first decade of operation our Corporate Advisory business has remained very consistent in terms of performance. Chairman and Chief Executive Officer’s Letter Dear Shareholder We are pleased to present our 2018 Annual Report after another productive year of operation. Promising inflows into this new Fund have continued in 2020. 28 April 2021: Add to Calendar : FY21 Results Announcement. Overall, Asset Management Revenue which is recurring in nature, represented 74% of total Underlying Revenue for our Asset Management activities. Redcape Hotel Group Appendix 4E Preliminary final report 1. Revenue from ordinary activities were $285.21m. Moelis Australia Independent Chairman Mr Jeffrey … © Copyright 2021 Moelis Australia. View announcements, advanced pricing charts, trading status, fundamentals, dividend information, peer analysis and key company information. Core Real Estate (~$2.2 billion of AUM primarily across shopping centres and commercial assets); Operating Real Estate (largely Hospitality) (~$1.2 billion of AUM); Credit Strategies (~$0.9 billion of AUM); and, Private Equity, Venture Capital and ASX Listed Equities (~$600 million of AUM), Net increase in AUM since the end of FY19 has been approximately $150m. Investors in the Fund benefit from Moelis Australia’s credit enhancement structure. Investor Day Presentation & … Where possible we look to control the origination and underwriting standards of the credit assets we manage. ASX Announcements. The Fund pays monthly distributions and investor demand for this product remains high. In FY2019 productivity was $1.2 million per executive, the same as in FY18 despite adding 12 new executives.7. Report for the Year Ended 30 June 2018 . The fourth quarter of FY19 was particularly encouraging and this strength has carried over into FY20. The underlying assets of this Fund include consumer, commercial and accounts receivable backed loans. The group also moved its head office to Minskys Hotel in Cremorne during this period. Additional Appendix 4E disclosure requirements can be found in the Annual Report of Moelis Australia Limited which contains the Directors' Report and the 31 December 2017 Consolidated Financial Statements and accompanying notes. Underlying Revenue in Asset Management increased 14% to $96.7 million, Strong growth in revenue. We are actively exploring opportunities to grow our credit origination platform. View our privacy policy. Company details Name of entity: Redcape Hotel Group comprising Redcape Hotel Trust I (ARSN 629 354 614) and Redcape Hotel Trust II (ARSN 629 354 696) Reporting period: For the year ended 30 June 2020 Previous period: For the year ended 30 June 2019 2. Prudent capital management. Basic and Diluted EPS were (0.93) cents compared to nil cents last year. I am a significant shareholder in Moelis Australia Limited and the majority of my shareholding remains subject to ongoing voluntary escrow. 17 February 2021: Add to Calendar : 3Q21 Sales Results. The transaction pipeline remains strong with momentum continuing from a strong second half in FY19. Our office in Shanghai serves as a headquarters for our China team that now also has an ongoing presence in Beijing. This initiative will materially increase our already significant efforts in developing the skills and capability of our talented team members. However, we remain disappointed with the performance of our strategic investment in Japara Healthcare Limited (ASX:JHC) and our funds invested in the childcare space. We believe that the seasonality in FY19 showed a larger second half skew as a result of the challenging capital markets in the fourth quarter of 2018 and first quarter of 2019. 10 October 2018. Moelis Australia has approximately $57 million of core borrowings. The Group achieved many successes both financially and operationally. We continue to guide to a revenue range of $1.1 million - $1.3 million per executive, noting that revenue is transactional in nature. We believe this dynamic will persist over the medium to long-term in the Australian market and we are focused on increasing our presence in credit. Growth in net Assets Under Management (“AUM”) of $1.2 billion, taking total AUM to $4.9 billion (+32% on FY18). In order to better reflect our evolving focus and business activities, Moelis Australia will progressively change the branding of its Asset Management division to MA Asset Management. Concluding on the results, Redcape said “Management have implemented several operating initiatives aimed at optimising venue performance and minimising the overall impact that a softer economic environment might have on Redcape’s financial performance.”. Moelis Australia has a long-standing strategic partnership with its largest shareholder, global Investment Bank Moelis & Company. Corporate Advisory revenue has typically been seasonal with a clear skew to the second half. The 2020 AGM was held on Wednesday 21 October 2020 at 10:30 am (Hobart time). Detailed reconciliations between the Underlying and IFRS measures are provided in Moelis Australia’s 2019 Results presentation and note 3 of the Directors Report of its 31 December 2019 Consolidated Financial Report (“2019 Results”), [2] Statutory Revenue refers to Total income on the Consolidated Statement of Profit or Loss and Other Comprehensive Income, [3] Statutory Revenue refers to Total income on the Consolidated Statement of Profit or Loss and Other Comprehensive Income, [4] Statutory EBITDA is not a recognised IFRS measure but has been presented to provide a comparable measure to the Underlying Result, [5] Underlying Revenue, EBITDA, NPAT and EPS and other measures of underlying performance are not prepared in accordance with International Financial Reporting Standards (“IFRS”) and are not audited. I look forward to having greater time to focus my professional efforts on clients, revenue generation, identifying strategic growth opportunities, and developing our executives. Overall 2019 was a very pleasing year for Moelis Australia. Our Fixed Income Fund also had strong capital inflows during FY19 and has ~$110 million of AUM (up ~$100m in FY19). This has resulted in some redemptions. REPORTS & ANNOUNCEMENTS. The definition of an insider can differ slightly between different countries, but members of the … Trading and Earnings Update Teleconference Call. 5 November 2020: Add to Calendar : 1H21 Results Announcement. The Fund is positioned to benefit from market dynamics which are positive for non-bank lenders. Consolidated statement of … Importantly, our senior executive team is motivated, experienced and has genuine depth. With that in mind, Moelis Australia today announces the following key changes to its management structure and Board: Mr Andrew Pridham, as a co-founder has been CEO of Moelis Australia since 2009. The credit assets we manage assets for client in revenue the share registry the registry. 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