Five Point Holdings, LLC (FPH) 2023年年度报告「NYSE」.pdf

1、 April 12,2024 Dear Shareholders,We ended 2023 with$113.7 million in net income,which is the most consolidated net income that we have generated in a single year since the Companys formation.We achieved these results despite starting 2023 with homebuilder uncertainty around the impacts of inflation

2、and interest rates on buyer demand and tightening capital markets impacting demand for our commercial land.These results can be tied directly to our undivided focus on our three main priorities:generating revenue and positive cash flow through various market cycles;controlling SG&A costs;and managin

3、g capital spend to match near term revenue opportunities.Furthermore,we executed on several key initiatives underlying our three main operating priorities.In particular,we:effectively refocused on our governmental relationships,assisting local agencies to deliver badly needed housing in our supply c

4、onstrained markets in a manner that maintains the attractiveness of our communities to todays consumer and with product offerings at several different pricing levels;re-engaged with the builders in order to drive higher land residuals by allowing them to design and build more efficient housing produ

5、cts;and invested considerable time and resources in analyzing the different commercial uses that could be developed on our commercial land holdings,allowing us to close material industrial land sale transactions in the fourth quarter of 2023 despite the challenges that most commercial markets faced

6、at that time.Our associates accomplished a number of significant strategic objectives in 2023,including:closing on the sale of approximately 38 acres of commercial land at the Great Park Neighborhoods community owned by our joint venture,the Great Park Venture;closing on the sale of land entitled fo