1H16 Stockland Results Presentation
Delivering sustainable growth
Agenda
Topic Speaker Page
Group Update | Mark Steinert - Managing Director and CEO | 03 |
Group Finance | Tiernan O'Rourke - CFO | 06 |
Commercial Property | John Schroder - Group Executive and CEO, Commercial Property | 12 |
Residential | Andrew Whitson - Group Executive and CEO, Residential | 18 |
Retirement Living | Stephen Bull - Group Executive and CEO, Retirement Living | 23 |
Summary and Outlook | Mark Steinert - Managing Director and CEO | 26 |
Stockland 1H16 Results Presentation 2
Strategy delivering strong results
1H16 | 1H15 | Change | |
Statutory Profit | $696m | $462m | 50.6% |
Statutory Earnings per security | 29.4 cents | 19.8 cents | 48.9% |
Funds from Operations (FFO)1 | $342m | $307m | 11.3% |
FFO per Security | 14.5 cents | 13.1 cents | 9.9% |
Underlying Profit2 | $313m | $290m | 8.1% |
Underlying Earnings per security | 13.2 cents | 12.4 cents | 6.7% |
Distribution per security | 12.2 cents | 12.0 cents | 1.6% |
Net Tangible Assets per security | $3.87 | $3.60 | 7.5% |
Gearing (D/TTA) | 23.1% | 22.1% | |
Return on Equity3 | 10.3% | 9.6% |
All businesses contributing to growth, reflecting successful
delivery of our strategy and supportive market conditions
FFO per security of 14.5c, up 9.9%
Underlying Earnings per security of 13.2c, 6.7% growth
Distribution increased to 12.2c supporting the target full year distribution of 24.5c
Maintained balance sheet strength
Increase in NTA per security of 7.5%
Funds from Operations (FFO) is determined with reference to the PCA guidelines. FFO is calculated by adding back tenant incentive amortisation and non cash income tax expense/benefit to underlying profit and deducting straight line rent from underlying profit
Underlying Profit is a non-IFRS measure that is determined to present, in the opinion of the Directors and Management, the ongoing operating activities of Stockland in a way that appropriately
reflects its underlying performance. Underlying Profit is the basis on which distributions are determined. Refer to Interim Financial Report for the complete definition
Return on Equity is a measure that accumulates individual business Return on Assets and incorporates the cash interest paid and average drawn debt for the 12 month period. 1H15 comparative number of 9.6% refers to the twelve month period from Jan-Dec 2014. Excludes workout and other.
Stockland 1H16 Results Presentation 3
1H16 Achievements
Grow Asset Returns and Customer Base
Commercial Property Residential Communities Retirement Living
VALUATION UPLIFT
4.5% owth OVERRecord
contracts
18%
9.2%Increase in
operating profit
$433mGr
in comparable FFO
4,100on hand
core ROA2
Including $127m from
recent developments
Now over
80%of residential capital employed in projects actively selling
Strong retail sales growth of 5.5%1
Over
Record reservations
$651mretail development
underway
300 on hand
$1b completed
in last three years, and future pipeline of $1b
Broadening customer reach
Seven medium density projects launched across four states
Retire
Your Way
Launch of our unique selling proposition
MAT
Core excludes impaired projects
Stockland 1H16 Results Presentation 4
Stockland Corporation Limited issued this content on 10 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 February 2016 22:32:26 UTC
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