5 Year Financial Summary

    • 2014
      $M
    • 2015
      $M
    • 2016
      $M
    • 2017
      $M
    • 2018
      $M
    • INCOME STATEMENT
    • Gross property income
    • 207.7
    • 206.1
    • 204.6
    • 177.1
    • 150.4
    • Management income
    • 205.5
    • 215.3
    • 259.3
    • 266.3
    • 316.5
    • Development income
    • 767.6
    • 763.7
    • 1,250.4
    • 1,207.1
    • 1,115.8
    • Distributions from investments
    • 2.0
    • -
    • -
    • -
    • -
    • Net gain/(loss) on disposals of assets
    • 2.4
    • 41.5
    • (26.7)
    • 129.1
    • 108.1
    • Net gain from fair value adjustments on investment properties
    • 48.6
    • 515.9
    • 327.8
    • 180.9
    • 71.1
    • Share of net results of equity accounted investments
    • 445.2
    • 614.1
    • 928.6
    • 587.7
    • 910.9
    • Total income
    • 1,679.0
    • 2,356.6
    • 2,944.0
    • 2,548.2
    • 2,672.8
    • Property expenses
    • (60.1)
    • (59.4)
    • (63.9)
    • (46.9)
    • (36.4)
    • Development expenses
    • (579.8)
    • (619.0)
    • (929.1)
    • (919.9)
    • (808.9)
    • Employee expenses
    • (132.7)
    • (144.8)
    • (172.6)
    • (195.9)
    • (180.7)
    • Share based payments expense
    • (32.0)
    • (51.0)
    • (66.9)
    • (85.4)
    • (125.6)
    • Administrative and other expenses
    • (74.0)
    • (76.2)
    • (79.1)
    • (76.5)
    • (68.7)
    • Impairment losses
    • (14.4)
    • (28.2)
    • (249.1)
    • (93.0)
    • -
    • Net finance costs
    • (94.3)
    • (127.8)
    • (13.0)
    • (279.4)
    • (267.3)
    • Total expenses
    • (987.3)
    • (1,106.4)
    • (1,573.7)
    • (1,697.0)
    • (1,487.6)
    • Profit before income tax
    • 691.7
    • 1,250.2
    • 1,370.3
    • 851.2
    • 1,185.2
    • Income tax expense
    • (13.0)
    • (21.0)
    • (75.6)
    • (54.4)
    • (82.4)
    • Profit for the year
    • 678.7
    • 1,229.2
    • 1,294.7
    • 796.8
    • 1,102.8
    • Profit attributable to non-controlling interests
    • (21.4)
    • (21.2)
    • (20.1)
    • (18.7)
    • (4.6)
    • Profit attributable to Securityholders
    • 657.3
    • 1,208.0
    • 1,274.6
    • 778.1
    • 1,098.2
    • OPERATING PROFIT RECONCILIATION (NON-IFRS)
    • Operating profit available for distribution
    • 601.1
    • 653.5
    • 714.5
    • 776.0
    • 845.9
    • Adjustments for:
    • Property valuation related movements
    • 172.4
    • 709.7
    • 614.4
    • 397.6
    • 639.0
    • Fair value adjustments and unrealised foreign currency exchange movements related to capital management
    • (78.4)
    • (99.8)
    • 81.5
    • (243.8)
    • (174.4)
    • Other non-cash adjustments or non-recurring items
    • (37.8)
    • (55.4)
    • (135.8)
    • (151.7)
    • (212.3)
    • Profit attributable to Securityholders
    • 657.3
    • 1,208.0
    • 1,274.6
    • 778.1
    • 1,098.2
    • Operating profit per stapled security (cents)1
    • 34.8
    • 37.2
    • 40.1
    • 43.1
    • 46.7
    • Dividends/distributions per security (cents)
    • 20.7
    • 22.2
    • 24.0
    • 25.9
    • 28
  • 1. Fully diluted for performance rights.
    • 2014
      $M
    • 2015
      $M
    • 2016
      $M
    • 2017
      $M
    • 2018
      $M
    • STATEMENT OF FINANCIAL POSITION
    • Cash and receivables
    • 780.8
    • 1,137.0
    • 1,774.5
    • 2,681.9
    • 3,088.7
    • Property assets
    • 3,663.0
    • 4,337.7
    • 4,096.5
    • 3,245.7
    • 2,732.6
    • Equity accounted investments
    • 3,855.6
    • 4,508.8
    • 5,348.1
    • 5,522.7
    • 6,585.5
    • Intangible assets
    • 932.7
    • 976.4
    • 780.6
    • 771.9
    • 816.7
    • Other (including derivative financial instruments)
    • 171.8
    • 302.4
    • 387.4
    • 489.0
    • 235.9
    • Total assets
    • 9,403.9
    • 11,262.3
    • 12,387.1
    • 12,711.2
    • 13,459.4
    • Payables and provisions
    • 656.8
    • 732.0
    • 747.4
    • 866.6
    • 918.4
    • Interest bearing liabilities
    • 2,160.5
    • 2,707.9
    • 2,865.2
    • 2,878.3
    • 3,081.5
    • Other (including derivative financial instruments)
    • 356.2
    • 446.3
    • 381.2
    • 344.1
    • 285.8
    • Total liabilities
    • 3,173.5
    • 3,886.2
    • 3,993.8
    • 4,089.0
    • 4,285.7
    • Net assets
    • 6,230.4
    • 7,376.1
    • 8,393.3
    • 8,622.2
    • 9,173.7
    • Comprising:
    • Net assets attributable to Securityholders
    • 5,904.6
    • 7,050.3
    • 8,067.5
    • 8,296.4
    • 9,173.7
    • Net assets attributable to other non-controlling interests
    • 325.8
    • 325.8
    • 325.8
    • 325.8
    • -
    • Net tangible assets per security ($)
    • 2.88
    • 3.46
    • 4.10
    • 4.21
    • 4.64
    • Gearing ratio (%)
    • 19.5
    • 17.3
    • 11.8
    • 5.9
    • 5.1
    • STATEMENT OF CHANGES IN EQUITY
    • Total equity at the beginning of the year
    • 5,835.7
    • 6,230.4
    • 7,376.1
    • 8,393.3
    • 8,622.2
    • Total comprehensive income
    • 797.4
    • 1,429.2
    • 1,298.5
    • 678.2
    • 1,304.9
    • 6,633.1
    • 7,659.6
    • 8,674.6
    • 9,071.5
    • 9,927.1
    • Contributions of equity, net of transaction costs
    • 42.1
    • 89.3
    • 95.5
    • -
    • Distributions provided or paid
    • (445.4)
    • (388.3)
    • (408.0)
    • (481.2)
    • (504.2)
    • Other transactions with equity holders
    • 27.7
    • 36.7
    • 51.3
    • 62.5
    • 82.4
    • Movements in non-controlling interests
    • (27.1)
    • (21.2)
    • (20.1)
    • (30.6)
    • (331.6)
    • Total equity at the end of the year
    • 6,230.4
    • 7,376.1
    • 8,393.3
    • 8,622.2
    • 9,173.7
    • CASH FLOW STATEMENT
    • Net cash provided by operating activities
    • 404.4
    • 654.7
    • 830.1
    • 586.4
    • 1,161.2
    • Net cash (used in)/provided by investing activities
    • (228.5)
    • (147.8)
    • 160.0
    • 730.0
    • (26.5)
    • Net cash used in financing activities
    • (461.4)
    • (120.3)
    • (399.6)
    • (556.3)
    • (799.2)
    • Net (decrease)/increase in cash held
    • (285.5)
    • 386.6
    • 590.5
    • 760.1
    • 335.5
    • Cash at the beginning of the year
    • 645.4
    • 359.9
    • 746.5
    • 1,337.0
    • 2,095.1
    • Effect of exchange rate fluctuations on cash held
    • -
    • -
    • -
    • (2.0)
    • (23.8)
    • Cash at the end of the year
    • 359.9
    • 746.5
    • 1,337.0
    • 2,095.1
    • 2,406.8