Financial highlights

KEY FINANCIAL HIGHLIGHTS FOR THE YEAR ENDED 30 JUNE 2016

$1.03bn

STATUTORY PROFIT

driven by substantial property revaluation uplifts across the investment portfolio
FY15: $610m


$482m

OPERATING PROFIT

representing 13.0 cents per stapled security (cpss)
FY15: $455m


$509m

OPERATING CASHFLOW

FY15: $413m


$366m

DISTRIBUTIONS

representing 9.9 cpss
FY15: $348m


21.9%

GEARING2

at the lower end of the Group's target range of 20 to 30 per cent
FY15: 24.3%


$1.92

NET TANGIBLE ASSETS

per stapled security
FY15: $1.74

KEY CAPITAL MANAGEMENT HIGHLIGHTS FOR THE YEAR ENDED 30 JUNE 2016:

$1.2bn

INCREASED AVAILABLE LIQUIDITY

as a result of proceeds from non-core asset disposals and residential settlements


A$536m

US PRIVATE PLACEMENT NOTES (USPP) PRICED

with maturities across tenors of 11,12 and 15 years. The issue is expected to settle in September 2016


4.0 years

WEIGHTED AVERAGE DEBT MATURITY

expected to increase to over 5.0 years post USPP issuance


5.0%

AVERAGE BORROWING COSTS

FY15: 5.2%

MAINTAINED S&P BBB+ RATING

RECEIVED Baa1 LONG-TERM ISSUER RATING

From Moody's Investors Service

Mirvac’s strong capital management in FY16 means it is very well-placed for the year ahead. This is demonstrated by low gearing, and with debt maturing in 1H17 due to be replaced with long-term US debt, the Group’s weighted average debt maturity will significantly increase, while reducing the amount of debt due in any one year.

1. Excludes specific non-cash items, significant items and related taxation.
2. Net debt (at foreign exchange hedged rate) excluding leases/(total tangible assets-cash).