Mirvac’s urban strategy delivered excellent results in FY17, with operating earnings up 11 per cent and distributions up 5 per cent, at the top end of guidance provided.
The 2017 financial year was an outstanding year for Mirvac, and our ambition to reimagine urban life by creating, owning and managing high-quality assets in Australia’s largest cities has delivered strong results across the Group, positioning us well for the future.
Mirvac is an integrated, urban property group and a key contributor to Australia’s major cities.
Mirvac’s urban strategy and a strong focus on capital management delivered growth in FY17, and has ensured the Group is well placed for the year ahead.
In February this year, we launched Marrick & Co in Sydney’s inner west: a 220-apartment development on the old Marrickville Hospital site.
Mirvac has a priority focus on the health and safety of its employees, contractors and customers, and in FY17, we launched a refreshed policy and focus to strengthen our safety practices, behaviours and culture across our business, while supporting the wellbeing of our people, places and the communities in which we operate.
Developing a Reconciliation Action Plan (RAP) has been one of Mirvac’s key cultural goals over the past 12 months.
This Changes Everything is Mirvac’s sustainability strategy, comprised of four focus areas with long-term missions.
This Changes Everything FY17 at a glance
integration of social return on investment capture
RENEWABLE ENERGY INSTALLED
including 3,200 PV panels at Orion Springfield Central
NABERSwater rating 1
energy rating 1
INVESTED IN OUR COMMUNITIES
AVOIDED LANDFILL TAXby sending less waste to landfill
HOUSING AFFORDABILITY PILOTS UNDERWAY
One Planet Living Endorsement Marrick & Co
in Sydney, NSW
at 200 George Street, Sydney
A first in Australia
THE GROUP’s FIRST RECONCILIATION ACTION PLAN
1. average NABERS rating maintained across the office portfolio.
We’ve learned an enormous amount from our sustainability commitments that cover 17 of the 19 key issues in This Change Everything. Exploring such a wide range of areas has been invaluable, helping us identify where we’re able to have maximum impact as a business. Over the coming months, we plan to use these insights and conduct a materiality review to ensure our focus areas make a meaningful difference in the areas that are most important to us and our stakeholders. It will likely mean focusing on fewer things more deeply. Our goal will be to identify the areas where we can best manage risks and deliver the most value.