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
Mission: To be net positive by 2030
Given the nature of our work, using resources responsibly has the potential to make an enormous positive impact. From our construction methods, to our building management systems, we’re going to great efforts to use our resources wisely; reducing our energy consumption and our reliance on traditional sources, conserving water, and diverting waste from landfill. Our mission to be net positive by 2030 is ambitious, and some areas such as water remain a challenge. Based on our performance to date, however, we still feel confident it’s a goal that’s within our reach.
Whether it’s through energy-conscious design, renewables, or energy-saving customer incentives, Mirvac continues to work to reduce our reliance on traditional energy sources.
We live on a dry continent and we recognise that Australians and our producers have a very important relationship with water.
Throughout FY17, we have carried on managing waste using our six key strategies: avoid, reuse, recycle, recover, treat and dispose.
Ensuring the integrity and sustainability of our materials is of vital importance to us. Mirvac relies on a host of different suppliers to provide an equally broad range of materials and services.
Introduced only a few years ago, the lifecycle assessment (LCA) has rapidly become part of how we design and develop properties at Mirvac.