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LENDLEASE GROUP — Annual Report 2017
Aug 27, 2017
65243_rns_2017-08-27_c45d1baf-09d8-4348-b3b2-d2684b54fc3b.pdf
Annual Report
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28 August 2017
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Lendlease Group FY17 Financial and Operational Metrics
Lendlease Group today announced its results for the full year ended 30 June 2017. Attached is a data file comprising financial and operational metrics covering FY13 – FY17.
As disclosed on 30 June 2017, the Five-Year Profile and Portfolio Report that has previously formed part of the suite of financial reports has been discontinued.
An excel file containing the data is available at: www.lendlease.com/investorcentre
The data contained in the excel file is attached to this ASX in PDF format.
Ends
FOR FURTHER INFORMATION, PLEASE CONTACT:
Investors: Media: Justin McCarthy Stephen Ellaway Mob: 0422 800 321 Mob: 0417 851 287
Lendlease Corporation Limited ABN 32 000 226 228 and Lendlease Responsible Entity Limited ABN 72 122 883 185 AFS Licence 308983 as responsible entity for Lendlease Trust ABN 39 944 184 773 ARSN 128 052 595
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Level 14, Tower Three, International Towers Sydney Telephone +61 2 9236 6111 Exchange Place, 300 Barangaroo Avenue Facsimile +61 2 9252 2192 Barangaroo NSW 2000 Australia lendlease.com
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Group Summary
| Group Summary | ||||||
|---|---|---|---|---|---|---|
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
| Unit | ||||||
| Profit and Loss Summary | ||||||
| Revenue | A$m | 13,206.6 | 13,973.1 | 13,298.6 | 15,105.3 | 16,671.0 |
| Segment EBITDA1 | ||||||
| Development | A$m | 698.9 | 386.1 | 500.2 | 552.4 | |
| Construction | A$m | 271.5 | 279.0 | 288.1 | 338.3 | |
| Investments | A$m | 434.0 | 477.8 | 457.7 | 495.3 | |
| Total Operating Business EBITDA | A$m | 909.3 | 1,404.4 | 1,142.9 | 1,246.0 | 1,386.0 |
| Group Services | A$m | (166.3) | (200.7) | (156.8) | (168.7) | (154.4) |
| Group Treasury | A$m | (1.6) | (10.9) | (19.1) | (22.4) | (29.8) |
| Other | A$m | (2.0) | - | - | - | - |
| Group EBITDA | A$m | 739.4 | 1,192.8 | 967.0 | 1,054.9 | 1,201.8 |
| Depreciation & Amortisation | A$m | (87.3) | (87.7) | (79.5) | (82.7) | (98.2) |
| EBIT | A$m | 652.1 | 1,105.1 | 887.5 | 972.2 | 1,103.6 |
| Net Finance Revenue/(Costs) | A$m | (80.8) | (106.5) | (119.5) | (109.4) | (96.6) |
| PBT | A$m | 571.3 | 998.6 | 768.0 | 862.8 | 1,007.0 |
| Income Tax Expense | A$m | (21.4) | (175.3) | (149.1) | (164.7) | (248.3) |
| External/non-controlling interests | A$m | (0.9) | (0.4) | (0.3) | 0.1 | (0.1) |
| NPAT attributable to securityholders | A$m | 549.0 | 822.9 | 618.6 | 698.2 | 758.6 |
| Returns and Key Performance Measures | ||||||
| (EPS) Earnings per stapled security on PAT | cents | 95.6 | 142.7 | 106.8 | 120.1 | 130.1 |
| Dividend / Distribution per stapled security | cents | 42.0 | 71.0 | 54.0 | 60.0 | 66.0 |
| Dividend / Distribution Payout ratio | % | 44% | 50% | 51% | 50% | 51% |
| Securities on issue | m | 576 | 577 | 580 | 582 | 583 |
| Weighted average number of securities | m | 574 | 577 | 579 | 581 | 583 |
| Net asset backing per security | A$ | 7.41 | 8.43 | 8.90 | 9.64 | 10.58 |
| Net tangible asset backing per security | A$ | 5.22 | 6.14 | 6.42 | 7.16 | 8.15 |
| Security price at period end | A$ | 8.35 | 13.11 | 15.03 | 12.60 | 16.65 |
| Number of securityholders | no. | 53,591 | 55,046 | 56,966 | 61,521 | 58,642 |
| Number of equivalent full time employees | no. | 15,634 | 13,268 | 12,443 | 12,162 | 12,347 |
| (ROE) PAT to average securityholders' equity | % | 13.6% | 18.2% | 12.4% | 13.0% | 12.9% |
| Development ROIC | % | 23.6% | 9.7% | 11.7% | 13.7% | |
| Investments ROIC2 | % | 15.0% | 14.2% | 11.2% | 11.7% | |
| Construction EBITDA Margin | % | 2.5% | 2.6% | 2.4% | 2.7% | |
| EBITDA Mix by Segment - % Operating EBITDA | ||||||
| Development | % | 49.8% | 33.8% | 40.2% | 39.9% | |
| Construction | % | 19.3% | 24.4% | 23.1% | 24.4% | |
| Investments | % | 30.9% | 41.8% | 36.7% | 35.7% | |
| Key Platform Value Drivers | ||||||
| Development Pipeline | A$b | 37.4 | 37.7 | 44.9 | 48.8 | 49.3 |
| Construction Backlog3 | A$b | 16.2 | 16.2 | 17.3 | 20.7 | 20.6 |
| Funds Under Management | A$b | 15.0 | 16.3 | 21.3 | 23.6 | 26.1 |
| Profit After Tax by Segment & Region | ||||||
| Development | A$m | 523.3 | 277.2 | 366.4 | 397.8 | |
| Construction | A$m | 144.4 | 159.0 | 190.9 | 211.7 | |
| Investments | A$m | 377.8 | 408.6 | 370.7 | 381.4 | |
| Australia | A$m | 506.6 | 446.0 | 625.1 | 719.1 | 778.9 |
| Asia | A$m | 112.6 | 73.7 | 17.3 | (20.3) | 13.7 |
| Europe | A$m | 95.4 | 446.9 | 112.3 | 150.8 | 95.4 |
| Americas | A$m | 53.7 | 78.9 | 90.1 | 78.4 | 102.9 |
| Invested Capital by Segment & Region | ||||||
| Development | A$b | 2.4 | 3.3 | 2.9 | 3.0 | |
| Investments | A$b | 2.6 | 3.1 | 3.2 | 3.3 | |
| Australia | A$b | 4.9 | 5.1 | 4.8 | 4.7 | |
| Asia | A$b | 0.3 | 0.5 | 0.5 | 0.7 | |
| Europe | A$b | 0.2 | 0.8 | 0.8 | 0.8 | |
| Americas | A$b | (0.1) | 0.1 | 0.4 | 0.5 | |
| Total Invested Capital4 | A$b | 5.6 | 6.9 | 6.7 | 7.0 | |
| Effective Tax Rate | % | 3.8% | 17.6% | 19.4% | 19.1% | 24.7% |
| FX Rates | ||||||
| Income Statement - Period Average | ||||||
| USD | A$/USD | 1.03 | 0.91 | 0.83 | 0.73 | 0.76 |
| GBP | A$/GBP | 0.66 | 0.56 | 0.53 | 0.50 | 0.60 |
| SGD | A$/SGD | 1.27 | 1.16 | 1.09 | 1.01 | 1.05 |
| Balance Sheet - Period End | ||||||
| USD | A$/USD | 0.93 | 0.95 | 0.77 | 0.75 | 0.77 |
| GBP | A$/GBP | 0.61 | 0.55 | 0.49 | 0.56 | 0.59 |
| SGD | A$/SGD | 1.23 | 1.17 | 1.04 | 1.00 | 1.06 |
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Group Summary
| Group Summary | ||||||
|---|---|---|---|---|---|---|
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
| Unit | ||||||
| Corporate Strength | ||||||
| Total tangible assets | A$m | 13,038.4 | 14,428.1 | 17,514.5 | 17,146.1 | 19,439.1 |
| Cash | A$m | 1,609.5 | 1,715.8 | 750.1 | 1,008.4 | 1,249.2 |
| Borrowings | A$m | 1,976.2 | 2,347.0 | 2,450.3 | 2,031.3 | 2,152.4 |
| Operating cash flow | A$m | 80.9 | 822.4 | (166.6) | 853.0 | 146.0 |
| Investing cash flow | A$m | 153.8 | (614.5) | (383.4) | 0.6 | 70.1 |
| Total Operating and Investing cash flow | A$m | 234.7 | 207.9 | (550.0) | 853.6 | 216.1 |
| Financing cash flow | A$m | 291.2 | (110.4) | (465.2) | (620.4) | 8.5 |
| Total cash flow | A$m | 525.9 | 97.5 | (1,015.2) | 233.2 | 224.6 |
| Ratio of current assets to current liabilities | times | 0.7x | 0.7x | 0.7x | 0.7x | 0.6x |
| Ratio of current assets to current liabilities (excluding resident and accommodation bond liabilities) | times | 1.1x | 1.1x | 1.2x | 1.2x | 1.0x |
| Net debt to total tangible assets, less cash5 | % | 5.4% | 5.7% | 10.5% | 6.5% | 5.0% |
| Interest cover | times | 6.4x | 8.1x | 6.6x | 8.0x | 10.3x |
| Average cost of debt | % | 5.9% | 5.4% | 5.2% | 4.6% | 4.9% |
| Average term of debt | years | 4.3 | 4.7 | 3.9 | 5.3 | 5.1 |
| Balance Sheet | ||||||
| Statement of Financial Position | ||||||
| Current Assets | ||||||
| Cash and cash equivalents | A$m | 1,609.5 | 1,715.8 | 750.1 | 1,008.4 | 1,249.2 |
| Loans and receivables | A$m | 1,976.9 | 1,777.3 | 3,631.0 | 2,785.0 | 2,749.2 |
| Inventories | A$m | 1,093.2 | 1,345.6 | 1,980.0 | 1,923.0 | 2,152.0 |
| Current tax assets | A$m | 6.8 | - | 42.7 | 21.6 | - |
| Other financial assets | A$m | 97.8 | 50.4 | 8.6 | 50.7 | 33.0 |
| Other assets | A$m | 49.0 | 43.5 | 83.2 | 69.2 | 77.9 |
| Total current assets | A$m | 4,833.2 | 4,932.6 | 6,495.6 | 5,857.9 | 6,261.3 |
| Non Current Assets | ||||||
| Loans and receivables | A$m | 665.4 | 633.8 | 320.1 | 285.4 | 507.7 |
| Inventories | A$m | 1,850.5 | 1,785.9 | 2,124.2 | 2,679.9 | 2,975.4 |
| Equity accounted investments | A$m | 486.8 | 578.0 | 1,235.8 | 1,152.6 | 834.6 |
| Investment properties | A$m | 4,052.3 | 4,832.0 | 5,994.9 | 5,940.7 | 6,967.4 |
| Other financial assets | A$m | 453.1 | 972.1 | 625.7 | 628.8 | 1,203.3 |
| Deferred tax assets | A$m | 221.0 | 251.3 | 305.5 | 109.5 | 129.4 |
| Property, plant and equipment | A$m | 401.9 | 360.3 | 348.8 | 432.3 | 425.8 |
| Intangible assets | A$m | 1,262.5 | 1,323.7 | 1,444.7 | 1,446.8 | 1,415.1 |
| Defined benefit plan asset | A$m | 1.4 | 7.6 | 9.2 | 7.5 | 64.3 |
| Other assets | A$m | 72.8 | 74.5 | 54.7 | 51.5 | 69.9 |
| Total non current assets | A$m | 9,467.7 | 10,819.2 | 12,463.6 | 12,735.0 | 14,592.9 |
| Total assets | A$m | 14,300.9 | 15,751.8 | 18,959.2 | 18,592.9 | 20,854.2 |
| Current Liabilities | ||||||
| Trade and other payables | A$m | 3,812.5 | 4,034.1 | 5,036.1 | 4,328.8 | 5,578.8 |
| Resident liabilities | A$m | 2,677.5 | 3,195.5 | 4,080.4 | 4,119.5 | 4,573.0 |
| Provisions | A$m | 285.5 | 254.6 | 328.8 | 292.4 | 285.6 |
| Current tax liabilities | A$m | - | 51.4 | - | - | 6.4 |
| Borrowings and financing arrangements | A$m | - | - | 227.3 | - | 291.9 |
| Other financial liabilities | A$m | 181.7 | 40.0 | 33.7 | 83.6 | 22.0 |
| Total current liabilities | A$m | 6,957.2 | 7,575.6 | 9,706.3 | 8,824.3 | 10,757.7 |
| Non Current Liabilities | ||||||
| Trade and other payables | A$m | 874.3 | 722.3 | 1,586.0 | 1,909.4 | 1,772.1 |
| Provisions | A$m | 70.7 | 82.3 | 46.0 | 70.6 | 58.4 |
| Borrowings and financing arrangements | A$m | 1,976.2 | 2,347.0 | 2,223.0 | 2,031.3 | 1,860.5 |
| Defined benefit plan liability | A$m | 14.6 | 39.5 | 68.8 | 3.4 | - |
| Other financial liabilities | A$m | 88.3 | 59.6 | 32.3 | 9.7 | 0.8 |
| Deferred tax liabilities | A$m | 52.8 | 56.7 | 128.6 | 129.5 | 238.2 |
| Total non current liabilities | A$m | 3,076.9 | 3,307.4 | 4,084.7 | 4,153.9 | 3,930.0 |
| Total liabilities | A$m | 10,034.1 | 10,883.0 | 13,791.0 | 12,978.2 | 14,687.7 |
| Net Assets | A$m | 4,266.8 | 4,868.8 | 5,168.2 | 5,614.7 | 6,166.5 |
| Equity | ||||||
| Issued capital | A$m | 1,599.9 | 1,618.2 | 1,256.3 | 1,276.3 | 1,289.8 |
| Treasury securities | A$m | (118.0) | (116.1) | (89.9) | (99.5) | (24.7) |
| Reserves | A$m | (24.0) | 24.4 | 91.7 | 98.0 | (5.3) |
| Retained earnings | A$m | 2,297.3 | 2,824.0 | 2,936.0 | 3,289.6 | 3,686.6 |
| Total equity attributable to members of Lendlease Corporation Limited | A$m | 3,755.2 | 4,350.5 | 4,194.1 | 4,564.4 | 4,946.4 |
| Total equity attributable to unitholders of Lendlease Trust | A$m | 506.1 | 513.3 | 968.0 | 1,048.6 | 1,117.0 |
| Total equity attributable to securityholders | A$m | 4,261.3 | 4,863.8 | 5,162.1 | 5,613.0 | 6,063.4 |
| External non controlling interests | A$m | 5.5 | 5.0 | 6.1 | 1.7 | 103.1 |
| Total equity | A$m | 4,266.8 | 4,868.8 | 5,168.2 | 5,614.7 | 6,166.5 |
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Group Summary
| Group Summary | ||||||
|---|---|---|---|---|---|---|
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
| Unit | ||||||
| Cash Flow Statement | ||||||
| Cash Flows from Operating Activities | ||||||
| Cash receipts in the course of operations | A$m | 12,698.7 | 14,126.7 | 11,896.7 | 16,028.4 | 16,254.6 |
| Cash payments in the course of operations | A$m | (12,598.1) | (13,117.3) | (11,866.7) | (15,154.9) | (15,928.7) |
| Interest received | A$m | 32.1 | 23.7 | 15.2 | 12.8 | 9.9 |
| Interest paid | A$m | (116.3) | (149.6) | (151.2) | (134.8) | (120.4) |
| Dividends/distributions received | A$m | 29.8 | 65.1 | 61.4 | 90.0 | 75.4 |
| Income tax received/(paid) in respect of operations | A$m | 34.7 | (126.2) | (122.0) | 11.5 | (144.8) |
| Net cash provided by/(used in) operating activities | A$m | 80.9 | 822.4 | (166.6) | 853.0 | 146.0 |
| Cash Flows from Investing Activities | ||||||
| Sale/redemption of investments | A$m | 397.6 | 147.7 | 615.0 | 330.5 | 164.9 |
| Sale of asset held for sale | A$m | - | - | - | - | - |
| Acquisition of investments | A$m | (274.5) | (606.0) | (653.0) | (563.2) | (257.3) |
| Sale of investment properties | A$m | 9.8 | 17.8 | - | - | - |
| Acquisition of/capital expenditure on investment properties | A$m | (252.8) | (119.4) | (209.2) | (25.7) | (244.4) |
| Net loans from/(to) associates and joint ventures | A$m | 145.5 | 27.3 | (22.5) | 38.6 | 5.7 |
| Acquisition of consolidated entities (net of cash acquired and acquisition costs) | A$m | - | 30.7 | (5.7) | - | - |
| Disposal of consolidated entities (net of cash disposed and transaction costs) | A$m | 213.7 | (7.5) | 7.0 | 382.5 | 548.4 |
| Disposal of property, plant and equipment | A$m | 6.1 | 26.9 | 11.7 | 16.7 | 13.1 |
| Acquisition of property, plant and equipment | A$m | (54.5) | (49.5) | (57.4) | (132.7) | (136.4) |
| Acquisition of intangible assets | A$m | (37.1) | (76.0) | (67.3) | (46.1) | (23.9) |
| Other investing activities | A$m | - | (6.5) | (2.0) | - | - |
| Net cash provided by/(used in) investing activities | A$m | 153.8 | (614.5) | (383.4) | 0.6 | 70.1 |
| Cash Flows from Financing Activities | ||||||
| Proceeds from borrowings | A$m | 778.2 | 1,230.6 | 2,276.6 | 5,327.6 | 2,800.6 |
| Repayment of borrowings | A$m | (231.5) | (950.2) | (2,333.4) | (5,626.0) | (2,576.8) |
| Dividends/distributions paid | A$m | (216.7) | (210.1) | (374.2) | (293.2) | (337.9) |
| Proceeds from sale of treasury activities | A$m | - | - | - | - | 106.5 |
| Other financing activities | A$m | (38.8) | (180.7) | (34.2) | (28.8) | (20.9) |
| Increase in capital of non controlling interest | A$m | - | - | - | - | 37.0 |
| Net cash used in financing activities | A$m | 291.2 | (110.4) | (465.2) | (620.4) | 8.5 |
| Effect of foreign exchange rate movements on cash and cash equivalents | A$m | 31.2 | 8.8 | 49.5 | 25.1 | 16.2 |
| Net increase/(decrease) in cash and cash equivalents | A$m | 557.1 | 106.3 | (965.7) | 258.3 | 240.8 |
| Cash and cash equivalents at beginning of financial year | A$m | 1,052.4 | 1,609.5 | 1,715.8 | 750.1 | 1,008.4 |
| Cash and cash equivalents at end of financial year | A$m | 1,609.5 | 1,715.8 | 750.1 | 1,008.4 | 1,249.2 |
| Profit and Loss by Segment | ||||||
| Development Revenue | A$m | 2,313.0 | 1,875.4 | 2,543.9 | 3,433.0 | |
| Construction Revenue | A$m | 11,016.0 | 10,936.9 | 12,032.4 | 12,644.5 | |
| Australia | A$m | 6,459.2 | 5,912.7 | 6,271.0 | 6,440.5 | |
| Asia | A$m | 497.9 | 225.0 | 334.2 | 502.6 | |
| Europe | A$m | 1,079.7 | 1,258.0 | 1,341.3 | 1,117.3 | |
| Americas | A$m | 2,979.2 | 3,541.2 | 4,085.9 | 4,584.1 | |
| Investments Revenue | A$m | 625.3 | 468.0 | 510.5 | 566.7 | |
| Development EBITDA | A$m | 698.9 | 386.1 | 500.2 | 552.4 | |
| Australia | A$m | 96.7 | 336.8 | 391.5 | 497.8 | |
| Asia | A$m | (4.9) | (11.7) | (19.1) | (13.5) | |
| Europe | A$m | 612.1 | 66.3 | 139.5 | 68.3 | |
| Americas | A$m | (5.0) | (5.3) | (11.7) | (0.2) | |
| Construction EBITDA | A$m | 271.5 | 279.0 | 288.1 | 338.3 | |
| Australia | A$m | 188.6 | 152.6 | 231.8 | 201.4 | |
| Asia | A$m | 18.7 | (13.5) | (5.6) | (0.2) | |
| Europe | A$m | (25.1) | 23.0 | 5.5 | 31.7 | |
| Americas | A$m | 89.3 | 116.9 | 56.4 | 105.4 | |
| Investments EBITDA | A$m | 434.0 | 477.8 | 457.7 | 495.3 | |
| Australia | A$m | 305.1 | 329.5 | 348.5 | 393.3 | |
| Asia | A$m | 80.3 | 64.3 | 14.3 | 35.1 | |
| Europe | A$m | 4.6 | 40.2 | 35.1 | 10.2 | |
| Americas | A$m | 44.0 | 43.8 | 59.8 | 56.7 | |
| Development PAT | A$m | 523.3 | 277.2 | 366.4 | 397.8 | |
| Australia | A$m | 66.7 | 241.4 | 275.6 | 348.1 | |
| Asia | A$m | (5.3) | (10.4) | (18.7) | (11.9) | |
| Europe | A$m | 458.7 | 48.8 | 116.4 | 60.2 | |
| Americas | A$m | 3.2 | (2.6) | (6.9) | 1.4 | |
| Construction PAT | A$m | 144.4 | 159.0 | 190.9 | 211.7 | |
| Australia | A$m | 104.3 | 89.3 | 146.1 | 124.9 | |
| Asia | A$m | 13.2 | (15.8) | (6.4) | (2.5) | |
| Europe | A$m | (24.0) | 18.5 | 4.1 | 23.5 | |
| Americas | A$m | 50.9 | 67.0 | 47.1 | 65.8 | |
| Investments PAT | A$m | 377.8 | 408.6 | 370.7 | 381.4 | |
| Australia | A$m | 275.0 | 294.4 | 297.4 | 305.9 | |
| Asia | A$m | 65.8 | 43.5 | 4.8 | 28.1 | |
| Europe | A$m | 12.2 | 45.0 | 30.3 | 11.7 | |
| Americas | A$m | 24.8 | 25.7 | 38.2 | 35.7 |
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Group Summary
| Group Summary | ||||||
|---|---|---|---|---|---|---|
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
| Unit | ||||||
| Profit and Loss by Region | ||||||
| Operating Revenue6 | A$m | 13,177.3 | 13,954.3 | 13,280.3 | 15,086.8 | 16,644.2 |
| Operating EBITDA6 | A$m | 909.3 | 1,404.4 | 1,142.9 | 1,246.0 | 1,386.0 |
| Australia | A$m | 614.7 | 590.4 | 818.9 | 971.8 | 1,092.5 |
| Asia | A$m | 128.0 | 94.1 | 39.1 | (10.4) | 21.4 |
| Europe | A$m | 74.0 | 591.6 | 129.5 | 180.1 | 110.2 |
| Americas | A$m | 92.6 | 128.3 | 155.4 | 104.5 | 161.9 |
| Operating Profit after Tax6 | A$m | 768.3 | 1,045.5 | 844.8 | 928.0 | 990.9 |
| Australia | A$m | 506.6 | 446.0 | 625.1 | 719.1 | 778.9 |
| Asia | A$m | 112.6 | 73.7 | 17.3 | (20.3) | 13.7 |
| Europe | A$m | 95.4 | 446.9 | 112.3 | 150.8 | 95.4 |
| Americas | A$m | 53.7 | 78.9 | 90.1 | 78.4 | 102.9 |
End of sheet
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Development
| Development | ||||||
|---|---|---|---|---|---|---|
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
| Unit | ||||||
| Profit and Loss | ||||||
| Development Revenue | A$m | 2,313.0 | 1,875.4 | 2,543.9 | 3,433.0 | |
| Australia | A$m | 917.0 | 1,508.6 | 2,034.4 | 3,142.0 | |
| Asia | A$m | 12.5 | 1.0 | 17.5 | 19.6 | |
| Europe | A$m | 1,360.0 | 317.6 | 431.7 | 203.6 | |
| Americas | A$m | 23.5 | 48.2 | 60.3 | 67.8 | |
| Development EBITDA | A$m | 698.9 | 386.1 | 500.2 | 552.4 | |
| Australia | A$m | 96.7 | 336.8 | 391.5 | 497.8 | |
| Asia | A$m | (4.9) | (11.7) | (19.1) | (13.5) | |
| Europe | A$m | 612.1 | 66.3 | 139.5 | 68.3 | |
| Americas | A$m | (5.0) | (5.3) | (11.7) | (0.2) | |
| Development PAT | A$m | 523.3 | 277.2 | 366.4 | 397.8 | |
| Australia | A$m | 66.7 | 241.4 | 275.6 | 348.1 | |
| Asia | A$m | (5.3) | (10.4) | (18.7) | (11.9) | |
| Europe | A$m | 458.7 | 48.8 | 116.4 | 60.2 | |
| Americas | A$m | 3.2 | (2.6) | (6.9) | 1.4 | |
| Development ROIC | % | 23.6% | 9.7% | 11.7% | 13.7% | |
| Development Capital Invested | A$b | 2.4 | 3.3 | 2.9 | 3.0 | |
| Development Pipeline | A$b | 37.4 | 37.7 | 44.9 | 48.8 | 49.3 |
| Development Pipeline | ||||||
| Pipeline - Communities & Retirement | A$b | 14.3 | 12.7 | 12.1 | 11.5 | 14.7 |
| Australia | A$b | 12.1 | 11.5 | 14.7 | ||
| Pipeline - Urbanisation | A$b | 23.1 | 25.0 | 32.8 | 37.3 | 34.6 |
| Australia | A$b | 14.8 | 17.5 | 16.2 | ||
| Asia | A$b | 5.8 | 5.9 | 6.1 | ||
| Europe | A$b | 9.4 | 10.5 | 8.0 | ||
| Americas | A$b | 2.8 | 3.4 | 4.3 | ||
| Total pipeline | A$b | 37.4 | 37.7 | 44.9 | 48.8 | 49.3 |
| Australia | A$b | 26.9 | 29.0 | 30.9 | ||
| Asia | A$b | 5.8 | 5.9 | 6.1 | ||
| Europe | A$b | 9.4 | 10.5 | 8.0 | ||
| Americas | A$b | 2.8 | 3.4 | 4.3 | ||
| Communities & Retirement | ||||||
| Pre-sold | no. | 1,312 | 1,842 | 2,138 | 2,903 | 3,896 |
| Remaining | no. | 59,340 | 56,713 | 53,468 | 53,820 | 53,219 |
| Total pipeline | no. | 60,652 | 58,555 | 55,606 | 56,723 | 57,115 |
| Pre-sold | A$b | 0.3 | 0.4 | 0.5 | 0.7 | 0.9 |
| Remaining | A$b | 14.0 | 12.3 | 11.6 | 10.8 | 13.8 |
| Total pipeline | A$b | 14.3 | 12.7 | 12.1 | 11.5 | 14.7 |
| Urbanisation | ||||||
| Apartments | ||||||
| In-delivery - for sale (pre-sold only) | no. | 5,073 | 3,177 | |||
| In-delivery - for rent | no. | 850 | ||||
| Remaining | no. | 20,417 | 18,325 | |||
| Total pipeline | no. | 25,490 | 22,352 | |||
| Commercial | ||||||
| In-delivery | sqm '000 | 375 | 537 | |||
| Remaining | sqm '000 | 836 | 513 | |||
| Total pipeline | sqm '000 | 1,211 | 1,050 | |||
| Apartments | ||||||
| In-delivery - for sale (pre-sold only) | A$b | 3.3 | ||||
| In-delivery - for rent | A$b | 0.5 | ||||
| Remaining | A$b | 17.9 | ||||
| Total pipeline | A$b | 21.7 | ||||
| Commercial | ||||||
| In-delivery | A$b | 6.5 | ||||
| Remaining | A$b | 6.4 | ||||
| Total pipeline | A$b | 12.9 | ||||
| Major Urbanisation Projects1 | ||||||
| Projects | no. | 12 | 13 | |||
| Gateway cities | no. | 8 | 8 |
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==> picture [119 x 23] intentionally omitted <==
Development
| Development | ||||||
|---|---|---|---|---|---|---|
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
| Unit | ||||||
| Regional Summary | ||||||
| Communities & Retirement pipeline | no. | 60,652 | 58,555 | 55,606 | 56,723 | 57,115 |
| Australia | no. | 56,792 | 54,695 | 51,746 | 52,863 | 53,255 |
| Asia | no. | - | - | - | - | - |
| Europe | no. | - | - | - | - | - |
| Americas | no. | 3,860 | 3,860 | 3,860 | 3,860 | 3,860 |
| Communities & Retirement pipeline | A$b | 14.3 | 12.7 | 12.1 | 11.5 | 14.7 |
| Australia | A$b | 12.1 | 11.5 | 14.7 | ||
| Apartments pipeline | no. | 20,013 | 19,109 | 25,960 | 25,490 | 22,352 |
| Australia | no. | 14,086 | 13,810 | 14,890 | 13,905 | 10,128 |
| Asia | no. | - | - | 2,225 | 2,230 | 2,755 |
| Europe | no. | 5,927 | 5,299 | 5,315 | 4,995 | 4,527 |
| Americas | no. | - | - | 3,530 | 4,360 | 4,942 |
| Urbanisation pipeline | A$b | 23.1 | 25.0 | 32.8 | 37.3 | 34.6 |
| Australia | A$b | 14.8 | 17.5 | 16.2 | ||
| Asia | A$b | 5.8 | 5.9 | 6.1 | ||
| Europe | A$b | 9.4 | 10.5 | 8.0 | ||
| Americas | A$b | 2.8 | 3.4 | 4.3 | ||
| Commercial pipeline | sqm / 000s | 1,205 | 1,237 | 1,368 | 1,211 | 1,050 |
| Australia | sqm / 000s | 706 | 764 | 637 | 604 | 420 |
| Asia | sqm / 000s | 32 | - | 368 | 369 | 308 |
| Europe | sqm / 000s | 389 | 402 | 311 | 230 | 302 |
| Americas | sqm / 000s | 78 | 71 | 52 | 8 | 20 |
27/08/2017 11:29 AM
==> picture [119 x 23] intentionally omitted <==
Development
| Development | ||||||
|---|---|---|---|---|---|---|
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
| Unit | ||||||
| Residential-for-sale Summary | ||||||
| Australian Communities | A$m | 965.7 | ||||
| Australian Apartments | A$m | 235.2 | ||||
| Asia Apartments | A$m | 228.0 | ||||
| Europe Apartments2 | A$m | 218.2 | ||||
| Americas Apartments | A$m | 42.0 | ||||
| Total Sales | A$m | 1,689.1 | ||||
| Australian Communities | A$m | 457.5 | 668.3 | 817.5 | 779.8 | 716.1 |
| Australian Apartments | A$m | 124.8 | 200.9 | 16.6 | 794.1 | 1,327.3 |
| Europe Apartments2 | A$m | 76.7 | 313.8 | 374.1 | 489.3 | |
| Total Completions | A$m | 945.9 | 1,147.9 | 1,948.0 | 2,532.7 | |
| Australian Communities | A$m | 251.3 | 405.2 | 494.0 | 697.4 | 947.0 |
| Australian Apartments | A$m | 364.4 | 1,127.5 | 3,413.7 | 3,874.4 | 2,782.3 |
| Asia Apartments | A$m | - | - | - | 228.0 | |
| Europe Apartments2 | A$m | 871.3 | 1,314.7 | 1,372.6 | 849.9 | |
| Americas Apartments | A$m | - | - | - | 42.0 | |
| Total Pre-sales | A$m | 2,404.0 | 5,222.4 | 5,944.4 | 4,849.2 | |
| Australian Communities | no. | 2,238 | 3,563 | 4,118 | 4,058 | 4,162 |
| Australian Apartments | no. | 288 | 993 | 2,531 | 1,357 | 321 |
| Asia Apartments | no. | - | - | - | 210 | |
| Europe Apartments2 | no. | 946 | 987 | 304 | 215 | |
| Americas Apartments | no. | - | - | - | 40 | |
| Total Sales | no. | 5,502 | 7,636 | 5,719 | 4,948 | |
| Australian Communities | no. | 2,295 | 3,033 | 3,822 | 3,402 | 3,060 |
| Australian Apartments | no. | 173 | 215 | 16 | 876 | 1,807 |
| Europe Apartments2 | no. | 177 | 424 | 327 | 726 | |
| Total Completions | no. | 3,425 | 4,262 | 4,605 | 5,593 | |
| Australian Communities | no. | 1,312 | 1,842 | 2,138 | 2,794 | 3,896 |
| Australian Apartments | no. | 505 | 1,283 | 3,798 | 4,279 | 2,793 |
| Asia Apartments | no. | - | - | - | - | 210 |
| Europe Apartments2 | no. | 1,095 | 1,658 | 1,635 | 1,124 | |
| Americas Apartments | no. | - | - | - | 40 | |
| Total Pre-sales | no. | 4,220 | 7,594 | 8,708 | 8,063 | |
| Sales | ||||||
| Australian Communities | Avg price $'000 | 232 | ||||
| Australian Apartments | Avg price $'000 | 734 | ||||
| Asia Apartments | Avg price $'000 | 1,086 | ||||
| Europe Apartments | Avg price $'000 | 1,015 | ||||
| Americas Apartments | Avg price $'000 | 1,050 | ||||
| Completions | ||||||
| Australian Communities | Avg price $'000 | 234 | ||||
| Australian Apartments | Avg price $'000 | 735 | ||||
| Europe Apartments | Avg price $'000 | 674 | ||||
| Pre-sales | ||||||
| Australian Communities | Avg price $'000 | 243 | ||||
| Australian Apartments | Avg price $'000 | 996 | ||||
| Asia Apartments | Avg price $'000 | 1,086 | ||||
| Europe Apartments | Avg price $'000 | 756 | ||||
| Americas Apartments | Avg price $'000 | 1,050 | ||||
| Retirement Development | ||||||
| Completions | A$m | 81.3 | ||||
| Sales | A$m | 81.3 | ||||
| Completions | no. | 227 | 185 | 176 | ||
| Sales | no. | 227 | 185 | 176 | ||
| Avg price | Avg price '000 | 462 |
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Development
| Development | ||||||
|---|---|---|---|---|---|---|
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
| Unit | ||||||
| Residential-for-rent Summary | ||||||
| Americas | A$b | 0.5 | ||||
| New projects in delivery | A$b | 0.5 | ||||
| Americas | No. buildings | 3 | ||||
| New projects in delivery | No. buildings | 3 | ||||
| Americas | No. units | 850 | ||||
| New projects in delivery | No. units | 850 | ||||
| Commercial Summary | ||||||
| Australia | A$b | 0.7 | 2.5 | |||
| New projects in delivery | A$b | 0.7 | 2.5 | |||
| Australia | sqm '000 | 63 | 134 | |||
| New projects in delivery | sqm '000 | 63 | 134 | |||
| Australia | No. buildings | 2 | 4 | |||
| New projects in delivery | No. buildings | 2 | 4 | |||
| Asia | A$b | 2.6 | 1.3 | |||
| New projects in delivery | A$b | 2.6 | 1.3 | |||
| Asia | sqm '000 | 113 | 154 | |||
| New projects in delivery | sqm '000 | 113 | 154 | |||
| Asia | No. buildings | 4 | 1 | |||
| New projects in delivery | No. buildings | 4 | 1 | |||
| Europe | A$b | 1.2 | - | |||
| New projects in delivery | A$b | 1.2 | - | |||
| Europe | sqm '000 | 73 | - | |||
| New projects in delivery | sqm '000 | 73 | - | |||
| Europe | No. buildings | 2 | - | |||
| New projects in delivery | No. buildings | 2 | - | |||
| Australia | A$b | 1.3 | 2.1 | |||
| Total Completions | A$b | 1.3 | 2.1 | |||
| Australia | sqm '000 | 100 | 109 | |||
| Total Completions | sqm '000 | 100 | 109 | |||
| Australia | No. buildings | 2 | 2 | |||
| Total Completions | No. buildings | 2 | 2 | |||
| Infrastructure | ||||||
| Americas | No. units | 288 | ||||
| Telecommunication Towers | No. units | 288 | ||||
| End of sheet |
27/08/2017 11:29 AM
Construction
==> picture [126 x 24] intentionally omitted <==
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
|---|---|---|---|---|---|---|
| Unit | ||||||
| Profit and Loss | ||||||
| Construction Revenue | A$m | 11,466.9 | 11,016.0 | 10,936.9 | 12,032.4 | 12,644.5 |
| Australia | A$m | 7,359.8 | 6,459.2 | 5,912.7 | 6,271.0 | 6,440.5 |
| Asia | A$m | 611.0 | 497.9 | 225.0 | 334.2 | 502.6 |
| Europe | A$m | 881.9 | 1,079.7 | 1,258.0 | 1,341.3 | 1,117.3 |
| Americas | A$m | 2,614.2 | 2,979.2 | 3,541.2 | 4,085.9 | 4,584.1 |
| Construction EBITDA | A$m | 312.0 | 271.5 | 279.0 | 288.1 | 338.3 |
| Australia | A$m | 226.0 | 188.6 | 152.6 | 231.8 | 201.4 |
| Asia | A$m | 56.3 | 18.7 | (13.5) | (5.6) | (0.2) |
| Europe | A$m | (19.9) | (25.1) | 23.0 | 5.5 | 31.7 |
| Americas | A$m | 49.6 | 89.3 | 116.9 | 56.4 | 105.4 |
| Construction PAT | A$m | 188.7 | 144.4 | 159.0 | 190.9 | 211.7 |
| Australia | A$m | 152.7 | 104.3 | 89.3 | 146.1 | 124.9 |
| Asia | A$m | 28.6 | 13.2 | (15.8) | (6.4) | (2.5) |
| Europe | A$m | (19.1) | (24.0) | 18.5 | 4.1 | 23.5 |
| Americas | A$m | 26.5 | 50.9 | 67.0 | 47.1 | 65.8 |
| Construction EBITDA Margin | % | 2.7% | 2.5% | 2.6% | 2.4% | 2.7% |
| Australia | % | 3.1% | 2.9% | 2.6% | 3.7% | 3.1% |
| Asia | % | 9.2% | 3.8% | (6.0%) | (1.7%) | 0.0% |
| Europe | % | (2.3%) | (2.3%) | 1.8% | 0.4% | 2.8% |
| Americas | % | 1.9% | 3.0% | 3.3% | 1.4% | 2.3% |
| Total Segment | ||||||
| Revenue | ||||||
| Total | A$m | 11,466.9 | 11,016.0 | 10,936.9 | 12,032.4 | 12,644.5 |
| New Work Secured2 | ||||||
| Building | A$b | 9.7 | 7.3 | 9.1 | 10.8 | 11.1 |
| Engineering | A$b | 2.2 | 1.7 | 1.8 | 2.8 | 1.1 |
| Services | A$b | 0.8 | 1.2 | 0.9 | 1.0 | 1.0 |
| Total | A$b | 12.7 | 10.1 | 11.8 | 14.6 | 13.2 |
| Backlog revenue2 | ||||||
| Building | A$b | 12.9 | 13.1 | 13.6 | 15.1 | 15.7 |
| Engineering | A$b | 2.7 | 2.1 | 2.4 | 3.8 | 3.1 |
| Services | A$b | 0.6 | 1.0 | 1.3 | 1.7 | 1.8 |
| Total | A$b | 16.2 | 16.2 | 17.3 | 20.7 | 20.6 |
| Book to bill | ||||||
| Total | ratio | 1.1 | 0.9 | 1.1 | 1.2 | 1.0 |
| Backlog realisation1 | ||||||
| Next 12 months | % | 56% | 55% | 52% | 51% | 56% |
| 12 - 24 months | % | 25% | 26% | 25% | 29% | 28% |
| Beyond 24 months | % | 19% | 19% | 23% | 20% | 16% |
| Australia | ||||||
| Revenue | ||||||
| Total | A$m | 7,359.8 | 6,459.2 | 5,912.7 | 6,271.0 | 6,440.5 |
| New Work Secured2 | ||||||
| Building | A$b | 4.8 | 3.8 | 3.9 | 4.5 | 3.9 |
| Engineering | A$b | 2.1 | 1.6 | 1.7 | 2.7 | 1.0 |
| Services | A$b | 0.8 | 1.2 | 0.9 | 1.0 | 1.0 |
| Total | A$b | 7.7 | 6.6 | 6.6 | 8.3 | 5.9 |
| Backlog revenue2 | ||||||
| Building | A$b | 6.3 | 6.5 | 6.3 | 6.3 | 6.3 |
| Engineering | A$b | 2.6 | 2.0 | 2.3 | 3.8 | 3.1 |
| Services | A$b | 0.6 | 1.0 | 1.3 | 1.7 | 1.8 |
| Total | A$b | 9.6 | 9.6 | 9.9 | 11.9 | 11.2 |
| Book to bill | ||||||
| Total | ratio | 1.0 | 1.0 | 1.1 | 1.3 | 0.9 |
| Backlog realisation1 | ||||||
| Next 12 months | % | 58% | 54% | 49% | 47% | 57% |
| 12 - 24 months | % | 24% | 29% | 24% | 30% | 28% |
| Beyond 24 months | % | 18% | 17% | 27% | 23% | 15% |
27/08/2017 11:29 AM
Construction
==> picture [126 x 24] intentionally omitted <==
| Construction | ||||||
|---|---|---|---|---|---|---|
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
| Unit | ||||||
| Asia | ||||||
| Revenue | ||||||
| Total | A$m | 611.0 | 497.9 | 225.0 | 334.2 | 502.6 |
| New Work Secured2 | ||||||
| Building | A$b | 0.3 | 0.1 | 0.4 | 0.5 | 0.7 |
| Engineering | A$b | 0.1 | 0.1 | 0.1 | - | 0.1 |
| Total | A$b | 0.4 | 0.2 | 0.5 | 0.5 | 0.8 |
| Backlog revenue2 | ||||||
| Building | A$b | 0.4 | 0.1 | 0.4 | 0.6 | 0.8 |
| Engineering | A$b | 0.1 | - | - | - | - |
| Total | A$b | 0.5 | 0.1 | 0.4 | 0.6 | 0.8 |
| Book to bill | ||||||
| Total | ratio | 0.7 | 0.4 | 2.2 | 1.5 | 1.6 |
| Backlog realisation1 | ||||||
| Next 12 months | % | 85% | 82% | 69% | 91% | 69% |
| 12 - 24 months | % | 14% | 18% | 26% | 7% | 2% |
| Beyond 24 months | % | 1% | 0% | 5% | 2% | 29% |
| Europe | ||||||
| Revenue | ||||||
| Total | A$m | 881.9 | 1,079.7 | 1,258.0 | 1,341.3 | 1,117.3 |
| New Work Secured2 | ||||||
| Building | A$b | 1.1 | 0.7 | 1.6 | 1.3 | 0.7 |
| Total | A$b | 1.1 | 0.7 | 1.6 | 1.3 | 0.7 |
| Backlog revenue2 | ||||||
| Building | A$b | 1.3 | 1.1 | 1.5 | 1.5 | 0.8 |
| Total | A$b | 1.3 | 1.1 | 1.5 | 1.5 | 0.8 |
| Book to bill | ||||||
| Total | ratio | 1.2 | 0.6 | 1.3 | 1.0 | 0.6 |
| Backlog realisation1 | ||||||
| Next 12 months | % | 60% | 88% | 66% | 71% | 66% |
| 12 - 24 months | % | 34% | 8% | 25% | 17% | 28% |
| Beyond 24 months | % | 6% | 4% | 9% | 12% | 6% |
| Americas | ||||||
| Revenue | ||||||
| Total | A$m | 2,614.2 | 2,979.2 | 3,541.2 | 4,085.9 | 4,584.1 |
| New Work Secured2 | ||||||
| Building | A$b | 3.5 | 2.8 | 3.2 | 4.5 | 5.8 |
| Total | A$b | 3.5 | 2.8 | 3.2 | 4.5 | 5.8 |
| Backlog revenue2 | ||||||
| Building | A$b | 4.9 | 5.4 | 5.5 | 6.7 | 7.8 |
| Total | A$b | 4.9 | 5.4 | 5.5 | 6.7 | 7.8 |
| Book to bill | ||||||
| Total | ratio | 1.3 | 0.9 | 0.9 | 1.1 | 1.3 |
| Backlog realisation1 | ||||||
| Next 12 months | % | 50% | 50% | 53% | 49% | 53% |
| 12 - 24 months | % | 24% | 24% | 25% | 33% | 31% |
| Beyond 24 months | % | 26% | 26% | 22% | 18% | 16% |
27/08/2017 11:29 AM
Construction
==> picture [126 x 24] intentionally omitted <==
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
|---|---|---|---|---|---|---|
| Unit | ||||||
| By Region & Type | ||||||
| Revenue | ||||||
| Total | A$m | 11,466.9 | 11,016.0 | 10,936.9 | 12,032.4 | 12,644.5 |
| Australia | A$m | 7,359.8 | 6,459.2 | 5,912.7 | 6,271.0 | 6,440.5 |
| Asia | A$m | 611.0 | 497.9 | 225.0 | 334.2 | 502.6 |
| Europe | A$m | 881.9 | 1,079.7 | 1,258.0 | 1,341.3 | 1,117.3 |
| Americas | A$m | 2,614.2 | 2,979.2 | 3,541.2 | 4,085.9 | 4,584.1 |
| New Work Secured2 | ||||||
| Building | A$b | 9.7 | 7.3 | 9.1 | 10.8 | 11.1 |
| Australia | A$b | 4.8 | 3.8 | 3.9 | 4.5 | 3.9 |
| Asia | A$b | 0.3 | 0.1 | 0.4 | 0.5 | 0.7 |
| Europe | A$b | 1.1 | 0.7 | 1.6 | 1.3 | 0.7 |
| Americas | A$b | 3.5 | 2.8 | 3.2 | 4.5 | 5.8 |
| Engineering | A$b | 2.2 | 1.7 | 1.8 | 2.8 | 1.1 |
| Australia | A$b | 2.1 | 1.6 | 1.7 | 2.7 | 1.0 |
| Asia | A$b | 0.1 | 0.1 | 0.1 | - | 0.1 |
| Services | A$b | 0.8 | 1.2 | 0.9 | 1.0 | 1.0 |
| Australia | A$b | 0.8 | 1.2 | 0.9 | 1.0 | 1.0 |
| Total | A$b | 12.7 | 10.1 | 11.8 | 14.6 | 13.2 |
| Australia | A$b | 7.7 | 6.6 | 6.6 | 8.3 | 5.9 |
| Asia | A$b | 0.4 | 0.2 | 0.5 | 0.5 | 0.8 |
| Europe | A$b | 1.1 | 0.7 | 1.6 | 1.3 | 0.7 |
| Americas | A$b | 3.5 | 2.8 | 3.2 | 4.5 | 5.8 |
| Backlog revenue2 | ||||||
| Building | A$b | 12.9 | 13.1 | 13.6 | 15.1 | 15.7 |
| Australia | A$b | 6.3 | 6.5 | 6.3 | 6.3 | 6.3 |
| Asia | A$b | 0.4 | 0.1 | 0.4 | 0.6 | 0.8 |
| Europe | A$b | 1.3 | 1.1 | 1.5 | 1.5 | 0.8 |
| Americas | A$b | 4.9 | 5.4 | 5.5 | 6.7 | 7.8 |
| Engineering | A$b | 2.7 | 2.1 | 2.4 | 3.8 | 3.1 |
| Australia | A$b | 2.6 | 2.0 | 2.3 | 3.8 | 3.1 |
| Asia | A$b | 0.1 | - | - | - | - |
| Services | A$b | 0.6 | 1.0 | 1.3 | 1.7 | 1.8 |
| Australia | A$b | 0.6 | 1.0 | 1.3 | 1.7 | 1.8 |
| Total | A$b | 16.2 | 16.2 | 17.3 | 20.7 | 20.6 |
| Australia | A$b | 9.6 | 9.6 | 9.9 | 11.9 | 11.2 |
| Asia | A$b | 0.5 | 0.1 | 0.4 | 0.6 | 0.8 |
| Europe | A$b | 1.3 | 1.1 | 1.5 | 1.5 | 0.8 |
| Americas | A$b | 4.9 | 5.4 | 5.5 | 6.7 | 7.8 |
| Backlog realisation1 | ||||||
| Next 12 months | % | 56% | 55% | 52% | 51% | 56% |
| Australia | % | 58% | 54% | 49% | 47% | 57% |
| Asia | % | 85% | 82% | 69% | 91% | 69% |
| Europe | % | 60% | 88% | 66% | 71% | 66% |
| Americas | % | 50% | 50% | 53% | 49% | 53% |
| 12 - 24 months | % | 25% | 26% | 25% | 29% | 28% |
| Australia | % | 24% | 29% | 24% | 30% | 28% |
| Asia | % | 14% | 18% | 26% | 7% | 2% |
| Europe | % | 34% | 8% | 25% | 17% | 28% |
| Americas | % | 24% | 24% | 25% | 33% | 31% |
| Beyond 24 months | % | 19% | 19% | 23% | 20% | 16% |
| Australia | % | 18% | 17% | 27% | 23% | 15% |
| Asia | % | 1% | 0% | 5% | 2% | 29% |
| Europe | % | 6% | 4% | 9% | 12% | 6% |
| Americas | % | 26% | 26% | 22% | 18% | 16% |
| End of sheet |
27/08/2017 11:29 AM
Investments
==> picture [150 x 28] intentionally omitted <==
| Investments | ||||||
|---|---|---|---|---|---|---|
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
| Unit | ||||||
| Profit and Loss | ||||||
| Investments Revenue | A$m | 625.3 | 468.0 | 510.5 | 566.7 | |
| Australia | A$m | 259.0 | 322.3 | 359.7 | 447.2 | |
| Asia | A$m | 90.8 | 45.5 | 54.9 | 52.0 | |
| Europe | A$m | 226.2 | 48.0 | 25.1 | 7.9 | |
| Americas | A$m | 49.3 | 52.2 | 70.8 | 59.6 | |
| Investments EBITDA | A$m | 434.0 | 477.8 | 457.7 | 495.3 | |
| Australia | A$m | 305.1 | 329.5 | 348.5 | 393.3 | |
| Asia | A$m | 80.3 | 64.3 | 14.3 | 35.1 | |
| Europe | A$m | 4.6 | 40.2 | 35.1 | 10.2 | |
| Americas | A$m | 44.0 | 43.8 | 59.8 | 56.7 | |
| Investments PAT | A$m | 377.8 | 408.6 | 370.7 | 381.4 | |
| Australia | A$m | 275.0 | 294.4 | 297.4 | 305.9 | |
| Asia | A$m | 65.8 | 43.5 | 4.8 | 28.1 | |
| Europe | A$m | 12.2 | 45.0 | 30.3 | 11.7 | |
| Americas | A$m | 24.8 | 25.7 | 38.2 | 35.7 | |
| Investments EBITDA by activity | ||||||
| Ownership interests | A$m | 364 | 350 | 379 | ||
| Operating earnings | A$m | 114 | 108 | 116 | ||
| Investments ROIC1 | % | 15.0% | 14.2% | 11.2% | 11.7% | |
| Investments - invested capital | A$b | 2.6 | 3.1 | 3.2 | 3.3 | |
| Operational Metrics (Investments Segment) | ||||||
| Investments | ||||||
| Co-Investments | A$m | 1,529.4 | 1,160.4 | 1,251.6 | 1,380.2 | 1,457.1 |
| Australia | A$m | 335.8 | 821.1 | 814.0 | 974.7 | 1,139.7 |
| Asia | A$m | 228.1 | 255.3 | 361.5 | 339.8 | 317.4 |
| Europe | A$m | 965.5 | 84.0 | 76.1 | 65.7 | - |
| Americas | A$m | - | - | - | - | - |
| Retirement ownership - Australia | A$m | 1,063.7 | 1,328.8 | 1,580.2 | 1,488.3 | 1,710.7 |
| Infrastructure investment | A$m | 76.3 | 117.5 | 130.5 | 124.6 | 160.8 |
| Australia | A$m | - | 15.0 | 15.2 | 15.2 | 15.2 |
| Asia | A$m | - | - | - | - | - |
| Europe | A$m | 6.6 | 7.3 | 6.1 | - | - |
| Americas | A$m | 69.7 | 95.2 | 109.2 | 109.4 | 145.6 |
| Total Investments | A$m | 2,669.4 | 2,606.7 | 2,962.3 | 2,993.1 | 3,328.6 |
| Investments by Region | ||||||
| Australia | A$m | 1,399.5 | 2,164.9 | 2,409.4 | 2,478.2 | 2,865.6 |
| Asia | A$m | 228.1 | 255.3 | 361.5 | 339.8 | 317.4 |
| Europe | A$m | 972.1 | 91.3 | 82.2 | 65.7 | - |
| Americas | A$m | 69.7 | 95.2 | 109.2 | 109.4 | 145.6 |
| Funds Under Management | ||||||
| Total | A$b | 15.0 | 16.3 | 21.3 | 23.6 | 26.1 |
| Australia | A$b | 10.3 | 10.9 | 13.8 | 16.5 | 19.3 |
| Asia | A$b | 3.3 | 3.6 | 5.3 | 5.6 | 5.4 |
| Europe | A$b | 1.4 | 1.8 | 2.2 | 1.5 | 1.4 |
| Americas | A$b | - | - | - | - | - |
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Investments
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| Investments | ||||||
|---|---|---|---|---|---|---|
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
| Unit | ||||||
| Retail Assets Under Management | ||||||
| Number of retail centres | no. | 23 | 22 | 22 | 22 | 22 |
| Australia | no. | 16 | 16 | 16 | 16 | 16 |
| Asia | no. | 4 | 4 | 4 | 4 | 4 |
| Europe | no. | 3 | 2 | 2 | 2 | 2 |
| Americas | no. | - | - | - | - | - |
| AUM $b | A$b | 12.5 | 10.7 | 11.4 | 11.7 | 12.2 |
| Australia | A$b | 5.3 | 6.0 | 6.1 | 6.4 | 7.2 |
| Asia | A$b | 3.5 | 3.8 | 4.3 | 4.4 | 4.2 |
| Europe | A$b | 3.6 | 0.9 | 1.0 | 0.9 | 0.8 |
| Americas | A$b | - | - | - | - | - |
| GLA under management (sqm/000s) | sqm / 000s | 1,241.7 | 1,189.6 | 1,177.4 | 1,158.7 | 1,201.5 |
| Australia | sqm / 000s | 707.2 | 753.1 | 740.9 | 722.2 | 747.3 |
| Asia | sqm / 000s | 240.0 | 294.8 | 294.8 | 294.8 | 312.5 |
| Europe | sqm / 000s | 294.5 | 141.7 | 141.7 | 141.7 | 141.7 |
| Americas | sqm / 000s | - | - | - | - | - |
| Retirement | ||||||
| Villages - owned | ||||||
| Australia | no. | 59 | 66 | 74 | 69 | 71 |
| Villages - managed/leased/other | ||||||
| Australia | no. | 12 | 4 | 4 | 4 | - |
| Total number of villages | ||||||
| Australia | no. | 71 | 70 | 78 | 73 | 71 |
| Units - owned | ||||||
| Australia | no. | 9,215 | 11,612 | 12,981 | 12,172 | 12,626 |
| Units - managed/leased/other | ||||||
| Australia | no. | 3,202 | 1,212 | 1,212 | 1,212 | - |
| Total number of units | ||||||
| Australia | no. | 12,417 | 12,824 | 14,193 | 13,384 | 12,626 |
| Number of resale units | ||||||
| Australia | no. | 794 | 1,082 | 1,038 | 939 | |
| Long term growth rate | ||||||
| Australia | % | 3.9% | 3.8% | 3.7% | 3.7% | 3.6% |
| Discount rate | ||||||
| Australia | % | 13.2% | 13.3% | 13.3% | 13.3% | 13.0% |
| Infrastructure | ||||||
| Units under management | no. | 52,900 | 54,655 | 54,205 | 53,055 | 53,105 |
| Americas | no. | 52,900 | 54,655 | 54,205 | 53,055 | 53,105 |
| Telecommunication Towers | no. | 135 | ||||
| Americas | no. | 135 |
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Investments
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| Investments | ||||||
|---|---|---|---|---|---|---|
| FY13 | FY14 | FY15 | FY16 | FY17 | ||
| Unit | ||||||
| Australia | ||||||
| FUM $b | A$b | 10.3 | 10.9 | 13.8 | 16.5 | 19.3 |
| AUM | ||||||
| Number of retail centres | no. | 16 | 16 | 16 | 16 | 16 |
| AUM $b | A$b | 5.3 | 6.0 | 6.1 | 6.4 | 7.2 |
| GLA under management (sqm/000s) | sqm / 000s | 707.2 | 753.1 | 740.9 | 722.2 | 747.3 |
| Investments $m | ||||||
| Co-Investments | A$m | 335.8 | 821.1 | 814.0 | 974.7 | 1,139.7 |
| Retirement ownership | A$m | 1,063.7 | 1,328.8 | 1,580.2 | 1,488.3 | 1,710.7 |
| Infrastructure investment | A$m | - | 15.0 | 15.2 | 15.2 | 15.2 |
| Total | A$m | 1,399.5 | 2,164.9 | 2,409.4 | 2,478.2 | 2,865.6 |
| Retirement | ||||||
| Villages - owned | no. | 59 | 66 | 74 | 69 | 71 |
| Villages - managed/leased/other | no. | 12 | 4 | 4 | 4 | - |
| Total number of villages | no. | 71 | 70 | 78 | 73 | 71 |
| Units - owned | no. | 9,215 | 11,612 | 12,981 | 12,172 | 12,626 |
| Units - managed/leased/other | no. | 3,202 | 1,212 | 1,212 | 1,212 | - |
| Total number of Units | no. | 12,417 | 12,824 | 14,193 | 13,384 | 12,626 |
| Number of resale units | no. | 794 | 1,082 | 1,038 | 939 | |
| Long term growth rate | % | 3.9% | 3.8% | 3.7% | 3.7% | 3.6% |
| Discount rate | % | 13.2% | 13.3% | 13.3% | 13.3% | 13.0% |
| Asia | ||||||
| FUM $b | A$b | 3.3 | 3.6 | 5.3 | 5.6 | 5.4 |
| AUM | ||||||
| Number of retail centres | no. | 4 | 4 | 4 | 4 | 4 |
| AUM $b | A$b | 3.5 | 3.8 | 4.3 | 4.4 | 4.2 |
| GLA under management (sqm/000s) | sqm / 000s | 240 | 294.8 | 294.8 | 294.8 | 312.5 |
| Investments $m | ||||||
| Co-Investments | A$m | 228.1 | 255.3 | 361.5 | 339.8 | 317.4 |
| Total | A$m | 228.1 | 255.3 | 361.5 | 339.8 | 317.4 |
| Europe | ||||||
| FUM $b | A$b | 1.4 | 1.8 | 2.2 | 1.5 | 1.4 |
| AUM | ||||||
| Number of retail centres | no. | 3 | 2 | 2 | 2 | 2 |
| AUM $b | A$b | 3.6 | 0.9 | 1.0 | 0.9 | 0.8 |
| GLA under management (sqm/000s) | sqm / 000s | 294.5 | 141.7 | 141.7 | 141.7 | 141.7 |
| Investments $m | ||||||
| Co-Investments | A$m | 965.5 | 84.0 | 76.1 | 65.7 | - |
| Infrastructure investment | A$m | 6.6 | 7.3 | 6.1 | - | - |
| Total | A$m | 972.1 | 91.3 | 82.2 | 65.7 | - |
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Investments
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| FY13 | FY14 | FY15 | FY16 | FY17 | ||
|---|---|---|---|---|---|---|
| Unit | ||||||
| Americas | ||||||
| Investments $m | ||||||
| Infrastructure investment | A$m | 69.7 | 95.2 | 109.2 | 109.4 | 145.6 |
| Total | A$m | 69.7 | 95.2 | 109.2 | 109.4 | 145.6 |
| Infrastructure | ||||||
| Units under management | no. | 52,900 | 54,655 | 54,205 | 53,055 | 53,105 |
| Telecommunication Towers | no. | 135 |
End of sheet
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Funds Under Management
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| FY13 | FY14 | FY15 | FY16 | FY17 | ||||
|---|---|---|---|---|---|---|---|---|
| Unit | Fund Type | Asset Class | ||||||
| Australia | ||||||||
| Funds Under Management | ||||||||
| Australian Prime Property Funds | A$b | Core | Various | - | - | - | - | - |
| Australian Prime Property Fund - Retail | A$b | Core | Retail | 4.7 | 4.4 | 4.6 | 5.0 | 5.2 |
| Australian Prime Property Fund - Commercial | A$b | Core | Commercial | 1.6 | 1.7 | 2.5 | 2.9 | 3.8 |
| Australian Prime Property Fund - Industrial | A$b | Core | Industrial | 0.6 | 0.6 | 0.8 | 0.9 | 0.8 |
| Lendlease Sub Regional Retail Fund | A$b | Core | Retail | - | - | 0.6 | 0.6 | 0.6 |
| Lendlease Core Plus Fund | A$b | Core Plus | Various | 0.4 | 0.4 | 0.1 | - | - |
| Lendlease Communities Fund 1 | A$b | Value Add | Residential | 0.1 | 0.1 | - | - | - |
| Lendlease Real Estate Partners 3 | A$b | Enhanced | Retail | 0.5 | 0.5 | - | - | - |
| Lendlease Real Estate Partners New Zealand | A$b | Enhanced | Retail | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 |
| Lendlease Retail Partners – Australia Fund | A$b | Core Plus | Retail | 0.1 | 0.1 | 0.1 | - | - |
| Lendlease International Towers Sydney Trust | A$b | Core | Commercial | 0.9 | 1.3 | 2.3 | 3.2 | 3.5 |
| Lendlease Public Infrastructure Investment Company | A$b | Core | Social Infrastructure | - | - | - | 0.4 | 0.4 |
| Lendlease One International Towers Sydney Trust | A$b | Core | Commercial | - | - | 0.9 | 1.3 | 2.0 |
| Managed Investment Mandates | A$b | Core | Various | 1.2 | 1.6 | 1.7 | 2.0 | 2.7 |
| Total FUM | A$b | 10.3 | 10.9 | 13.8 | 16.5 | 19.3 | ||
| Asia | ||||||||
| Funds Under Management | ||||||||
| Parkway Parade Partnership Limited | S$b | Core Plus | Retail and Commercial | 1.2 | 1.2 | 1.2 | 1.2 | 1.3 |
| Lendlease Jem Partners Fund Limited | S$b | Core | Retail and Commercial | 0.4 | 0.5 | 0.5 | 0.5 | 0.5 |
| Managed Investment Mandate | S$b | Value Add | Retail and Commercial | - | - | 1.3 | 1.4 | 1.5 |
| Lendlease Asian Retail Investment Fund (ARIF) | S$b | Core | Retail and Commercial | 2.5 | 2.5 | 2.5 | 2.5 | 2.4 |
| Total FUM | S$b | 4.1 | 4.2 | 5.5 | 5.6 | 5.7 | ||
| Europe | ||||||||
| Funds Under Management | ||||||||
| Lendlease Retail LP | £b | Core | Retail | 0.7 | 0.8 | 0.8 | 0.9 | 0.8 |
| Lendlease PFI/PPP Infrastructure Fund LP (UKIF) | £b | Core | Infrastructure | 0.2 | 0.2 | 0.2 | - | - |
| Total FUM | £b | 0.9 | 1.0 | 1.0 | 0.9 | 0.8 |
End of sheet
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Legend & Definitions
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Term
Definition
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Legend & Definitions
Term
Definition
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Footnotes
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Important Notice
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