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MIRVAC GROUP — Earnings Release 2023
Aug 15, 2023
65328_rns_2023-08-15_b6a8be29-df6e-4125-9f06-25523b9f6855.pdf
Earnings Release
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MIRVAC GROUP Appendix 4E
For the year ended 30 June 2023
(Previous corresponding period 30 June 2022)
Mirvac Group comprises Mirvac Limited (ABN 92 003 280 699) and its controlled entities (including Mirvac Property Trust (ARSN 086 780 645) and its controlled entities)
Results for announcement to the market
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| $m | $m | ||||
| Total revenue and other income | down | 31% | to | 1,972 | 2,842 |
| (Loss)/profit for the year attributable to stapled | |||||
| securityholders | down | 118% | to | (165) | 906 |
| Operating profit after tax | down | 3% | to |
580 | 596 |
| Amount per | Franked amount | ||||
| Distributions | Record date | security | per security | ||
| Interim distribution paid on 28 February 2023 | 30 December 2022 | 5.2 cents | - | ||
| Final distribution payable on 31 August 2023 | 30 June 2023 | 5.3 cents | - | ||
| Total distribution for theyear | 10.5 cents | - |
Additional Information
| Additional Information | ||
|---|---|---|
| Ratios | 2023 | 20221 |
| Profit before income tax / Total revenue and other income | (9.2%) | 34.6% |
| Profit for the year attributable to stapled security holders / Total equity | (1.6%) | 8.1% |
| Earnings per stapled security (EPS) | 2023 | 2022 |
| Basic EPS | (4.2) cents | 23.0 cents |
| Diluted EPS2 | (4.2) cents | 23.0 cents |
| Net tangible asset (NTA) backing per ordinary security3 | 2023 | 20224 |
| Excluding EIS securities | $2.64 | $2.79 |
| Including EIS securities | $2.64 | $2.79 |
Results commentary
This document should be read in conjunction with the 2023 Mirvac Group Annual Report, media release and results presentation released to the Australian Securities Exchange, which also contains commentary on the results. For information regarding the Mirvac Group’s joint ventures and associates, details of entities over which control has been gained or lost during the year and accounting standards used by its foreign entity, refer to the notes of the consolidated financial statements contained in the Annual Report. The contents of this document are based on the consolidated financial statements of Mirvac Group, which have been audited by PricewaterhouseCoopers.
1 The comparative amounts have been restated for a change in accounting treatment for non-controlling interest.
2 Diluted EPS includes dilutive potential ordinary securities from security-based payments.
3 NTA excludes intangible assets, right-of-use assets and deferred tax assets.
4 The comparative amounts have been restated to exclude deferred tax assets.