onlyuseAnnual General Meeting 2021
Th rsday 2 December 2021 personalr
r personal use only
Today's Agenda
Annual General | Now |
Meetings |
Break
Scheme Meetings | 11AM |
2
FY21 Financial Highlights as at 30 June 2021
$179.2m | $3.71 | ||||
only | |||||
Statutory profit | Net tangible assets | ||||
after tax | per stapled security | ||||
use | +794.0% on FY20 | +24.0% on FY20 | |||
24.2% | $34.4m | ||||
Margin above book | Distributable | ||||
value for six | income | ||||
personalr | properties sold | +13.0% on FY20 | |||
21.5c | 36.4% | ||||
Distribution | Gearing ratio | ||||
per security | |||||
+2.8% on FY20 | -490 bps on FY20 | ||||
3
onlyuseFinancial Results personalr
4
Financial Performance
Strong profit growth based on rental onlydeterminations, CPI linked rents and strong investment property market
• Property revenue increased due to:
- Rent determinations received in Sept 2020 - CPI increase on determined rent for FY19
and FY20
use- Annual CPI increases for FY21
• Fair value increments to investment properties due to adopted yields decreasing 49 bps and increased passing net rents
• D ring the year 4 properties were sold and settled achieving prices 22.5% above book values
personal- Management expenses increased due to:
- Legal costs in relation to the challenge to the Victorian rental determination
- CEO transition costs
- All management positions filled for the whole year - Increased insurance costs
r
FY21 | FY20 | Change | ||
($'000) | ($'000) | ($'000) | (%) | |
Property revenue | 62,473 | 61,408 | 1,065 | 1.7% |
Other revenue | 99 | 301 | (202) | (9.4%) |
Total Revenue | 62,572 | 61,709 | 863 | 1.4% |
Fair value increments to investment properties | 141,301 | 10,930 | 130,371 | 1,192.8% |
Fair value increments to derivatives | 6,091 | - | 6,091 | - |
Profit on sale of investment properties | 4,230 | - | 4,230 | - |
Total other income | 151,622 | 10,930 | 140,692 | 1,287.2% |
Total revenue and other income | 214,194 | 72,639 | 141,555 | 194.9% |
Land tax | (3,329) | (3,313) | 16 | 0.5% |
Management expenses | (7,888) | (6,148) | (1,740) | 130.9% |
Finance costs | (23,540) | (25,856) | 2,316 | (8.9%) |
Fair value decrements to derivatives | - | (17,306) | 17,306 | - |
Income tax expense | (266) | 7 | (273) | - |
Profit after income tax | 179,171 | 20,023 | 159,148 | 794.0% |
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ALE Property Group published this content on 01 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2021 22:20:09 UTC.