HY22 Results release
2022 Half year results – Momentum in funds management and development
Dexus today announced its results for the half year ended 31 December 2021, confirming a distribution of 28.0 cents per security. Dexus raised $1.3 billion of new equity across its funds management business, secured development precommitments at its city-shaping project at Waterfront Brisbane and completed 154,534 square metres of industrial development leasing.
- Net profit after tax of $803.2 million, up 82.0% on the previous corresponding period
- Adjusted Funds from Operations (AFFO) of 28.1 cents per security, down 2.4%, and a distribution of 28.0 cents per security, down 2.8% on the previous corresponding period, primarily driven by lower trading profits of $21.6 million (post tax) in HY22
- Rent collections remained strong at 97.9%
- Gearing1 remains conservative at 31.1%
- $1.6 billion of cash and undrawn debt facilities
- Continued leadership in environmental, social and governance performance demonstrated by being the only real estate company to achieve a Gold Class distinction in the S&P Global Sustainability Yearbook 2022, retaining its leadership on the Dow Jones Sustainability Index, and achieving an A- score in the CDP Climate Change survey
- All funds performing with Dexus Wholesale Property Fund (DWPF) continuing to outperform its benchmark over three, five, seven and ten-year time periods and Dexus Healthcare Property Fund (DHPF) achieving a one-year return of 18.0%
- Raised $1.3 billion of new equity across existing funds since 30 June 2021
- High occupancy2 of 95.1% for the Dexus office portfolio and 98.6% for the Dexus industrial portfolio
- Progressed planning for city-shaping projects in the group’s $17.8 billion development pipeline
Download the release to read more.
Head of Listed Investor Relations