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.

Highlights

• 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
  

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