HY23 Results release

2023 Half year results – Active six months in subdued market 

Dexus today announced its results for the half year ended 31 December 2022, confirming a distribution of 28.0 cents per security.

Highlights

• AFFO of 28.9 cents per security increased by 2.8% on the previous corresponding period and distributions of 28.0 cents per security were in line with the previous corresponding period
• Statutory net profit after tax of $23.1 million, down 97.1% from the previous corresponding period
• Rent collections remained strong at 98.9%
• Maintained a strong balance sheet with gearing (look-through) at 25.6%, substantial $3.0 billion headroom and 85% of debt hedged across HY23
• Maintained high occupancy of 95.3% for the Dexus office portfolio and 97.4% for the Dexus industrial portfolio
• Raised $553 million of new equity across the funds platform, including $200 million for Dexus Real Estate Partnership 1 (DREP1) and $220 million for Dexus Healthcare Property Fund (DHPF)
• Secured $48.7 million post tax trading profits for HY23 and approximately $5 million pre-tax to be realised across FY23 and FY24
• Announced $773 million balance sheet divestments, recycling capital into higher returning opportunities
• Progressed city-shaping developments at Atlassian Central and Waterfront Brisbane
• Continued leadership in environmental, social and governance performance with Dexus being recognised as a global leader in sustainability, achieving a Top 5% S&P Global ESG Score in the S&P Global Sustainability Yearbook 

Download the full release to read more.