The strength of the result delivered by Goodman in 2013 can be attributed to the focused and consistent delivery of the Group’s strategy across all parts of the business. Goodman’s extensive human and capital resources have enabled it to build a leading market position in the industrial property sector and pursue a range of sustainable growth opportunities across its platform globally. This in turn will ensure it continues to grow profitably and generate long-term value for all of its stakeholders.
Financial highlights for the year include:
- operating profit of $544 million, equating to operating earnings per security of 32.4 cents;
- statutory profit of $161 million (including $293 million of unrealised derivative and foreign exchange mark to market adjustments which is due to our currency hedging policy and is offset by a favourable $269 million of foreign currency translation recognised in reserves and not through the income statement);
- total distribution and dividend of 19.4 cents per security, up 8% compared with the same period last year;
- a strong financial position, with balance sheet gearing reduced to 18.5%, interest coverage ratio of 5.0x and weighted average debt maturity of 5.4 years; and
- Group liquidity at $1.8 billion.