Stockland Corp Ltd (FRA:LN1)
€ 3.117 -0.0245 (-0.78%) Market Cap: 7.68 Bil Enterprise Value: 10.15 Bil PE Ratio: 40.87 PB Ratio: 1.25 GF Score: 83/100
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Full Year 2020 Stockland Corporation Ltd Earnings Call Transcript

Aug 25, 2020 / 01:00AM GMT
Release Date Price: €2.25 (+3.48%)
Mark Andrew Steinert
Stockland - MD, CEO & Executive Director

Good morning, everyone. My name is Mark Steinert, CEO and Managing Director. And I welcome you all to our full year results update for FY '20. The format for today is Tiernan, Louise, Andrew and I will present the key elements of the results, and we'll then open it up for questions.

I'd like to begin by acknowledging the traditional custodians of the land on which we meet, the Gadigal people of the Eora Nation and pay our respects to their elders past, present and emerging.

I'm pleased to announce our full year result, which reflects the benefit of our diversified portfolio and the significant progress that we've made in executing our strategy. This is despite the very challenging macroeconomic environment due to the pandemic, and before that, the bushfires. Funds from operations were $825 million, down 8% on FY '19. And FFO per security was down 7.2%, with growth in communities, workplace and logistics FFO offset by the impact of the pandemic on our Retail Town Centers.

The group recorded a disappointing

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