Mirvac Group (FRA:MJB)

€ 1.3002 -0.022 (-1.66%) Market Cap: 5.25 Bil Enterprise Value: 7.81 Bil PE Ratio: 0 PB Ratio: 0.89 GF Score: 71/100

Half Year 2020 Mirvac Group Earnings Call Transcript

Feb 05, 2020 / 11:30PM GMT

Release Date Price: €1.92

Transcript

Susan Lloyd;Hurwitz

Mirvac Group - CEO, MD & Executive Director

Good morning and welcome to our 2020 Half Year Results Webcast and Teleconference. With me today are Shane Gannon, Brett Draffen, Campbell Hanan, Susan MacDonald and Stuart Penklis.

Today, we are pleased to reaffirm our guidance for this financial year. More importantly, I'd like to take the opportunity to talk about the significant investments we have made in future projects over the last 12 months that will shape Mirvac for a decade to come. We've done this while holding true to our values, building on our capabilities as an urban asset creator and making strong commitments to support our desire to be a force for good.

So firstly to the first half results. Our urban asset-creation strategy continues to deliver defensive cash flows and sustainable distribution growth, and the first half of FY '20 was another period during which we have delivered on our promises. Operating profit for the period of $352 million represents 21% growth on the prior corresponding period. First half distribution of $0.061

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