Half Year Review
2016

DELIVERING ACROSS
KEY EARNINGS DRIVERS

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Chief Executive Officer's Review

The Chairman

“Our results reflect the delivery of our strategy. Over the past six months our core property business has performed well, our funds management business has recorded good results, and we’ve achieved excellent outcomes in development and trading. We have delivered strong financial outcomes across our business in the six months to 31 December 2015 and are on track to achieve our targets for FY16.”

Darren Steinberg
Chief Executive Officer

Property Portfolio

“In our Office portfolio we achieved an increased number of leasing deals, undertaking 198 transactions across 97,935 square metres, and delivered a strong one-year total return of 14.8%. Revaluation gains across our property portfolio drove the majority of the increase in Statutory net profit and NTA per security, as recent comparable market transactions drove cap rate compression at properties with strong tenant covenants.”

Kevin George
Executive General Manager, Office and Industrial

“We achieved significant leasing volumes across our industrial portfolio, increasing portfolio occupancy over the period, and delivered a strong one-year total return of 16.7%.”

Kevin George
Executive General Manager, Office and Industrial

“We continued to enhance investor returns through the $3.2 billion development pipeline, of which $1.1 billion sits within the DEXUS portfolio and $2.1 billion within third party funds. We completed two key office projects in Sydney and Perth, and our project in Brisbane is nearing completion. Construction is underway on a number of industrial developments which are due for completion by 30 June 2016.”

Ross Du Vernet
Executive General Manager, Group Strategy, Transactions and Developments

Funds Management

“Our third party funds under management increased 11% to $10.6 billion through revaluations, developments and a number of transactions completed in the period. We also continued to drive performance for our clients, with DWPF and DEXUS Office Partnership delivering outperformance against their benchmarks.”

Craig Mitchell
COO and Executive Director

Trading

“In our trading business we delivered trading profits of $63.3 million, in line with FY16 guidance. With FY16 trading profits delivered, DEXUS is focused on securing FY17 trading profits and has progressed trading opportunities that will deliver trading profits in future years.”

Ross Du Vernet
Executive General Manager
Group Strategy, Transactions and Developments

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