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Centuria Industrial REIT Announces FY2018 Financial Results

Centuria Property Funds No. 2 Limited (CPF2L), as Responsible Entity of Centuria Industrial REIT (ASX:CIP) is pleased to announce CIP’s full year financial results for the period ended 30 June 2018.

Key Highlights

- Record leasing volumes drive 17.2% Return on Equity (ROE)
- Gross assets increased 19% to $1.1 billion, Net Tangible Assets (NTA) increased 8.9% to $2.56 per unit
- Reduced gearing by 470bps to 38.4%
- Agreed leases over 238,189sqm; representing 32.4% of portfolio gross lettable area (GLA)
- Distributable earnings (EPU) of 19.5 cents per unit (cpu) and distribution (DPU) of 19.4cpu, in line with guidance
- Total Return to Unitholders of 12.3%

Mr Ross Lees, CIP Fund Manager, commented, “We are pleased with CIP’s FY18 result, which has been delivered against a backdrop of significant transformation for the portfolio. EPU and DPU are in line with our guidance. Importantly we delivered on our primary objective of reducing CIP’s gearing almost 5% over FY18. As a result, gearing is now below 40% for the first time since the Trust’s initial public offering (IPO) in 2012.”

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