Dexus (ASX: DXS)
ASX release
17 August 2021
2021 Financial Statements
In addition to Dexus's 2021 Annual Report, which includes the Financial Statements for Dexus Diversified Trust, Dexus provides the 2021 Financial Statements for Dexus Industrial Trust, Dexus Office Trust and Dexus Operations Trust.
Authorised by the Board of Dexus Funds Management Limited
For further information please contact: | |
Investors | Media |
Rowena Causley | Louise Murray |
Senior Manager, Investor Relations | Senior Manager, Corporate Communications |
+61 2 9017 1390 | +61 2 9017 1446 |
+61 416 122 383 | +61 403 260 754 |
rowena.causley@dexus.com | louise.murray@dexus.com |
About Dexus
Dexus (ASX: DXS) is one of Australia's leading fully integrated real estate groups, managing a high-quality Australian property portfolio valued at $42.5 billion. We believe that the strength and quality of our relationships will always be central to our success and are deeply committed to working with our customers to provide spaces that engage and inspire. We invest only in Australia, and directly own $17.5 billion of office, industrial and healthcare properties, and investments. We manage a further $25.0 billion of office, retail, industrial and healthcare properties for third party clients. The group's $14.6 billion development pipeline provides the opportunity to grow both portfolios and enhance future returns. Sustainability is integrated across our business, and our sustainability approach is the lens we use to manage emerging ESG risks and opportunities for all our stakeholders. Dexus is a Top 50 entity by market capitalisation listed on the Australian Securities Exchange and is supported by more than 30,000 investors from 23 countries. With over 35 years of expertise in property investment, funds management, asset management and development, we have a proven track record in capital and risk management and delivering superior risk-adjusted returns for investors. www.dexus.com
Dexus Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for Dexus (ASX: DXS) Level 25, 264 George Street, Sydney NSW 2000
Financial Statements 2021
Dexus Industrial Trust
Financial Report
30 June 2021
ARSN: 090 879 137
Contents | ||
Directors' Report ................................................................................................................................................................. | 2 | |
Auditor's Independence Declaration ................................................................................................................................... | 9 | |
Consolidated Statement of Comprehensive Income ......................................................................................................... | 10 | |
Consolidated Statement of Financial Position ................................................................................................................... | 11 | |
Consolidated Statement of Changes in Equity .................................................................................................................. | 12 | |
Consolidated Statement of Cash Flows ............................................................................................................................ | 13 | |
Notes to the Consolidated Financial Statements............................................................................................................... | 14 | |
Trust performance............................................................................................................................................................. | 17 | |
Note 1 | Operating segments .................................................................................................................................... | 17 |
Note 2 | Property revenue and expenses.................................................................................................................. | 17 |
Note 3 | Finance costs .............................................................................................................................................. | 18 |
Note 4 | Earnings per unit ......................................................................................................................................... | 19 |
Note 5 | Distributions paid and payable .................................................................................................................... | 19 |
Property portfolio assets.................................................................................................................................................... | 20 | |
Note 6 | Investment properties.................................................................................................................................. | 20 |
Capital and financial risk management and working capital .............................................................................................. | 24 | |
Note 7 | Capital and financial risk management........................................................................................................ | 24 |
Note 8 | Commitments and contingencies ................................................................................................................ | 29 |
Note 9 | Contributed equity ....................................................................................................................................... | 30 |
Note 10 | Working capital............................................................................................................................................ | 31 |
Other disclosures .............................................................................................................................................................. | 34 | |
Note 11 | Audit, taxation and transaction service fees ................................................................................................ | 34 |
Note 12 | Cash flow information.................................................................................................................................. | 34 |
Note 13 | Related parties ............................................................................................................................................ | 35 |
Note 14 | Parent entity disclosures ............................................................................................................................. | 36 |
Note 15 | Subsequent events...................................................................................................................................... | 37 |
Directors' Declaration........................................................................................................................................................ | 38 | |
Independent Auditor's Report............................................................................................................................................ | 39 |
At balance date, Dexus (DXS) (ASX Code: DXS) consists of Dexus Diversified Trust (DDF) (ARSN 089 324 541), Dexus Industrial Trust (DIT), Dexus Office Trust (DOT) and Dexus Operations Trust (DXO), collectively known as DXS or the Group.
The registered office of the Group is Level 25, Australia Square, 264-278 George Street, Sydney, NSW 2000.
Dexus Industrial Trust | Contents | |
For the year ended 30 June 2021 | |
dexus.com | 1 |
Directors' Report
The Directors of Dexus Funds Management Limited (DXFM) as Responsible Entity of Dexus Industrial Trust (DIT or the Trust) present their Directors' Report together with the Consolidated Financial Statements for the year ended 30 June 2021. The Consolidated Financial Statements represents DIT and its consolidated entities.
The Trust together with Dexus Diversified Trust (DDF), Dexus Operations Trust (DXO) and Dexus Office Trust (DOT) form the Dexus (DXS or the Group) stapled security.
Directors and Secretaries
Directors
The following persons were Directors of DXFM at all times during the year and to the date of this Directors' Report, unless otherwise stated:
Directors | Appointed |
W Richard Sheppard, BEc (Hons), FAICD | 1 January 2012 |
Patrick N J Allaway, BA/LLB | 1 February 2020 |
Penny Bingham-Hall, BA (Industrial Design), FAICD, SF Fin | 10 June 2014 |
John C Conde, AO, BSc, BE (Hons), MBA, FAICD1 | 29 April 2009 |
Tonianne Dwyer, BJuris (Hons), LLB (Hons) | 24 August 2011 |
Mark H Ford, Dip. Tech (Commerce), CA, FAICD | 1 November 2016 |
Warwick Negus, BBus (UTS), MCom (UNSW), SF Fin2 | 1 February 2021 |
The Hon. Nicola L Roxon, BA/LLB (Hons), GAICD | 1 September 2017 |
Darren J Steinberg, BEc, FRICS, FAPI, FAICD | 1 March 2012 |
Peter B St George, CA(SA), MBA3 | 29 April 2009 |
- John C Conde retired from the Board of DXFM, effective 2 September 2020.
- Warwick Negus was appointed to the Board of DXFM, effective 1 February 2021.
- Peter B St George retired from the Board of DXFM, effective 30 June 2021.
Company Secretaries
The names and details of the Company Secretaries of DXFM as at 30 June 2021 are as follows:
Brett D Cameron LLB/BA (Science and Technology), GAICD, FGIA
Appointed: 31 October 2014
Brett is the General Counsel and a Company Secretary of Dexus companies and is responsible for the legal function, company secretarial services and compliance, risk and governance systems and practices across the Group.
Prior to joining Dexus, Brett was Head of Legal for Macquarie Real Estate (Asia) and has held senior legal positions at Macquarie Capital Funds in Hong Kong and Minter Ellison in Sydney and Hong Kong. Brett has 24 years' experience as in-house counsel and in private practice in Australia and in Asia, where he worked on real estate structuring and operations, funds management, mergers and acquisitions, private equity and corporate finance across a number of industries.
Brett graduated from The University of New South Wales and holds a Bachelor of Laws and a Bachelor of Arts (Science and Technology) and is a member of the Law Societies of New South Wales and Hong Kong. Brett is also a graduate of the Australian Institute of Company Directors and a Fellow of the Governance Institute of Australia.
Scott Mahony BBus(Acc), Grad Dip (Business Administration), MBA (eCommerce), Grad Dip (Applied Corporate Governance) FGIA, FCIS
Appointed: 5 February 2019
Scott is the Head of Governance of Dexus and is responsible for the development, implementation and oversight of Dexus's governance policies and practices. Prior to being appointed the Head of Governance in 2018, Scott had oversight of Dexus's risk and compliance programs.
Scott joined Dexus in October 2005 after two years with Commonwealth Bank of Australia as a Senior Compliance Manager. Prior to this, Scott worked for over 11 years for Assure Services & Technology (part of AXA Asia Pacific) where he held various management roles.
Dexus Industrial Trust | Directors' Report | |
For the year ended 30 June 2021 | |
dexus.com | 2 |
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DEXUS Property Group published this content on 17 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2021 23:42:02 UTC.