Goodman Group’s strong result in FY20 came in a year of unprecedented challenges globally that tested the resilience of the business and of our people.

Our financial highlights include:

• Operating profit of $1,060.2 million, up 12.5% on FY19
• Statutory profit of $1,504.1 million (includes the Group’s share of valuation gains, non-cash items and derivative mark-to-market movements)
• Operating earnings per security of 57.5 cents, up 11.4% on FY19
• Distribution per stapled security of 30.0 cents, in line with the Group’s capital management strategy

• Gearing at 7.5%, down from 9.7% in FY19
• Group liquidity of $2.8 billion available, including $1.8 billion in cash (excludes $16.3 billion of equity commitments, cash and undrawn debt in Partnerships)
• Net tangible assets increased 9.4% to $5.84 per security.

A shared culture
and ambition

From the properties we invest in, to the relationships we build with our customers and Investment Partners, to the commitment we have for our people – we are focused on fostering long-term relationships with like-minded stakeholders.

Our people are our greatest asset. Developing and maintaining a strong, consistent culture is critical to the Group’s success. I believe Goodman’s heritage has been one of its key strengths. Over 25 years, the Group has grown from its Australian foundations into a truly global company with approximately 70% of earnings from international markets and a consistent company culture that is also adapted to each local market.

Sustainable and successful global expansion and growth over this time can be largely attributable to the Group’s ability, as an Australian company, to assimilate respectfully into local markets, complementing them and integrating the cultures near seamlessly. Goodman’s focus on building strong teams, not only with deep local expertise, but also aligned to the Group’s values, as well as to those of our stakeholders, has paid off over the long term.

Over time, relationships with many of our customers and capital Partners have extended from one market into multiple regions, allowing our shared intellectual property to be leveraged at scale, creating a unique and valuable opportunity for Goodman globally.

Critical to our future success, therefore, is retention of our people. To do this, we foster the right culture and present our teams with ambitious challenges and appropriate rewards. To protect our shared perspective of long-term decision-making, Goodman will remain competitive in remunerating its people and in aligning the interests of our people with our Securityholders.