Mirvac’s urban strategy delivered excellent results in FY17, with operating earnings up 11 per cent and distributions up 5 per cent, at the top end of guidance provided.
The 2017 financial year was an outstanding year for Mirvac, and our ambition to reimagine urban life by creating, owning and managing high-quality assets in Australia’s largest cities has delivered strong results across the Group, positioning us well for the future.
Mirvac is an integrated, urban property group and a key contributor to Australia’s major cities.
Mirvac’s urban strategy and a strong focus on capital management delivered growth in FY17, and has ensured the Group is well placed for the year ahead.
In February this year, we launched Marrick & Co in Sydney’s inner west: a 220-apartment development on the old Marrickville Hospital site.
Mirvac has a priority focus on the health and safety of its employees, contractors and customers, and in FY17, we launched a refreshed policy and focus to strengthen our safety practices, behaviours and culture across our business, while supporting the wellbeing of our people, places and the communities in which we operate.
Developing a Reconciliation Action Plan (RAP) has been one of Mirvac’s key cultural goals over the past 12 months.
This Changes Everything is Mirvac’s sustainability strategy, comprised of four focus areas with long-term missions.
This Changes Everything FY17 at a glance
13% increase on prior corresponding period
The 2017 financial year was a fantastic year for Mirvac, and our ambition to reimagine urban life by creating, owning and managing high-quality assets in Australia’s largest cities has delivered strong results across the Group, positioning us well for the future.
The quality of our projects and their locations, our brand, our experience, our end-to-end service and the certainty you get with Mirvac is what sets us apart.
Deploying capital with discipline
and delivering on our promises,
with a strong focus on our customers.
Maintaining an appropriate balance of passive and active invested capital through cycles, and retaining capability across the office and industrial, retail and residential sectors.
Leveraging our integrated model
to create, own and manage
quality Australian assets.
Mirvac’s Office & Industrial portfolio continues to focus on key urban markets providing secure, recurring income to the Group.
OFFICE & INDUSTRIAL
EARNINGS BEFORE INTEREST AND TAX
PORTFOLIO IS PRIME
OR A-GRADE OFFICE ASSETS
The Group’s Retail division continues to focus on densley populated urban catchment areas, with an overweight to the strong performing Sydney market.
BEFORE INTEREST AND TAX
Mirvac’s Residential business is founded on a reputation for delivering superior product in Australia’s key cities of Sydney, Melbourne, Brisbane and Perth.
BEFORE INTEREST AND TAX
Our people are at the heart of what we do, and we recognise that our investment in them, along with fostering a positive culture, leads to better business outcomes. In FY17, we continued to implement a range of initiatives to support a culture that values performance, innovation, professional development, flexibility and wellbeing.
invested in our communities
gender pay gap on like-for-like roles