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
Reflecting on its first four years, we are proud to say that our strategy is still going strong, and has driven some incredible changes across our business. Whether it’s by trialling new technologies or forging new partnerships, it’s safe to say that This Changes Everything has well and truly become part of the way we do business here at Mirvac: not just a box to tick, but an ethos to live by, sustainably.
It has been another year of notable sustainability achievements for Mirvac, from securing the first Australian Gold WELL certification for human health and wellbeing at 200 George Street in Sydney, to our One Planet Living endorsement at Marrick & Co in Sydney’s inner west. The cultural shift inspired by This Changes Everything has also grown stronger.
“In my eyes, our biggest achievement has been embedding This Changes Everything into the way we work and I think we really passed a threshold on that this year,” says Mirvac’s CEO & Managing Director, Susan Lloyd-Hurwitz.
“Sustainability has now become a natural part of who we are and how we work; it’s simply what we do. What we were aiming to change was to make our business more sustainable in the way we make choices and deliver lasting outcomes.”
With strong and visible support from Mirvac’s leaders and it being incorporated into performance measures and incentives, This Changes Everything is truly integrated into every aspect of our business.
FY17 at a glance
Mission: To create the first smart portfolio by 2020
Mission: To create a framework for the future of place
Mission: To be net positive by 2030
Mission: To demonstrate investment in communities within and beyond our boundaries by 2018
This Changes Everything is delivering what we intended – it is both bold and broad.
This report has been produced in accordance with the Global Reporting Initiative’s (“GRI”) G4 Sustainability Reporting Guidelines. The GRI index is available for download from the FY17 Annual Report website and provides a list of our GRI disclosures and their location in this report and associated documents. Limited assurance has been provided by Pricewaterhouse Coopers. Data sets that have been assured are marked with ✔. For further information visit mirvac.com/sustainability or contact firstname.lastname@example.org