Financial Metrics

For the  year ended 3 June 2018:

  • Statutory profit of $103.1 million, a decrease of 15.1 per cent from $121.4 million on the previous corresponding period (“pcp”):
    • distributable income of $41.9 million, an increase of 10.8 per cent on pcp
    • NTA per Unit of $2.78, an increase of 10.8 per cent on pcp;
    • Debt facility of $347.0 million refinanced in August 2018 resulting in weighted average debt maturity increasing from 2.4 years at 30 June 2018 to 5.0 years1;
    • Six developments were completed, returning a completion value of $43.1 million resulting in a final development margin of 28.3 per cent. CQE’s development pipeline remained constant with 29 sites2 with an approximate value of $170.3 million;
    • Acquisition of 9 quality Brisbane childcare centres for a total value of $63.2 million;
    • 26 of 28, five year options were exercised, with new leasing transactions, acquisitions and completed developments, resulting in an increase of the portfolio’s WALE from 9.1 years to 9.9 years; and
    • 19 existing assets were sold for a total of $45.6 million, an 8.9 per cent premium to carrying values3.
  • FY18 distribution of 15.1 cents per Unit (“cpu”), an increase of 6.3 per cent on pcp

1 As at 8 August 2018.
2 Including two sites with Heads of Agreements signed with an estimated value of $12.4 million.
3 Carrying value at contract date.

Key Financial Metrics

For the  Year Ended 30 June  2018 2017 % Change
Statutory Profit ($m) 103.1 121.4 (15.1)
Distributable Income ($m) 41.9 37.8 10.8
Earnings Per Unit – EPU (cpu)1 16.5 15.2 8.6
Distribution Per Unit – DPU (cpu) 15.1 14.2 6.3
1 Distributable income divided by weighted average number of units.
As at June 18 June 17 % Change
Total Assets ($m) 1,029.4 902.4 14.1
Investment Properties ($m) 985.5 861.2 14.4
Borrowings ($m) 300.0 249.9 20.0
NTA per Unit ($) 2.78 2.51 2.1
Gearing (%) 29.1 27.7 1.4
1 Distributable income divided by weighted average number of units.

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