Goodman Group Stakeholder Review 2021
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Since the beginning of the global pandemic, the digital economy has experienced rapid, unrelenting growth. Goodman’s long term strategy of owning, developing and managing high quality, sustainable properties that are close to consumers, has positioned our customers, and our own business, well to meet demand. E-commerce is a large part of our customers’ businesses and our early investment in infill locations has enabled them to have a greater speed to market, and an edge on their competitors.

Online shift

In FY21, Goodman has remained flexible and adapted to the changing conditions. Customer demand for space continued to increase across a range of industry segments and the prolonged impacts of the global pandemic accelerated our consumers’ propensity to shift to online shopping. Logistics and warehousing have provided critical infrastructure to enable distribution of essential goods to time-sensitive consumers through this period.

Top 20 global customers

We have a diverse range of 1,600 customers across e-commerce, logistics, retail, consumer goods, automotive, pharmaceutical and technology industries.

Our development workbook remains robust as we continue to focus on infill markets, resulting in high levels of pre-commitment. Our projects have been increasing in scale and value with the average development period for projects now 19 months. Repositioning and redevelopment of existing assets is increasingly contributing to the future activity, with 50% of our development sites now brownfields. We have progressed projects through planning and undertaken infrastructure work over a number of years to make sites available for expected customer demand.

Work in progress

Our assets under management grew solidly and our Partnerships delivered average returns of approximately 18% with strong income and capital growth. We’re also well capitalised with gearing low and liquidity high, including $18.1 billion available through our Partnerships.

Market conditions are strong in our sector. Continued growth in the digital economy is giving our customers confidence to grow too. Our global portfolio is well positioned to facilitate their needs.


Top 20 global customers
(by net income - look through basis)
Amazon
0%
Deustch Post (DHL)
0%
A.P Moller - Maersk
0%
Japan Post (Toll)
0%
BMW Group
0%
SF Express
0%
Iron Mountain
0%
Equinix
0%
DB Schenker
0%
Australia Post
0%
JD.com
0%
Kuehne + Nagel
0%
Mainfreight
0%
Noble House Home Furniture LLC
0%
Syncreon Technology
0%
Omlog
0%
Coca-Cola Amatil
0%
Linfox
0%
IVE Group
0%

Work in progress ($bn)


Assets under management ($bn)

Partnership AUMTotal AUM ($bn)

Operational highlights

OWN
Occupancy
0 %
High occupancy maintained at 98% and WALE of 4.5 years
NPI Growth
0 %
Like-for-like NPI growth at 3.2%
Square Meters Leased
0 M
Equating to $517.1 million of annual rental property income
Investments
Significant higher and better use opportunities exist across the portfolio including residential, data centre and multi-storey logistics. These are in various stages of planning with outcomes expected over the medium to long-term
DEVELOP
Work in Progress
$ 0 BN
12 countries, 73 projects, forecast yield on cost of 6.7%
In partnership
0 %
WIP undertaken within Partnerships or third parties
Average annual production rate
$ 0 BN
0 months
Average project development period of 19 months
Development commencement
$ 0 BN
With 57% committed
Committed
0 %
Development completions for the period were 96% committed
Manage
Valuation growth
$ 0 BN
0 %
WACR tightened 55bps to 4.3%
Total AUM
$ 0 BN
+ 0 %
External AUM increasing to $54.0 billion, up 12% on FY20
Average return
0 %
Average total return on net assets
Gearing
0 %
Average Partnership gearing
Available Liquidity
$ 0 BN
Comprising equity commitments, cash and undrawn debt
Environmental social governance
05
Environmental social governance