APN Convenience Retail REIT is pleased to announce its results for the year ended 30 June 2020

Key highlights

• Funds From Operations (FFO) of $19.3 million or 21.6 cps, up 13.3% and 0.4% on FY2019 respectively¹
• Net Tangible Assets (NTA) per security up 31 cents to $3.27, a 10.5% increase on June 2019
• $90 million of acquisitions taking the total portfolio value to $448 million, increasing to $509 million after taking into account contracted acquisitions and remaining development projects
• $101.6 million of new equity raised, providing significant investment capacity
• Balance sheet gearing of 16.5%, and pro forma gearing adjusted for contracted acquisitions and fund-through developments of 24.8%, at the bottom of the 25% – 40% target range
• Debt facility increased by $40 million and refinanced a further $105 million, extending the weighted average debt maturity by 2.2 years
• Total FY2020 distributions of 21.8 cps (up 4.3%)
• FY2021 FFO and distribution guidance of 21.8 – 22.0 cps

For full details of the results, please click on the following:

FY2020 Results Announcement

FY2020 Results Presentation

FY2020 Annual Report

This article has been prepared for general information purposes only and without taking your objectives, financial situation or needs into account. You should consider these matters and read the product disclosure statement (PDS) for each of the funds described in this article in its entirety before you make an investment decision. The PDS contains important information about risks, costs and fees associated with an investment in the relevant fund. For a copy of the PDS and more details about a fund and its performance click here. To receive further updates and insights from the APN team, sign up for Review, our monthly email newsletter.

1. FFO per security reflects the issuance of new securities during the period.