I risultati di Westfield Group , +18%

The Westfield Group  today announced its full year results to 31 December 2012 with AIFRS net profit of $1.72bn, up 18.3% on the prior year.
Funds from Operations (FFO) were $1.47bn representing 65.0 cents per security, up 0.3% on the prior year and in line with forecast.
Earnings before Interest and Tax was $2.12bn, up 3% on the prior year. Return on Contributed Equity was 11.4% for the year.
Net property income was $2.02bn, in line with the previous year and up 7% adjusted for divestments.
Management fee income was $128m, up 12% and project income was $194m, up 31%, with these two income streams now representing approximately 22% of FFO, up from 17.5% in the prior year.
Distribution for the 12 months was $1.11bn or 49.5 cents per security, an increase of 2.3%.
During the year, WDC completed a number of strategic transactions including $4.1bn of divestments, $300m of acquisitions and invested $800m in development activities. WDC has to date purchased 81m securities for $774m under its on-market buyback program.
WDC’s assets under management are $64.4bn, a $2.1bn increase on the prior year.
Over $1.4bn of new projects commenced in 2012, including Westfield World Trade Center retail development in New York. The identified pipeline of development work has increased by $1bn to approximately $12bn (WDC share $5bn). This pipeline includes landmark developments at Milan and at Croydon in south London together with the expansion of Westfield London, and the redevelopments of Century City and Valley Fair in California and Miranda in Sydney.
WDC’s global portfolio comprises 105 shopping centres in 5 countries with over 22,800 retail shops, 1.1bn annual customer visits and over $40bn in annual retail sales.
For the 12 months, comparable property net operating income for the Group was up 3.3% on the prior year with the United States up 4.2%, Australia / New Zealand up 2.9% and United Kingdom up 0.4%.
The global portfolio at 31 December 2012 was 97.8% leased, up 30 basis points on the prior year. In the United States the portfolio was 94.4% leased, up 130 basis points, the United Kingdom up 50 basis points to 99.5%, Brazil at 93.3% and the Australian / New Zealand portfolio remaining over 99.5% leased.
WDC’s global portfolio achieved specialty sales productivity of US$701 per square foot, for the 12 months to 31 December 2012, up 3.0% on the prior year. Comparable specialty retail sales were up 6.3% in the United States, up 0.5% in Australia, up 0.1% in New Zealand and up 12.8% in Brazil for the 12 month period.
Source : Company