Mail

SGP.AX - Stockland

ASX - ASX Delayed price. Currency in AUD

Stockland

133 Castlereagh Street
Level 25
Sydney, NSW 2000
Australia
61 2 9035 2000
https://www.stockland.com.au

Sector(s): Real Estate
Industry: REIT—Diversified
Full-time employees: 1,800

Key executives

Name	Title	Pay	Exercised	Year born
Mr. Tarun D. Gupta B.A., M.B.A.	MD, CEO & Director	4.23M	N/A	N/A
Ms. Alison C. Harrop B.Sc., F.C.A.	Chief Financial Officer	810.46k	N/A	N/A
Ms. Katherine Elizabeth Grace B.A., BA (Hons), L.L.B., LLB (Hons), MAICD, MPP	Chief Legal & Risk Officer, Gen. Counsel and Company Sec.	1.49M	N/A	1975
Mr. Andrew Whitson B.E.	CEO of Communities	2.15M	N/A	N/A
Ms. Louise Mason B.A., L.L.B.	CEO of Commercial Property	2.05M	N/A	N/A
Mr. Justin Louis	Chief Investment Officer	N/A	N/A	N/A
Ms. Sharmila Tsourdalakis B.Com., L.L.B.	Chief Innovation, Marketing and Technology Officer	N/A	N/A	N/A
Mr. Ian Randall	Gen. Mang. of Investor Relations	N/A	N/A	N/A
Ms. Karen Lonergan	Chief People & Stakeholder Engagement Officer	N/A	N/A	N/A
Ms. Michelle Abbey	Head of Retail	N/A	N/A	N/A

Amounts are as of 31 December 2022, and compensation values are for the last fiscal year ending on that date. Pay includes salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in AUD.

Description

Stockland (ASX: SGP) has today released its results for the half year to 31 December 2022. Stockland delivered Funds From Operations (FFO) of $353m and FFO per security of 14.8 cents in 1H23, both up by 0.7% relative to 1H22. Stockland expects FFO to be more heavily skewed to 2H in FY23 than in recent periods due to the timing of MPC settlements. Adjusted Funds From Operations (AFFO) was $310m and AFFO per security was 13.0 cents in 1H23, up by 5.7% compared with 1H22, primarily due to lower tenant incentives over the period. Statutory profit for 1H23 was $301m, down from $850m in 1H22. The statutory result for this period includes $30m of net commercial property revaluation gains, compared with a net uplift of $543m in the previous corresponding period, reflecting the high quality of Stockland's portfolio in an environment of softening capitalisation rates.

Corporate governance

Stockland’s ISS governance QualityScore as of 1 June 2023 is 1. The pillar scores are Audit: 1; Board: 2; Shareholder rights: 1; Compensation: 1.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while 10 indicates higher governance risk.