ANNUAL REPORT 2019 CONTENTS
04 150 Financial Highlights Corporate Governance Statement 06 169 Chair’s Report Securityholder Information 10 CEO’s Report 18 Annual Financial Report
20 Directors’ Report 68 Auditor’s Independence Declaration 70 Consolidated Income Statements 71 Consolidated Statements of Comprehensive Income 72 Consolidated Statements of Financial Position 73 Consolidated Statements of Changes in Equity 75 Consolidated Statements of Cash Flows 76 Notes to the Financial Statements 145 Directors’ Declaration 146 Independent Auditor’s Report
400 George Street, Brisbane
2 CROMWELL PROPERTY GROUP I 2019 ANNUAL REPORT Cromwell Property Group
Cromwell Property Group (ASX:CMW) (Cromwell) is a Real Estate Investor and Manager with operations on three continents and a global investor base. As at 30 June 2019, Cromwell had a market capitalisation of A$3.0 billion, a direct property investment portfolio in Australia valued at A$2.5 billion and total assets under management of A$11.9 billion across Australia, New Zealand and Europe.
Cromwell is included in the S&P/ASX200 and the FTSE EPRA/NAREIT Global Real Estate Index.
Cromwell offers securityholders an attractive combination of stable long-term cash flows, demonstrated asset enhancement capabilities and transactional profits, and low risk exposure to International capital flows and European economic growth.
Cromwell maintains a strong and secure balance sheet and long-dated Australian property portfolio which enable it to recycle assets and reinvest into its property investment and funds and asset management businesses.
THIS DOCUMENT IS ISSUED BY Cromwell Property Group consisting of Cromwell Corporation Limited ABN 44 001 056 980 and Cromwell Diversified Property Trust ARSN 102 982 598 ABN 30 074 537 051 (the responsible entity of which is Cromwell Property Securities Limited AFSL 238052 ABN 11 079 147 809) Level 19, 200 Mary Street, Brisbane QLD 4000 Phone: +61 7 3225 7777 Fax: +61 7 3225 7788 Web: www.cromwellpropertygroup.com Email: [email protected]
SECURITYHOLDER ENQUIRIES All enquiries and correspondence regarding your securityholding should be directed to Cromwell’s Investor Services Team on 1300 268 078.
CROMWELL PROPERTY GROUP I 2019 ANNUAL REPORT 3 FINANCIAL HIGHLIGHTS
Statutory profit of Operating profit up
$159.9 Million 11.1% to $174.2 Million
NTA of Number of securities on issue
$0.97 2,236.6 Million
Total Securityholder Return (TSR)1