Centuria Metropolitan REIT released Half Yearly Results to Dec 2017

9 February 2018

Centuria Property Funds Limited as Responsible Entity of Centuria Metropolitan REIT announced results for the half financial year ending 31 December 2017. Financial highlights Statutory net profit of $39.2 million Distributable earnings of $19.9 million representing 9.4 cents per security (cps) Quarterly distributions paid during 1H18 to securityholders of 9.05 cps Increased net tangible assets (NTA) to $2.39 per security, up 7 cps or 3.0% from 1H17 Disciplined gearing of 29.6%, within target range Inclusion in the S&P/ASX 300 A-REIT index from September 2017 12 month total return of 20.9% outperforming S&P/ASX 300 A-REIT Index at 6.4% as at 31 December 2017 Operating highlights Strong leasing activity with 20 lease transactions across 9,234 sqm over 1H18 FY18 lease expiries of 1.2% provide solid earnings visibility for remainder of FY18 Increase in portfolio valuations to $899.7 million since the end of 1H17 with Like-for-like total portfolio increased by $41.6 million, or 7.0% Weighted average capitalisation rate (WACR) firmed to 6.87% (44bps) from 1H17 Strong weighted average lease expiry (WALE) of 4.3 years Acquisition of four high quality, fully occupied assets totaling $210.9 million Average NABERS energy rating of 3.8 stars Asset valuations Leasing success was a key contributor to strong growth in asset values, with the total portfolio valued at $899.7 million at 31 December 2017. Like-for-like, since 1H17, the portfolio value increased $41.6 million, or 7.0%. The portfolio’s total WACR firmed 44 basis points to 6.87% Earnings & distribution guidance FY18 distributable earnings guidance is reaffirmed at 18.6 cps. FY18 distribution guidance remains 18.1 cps, an increase of 3.4% on the previous financial year’s distribution and generating a strong FY18 distribution yield of 7.6%3 . Distributions will be paid in equal quarterly installments of 4.525 cps with two quarterly distributions remaining to be paid for FY18 Investor Presentation Document #Centuria