Home Consortium has released its maiden full-year FY20 results

Home Consortium has released its maiden full-year FY20 results announcing it has delivered on prospectus forecasts and confirms the next stage of its growth strategy

Key highlights:

▪ FY20 pro-forma Freehold FFO 13% ahead of prospectus forecast

▪ 99% of FY20 COVID-19 tenant relief agreed and documented

▪ 91% cash collection in Jul-20 and similar collections expected for August

▪ $1.2bn AUM across 36 assets reflecting 30% growth in AUM since IPO

▪ 47% exposure to defensive Daily Needs and Healthcare & Wellness service tenants

Executive Chairman and CEO, Mr David Di Pilla, said “It is pleasing for our maiden full-year reporting period to present such a strong set of results which deliver against our prospectus forecasts. The strength of our portfolio has been highlighted by our portfolio valuations increasing 5.2% since Dec-19. We have also demonstrated our ability to proactively and effectively manage the uncertainty caused by COVID-19 by documenting 99% of FY20 COVID-19 tenant relief. Importantly, through the recently announced acquisitions of three Woolworths anchored centres, Parafield and Aurrum Erina we have increased our exposure to Daily Needs and Healthcare & Wellness services tenants to 47%.”