Dexus Announces 2024 Annual Results Amid Challenging Conditions

Dexus Finance Pty Limited revealed its 2024 annual results, achieving a distribution of 48.0 cents per security. CEO Ross Du Vernet emphasized the company's resilience, highlighting high occupancy rates and strong cashflows with AFFO amounting to $516 million.

The financial year was marked by a statutory net loss after tax of $1,583.8 million, attributed to significant unrealised fair valuation losses on investment properties. Despite these losses, Dexus maintained a solid balance sheet with 92% of debt hedged, an average debt maturity of 4.8 years, and a 32.0% pro forma gearing.

Notable achievements include raising over $300 million in equity for Dexus Real Estate Partnership 2 and securing $4.9 billion in real asset transactions. The Dexus Wholesale Property Fund outperformed its benchmark across all time periods.

Looking ahead, Dexus forecasts AFFO of 44.5-45.5 cents per security and distributions of around 37.0 cents per security for FY25.