Delivering on FY18 commitments

Dexus sets measurable performance targets across its key stakeholder groups in line with its strategy, and drives ethical and responsible performance in all areas of its operations.

Sustained Value

Delivered 5.1% growth in distribution per security, exceeding our revised guidance target of 4.5-5.0% (up from original guidance of 4-5%)

Office and Industrial

Reduced FY19 lease expiries from 12.0% at FY17 to 6.8% at FY18

FY18 capital expenditure of $167.8 million, within the target range of $165-170 million

Achieved 4.5% like-for-like income growth for the office portfolio in line with our target of 4-5%

Delivered 3.0% like-for-like income growth for the industrial portfolio in line with our target of 3-4%

Third Party Funds Management

In December 2017 the Healthcare Wholesale Property Fund completed its first round of equity raising, securing two new investors along with Commercial & General, the initial partner in the fund. Development of Calvary Hospital Adelaide has progressed and planning approval was received for the North Shore Health Hub in St Leonards

All funds delivered strong performance with Dexus Wholesale Property Fund delivering top quartile performance and a one-year total return of 13.8%, outperforming its benchmark over all time periods. The Dexus Office Partnership delivered a one-year unlevered total property return of 16.0%


Dexus delivered $36.6 million of trading profits net of tax, achieving our FY18 target of $35-40 million net of tax

Expanded our customer offering with the launch of SuiteX, a new type of flexible workspace, and five new products/services, enabling our customers to respond to an evolving workplace

Brought together customer communities within and around our buildings through the hosting of more than 700 wellness events with a focus on wellbeing

Defined a smart building blueprint for 100 Mount Street, North Sydney and, by establishing key partnerships, implemented technologies that support the new flexible and adaptable workspace product, SuiteX

Expanded our contribution to the community through the nationwide "Big Change for Small Change" charity event, raising substantial funds for children's health services

Completed a review of our supply chain practices by working with key procurement stakeholders to help further align CR&S requirements and ambitions into procurement activities

Completed the redevelopment of five city retail spaces, and progressed a further four, providing customers and the surrounding community greater engagement and vibrancy

Activated developments at four sites and identified two further opportunities to unlock potential value and enable sustainable urbanisation

On track to achieve the 2020 target, with 892,000sqm at a 5-star NABERS Energy rating and 615,000sqm at a 4 star NABERS Water rating across the group office portfolio

Progressing towards the 2020 target, achieving a 8.1% reduction in energy consumption and a 9.5% reduction in Scope 1 and Scope 2 greenhouse gas emissions against FY15 like-for-like baseline

Demonstrated a resource recovery rate of 80% from de-fitting vacated space across 11 of the 17 reported projects. Moved to single service provider sourcing arrangements across key markets to align objectives and enhance processes

Achieved average safety audit score of 97%, while demonstrating commitment to safety through introduction of employee safety awards. Recent employee engagement survey shows 94% of our employees agree that senior leadership is clearly committed to safety. We also executed a number of wellbeing initiatives including five during Wellbeing Month. In our most recent employee engagement survey, 85% of our people said they feel included at Dexus, while 91% agree they are provided with sufficient flexibility to meet their outside work needs

Leadership development diagnostics were completed for 34 leaders and managers across the business including the launch of a support program for managers in regional areas. Implemented culture building programs and launched a new internal communications channel to better engage and connect

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