Appendix D: Five year financial summary
This appendix provides a comprehensive overview of DHA's key financial performance results for the last five financial years.
Table 6.19: Financial performance, 2015–16 to 2019–20
2015–16 | 2016–17 | 2017–18 | 2018–19 | 2019–20 | |
|---|---|---|---|---|---|
Financial performance | |||||
Net profit after tax ($m) | $104.6 | $65.7 | $44.3 | $40.9 | $42.7 |
Annual dividend ($m) | $62.7 | $39.6 | $26.6 | $24.5 | $25.6 |
Return on equity | 7.0% | 4.3% | 2.9% | 2.4% | 2.7% |
Property investment revenue ($m)¹ | $428.8 | $363.9 | $278.5 | $156.6 | $167.2 |
Disposal program revenue ($m) | $59.0 | $64.2 | $32.2 | $35.4 | $10.8 |
Development land and property sales revenue ($m) | $238.5 | $116.4 | $104.9 | $140.1 | $204.5 |
Business efficiency | |||||
Return on capital employed (%) | 9.2% | 5.9% | 4.2% | 3.8% | 6.3% |
Leverage/solvency | |||||
Gearing ratio (%) | 25.8% | 24.9% | 24.7% | 24.5% | 25.7% |
Interest times cover | 7.0 | 5.2 | 4.7 | 4.7 | 8.5 |
Current ratio | 4.7 | 6.2 | 3.4 | 7.5 | 2.3 |
Liquidity ratio2 | 4.7 | 6.2 | 5.8 | 2.1 | 1.0 |
Portfolio management | |||||
Value of portfolio under management ($b) | $10.6 | $11.0 | $11.1 | $11.2 | $11.0 |
Total properties under management3 | 18,767 | 18,841 | 18,395 | 18,112 | 17,925 |
New constructions and acquisitions | 864 | 940 | 473 | 641 | 450 |
Notes
1. Property investment revenues reported are the gross sale proceeds, excluding GST. In 2019–20 the accounting treatment under AASB 16 Leases reports the net gain $15.2 million, with a portion of the gain deferred over the term of the lease.
2. Liquidity ratio excludes current borrowings as borrowed items are rolled on maturity and not considered to be a risk.
3. Figures include all properties managed by DHA (leased and owned).
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