ASX Announcement FY19 Results

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Charter Hall Education Trust (“CQE” or the “Trust”) today announced its results for the year ended 30 June 2019.

Key Financial Highlights

Distribution of 16.0 cents per Unit (“cpu”), an increase of 6.0 per cent on the previous corresponding period (“pcp”);
Operating earnings of $44.2 million, an increase of 5.5 per cent on pcp;
NTA per Unit of $2.96, an increase of 6.5 per cent from $2.78 per Unit at 30 June 2018;
Statutory profit of $68.7 million, a decrease of 33.4 per cent from $103.1 million on pcp due to lower property revaluation increments in the year; and
Successful completion of $120 million institutional placement and $19.3 million unit purchase plan at an issue price of $3.35 per unit.

Operating Highlights

6 developments were completed, with a completion value of $30.7 million and a yield on cost of 7.1 per cent;
7 existing assets were sold for a total of $9.2 million;
Acquisition of 14 development sites and 5 existing childcare centres for a total completion value of $118.7 million;
Acquisition of 50% interest the Brisbane City Council Bus Network Terminal at Eagle Farm, Brisbane, a new social infrastructure asset for $51.25 million; and
CQE’s development pipeline is 31 sites, with an approximate completion value of $190.2 million.

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ASX Announcement FY19 Results

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ASX Announcement FY19 Results

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