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asx release + Goodman Goodman Group upgrades operating profit for FY21 to $ 1.2 billion reflecting EPS growth of 12 % on FY20 Date 19 February 2021 I + Goodman Group ( Goodman or Group ) today announced its results for the half year ended 31 December 2020. The Group delivered an operating profit¹ of $ 614.9 million , up 16 % on the prior corresponding period and operating earnings per share ( EPS ) of 33.1 cents² , up 15 % on the same period last year . Statutory profit was $ 1,041.5 million . Key highlights for the year are : Financial + Operating profit¹ of $ 614.9 million , up 16 % on 1H20 + Operating earnings per share ( EPS ) 2 of 33.1 cents , up 15 % on 1H20 + Statutory profit of $ 1,041.5 million + Distribution for the half of 15.0 cents per stapled security ( DPS ) in line with the Group's capital management strategy + Gearing at 4.8 % ³ ( look through gearing at 16.6 % 4 ) + Available liquidity of $ 2.3 billion available in cash and undrawn debt + Net tangible assets ( NTA ) per security of $ 6.03 per security , up 3.3 % ( since June 2020 ) Operational + Total assets under management ( AUM ) of $ 51.8 billion - up 5 % and external AUM of $ 48.5 billion up 6 % on 1H20 + $ 1.5 billion of revaluation gains across the Group and Partnerships with a global weighted average cap rate ( WACR ) of 4.7 % + Quality portfolio maintains high occupancy of 97.9 % 5 and like - for - like net property income ( NPI ) growth of 3.0 % 5 + Development WIP of $ 8.4 billion across 56 projects in 12 countries , with a yield on cost of 6.6 % Group Chief Executive Officer , Greg Goodman said : “ The logistics and warehousing sector are playing a significant role globally in providing essential infrastructure to the digital economy . On average , global online sales increased by 30 % in 2020 and are expected to show strong growth over the next five years . We are experiencing strong demand from customers as they meet increasing consumer requirements and higher utilisation of properties . Our development activity is reflecting these trends and the flow - on effects in the digital space . As a result , we have again increased the levels of development work in progress to $ 8.4 billion . Maintaining a strong balance sheet and retaining income has provided us with significant liquidity , stability and financial resources for sustainable growth . " Property investment - underlying fundamentals and demand driving strength in asset pricing Strong customer demand driven by the digital economy continues to support the activity and property fundamentals for our business . There has been a continued shift towards higher penetration of retail sales online and growth in digital and technology - related demand which have increased requirements of supply chains . GRP01-7-2201 \ 0.51