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ASX Release 12 February 2021 mirvac MIRVAC GROUP HALF YEAR RESULTS - 31 DECEMBER 2020 Mirvac Group ( Mirvac ) [ ASX : MGR ] today released its interim results for the half year ended 31 December 2020. Despite the pandemic , the Group delivered solid results for the half year including an operating profit of $ 276m , an increase of 10 per cent from 2H20 . The Group is pleased to initiate guidance for the full year , providing operating EPS guidance of between 13.1 to 13.5 cents per stapled security ( cpss ) and distribution guidance of 9.6 to 9.8 cpss for the year ending 30 June 2021 . Mirvac's CEO & Managing Director , Susan Lloyd - Hurwitz , said " The pandemic continued to disrupt our operating markets during 1H21 and the world remains in crisis . Mirvac's ability to maintain productivity and respond quickly to our customers ' changing needs has underpinned our recovery and safeguarded our business from the worst of the pandemic . " Mirvac has long believed in the power and importance of cities , and while cities will evolve as a result of the pandemic , they remain more important than ever . Our proven asset creation capability and our $ 28bn total development pipeline¹ will enable Mirvac to continue to deliver city shaping , mixed - use precincts that cater to our customers ' changing lifestyles . " Australia has managed the pandemic effectively to date and the vaccine roll - out is likely to boost confidence and the economy , so we expect the reactivation of cities and urban areas to strengthen even further over the coming months . Mirvac is well placed to support this progress , as it continues its best- practice management of COVID - Safe work and retail environments . " Mirvac's young , efficient Office portfolio benefits from a long WALE , low capex and minimal exposure to small tenants , providing strength and resilience throughout the COVID - 19 pandemic . And Mirvac's dynamic portfolio of urban shopping centres , while continuing to operate in a challenging environment , is well positioned for the future because of its focus on higher income , higher growth and densely populated catchment areas . " Industrial and build to rent are both important growth areas for our business . COVID - 19 has accelerated the growth in e - commerce which is in turn driving demand for high quality logistics facilities in Sydney . Our Industrial team remains focused on progressing our strategically located sites through the planning process . " The emergence of the build to rent sector is gathering pace in Australia . LIV Indigo , Mirvac's first build to rent property , is now 48 per cent leased² and we are gaining valuable insights that will inform the rollout of our growing pipeline . The team further extended the build to rent development portfolio during 1H21 with the addition of LIV Newstead in Brisbane , taking the future portfolio to approximately 2,200 units across five sites with an estimated total end value of $ 1.6bn¹ . 1 Represents 100 per cent estimated end value of committed and uncommitted future developments and is subject to planning approvals , market conditions and COVID - 19 impacts . 2 As at 9 February 2021 . Authorised for release by the Mirvac Group Board Level 28 , 200 George Street Sydney NSW 2000 Australia T +61 2 9080 8000 www.mirvac.com Mirvac's Privacy Policy is on our website or contact our Privacy Officer on T +61 2 9080 8000 Mirvac Limited ABN 92 003 280 699 Mirvac Funds Limited ASX : MGR ABN 70 002 561 640 AFSL 233 121 as reponsible entity of the Mirvac Property Trust ARSN 086 780 645