Reported Earnings • 1h
Full year 2026 earnings released: EPS: AU$0.17 (vs AU$0.017 in FY 2025) Full year 2026 results: EPS: AU$0.17 (up from AU$0.017 in FY 2025). Revenue: AU$2.98b (up 12% from FY 2025). Net income: AU$677.0m (up AU$609.0m from FY 2025). Profit margin: 23% (up from 2.5% in FY 2025). The increase in margin was primarily driven by lower expenses. Revenue is expected to decline by 43% p.a. on average during the next 3 years, while revenues in the REITs industry in Europe are expected to grow by 2.3%. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Declared Dividend • Jun 25
First half dividend of AU$0.048 announced Shareholders will receive a dividend of AU$0.048. Ex-date: 29th June 2026 Payment date: 31st August 2026 Dividend yield will be 7.4%, which is higher than the industry average of 5.4%. Tillkännagivande • Jun 17
Mirvac Group Announces Unfranked Estimated Interim Dividend for the Six Months Ended June 30, 2026, Payable on August 31, 2026 Mirvac Group announced unfranked interim dividend of AUD 0.04800000 per share for the six months ended June 30, 2026, payable on August 31, 2026. Record date is June 30, 2026. Ex Date is June 29, 2026. Tillkännagivande • Mar 16
Mirvac Group to Report Q3, 2026 Results on Apr 23, 2026 Mirvac Group announced that they will report Q3, 2026 results on Apr 23, 2026 Tillkännagivande • Aug 27
Mirvac Group, Annual General Meeting, Nov 20, 2025 Mirvac Group, Annual General Meeting, Nov 20, 2025. Tillkännagivande • Jun 20
Mirvac Group Announces Distribution for the Six Months Ended June 30, 2025, Payable on August 28, 2025 Mirvac Group announced distribution of AUD 0.04500000 per Stapled Security for the six months ended June 30, 2025. Record Date is June 30, 2025. Ex Date is June 27, 2025. Payment Date is August 28, 2025. Tillkännagivande • Mar 01
Mirvac Group Appoints Rosemary Hartnett to Audit, Risk and Compliance Committee and the Human Resources Committee, Effective 1 March 2025 Mirvac Group announced that following the appointment of Rosemary Hartnett to the Mirvac Board on 2 December 2024, she will also join the Audit, Risk and Compliance Committee and the Human Resources Committee with effect from 1 March 2025. Tillkännagivande • Feb 14
Mirvac Group to Report First Half, 2025 Results on Feb 14, 2025 Mirvac Group announced that they will report first half, 2025 results on Feb 14, 2025 Tillkännagivande • Dec 18
Buyout or Equity Raising Reportedly Likely for Lifestyle Communities Lifestyle Communities Limited (ASX:LIC) remains on watch for a buyout or an emergency equity raising. Some observers have suggested that the group, with $320 million of net debt, may have to tap the market to boost its balance sheet. Yet Lifestyle Communities says it has no plans to raise equity, and there are analysts that agree. Others believe it's more likely that a rival capitalises on its weakness and launches a bid for the company. The deal that makes the most sense, observers say, is a purchase of Lifestyle Communities by the $1.9 billion listed rival Ingenia Communities Group (ASX:INA), which could use its own shares to pay for the business. David Di Pilla's HMC Capital owns major stakes in both stocks. Ingenia's $1 billion holiday parks business could be sold to fund a deal to buy its rival. Sources say it's equally possible that Mirvac Group (ASX:MGR) buys the business. There's also chatter that Macquarie Group Limited (ASX:MQG) is interested in the space, so it could also be a contender. Tillkännagivande • Oct 09
Mirvac Group Appoints Rosemary Hartnett as Non-Executive Director, Effective December 2, 2024 Mirvac Group announces the appointment of Rosemary Hartnett as a non-executive director to the Mirvac board, effective December 2,2024. Rosemary has over 30 years' experience in the Australian property sector and extensive senior management experience in property finance. Her former executive roles include senior property finance executive and fund manager roles for trading and investment banks, including Macquarie Bank, ANZ and NAB. Rosemary was also Chief Executive Officer of Housing Choices Australia, one of the country's leading registered housing associations. Rosemary is currently an independent director for ASX listed Arena REIT and was previously Chair and an independent director of ISPT Pty Ltd. and a director of an ISPT joint venture, International Property Funds Management Pty Ltd. Her former board roles include independent directorships of Fanplayr Inc., Aconex, and Wallara Australia. Rosemary holds a Bachelor of Business in Property (Valuations) and is a member of the Australian Institute of Company Directors. Tillkännagivande • Aug 30
Mirvac Group, Annual General Meeting, Nov 15, 2024 Mirvac Group, Annual General Meeting, Nov 15, 2024. Reported Earnings • Aug 08
Full year 2024 earnings released: AU$0.20 loss per share (vs AU$0.042 loss in FY 2023) Full year 2024 results: AU$0.20 loss per share (further deteriorated from AU$0.042 loss in FY 2023). Revenue: AU$3.04b (up 56% from FY 2023). Net loss: AU$805.0m (loss widened 388% from FY 2023). Revenue is expected to decline by 57% p.a. on average during the next 3 years, while revenues in the REITs industry in Europe are expected to grow by 3.3%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jun 28
Mirvac Group to Report Fiscal Year 2024 Results on Aug 08, 2024 Mirvac Group announced that they will report fiscal year 2024 results on Aug 08, 2024 Declared Dividend • Jun 20
First half dividend of AU$0.06 announced Shareholders will receive a dividend of AU$0.06. Ex-date: 27th June 2024 Payment date: 29th August 2024 Dividend yield will be 7.6%, which is higher than the industry average of 5.4%. Tillkännagivande • May 11
Keppel REIT (Australia) Sub-Trust 8 acquired 50% stake in 255 George Street, a freehold Grade A office building in Sydney, Australia from Mirvac Wholesale Office Fund I which is managed by Mirvac Group (ASX:MGR). Keppel REIT (Australia) Sub-Trust 8 agreed to acquire 50% stake in 255 George Street, a freehold Grade A office building in Sydney, Australia from Mirvac Wholesale Office Fund I which is managed by Mirvac Group (ASX:MGR) for approximately AUD360 million on March 28, 2024. The consideration consists of AUD 363.8 million in cash. As part of the consideration, AUD 363.8 million was paid towards assets. Purchase Consideration for Net Lettable Area 19,498.4sqm is AUD363.8 million. The deal will be funded through combination of SGD- and AUD-denominated bank loans and/or potential divestment proceeds that may be available for deployment as part of Keppel REIT’s ongoing portfolio optimisation strategy. Completion is expected to take place within the next two quarters of 2024. MinterEllison acted as legal advisor to Mirvac Wholesale Office Fund.
Keppel REIT (Australia) Sub-Trust 8 completed the acquisition of 50% stake in 255 George Street, a freehold Grade A office building in Sydney, Australia from Mirvac Wholesale Office Fund I which is managed by Mirvac Group (ASX:MGR) on May 9, 2024. As of May 9, 2024, The transaction received no objection notification from FIRB for the Acquisition. Buy Or Sell Opportunity • Mar 11
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at €1.26. The fair value is estimated to be €1.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Feb 08
First half 2024 earnings released: AU$0.051 loss per share (vs AU$0.055 profit in 1H 2023) First half 2024 results: AU$0.051 loss per share (down from AU$0.055 profit in 1H 2023). Revenue: AU$1.25b (up 51% from 1H 2023). Net loss: AU$201.0m (down 194% from profit in 1H 2023). Revenue is expected to fall by 31% p.a. on average during the next 3 years compared to a 2.3% decline forecast for the REITs industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Buying Opportunity • Jan 06
Now 21% undervalued Over the last 90 days, the stock is up 1.1%. The fair value is estimated to be €1.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Dec 21
Upcoming dividend of AU$0.045 per share at 5.0% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 29 February 2024. Trailing yield: 5.0%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (5.6%). Tillkännagivande • Dec 19
Mirvac Group to Report First Half, 2024 Results on Feb 08, 2024 Mirvac Group announced that they will report first half, 2024 results on Feb 08, 2024 Buying Opportunity • Dec 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.5%. The fair value is estimated to be €1.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Tillkännagivande • Nov 17
Mirvac Group Announces Management Changes Mirvac Group announced that as part of its Board succession program, James Cain will be appointed as a non-executive director, effective 1 December 2023. Mirvac also announced the retirement of James Millar AM from the Board, effective 31 December 2023. Following James Millar's retirement, Peter Nash, who has been on the Board since 2018, will be appointed as Chair of ARCC, effective 1 January 2024. Tillkännagivande • Oct 19
Mirvac Group (ASX:MGR) and Pacific Equity Partners Secure Assets Fund, L.P. managed by Pacific Equity Partners and Tasman Capital Partners entered into binding agreement to acquire Serenitas Management. Mirvac Group (ASX:MGR) and Pacific Equity Partners Secure Assets Fund, L.P. managed by Pacific Equity Partners and Tasman Capital Partners entered into binding agreement to acquire Serenitas Management on October 18, 2023. The acquisition is for an enterprise value of AUD 1 billion. The structure post acquisition will be a Joint Venture in which Mirvac and Pacific Equity Partners hold 47.5% ownership each, with the remaining minority interest of 5% to be held by Tasman, which is an existing co-owner in Serenitas. Mirvac will make a AUD 300 million initial investment with AUD 240 million funded on settlement and AUD 60 million deferred for 12 months. Final deferred consideration is subject to Tasman exercising its 12-month option to increase its combined investment in Serenitas to up to 19.99%. Mirvac will fund the transaction from existing liquidity sources, and recent asset disposals. As part of the transaction, the 100+ Serenitas team, led by Serenitas CEO, Rob Nichols, will continue to manage the 27 communities and provide sector leading expertise. Settlement is targeted for 3Q24. The transaction expected to be EPS accretive from FY25. New Risk • Aug 16
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Reported Earnings • Aug 16
Full year 2023 earnings released: AU$0.042 loss per share (vs AU$0.23 profit in FY 2022) Full year 2023 results: AU$0.042 loss per share (down from AU$0.23 profit in FY 2022). Revenue: AU$1.97b (down 18% from FY 2022). Net loss: AU$165.0m (down 118% from profit in FY 2022). Revenue is expected to decline by 40% p.a. on average during the next 2 years, while revenues in the REITs industry in Europe are expected to grow by 2.3%. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Tillkännagivande • Aug 16
Mirvac Group to Report Q1, 2024 Results on Oct 25, 2023 Mirvac Group announced that they will report Q1, 2024 results on Oct 25, 2023 Upcoming Dividend • Jun 22
Upcoming dividend of AU$0.053 per share at 4.5% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 31 August 2023. Trailing yield: 4.5%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.4%). Tillkännagivande • Jun 16
Mirvac Group Announces Fully Paid Distribution for the Six Months Ended June 30, 2023, Payable on August 31, 2023 Mirvac Group announced fully paid ordinary distribution for the six months ended June 30, 2023 of AUD 0.05300000. Record date is June 30, 2023. Ex-date is June 29, 2023. Payment date is August 31, 2023. The distribution per Stapled Security of 5.3 cents is a distribution from Mirvac Property Trust only. No dividend is being paid from Mirvac Limited. Tillkännagivande • May 29
Mirvac Group, Annual General Meeting, Nov 16, 2023 Mirvac Group, Annual General Meeting, Nov 16, 2023. Reported Earnings • Feb 12
First half 2023 earnings released: EPS: AU$0.055 (vs AU$0.14 in 1H 2022) First half 2023 results: EPS: AU$0.055 (down from AU$0.14 in 1H 2022). Revenue: AU$829.0m (down 37% from 1H 2022). Net income: AU$215.0m (down 62% from 1H 2022). Profit margin: 26% (down from 43% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 6.0% p.a. on average during the next 3 years, while revenues in the REITs industry in Europe are expected to grow by 3.9%. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Buying Opportunity • Jan 04
Now 20% undervalued Over the last 90 days, the stock is up 1.4%. The fair value is estimated to be €1.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to decline by 33% per annum. Earnings is forecast to grow by 13% per annum over the same time period. Upcoming Dividend • Dec 22
Upcoming dividend of AU$0.052 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 28 February 2023. Trailing yield: 4.7%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (5.7%). Recent Insider Transactions • Dec 11
Independent Non-Executive Director recently bought €58k worth of stock On the 6th of December, Jane Hewitt bought around 40k shares on-market at roughly €1.46 per share. This transaction amounted to 57% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €150k more in shares than they have sold in the last 12 months. Buying Opportunity • Dec 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.7%. The fair value is estimated to be €1.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to decline by 30% per annum. Earnings is forecast to grow by 13% per annum over the same time period. Reported Earnings • Aug 13
Full year 2022 earnings released: EPS: AU$0.23 (vs AU$0.23 in FY 2021) Full year 2022 results: EPS: AU$0.23 (up from AU$0.23 in FY 2021). Revenue: AU$2.42b (up 26% from FY 2021). Net income: AU$906.0m (flat on FY 2021). Profit margin: 38% (down from 47% in FY 2021). Over the next year, revenue is forecast to decline by 62% while the reits industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 22
Upcoming dividend of AU$0.051 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 31 August 2022. Trailing yield: 5.0%. Within top quartile of German dividend payers (4.4%). In line with average of industry peers (4.7%). Reported Earnings • Feb 11
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: EPS: AU$0.14 (up from AU$0.10 in 1H 2021). Revenue: AU$1.32b (up 29% from 1H 2021). Net income: AU$565.0m (up 44% from 1H 2021). Profit margin: 43% (up from 38% in 1H 2021). Revenue missed analyst estimates by 4.9%. Over the next year, revenue is expected to shrink by 58% compared to a 5.2% growth forecast for the industry in Germany. Reported Earnings • Feb 11
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: EPS: AU$0.14 (up from AU$0.10 in 1H 2021). Revenue: AU$1.32b (up 29% from 1H 2021). Net income: AU$565.0m (up 44% from 1H 2021). Profit margin: 43% (up from 38% in 1H 2021). Revenue missed analyst estimates by 4.9%. Over the next year, revenue is expected to shrink by 58% compared to a 5.2% growth forecast for the industry in Germany. Upcoming Dividend • Dec 23
Upcoming dividend of AU$0.051 per share Eligible shareholders must have bought the stock before 30 December 2021. Payment date: 28 February 2022. Trailing yield: 3.5%. Within top quartile of German dividend payers (3.3%). Higher than average of industry peers (2.8%). Recent Insider Transactions • Sep 09
CEO, MD & Executive Director recently bought €120k worth of stock On the 31st of August, Susan Lloyd-Hurwitz bought around 62k shares on-market at roughly €1.92 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Susan has been a net seller over the last 12 months, reducing personal holdings by €462k. Recent Insider Transactions • Aug 28
CEO, MD & Executive Director recently sold €582k worth of stock On the 24th of August, Susan Lloyd-Hurwitz sold around 304k shares on-market at roughly €1.91 per share. This was the largest sale by an insider in the last 3 months. This was Susan's only on-market trade for the last 12 months. Reported Earnings • Aug 12
Full year 2021 earnings released: EPS AU$0.23 (vs AU$0.14 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: AU$1.99b (down 12% from FY 2020). Net income: AU$901.0m (up 62% from FY 2020). Profit margin: 45% (up from 25% in FY 2020). Reported Earnings • Feb 13
First half 2021 earnings released: EPS AU$0.10 (vs AU$0.16 in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: AU$1.03b (down 23% from 1H 2020). Net income: AU$396.0m (down 35% from 1H 2020). Profit margin: 39% (down from 46% in 1H 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 13
New 90-day low: €1.45 The company is down 7.0% from its price of €1.57 on 13 November 2020. The German market is up 11% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the REITs industry, which is also down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.08 per share. Is New 90 Day High Low • Dec 15
New 90-day high: €1.66 The company is up 34% from its price of €1.25 on 16 September 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.85 per share. 
