Carindale Property Trust : Appendix 4D and Half-Year Report

CARINDALE PROPERTY TRUST: Appendix 4D

(ASX Code: CDP) ARSN 093 261 744

Half Year Report under ASX listing rule 4.2A

For the half year ended 31 December 2021

(previous corresponding period being the half year ended 31 December 2020)

Results for announcement to the market

only				31-Dec-21	31-Dec-20
Revenue ($'000)	up	4.9%	26,261	25,042
Profit attributable to members of the Trust ($'000)	up	34.5%	14,058	10,454
Funds from operations (FFO) attributable to members of the
Trust ($'000)	up	16.6%	12,907	11,070
FFO per unit attributable to members of the Trust
use	(cents per unit) (i)	up	15.2%	18.22	15.81
(i) In calculating the FFO per unit, 70,857,533 (31 December 2020: 70,000,000) weighted average units was used.
Distributions for Carindale Property Trust
				Cents per unit
Interim distribution to be paid on 28 February 2022 (ii)				12.50
	Previous corresponding period				11.50
	(ii) The number of units entitled to distributions on the record date, 31 December 2021 was 71,282,814.
personalCommentary and analysis on the results for the half year end can be found in the announcement dated 15 February 2022

The distribution per unit has been determined by reference to the number of units on issue at the record date. The record date for determining entitlements to the distribution for the six-month period to 31 December 2021 was 31 December 2021. The distribution will be paid on 28 February 2022 (February 2022 Distribution).

The distribution reinvestment plan (DRP) will be in operation for the six-month distribution payable for the February

2022 Distribution. An election to participate in the DRP for the February 2022 Distribution must be received by 5.00pm (Sydney time) on 17 February 2022.

The price of units to be issued under the DRP is $4.566.

Units issued under the DRP for the February 2022 Distribution will rank equally with existing units on issue. The issue date will be 28 February 2022.

Details of the full year components of distributions will be provided in the Annual Tax Statements which will be sent to members in September 2022.

released to the ASX. The additional information required to comply with listing rule 4.2A.3 is contained in the attached half year

report. For

onlyuseCarindale Property Trust Half-Year Report

personalFor the half-year ended 31 December 2021

Statement of Comprehensive Income

Balance Sheet

Statement of Changes in Equity

Cash Flow Statement

Notes to the Financial Statements

Directors' Declaration

Independent Auditor's Report

ForDirectors' Report

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Scentre Management Limited ABN 41 001 670 579 AFS Licence 230329 as responsible entity of Carindale Property Trust ARSN 093 261 744

Carindale

CARINDALE PROPERTY TRUST

STATEMENT OF COMPREHENSIVE INCOME

FOR THE HALF YEAR ENDED 31 DECEMBER 2021

		31 Dec 21	31 Dec 20
		$'000	$'000
only
	Revenue
	Property revenue	26,261	25,042
	Expenses
	Property expenses and outgoings	(7,719)	(7,802)
	Expected credit charge relating to COVID-19	(50)	(412)
		(7,769)	(8,214)
	N t property income	18,492	16,828
use
	Other expenses
	Manager's service charge	(2,268)	(2,236)
	Other costs	(237)	(181)
		(2,505)	(2,417)
	Interest income	8	9
personalFor
	Financing costs	(3,548)	(3,838)
	Net fair value gain on interest rate derivatives	3,636	981
	Property revaluation	(2,025)	(1,109)
	Net profit attributable to members of the Trust	14,058	10,454
	Total comprehensive income attributable to members of the Trust	14,058	10,454
		cents	cents
	Basic earnings per unit	19.84	14.93
	Diluted earnings per unit	19.84	14.93

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CARINDALE PROPERTY TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2021

				31 Dec 21	30 Jun 21
			Note	$'000	$'000
only
	Current assets
	Cash and cash equivalents		5,151	2,408
	Trade and other receivables	3	2,936	2,928
	Prepayments and deferred costs		593	421
	Total current assets		8,680	5,757
	N	n current assets
	Trade and other receivables	3	11	13
	Investment properties	2	750,056	750,059
use
	Pr payments and deferred costs		65	277
	D	rivative assets		763	-
	Total non current assets		750,895	750,349
	Total assets		759,575	756,106
	C	rrent liabilities
	Trade and other payables		17,891	14,258
personalFor
	Derivative liabilities		282	210
	Total current liabilities		18,173	14,468
	Non current liabilities
	I	terest bearing liabilities	4	262,556	270,559
	Derivative liabilities		1,795	4,741
	T tal non current liabilities		264,351	275,300
	T	tal liabilities		282,524	289,768
	Net assets		477,051	466,338
	Equity attributable to members of the Trust
	Contributed equity		193,499	187,934
	R	serves		19,739	15,742
	R	tained profits		263,813	262,662
	Total equity attributable to members of the Trust		477,051	466,338

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CARINDALE PROPERTY TRUST

STATEMENT OF CHANGES IN EQUITY

FOR THE HALF YEAR ENDED 31 DECEMBER 2021

			Contributed		Retained	31 Dec 21	Contributed		Retained	31 Dec 20
			equity	Reserves	profits	Total	equity	Reserves	profits	Total
			$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000
	Changes in equity attributable to members
	of the Trust
	Ba ance at the beginning of the period, as
	reported		187,934	15,742	262,662	466,338	187,934	8,283	246,805	443,022
	- Profit after tax for the period		-	-	14,058	14,058	-	-	10,454	10,454
	- Amount transferred to other reserves	-	3,997	(3,997)	-	-	3,020	(3,020)	-
	Transactions with owners in their capacity as
	wners:
only-	(i)	5,565	-	-	5,565	-	-	-	-
	Movement in contributed equity
	- Distributions paid or provided for	-	-	(8,910)	(8,910)	-	-	(8,050)	(8,050)
	Closing balance of equity attributable to
	m mbers of the Trust		193,499	19,739	263,813	477,051	187,934	11,303	246,189	445,426

use(i) On 24 June 2021, the Trust announced that a DRP will be in operation for the six-month distribution payable for the period to 30 June 2021 and this was paid on 31 August 2021. The movement in contributed equity for the half-year ended 31 December 2021 comprised 1,282,814 units issued under the DRP at $4.338 cents per unit on 31 August 2021.

personalFor

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