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General Information

Goodman Group
GMG
http://www.goodman.com
Industrial Real Estate Investment Trusts
11,482
1,753

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$6.55 $6.44 $6.60 $6.43 $6.45 4445214 $0.10 ( 1.55% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Buy
26/05/2015
3

Company Overview

Business Description
Goodman Group (GMG) is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom, North America and Brazil. GMG comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited. GMG operates four divisions namely Property Investment, Fund Management, Property Services and Property Development.
Strategy Analysis
GMG seeks to build scale for its own, manage, develop capital recycling business model by leveraging its established platforms in Australia, Europe and Asia, focusing on investors in industrial property. Entry into new markets of US, Brazil and China offer high growth potential. Future growth will be driven by property development and management earnings from the launch of new funds, primarily for large institutional investors, supplemented by occasional corporate acquisitions to further bolster scale. Goodman Group reported NPAT down 22.7% to $154.6m for the half-year ended 31 December 2012. Revenues from ordinary activities were $507.9m, up 8.7% from the same period last year. Diluted EPS was 1.2 cents compared to (4.2) cents last year. Net operating cash flow was $226.3m compared to $140.0m last year. No dividend was declared.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 690.9 38.7 5.9% 16.9 23.5 3.6% 0.0%
2015 F 644.3 36.6 6.5% 17.9 22.0 3.4% 0.0%
2014 A 601.1 34.3 7.1% 14.1 20.7 4.3% 0.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Australian Industrial REIT (ANI) $223M 0.0000 0.0000 0.0000 19.8800 0.0000 0.0000 4.91% 0.00% 0.00%
BWP Trust (BWP) $2,075M -0.2727 0.0606 0.0232 21.5190 20.2889 19.8281 4.55% 4.92% 5.04%
Goodman Gp (GMG) $11,307M 0.0702 0.0752 0.0643 18.8101 17.4939 16.4373 3.21% 3.43% 3.71%
Industria REIT (IDR) $260M 0.0000 0.0000 0.0000 16.8694 0.0000 0.0000 4.59% 0.00% 0.00%
360 Captial (TIX) $374M -0.2222 0.0000 0.0000 12.0664 0.0000 0.0000 7.50% 0.00% 0.00%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 2.45 17.90 1.92 2.56
Market 1.02 17.20 1.32 1.56
Sector 1.60 15.50 1.20 2.34

Directors

Name Position Start Date
Mr Gregory (Greg) Goodman Chief Executive Officer, Executive Director 07/08/1998
Mr Anthony Rozic Deputy Chief Executive Officer, Executive Director 01/01/2013
Mr Philip Pearce Executive Director 01/01/2013
Mr Danny Peeters Executive Director 01/01/2013
Mr Ian Douglas Ferrier Non-Executive Chairman 01/09/2003
Mr Philip (Phil) Pryke Non-Executive Director 13/10/2010
Ms Anne Jillian Keating Non-Executive Director 23/02/2005
Mr John Beresford Harkness Non-Executive Director 23/02/2005
Mr James Christopher Sloman Non-Executive Director 01/02/2006
Ms Rebecca Joy McGrath Non-Executive Director 03/04/2012
Mr Philip Fan Non-Executive Director 01/12/2011

Management

Name Position
Paul McGarry Chief Executive Officer, Japan
John Dakin Chief Executive Officer, New Zealand
Brandon Birtcher Chief Executive Officer, North America
Carl Bicego Company Secretary
Danny Peeters Executive Director, Corporate
Jason Little General Manager, Australia
Nick Vrondas Group Chief Financial Officer
Luc LaFontan Group Chief Information Officer
Michael O'Sullivan Group Corporate Executive
Carolyn Scobie Group General Counsel
John Taylor Group General Manager, Human Resources
Alison Brink Group General Manager, Marketing
Nick Kurtis Group Head of Equities
James Inwood Group Head of Funds Management
Philippe Van der Beken Managing Director, Continental Europe
Jim Johnston Managing Director, UK Business Parks
Charles Crossland Managing Director, UK Logistics

Substantial Shareholders

Holding Name
168,462,083 (9.80%) Leader Investment Corporation and China Investment Corporation
103,955,559 (6.05%) BlackRock Investment Management (Australia) Limited (formerly Barclays Global Investors Australia)
102,759,342 (5.98%) Vanguard Investments Australia Ltd

Calendar of Events

Date Event
11 February 2016 Report (Interim)
28 September 2015 Report (Annual)
13 August 2015 Report (Prelim)
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