Five year
financial summary

2008
$M
2009
$M
2010
$M
2011
$M
2012
$M
Income statement
Gross property income 310.5 264.3 237.4 225.1 235.7
Fund management income 86.9 84.4 76.2 64.0 76.5
Property services income 75.1 65.5 55.8 56.9 62.7
Development management income 351.1 305.4 147.2 210.5 216.7
Income from sales of inventories - - 51.3 112.8 79.1
Distributions from investments 28.9 19.6 26.7 27.1 22.2
Net gain/(loss) on disposals of assets 399.6 54.3 (0.1) 85.3 78.5
Net gain/(loss) from fair value adjustments on investment properties (144.3) (527.0) (210.0) (26.4) 6.5
Share of net results of equity accounted investments (25.0) (508.7) (211.2) 174.5 166.6
Total income 1,082.8 (242.2) 173.3 929.8 944.5
Property expenses (64.4) (53.2) (59.8) (58.6) (61.7)
Development expenses (296.5) (243.4) (107.9) (159.3) (146.8)
Inventory cost of sales - - (39.8) (103.6) (69.2)
Employee expenses (144.7) (30.3) (84.0) (95.8) (87.3)
Administrative and other expenses (77.1) (81.2) (66.0) (53.9) (88.4)
Impairment losses (108.2) (229.7) (145.4) (47.2) (89.5)
Restructuring costs - (85.7) - - -
Net finance (costs)/income (110.5) (153.6) (154.1) 49.1 58.6
Total expenses (801.4) (877.1) (657.0) (469.3) (484.3)
Profit/(loss) before income tax 281.4 (1,119.3) (483.7) 460.5 460.2
Income tax (expense)/benefit (5.2) 23.3 (1.0) (7.5) (9.7)
Profit/(loss) for the year from continuing operations 276.2 (1,096.0) (484.7) 453.0 450.5
Profit/(loss) from discontinued operation (net of income tax) (7.8) - - - -
Profit/loss for the year 268.4 (1,096.0) (484.7) 453.0 450.5
Profit attributable to other non-controlling interests (17.7) (24.0) (52.3) (61.0) (42.2)
Profit/(loss) attributable to Security holders 250.7 (1,120.0) (537.0) 392.0 408.3
Operating profit summary
Operating profit available for distribution1 564.7 408.1 310.0 383.9 463.4
Operating profit per stapled security (cents per security)2,3 170.0 87.2 26.3 28.3 30.5
Distributions (cents per security)3 170.0 48.3 17.0 17.5 18.0
Balance sheet
Cash and receivables 1,300.4 830.8 1,008.6 548.5 470.2
Property assets 4,306.7 3,579.5 3,223.6 3,409.6 3,469.8
Equity accounted investments 2,399.5 2,662.3 2,304.1 2,597.4 2,893.4
Intangible assets 1,073.2 1,125.4 929.4 827.9 783.2
Other (including derivative financial instruments) 553.8 385.0 157.4 181.5 603.3
Total assets 9,633.6 8,583.0 7,623.1 7,564.9 8,219.9
Payables and provisions 630.8 299.7 387.1 467.0 434.1
Interest bearing liabilities 4,229.1 4,239.8 2,276.6 1,913.8 2,347.5
Other (including derivative financial instruments) 104.6 265.9 212.8 170.2 263.7
Total liabilities 4,964.5 4,805.4 2,876.5 2,551.0 3,045.3
INet assets 4,669.1 3,777.6 4,746.6 5,013.9 5,174.6
Non-controlling interests (320.6) (318.8) (798.1) (573.1) (318.8)
Net assets (after non-controlling interests) 4,348.5 3,458.8 3,948.5 4,440.8 4,855.8
NTA per security ($)3 9.78 4.26 2.38 2.45 2.54
Gearing ratio (%) 39.9 47.9 24.9 23.0 23.9
Statement of changes in equity
Total equity at the beginning of the year 4,578.2 4,669.1 3,776.9 4,746.6 5,013.9
Total comprehensive income for the year 190.4 (1,491.8) (593.4) 325.7 429.9
4,768.6 3,177.3 3,183.5 5,072.3 5,443.8
Contributions of equity, net of transaction costs 145.1 927.6 1,343.6 241.7 33.3
Distributions provided or paid (568.2) (264.1) (212.9) (250.0) (283.1)
Other transactions with equity holders 26.7 (38.1) 5.4 10.9 22.8
Movements in non-controlling interests during the year 296.9 (25.8) 427.0 (61.0) (42.2)
Total equity at the end of the year 4,669.1 3,776.9 4,746.6 5,013.9 5,174.6
Cash flow statement
Net cash provided by operating activities 345.2 320.8 195.2 294.4 266.8
Net cash (used in)/provided by investing activities (328.1) (1,049.6) 17.1 (355.5) (220.8)
Net cash provided by financing activities 540.3 332.1 60.3 (226.2) 37.0
Net increase/(decrease) in cash held 557.4 (396.7) 272.6 (287.3) 83.0
Cash at the beginning of the year 81.8 639.2 242.5 515.1 227.8
Cash at the end of the year 639.2 242.5 515.1 227.8 310.8
1. Excludes unrealised property valuation movements, derivative and foreign currency mark to market and certain other non-cash items
2. Fully diluted for CIC hybrid securities and options
3. Restated to adjust for the consolidation of every five stapled securities into one stapled security during the year ended 30 June 2012.