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Cromwell

  •   25 August 2022
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Cromwell continues pivot to capital light fund manager

25 August 2022 - FY22 Results Overview

  • Statutory profit of $263.2 million (FY21 $308.2 million) equivalent to 10.05 cents per security (FY21 11.78 cents per security);
  • Operating profit of $201 million (FY21 $192.2 million) equivalent to 7.68 cents per security (FY21 7.35 cents per security);
  • FY22 distributions per security of 6.5 cents, for a payout ratio on operating profit of 85% and 98% of Adjusted Funds From Operations (AFFO);
  • Net Tangible Assets of $1.04 (FY21 $1.02);
  • Gearing reduced to 39.6% (FY21 41.8%), within Cromwell’s target range of 30-40%;
  • Total assets under management stable at $12 billion (FY21 $12 billion);
  • Mr Jonathan Callaghan commenced as new Chief Executive Officer; and
  • Revised vision and strategy to support a more capital light funds management model.

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  •   25 August 2022
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