Table of Contents 1 114

Growthpoint Interactive Annual Report 2018

Interactive contents 3
Directors' Report 4
Business Overview 4
FY18 Highlights 4
Chairman's Report 7
Managing Director's Report 9
FY18 Strategy and Outlook 10
FY18 Sustainability Highlights 12
Financial Management 15
Strategic Execution 15
Highlights for FY18 15
Financial Management 15
Funds From Operations 18
Five year performance summary 19
Portfolio review 20
Property Portfolio overview 20
Office Portfolio Review 24
Industrial Portfolio Review 28
Governance 32
Board of Directors 32
Executive Management 34
Remuneration Report 37
Additional information 53
Financial Report 55
Interactive contents 55
Financial Statements 56
Consolidated Statement of Profit or Loss and Other Comprehensive Income 56
Consolidated Statement of Financial Position 57
Consolidated Statement of Changes in Equity 58
Consolidated Cash Flow Statement 60
Notes to the Financial Statements 61
Section 1: Basis of preparation 61
Section 2: Operating results, assets and liabilities 63
2.1 Revenue and segment information 63
2.2 Investment properties 64
2.3 Investment in securities 71
2.4 Non-current assets held for sale 71
2.5 Trade and othe assets 72
2.6 Trade and other liabilities 73
2.7 Cash flow information 74
Section 3: Capital structure and financing costs 75
3.1 Interest bearing liabilities 75
3.2 Borrowing costs 76
3.3 Derivative financial instruments 77
3.4 Financial risk management 79
3.5 Contributed Equity and reserves 84
3.6 Distributions 85
3.7 Earnings per stapled security ("EPS") 86
3.8 Share-based payment arrangements 86
Section 4: Other notes 88
4.1 Key management personnel compensation 88
4.2 Related party transactions 90
4.3 Taxation 90
4.4 Contingent liabilities 92
4.5 Commitments 92
4.6 Controlled entities 93
4.7 Parenty entity disclosures 94
4.8 Remuneration of auditors 94
4.9 Subsequent events 95
Directors' declaration 96
Auditor's Independence declaration 97
Independent Auditor's report 98
Additional information 102
FY18 Portfolio information 102
About Growthpoint South Africa 105
Securityholder information 107
Frequently asked questions 109
2018 Securityholder Calendar 111
Glossary 112
Contact details 113
Corporate directory 113

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