IRONGATE GROUP - Interim results 30 September 2021

Interim results – 30 September 2021

Irongate Group (JSE: IAP)
Comprising Irongate Property Fund I (IPF I, ARSN 162 067 736) and Irongate Property Fund II (IPF II, ARSN 644 081 309), established in Australia
and registered with ASIC as managed investment schemes
Operated by Irongate Funds Management Limited (ACN 071 514 246; AFSL 290 909) (Responsible Entity)
IPF I is registered as a foreign collective investment scheme in terms of the Collective Investment Schemes Control Act No.45 of 2002
ISIN: AU0000046005
(IAP or the Fund)


SENS ANNOUNCEMENT
27 October 2021


Interim results – 30 September 2021

The board of the Responsible Entity is pleased to announce the results for the six months
ended 30 September 2021.

The current reporting period for IAP is 1 April 2021 to 30 September 2021. There is no previous
corresponding reporting period. The current reporting period for IAP is driven by the parent, IPF
II. IPF II was established on 3 September 2020 and has been identified as the parent of the
consolidated group. IPF I was consolidated with IPF II as of 30 November 2020.

IAP                                                                                                              30 September
                                                                                                                       2021
Revenue (AUD’000)                                                                                                    54,040

Operating profit (AUD’000)                                                                                             37,703

Headline earnings (AUD’000)                                                                                            35,035

Earnings per security (cents)                                                                                          17.24

Net tangible assets per security (AUD)                                                                                  1.55

Distribution per security (pre WHT) (AUD cents)                                                                         4.53

Distribution per security (post WHT) (AUD cents)                                                                        4.10


The directors of the Responsible Entity are responsible for the preparation and fair presentation
of this short form announcement and its contents.

The financial results for the Irongate Group for the period ended 30 September 2021 have been
reviewed by KPMG inc, who expressed an unmodified review conclusion. A copy of the
auditor’s review report is available for inspection at the Sponsor’s office (100 Grayston Drive,
Sandton) together with the financial statements identified in the auditor’s report and
www.irongategroup.com.au.

Prior to the internalisation of the management function, IPF I (then known as Investec Australia
Property Fund) was the reporting entity of IAP. IPF I is not the parent entity of IAP and was
consolidated in to IAP as of 30 November 2020. The current reporting period for IPF I is the six
months to 30 September 2021. The previous corresponding reporting period was for the six
months to 30 September 2020.

IPF I                                                   30                30           Increase/
                                                     September         September       (decrease)
                                                        2021              2020
Revenue (AUD’000)                                     52,779            45,185           7,594
Operating profit (AUD’000)                             37,093           31,676           5,417

Headline earnings (AUD’000)                            34,736           19,769          14,967
Earnings per security (cents)                          17.18              6.27           10.91

Net tangible assets per security (AUD)                  1.51              1.34            0.17

Distribution per security (pre WHT) (AUD                4.53              4.39            0.14
cents)
Distribution per security (post WHT) (AUD               4.10              3.97            0.13
cents)

This short form announcement is a summary of the information in the full announcement, and
any investment decision should be based on the full announcement. The full announcement is
published on SENS and available at www.irongategroup.com.au and
https://senspdf.jse.co.za/documents/2021/jse/isse/iap/Interim21.pdf. In addition, the full
announcement is available for inspection at the Sponsor’s office (100 Grayston Drive, Sandton),
at no charge, every Monday to Friday between 08:00 – 17:00. Copies of the full announcement
can also be requested via email on ir@irongategroup.com.au.


A copy of the investor presentation in relation to the year end results is available for inspection
at https://www.asx.com.au/asx/share-price-research/company/IAP.



Johannesburg

Sponsor
Investec Bank Limited




                                                                                                      

Date: 27-10-2021 08:27:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.