IRONGATE GROUP - Audited annual results 31 March 2021

Audited annual results – 31 March 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
5 May 2021



Audited annual results – 31 March 2021

The board of the Responsible Entity is pleased to announce the results for the period ended 31
March 2021.

The current reporting period for Irongate Group is 3 September 2020 to 31 March 2021. There
is no previous corresponding reporting period. The current reporting period for Irongate Group 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.

 Irongate Group                                                                                                      31 March
                                                                                                                       2021
 Revenue (AUD’000)                                                                                                    32,224

 Operating profit (AUD’000)                                                                                           110,739

 Headline earnings (AUD’000)                                                                                           12,658

 Earnings per security (cents)                                                                                          18.12

 Net tangible asset value per security (AUD)                                                                             1.43

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

 Distributions per security (post WHT) (AUD cents)                                                                       4.08



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 Irongate Group for the period ended 31 March 2021 have been audited
by KPMG Inc, who expressed an unmodified opinion. A copy of the auditor’s opinion is available
for inspection at the Responsible Entity’s registered office and the website at
www.irongategroup.com.au together with the financial statements and key audit matters
identified in the auditor’s report.

Prior to the internalisation of the management function, IPF I (then known as Investec Australia
Property Fund) was the reporting entity of IrongateGroup. IPF I is not the parent entity of
Irongate Group and was consolidated in to Irongate Group as of 30 November 2020. The
current reporting period for IPF I is the twelve months to 31 March 2021. The previous
corresponding reporting period was for the twelve months to 31 March 2020.

 IPF I                                                31 March          31 March        Increase/
                                                        2021              2020         (decrease)
 Revenue (AUD’000)                                     92,676           101,103          (8,427)
 Operating profit (AUD’000)                             64,433           66,109          (1,676)

 Headline earnings (AUD’000)                            51,546           38,762          12,784
 Earnings per security (cents)                          26.95             10.32           16.63

 Net tangible asset value per security (AUD)             1.43              1.32            0.11

 Distributions per security (pre WHT) (AUD               8.92              9.09           (0.17)
 cents)
 Distributions per security (post WHT) (AUD              8.05              8.57           (0.52)
 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/AR2021.pdf. In addition, the full
announcement is available for inspection at the Responsible Entity’s local representative office,
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

Investment Bank and Sponsor
Investec Bank Limited




                                                                                                      

Date: 05-05-2021 09:05:00
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