the repositioning of the retail and workplace portfolios and We are tackling the challenge of embodied carbon within the substantial growth of the logistics portfolio. [...] On behalf of the Board and the Leadership Team, we would like to extend our thanks to the Stockland team Investing in our people and for their contribution to this year’s results, and to our strengthening our culture securityholders for your continued support and investment in Stockland. [...] Our strategy is underpinned by the efforts of our people and the strength of our innovative and inclusive culture. Our ongoing dialogue with our people helps to shape the organisation and is at the heart of our culture. [...] As a purpose-led Environment, Social and Governance organisation, our core values of Community, Accountability, Respect and Excellence (CARE) drive our innovative and (ESG) approach customer-focused culture and set the foundations of how Our ESG strategy is supported by targets grounded in we execute our strategy and deliver on our vision to be the science and driven by possibilities1 leading crea. [...] Fundamental to our emissions reduction efforts is the use Core to our CTAP is a decarbonisation pathway which of systems and technology to accurately and efficientl y outlines how we will enable our business, our supply chain, monitor the performance of our portfolio.
Authors
- Pages
- 190
- Published in
- Australia
Table of Contents
- Acknowledgment of Traditional Custodians 2
- A better way to live. 3
- Contents 5
- FY24 highlights 6
- FY24 highlights 6
- A letter from the Chairman and CEO 8
- Letter from the Chairman and CEO 8
- How we create value 12
- Our strategy 12
- The value we create 14
- Financial 16
- Financial capital 16
- Assets and land 18
- Our portfolio as at 30 June 2024 19
- FY24 performance and outlook 20
- Group performance 20
- Sustainability 25
- ESG strategy – inspired by a better way to live 26
- Decarbonisation 28
- Scope 3 emissions – value chain 29
- Task Force on Climate Related Financial Disclosures References 31
- Circularity 32
- Social impact 33
- [Hidden] 33
- First Nations engagement 36
- Indigenous employment - creating social and economic inclusion across our workforce 36
- Resilience 38
- People and capability 39
- End-to-end multi-sector capability 40
- Investing in our people 40
- Employer of choice 41
- Our values and conduct 41
- Building a diverse, safe and inclusive environment 42
- Gender pay equity 42
- Ways of working 43
- Health, safety and wellbeing 44
- Driving a digital, innovative culture 45
- Cyber security 45
- Quality relationships 46
- Our commitment to customer excellence 47
- Measuring customer satisfaction and wellbeing 47
- Partner of choice 49
- Digital and data excellence 50
- Governance 51
- Board of Directors 52
- The Stockland Leadership Team 55
- Our approach to corporate governance 57
- Corporate Governance Framework 57
- The Board 58
- Board committees 59
- Board and Committees Meetings 60
- Board effectiveness 61
- Board composition 61
- Tenure 61
- Board skills matrix 62
- Board composition 63
- Independence criteria 63
- Our approach to tax 64
- General information 65
- Executive confirmations 66
- Our approach to risk management 67
- Our materiality assessment 68
- Risks and opportunities 69
- Lead auditor’s independence declaration 71
- Remuneration Report 73
- Message from the Chair of the People & Culture Committee 74
- Contents 76
- Remuneration Report 76
- 1. Remuneration framework at a glance 77
- 2. Performance and remuneration outcomes 78
- 2.1. STI Corporate Scorecard assessment 78
- 2.2. Executive KMP STI outcomes 81
- 2.3. Performance against LTI measures 81
- 2.4. Realised remuneration table (NON-IFRS DISCLOSURE) 82
- 2.5. Financial performance over the past five years 83
- 3. Remuneration governance 84
- 3.1. Governance framework 84
- 3.2. The role of the People & Culture Committee 84
- 3.3. The use of external advisors 85
- 3.4. Other governance practices 85
- 4. Executive remuneration in detail 86
- 4.1. Remuneration delivery 86
- 4.2. Remuneration mix 86
- 4.3. Fixed Pay 87
- 4.4. Short-Term Incentives 87
- 4.5. Long-Term incentives 88
- 4.6. Employment terms 89
- 5. Executive KMP remuneration tables 90
- 5.1. Executive remuneration (statutory presentation) 90
- 5.2. Performance rights movements 91
- 5.3. Executive securityholdings 91
- 5.4. Unvested equity holdings 92
- 6. Non-Executive Director remuneration 93
- 6.1. Policy and approach 93
- 6.2. Remuneration details for non-executive directors 94
- 6.3 Non-executive Director securityholdings 94
- Financial report for the year ended 30 June 2024 95
- Consolidated statement of comprehensive income 96
- Consolidated balance sheet 97
- Consolidated statement of changes in equity 98
- Consolidated statement of changes in equity 99
- Consolidated statement of cash flows 100
- Notes to the financial report 101
- Basis of preparation 102
- Results for the year 104
- 1. Revenue 104
- 2. Operating segments 106
- 2A. Reconciliation of FFO to profit after tax 107
- 2B. FFO and AFFO 108
- 2C. Balance sheet by operating segment 109
- 3. EPS 110
- 3A. Basic and diluted EPS 110
- 4. Dividends and distributions 110
- 5. Events subsequent to the end of the year 111
- Operating assets and liabilities 112
- 6. Inventories 112
- 7. Investment properties 116
- 7A. Investment properties - Investment Management 118
- 7B. Investment properties - Development 119
- 7C. Fair value measurement, valuation techniques and inputs 120
- 8. Receivables 124
- 9. Payables 125
- 10. Other liabilities 125
- 11. Leases 126
- 12. Cash and cash equivalents 128
- 13. Intangible assets 129
- 14. Non-current assets and discontinued operations held for sale 130
- 14A. Non-current assets held for sale 130
- 14B. Discontinued operations held for sale 130
- Capital structure and financial risk management 132
- 15. Borrowings 133
- 15A. Offshore medium term notes 133
- 15B. Domestic medium term notes and commercial paper 133
- 15C. Bank facilities 133
- 15D. Drawn debt 134
- Title 134
- Charts (hidden) 134
- 16. Net financing costs 135
- 17. Other financial assets and liabilities 136
- 18. Fair value measurement of financial instruments 139
- 19. Financial risk factors 141
- 19A. Market risk 141
- 19B. Credit risk 143
- 19C. Liquidity risk 143
- 20. Issued capital 146
- 20A. Movements in ordinary securities 146
- 20B. Other equity securities 147
- 20C. Security based payments 147
- Taxation 149
- 21. Income tax 149
- 21A. Income tax recognised in profit or loss 149
- 21B. Reconciliation of profit before tax to income tax recognised in profit or loss 149
- 22. Deferred tax 151
- Group structure 152
- 23. Equity-accounted investments 152
- 23A. Interest in joint ventures 153
- 23B. Summary of financial information for joint ventures and associates 154
- 24. Joint operations 157
- 25. Controlled entities 158
- 26. Deed of cross guarantee 162
- 27. Parent entity disclosures 164
- Other items 165
- 28. Notes to the consolidated statement of cash flows 165
- 28A. Reconciliation of profit after tax to net cash flows from operating activities 165
- 28B. Reconciliation of movement in financial liabilities arising from financing activities 166
- 29. Commitments 166
- 30. Contingent liabilities 166
- 31. Related party disclosures 167
- 32. Personnel expenses 168
- 33. Key management personnel disclosures 168
- 34. Auditor's remuneration 169
- 35. Accounting policies 169
- 35A. Principles of consolidation 169
- 35B. Reserves 170
- 36. Adoption of new and amended accounting standards 170
- Consolidated Entity Disclosure Statement of Stockland Corporation Limited 172
- Directors’ declaration 176
- Independent auditor’s report 177
- Securityholder information and key dates 183
- Securityholder information and key dates 184
- Securityholders 184
- General securityholder information 185
- Glossary 187
