Overview of Charter Hall Long WALE REIT's Financial Report

Charter Hall Long WALE REIT (ASX: $CLW) reported a statutory loss of $510.9 million for the year ended 30 June 2024. The operating earnings amounted to $188.0 million, with a distribution of $188.0 million declared for the same period. The financial report includes details of distributions, distribution reinvestment plan, net tangible assets, control gained or lost over entities, associates and joint venture entities, segment results, and audit information.

Executive Commentary on Financial Report

The report outlines the REIT's objective to provide stable and secure income and potential for income and capital growth through a diversified property portfolio with a long WALE (Weighted Average Lease Expiry). It also highlights the REIT's target balance sheet gearing range of 25-35% and the material business risks faced, with a dedicated risk and compliance team responsible for ongoing review and monitoring. Additionally, the report addresses the management of conflicts of interest, including protocols embedded in the business and the existence of a Compliance Plan/function.

Summary of Charter Hall Long WALE REIT's Financial Report

Charter Hall Long WALE REIT (ASX: $CLW) reported a statutory loss of $510.9 million for the year ended 30 June 2024, with operating earnings at $188.0 million and a distribution of the same amount declared. The report outlines the REIT's objective to provide stable and secure income and potential for income and capital growth through a diversified property portfolio with a long WALE. It also highlights the REIT's target balance sheet gearing range of 25-35% and the material business risks faced, with a dedicated risk and compliance team responsible for ongoing review and monitoring. The consolidated financial statements include critical accounting estimates and judgements, and details on REIT performance, property portfolio assets, capital structure, and financial risk management. The report acknowledges potential impacts of geopolitical events, consumer price inflation, and interest rates on the portfolio's future performance.