Mirvac Group

MGR: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$9.30	Hrmrp	Vzxlxzh

Mirvac Earnings: Rising Debt Costs and Margin Compression Hurt Near-Term Forecasts

Adrian Atkins

Aug 9, 2024

Mirvac delivered operating earnings per security of AUD 14 cents and a distribution of AUD 10.5 cps in fiscal 2024, broadly in line with management's guidance and our expectations. However, due to cost concerns and margin compression in residential development, management forecasts lower earnings in fiscal 2025, with operating earnings falling by some 13% to AUD 12.0 cps–AUD 12.3 cps and distributions of AUD 9.0 cps, down 14%.

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