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BWP Trust (BWP)
is a publicly listed company on the Australian Securities Exchange (ASX).


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General Overview

About BWP Trust

BWPBWP Trust is a real estate investment trust listed on the Australian Securities Exchange ("ASX") investing in and managing commercial properties throughout Australia. The majority of the Trust's properties are warehouse retailing properties, in particular, Bunnings Warehouses leased to Bunnings Group Limited ("Bunnings").

The Trust owns 79 Bunnings Warehouses, eight of which have adjacent retail showrooms that the Trust owns and are leased to other retailers, one Bunnings Warehouse sub let to Super A-mart, two development sites on which Bunnings Warehouses are to be developed, a standalone showroom property and two industrial properties leased to tenants for manufacturing, storing and distributing goods and services.

The Trust's main source of income is the rent paid by Bunnings and other tenants for leasing their respective premises from the Trust. Rent is generally based on the area of the property leased by the tenant, and typically does not have reference to the tenant's turnover at the premises. Growth in rental income typically comes from acquiring additional leased properties and from increases in rent from existing properties. Rents from existing properties grow as a result of annual incremental rent increases and periodic market reviews in accordance with the lease. Rental growth may also occur when there are upgrades to existing properties, which increase the lettable area.

The main items of expense for the Trust are borrowing costs and the fee paid to the responsible entity for managing the Trust. The amount of borrowing costs will be determined by the level of borrowings the Trust has from time to time, and the interest rates and bank costs associated with those borrowings. The level of management fee paid by the Trust depends on the value of the gross assets of the Trust over the period.

The Trust's assets are predominantly comprised of its investment properties. Investment properties are revalued each six months to assess their fair value based on market conditions and the circumstances of each particular property. Changes in the fair value of properties as a result of revaluations are recorded as an unrealised revaluation gain or loss for the period and do not affect distributable profit. Borrowings to fund investment in properties are the Trust's largest liability and typically represent 20 to 30 per cent of the value of the Trust's total assets.

As required by the Trust's constitution, the Trust distributes all its net profit each six months, excluding unrealised movements in the fair value of investment properties.

The Trust is managed by an external responsible entity, BWP Management Limited ("the responsible entity") which is appointed under the Trust's constitution and operates under an Australian Financial Services Licence. The responsible entity is committed to managing the Trust solely and is paid an annual fee based on the gross assets of the Trust. Both Bunnings and the responsible entity are wholly-owned subsidiaries of Wesfarmers Limited, one of Australia's largest listed companies. Wesfarmers Limited also owns approximately 24.7 per cent of the issued units in the Trust.

History

1998

Established as the Bunnings Warehouse Property Trust with a focus on warehouse retailing properties and, in particular, Bunnings Warehouses leased to Bunnings Pty Ltd (now Bunnings Group Limited), a wholly-owned subsidiary of Wesfarmers Limited.

The Trust Deed establishing the Trust is dated 18 June 1998. The Trust Deed is an approved deed for the purposes of the Corporations Act and is governed by the laws of the Australian Capital Territory.

Listed in September 1998 on the Australian Stock Exchange (now Australian Securities Exchange "ASX") following the issue of 132 million ordinary fully paid $1.00 units. Following listing, a wholly owned subsidiary of Wesfarmers Limited held a 25% interest in the Trust. See prospectus.

At listing, the Bunnings Property Management Limited, as responsible entity for the Trust, was granted a six year ASX waiver which allows the responsible entity to enter into certain leasing transactions on behalf of the Trust with Bunnings Pty Ltd (now Bunnings Group Limited), a related party without the need to obtain unitholder approval under Listing Rules 10.1.

At listing, the Trust had $170 million of properties located in Western Australia, Victoria, Queensland, South Australia and the ACT. See Portfolio Overview in the Trust's most recent Annual Report for current portfolio size.

1999

On 5 August 1999, Bunnings Warehouse Property Trust was registered as a Managed Investment Scheme by the Australian Securities and Investments Commission.

At the same time, Bunnings Property Management Limited assumed the role of responsible entity for the Trust from Perpetual Trustees Company Limited.

2000

On 14 January 2000, a unitholder meeting was held to approve the acquisition of new warehouses from Bunnings Group Limited and the Distribution Reinvestment Plan.

In February 2000, the Trust held a one for three renounceable rights issue at $1.00 per unit to raise $44 million.

In February 2000, the Trust implemented a Distribution Reinvestment Plan (DRP).

2001

On 22 June 2001, a unitholder meeting was held to approve the purchase and development of Frankston warehouse and changes to the Trust's Constitution.

In September 2001, the Trust made a placement of 20.1 million units at an issue price of $1.19 to raise $23.9 million in September 2001.

In October 2001, the Trust was admitted for the first time to the S&P/ASX 200 and S&P/ASX200 Property Indices. At that time, the market capitalisation of the Trust was approximately $233 million.

In November 2001, the Trust held a one for eight renounceable rights issue at $1.16 per unit to raise approximately $29.5 million.

2002

In November 2002, the Trust made a placement of 26.1 million units at an issue price of $1.29 to raise $33 million.

On 16 December 2002, a unitholders meeting was held to approve the acquisition of four warehouses from Bunnings Group Limited, to ratify the placement and approve an amendment to the Trust's Constitution.

2003

In November 2003, the Trust announced a $25 million underwritten unit purchase plan at $1.37 per unit.

2004

In September 2004, the ASX waiver, originally granted at listing, was renewed for further six years.

2005

In February 2005, the Distribution Reinvestment Plan was suspended.

On 14 December 2005, a unitholders meeting was held to approve amendments to the Trust's Constitution.

2008

In May 2008, the Distribution Reinvestment Plan was re-instated.

2009

In May 2009, the Trust made a one for 3.09 non-renounceable entitlement offer at an issue price of $1.50 to raise $150 million.

On 11 November 2009, the Trust held a Unitholders' briefing to provide a performance overview.

2010

On 13 May 2010, the Trust held a unitholders meeting to approve the Extended Lease Tenure transaction with Bunnings Group Limited.

In September 2010, the ASX waiver, originally granted at listing and extended in 2004, was extended for a further six years.

2011

On 17 February 2011, the Trust made a one for 4.84 fully underwritten non-renounceable entitlement offer at an issue price of $1.70 per unit to raise $150 million.

On 30 March 2011, the Trust held a unitholders meeting to approve the acquisition of thirteen Bunnings Warehouse properties from Bunnings Group Limited.

On 7 April 2011, the Trust changed its name from Bunnings Warehouse Property Trust to BWP Trust and the management company changed its name from Bunnings Property Management Limited to BWP Management Limited.

In August 2011, the Distribution Reinvestment Plan was suspended for the final distribution for the year ended 30 June 2011. The Distribution Reinvestment Plan was re-instated for the interim distribution for the six months ended 31 December 2011.

2013

On 24 July 2013, the Trust announced that it had been assigned an A- (stable outlook) issuer credit rating by Standard & Poors.

On 8 August 2013, the Trust made a one for 6.18 fully underwritten non-renounceable entitlement offer at an issue price of $2.30 per unit to raise $200 million.

On 16 September 2013, the Trust held a unitholders meeting to approve the acquisition of ten Bunnings Warehouse development properties from Bunnings Group Limited and the upgrades of 3 of the Trust's existing Bunnings Warehouse properties.

Investment Strategy

Core Purpose

BWP Trust aims to provide a premium commercial real estate investment product, delivering unitholders a secure and growing income stream and long-term capital growth.

Investment Approach

To achieve this core purpose the responsible entity invests on behalf of the Trust according to the following strategies, objectives and investment criteria:

Pro-Active Management of Existing Assets
  • Full occupancy and strong customer covenants
  • Value enhancing capital improvements
  • Disciplined and timely approach to rent reviews
  • Efficiencies in outgoings and stay-in-business capital expenditure
  • Longer term property enhancement (rezoning, lease improvements, property accessibility and format)
  • Divestment of non-core assets, where value has been optimised
Portfolio Growth
  • Source quality Bunnings Warehouses from Bunnings or third parties
  • Pursue other prime large format retailing properties anchored with a Bunnings Warehouse
Effective Management of the Trust and its Capital
  • Reliable cash flow and low cost funding
  • Disciplined, but commercial investment approach
  • Competitive advantage from strong customer alignment, capital management and low cost of doing business
  • Undertake sustainability endeavors that have impact
  • Actively manage the Trust's reputation and profile with all stakeholders
  • Board and management capabilities and experience
Investment Criteria
  • Ample land area (average 3 hectares)
  • Visible and accessible from a major road, highway or freeway
  • Ready vehicle access and ample on-site parking
  • Significant catchment area
  • Offers geographic diversity
  • Long-term lease (or re-leasing potential)
  • Financially substantial tenant in an economically, socially and environmentally sustainable business
  • Includes sustainability measures or prospects

Products

Portfolio Overview

Bunnings Warehouses

BWPBunnings Warehouse properties owned by the Trust are on long term leases to Bunnings Group Limited. Leases typically have an effective term of 10 to 15 years, followed by five year option periods exercisable by the tenant. Rent is programmed to escalate on an annual basis generally in line with CPI or fixed three per cent, and every five or six years the rents are to be reviewed to market.

Properties owned by the Trust and leased to Bunnings Group Limited typically have:

  • A site area of three hectares;
  • A Bunnings Warehouse of 7,500-12,000 square metres (indicative gross lettable area);
  • High visibility and easy access from major arterial roads;
  • Ample parking;
  • A surrounding population with suitable socio-economic characteristics; and
  • Other complementary outlets nearby.

The Trust owns development sites at:

  • Maribyrnong, Victoria;
  • Brendale, Queensland, on which a Bunnings Warehouse is currently under construction; and
  • Albany, Western Australia; Altona, Victoria and Minchinbury, New South Wales, to provide for the expansion of the adjoining Bunnings Warehouse owned by the Trust.
Bunnings Warehouse and Showrooms

The Trust owns multi-tenanted large format retail properties in Bayswater, Pakenham and Coburg, Victoria; Dubbo and Hoxton Park, New South Wales; Browns Plains and Gladstone, Queensland; and Geraldton, Western Australia.

The Trust has developed two showrooms on surplus land which is part of the Bunnings Warehouse property at Bayswater, Victoria. These showrooms are leased as retail outlets, Boating Camping Fishing (BCF), a subsidiary of the ASX listed Super Retail Group and Autobarn.

Two showrooms were developed on a property adjoining the Trust's Geraldton Bunnings Warehouse acquired in September 2007. One tenancy is leased to BCF and the other tenancy is leased to national auto repairer Ultratune.

In April 2011, the Trust acquired a multi-tenanted property in Pakenham, Victoria. The property comprises a Bunnings Warehouse and Officeworks, both subsidiaries of Wesfarmers Limited, and two showrooms occupied by Dollar Curtains and Blinds and Jetts Fitness.

The Trust acquired a multi-tenanted property in Dubbo, New South Wales in August 2011. The property comprises a Bunnings Warehouse, KFC fast food outlet and a showroom occupied by Petbarn.

In April 2012, the Trust acquired a multi-tenanted property in Browns Plains, Queensland. The property comprises a Bunnings Warehouse and showrooms leased as retail outlets to Spotlight, The Good Guys and Healthy Pharmacy.

In September 2012, the Trust acquired a multi-tenanted property in Gladstone, Queensland. The property comprises a Bunnings Warehouse, Harvey Norman, BCF and five other showroom tenancies.

In Novement 2013, the Trust acquired a multi-tenanted property in Hoxton Park, New South Wales. The property comprises a Bunnings Warehouse, Officeworks and Kennards Self Storage.

In January 2014, the Trust acquired a multi-tenanted property in Coburg, Victoria. The property comprises a Bunnings Warehouse, Officeworks, Harvey Norman, Amway Australia, BCF and four other tenancies.

Industrial Properties

Three office/warehouse properties were acquired from and leased back to Wesfarmers subsidiary J Blackwood and Son Limited in 2007. The Canning Vale property was sold in October 2010 after Blackwoods vacated the property. At the Blacktown property Blackwoods exercised a 5 year option in January 2014, however they have the right to terminate the lease and must provide 12 months notice. Blackwoods vacated the Regency Park Property in April 2014 and the property was sold in July 2014.

The Trust acquired a multi-tenanted industrial property in Blackburn, Victoria in January 2008. The major tenants, Sleepmaster Pty Ltd and Gainsborough Industries Limited occupy 95% of the property. The Gainsborough lease expires in March 2019 and the Sleepmaster lease expires in March 2017. In August 2013, Sleepmaster went into administration and we are currently seeking a replacement tenant for this tenancy.

Property Values

Investment properties are carried at fair value. Fair value for individual properties is determined by a full independent valuation completed at least every three years by an independent valuer who holds a relevant professional qualification and has recent experience in the location and category of the investment property.

Properties that have not been independently valued as at a balance date are carried at fair value by way of Directors' valuation. The methodology and assumptions of the Directors' valuations are subject to an independent verification process by an independent valuer.


Price History

52 Week High Change from 52 Week High % Change from 52 Week High 52 Week Low Change from 52 Week Low % Change from 52 Week Low
${{quote["Year's High"]}} ${{(quote["Historic Close"] - quote["Year's High"]) | setDecimalCheckForNa}} {{(((quote["Historic Close"] / quote["Year's High"]) - 1) * 100) | setDecimalCheckForNa}}% ${{quote["Year's Low"] | setDecimalCheckForNa}} ${{(quote["Historic Close"] - quote["Year's Low"])| setDecimalCheckForNa}} {{(((quote["Historic Close"] / quote["Year's Low"]) - 1) * 100) | setDecimalCheckForNa}}%
Date Open High Low Close Volume

Upcoming Dividends

Organization Details RIC Dividend Amount Ex Dividend Date Dividend Payment Date Yield Franking % Earnings Current Price
{{UpcomingDividends[0]['Display Name']}} {{UpcomingDividends[0].RIC}} {{UpcomingDividends[0].Dividend}} {{UpcomingDividends[0]['Ex-Dividend Date']}} {{UpcomingDividends[0]['Dividend Date']}} {{UpcomingDividends[0]['Yield']}} {{UpcomingDividends[0]['GEN VAL2']}} {{UpcomingDividends[0].Earnings}} {{UpcomingDividends[0]['CF Last Price']}}
The next upcoming dividend date has not yet been announced - Please watch this place for updated dividend information

Historical Dividends

Dividend Yield Dividend Yield (5 Yr Avg) ISIN Stock Code (RIC) SEDOL Dividend Currency
{{ratios.Valuation.DivYield_CurTTM.Value | setDecimalCheckForNa}} {{ratios.Valuation.YLD5YAVG.Value | setDecimalCheckForNa}} {{Dividends[0].ISIN}} {{Dividends[0].RIC}} {{Dividends[0].SEDOL}} {{Dividends[0].DividendCurrency != '' ? Dividends[0].DividendCurrency : '-'}}
Year CorpActID DPTD DivAnnDate DivExDate DivPayDate DTMD DivRate DRD DRPrice DTMD DTMD Frank%
{{item.DividendExDate == '01/01/1900' ? '-' : item.DividendExDate| date : 'dd/MM/yyyy'}} {{item.CorporateActionsID}} {{item.DividendPaymentTypeDescription}} {{item.DividendAnnoucementDate == '00/01/1900' ? '-' : item.DividendAnnoucementDate| date : 'dd/MM/yyyy'}} {{item.DividendExDate == '01/01/1900' ? '-' : item.DividendExDate| date : 'dd/MM/yyyy'}} {{item.DividendPayDate == '01/01/1900' ? '-' : item.DividendPayDate| date : 'dd/MM/yyyy'}} {{item.DividendTypeMarkerDescription}} {{item.DividendRate != '0' ? item.DividendRate : '-'}} {{item.DividendReinvestmentDeadline == '01/01/1900' ? '-' : item.DividendReinvestmentDeadline| date : 'dd/MM/yyyy'}} {{item.DividendReinvestmentPrice != '0' ? item.DividendReinvestmentPrice : '-'}} {{item.DividendTaxMarkerDescription != '' ? item.DividendTaxMarkerDescription : '-'}} {{item.DividendTaxRate != '0' ? item.DividendTaxRate :'-'}} {{item.FrankingPercent != '0' ? item.FrankingPercent : '-'}}

Share Statistics

  Revenue/Share Free Cash Flow Per Share Cash Flow Per Share Book Value Per Share Book Value(tangible) Per Share Cash Per Share
Most Recent Quarter - - - {{ratios['Per share data'].QBVPS.Value | setDecimalCheckForNa}} {{ratios['Per share data'].QTANBVPS.Value | setDecimalCheckForNa}} {{ratios['Per share data'].QCSHPS.Value | setDecimalCheckForNa}}
Most Recent Fiscal Year {{ratios['Per share data'].AREVPS.Value | setDecimalCheckForNa}} - {{ratios['Per share data'].ACFSHR.Value | setDecimalCheckForNa}} {{ratios['Per share data'].ABVPS.Value | setDecimalCheckForNa}} {{ratios['Per share data'].ATANBVPS.Value | setDecimalCheckForNa}} {{ratios['Per share data'].ACSHPS.Value | setDecimalCheckForNa}}
Trailing 12 Months {{ratios['Per share data'].TTMREVPS.Value | setDecimalCheckForNa}} {{ratios['Per share data'].TTMFCFSHR.Value | setDecimalCheckForNa}} {{ratios['Per share data'].TTMCFSHR.Value | setDecimalCheckForNa}} - - -
  Dividend Per Share EPS Normalized EPS Basic Exluding Extraordinary Items EPS Including Extraordinary Items EPS Excluding Extraordinary Items EBITD Per Share
Most Recent Fiscal Year {{ratios['Per share data'].ADIVSHR.Value | setDecimalCheckForNa}} {{ratios['Per share data'].AEPSNORM.Value | setDecimalCheckForNa}} {{ratios['Per share data'].ABEPSXCLXO.Value | setDecimalCheckForNa}} {{ratios['Per share data'].AEPSINCLXO.Value | setDecimalCheckForNa}} {{ratios['Per share data'].AEPSXCLXOR.Value | setDecimalCheckForNa}} -
Trailing 12 Months {{ratios['Per share data'].TTMDIVSHR.Value | setDecimalCheckForNa}} - {{ratios['Per share data'].TTMBEPSXCL.Value | setDecimalCheckForNa}} {{ratios['Per share data'].TTMEPSINCX.Value | setDecimalCheckForNa}} {{ratios['Per share data'].TTMEPSXCLX.Value | setDecimalCheckForNa}} {{ratios['Per share data'].TTMEBITDPS.Value | setDecimalCheckForNa}}
5 Year Average {{ratios['Per share data'].ADIV5YAVG.Value | setDecimalCheckForNa}} - - - - -
Avg Vol(3 month) Avg Vol(10 day) Shares Outstanding Float % Held by Insiders % Held by Institutions Shares Short Shares Ratio Short % of Float Shares Short(prior month)
{{ratios['Price and Volume'].VOL3MAVG.Value | checkForNa}} {{ratios['Price and Volume'].VOL10DAVG.Value | checkForNa}} - - - - - - - -
Common Shareholders Shares Outstanding Shares Issued Float
{{generalInfo.CompanyGeneralInfo.CommonShareholders.Value | checkForNa}} {{sharesIssuedData.SharesOut | abbreviateNumber | checkForNa}} {{sharesIssuedData.SharesIssued | abbreviateNumber | checkForNa}} {{sharesIssuedData.Float | abbreviateNumber | checkForNa}}
Index Code Index name
{{item}} {{generalInfo.IndexMembership[item]}}
N/A N/A
Order Industry Type Code Mnemonic Reported
N/AN/AN/AN/AN/AN/A
{{detail.Order | checkForNa}} {{detail.Description | checkForNa}} {{industry | checkForNa}} {{detail.Code | checkForNa}} {{detail.Mnemonic | checkForNa}}

Valuation Ratios

  P/E excluding extraordinary items P/E Normalized P/E Basic excluding extraordinary items P/E excluding extraordinary items high P/E excluding extraordinary items low P/E including extraordinary items
Most Recent Fiscal Year {{ratios.Valuation.APEEXCLXOR.Value | setDecimalCheckForNa}} {{ratios.Valuation.APENORM.Value | setDecimalCheckForNa}} - - - -
TTM {{ratios.Valuation.PEEXCLXOR.Value | setDecimalCheckForNa}} - {{ratios.Valuation.PEBEXCLXOR.Value | setDecimalCheckForNa}} {{ratios.Valuation.TTMPEHIGH.Value | setDecimalCheckForNa}} {{ratios.Valuation.TTMPELOW.Value | setDecimalCheckForNa}} {{ratios.Valuation.PEINCLXOR.Value | setDecimalCheckForNa}}
  Price to Sales Price to Tangible Book Price to Free Cash Flow per Share Price to Cash Flow per Share Price to Book
Most Recent Fiscal Year {{ratios.Valuation.APR2REV.Value | setDecimalCheckForNa}} {{ratios.Valuation.APR2TANBK.Value | setDecimalCheckForNa}} {{ratios.Valuation.APRFCFPS.Value | setDecimalCheckForNa}} - {{ratios.Valuation.APRICE2BK.Value | setDecimalCheckForNa}}
Trailing 12 Months {{ratios.Valuation.TTMPR2REV.Value | setDecimalCheckForNa}} - {{ratios.Valuation.TTMPRFCFPS.Value | setDecimalCheckForNa}} {{ratios.Valuation.TTMPRCFPS.Value | setDecimalCheckForNa}} -
Most Recent Quarter - {{ratios.Valuation.PR2TANBK.Value | setDecimalCheckForNa}} - - {{ratios.Valuation.PRICE2BK.Value | setDecimalCheckForNa}}
Dividend Yield - 5 Year Average {{ratios.Valuation.YLD5YAVG.Value | setDecimalCheckForNa}}
Dividend Yield - indicated annual dividend divided by closing price {{ratios.Valuation.YIELD.Value | setDecimalCheckForNa}}
Current Dividend Yield - Common Stock Primary Issue, LTM {{ratios.Valuation.DivYield_CurTTM.Value | setDecimalCheckForNa}}
Net Debt, LFI {{ratios.Valuation.NetDebt_I.Value | setDecimalCheckForNa}}
Net Debt, LFY {{ratios.Valuation.NetDebt_A.Value | setDecimalCheckForNa}}

Financial Strength Ratios

  Current ratio Quick ratio LT debt/equity Total debt/total equity
Most Recent Quarter {{ratios['Financial strength'].QCURRATIO.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].QQUICKRATI.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].QLTD2EQ.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].QTOTD2EQ.Value | setDecimalCheckForNa}}
Most Recent Fiscal Year {{ratios['Financial strength'].ACURRATIO.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].AQUICKRATI.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].ALTD2EQ.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].ATOTD2EQ.Value | setDecimalCheckForNa}}
  Payout ratio Current EV/Free Cash Flow Interest coverage Total debt/total equity
Most Recent Fiscal Year {{ratios['Financial strength'].APAYRATIO.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].EV2FCF_CurA.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].AINTCOV.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].ATOTD2EQ.Value | setDecimalCheckForNa}}
Trailing 12 Months {{ratios['Financial strength'].TTMPAYRAT.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].EV2FCF_CurTTM.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].TTMINTCOV.Value | setDecimalCheckForNa}} -
Income Statement Revenue EBITD Earnings before taxes Net Income available to common Earnings before taxes Normalized Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding
Most Recent Fiscal Year {{ratios['Income Statement'].AREV.Value | setDecimalCheckForNa}} {{ratios['Income Statement'].AEBITD.Value | setDecimalCheckForNa}} {{ratios['Income Statement'].AEBT.Value | setDecimalCheckForNa}} {{ratios['Income Statement'].ANIAC.Value | setDecimalCheckForNa}} {{ratios['Income Statement'].AEBTNORM.Value | setDecimalCheckForNa}} -
Trailing 12 Months {{ratios['Income Statement'].TTMREV.Value | setDecimalCheckForNa}} {{ratios['Income Statement'].TTMEBITD.Value | setDecimalCheckForNa}} {{ratios['Income Statement'].TTMEBT.Value | setDecimalCheckForNa}} {{ratios['Income Statement'].TTMNIAC.Value | setDecimalCheckForNa}} - {{ratios['Income Statement'].VDES_TTM.Value | setDecimalCheckForNa}}
  Gross Margin Net Profit Margin % Operating Margin Pre Tax Margin Free Operating Cash Flow/Revenue
1st Historical Fiscal Year {{ratios.Margins.AGROSMGN.Value | setDecimalCheckForNa}} {{ratios.Margins.ANPMGNPCT.Value | setDecimalCheckForNa}} {{ratios.Margins.AOPMGNPCT.Value | setDecimalCheckForNa}} {{ratios.Margins.APTMGNPCT.Value | setDecimalCheckForNa}} -
Trailing 12 Months {{ratios.Margins.TTMGROSMGN.Value | setDecimalCheckForNa}} {{ratios.Margins.TTMNPMGN.Value | setDecimalCheckForNa}} {{ratios.Margins.TTMOPMGN.Value | setDecimalCheckForNa}} {{ratios.Margins.TTMPTMGN.Value | setDecimalCheckForNa}} {{ratios.Margins.Focf2Rev_TTM.Value | setDecimalCheckForNa}}
5 Year Average {{ratios.Margins.GROSMGN5YR.Value | setDecimalCheckForNa}} {{ratios.Margins.MARGIN5YR.Value | setDecimalCheckForNa}} {{ratios.Margins.OPMGN5YR.Value | setDecimalCheckForNa}} {{ratios.Margins.PTMGN5YR.Value | setDecimalCheckForNa}} {{ratios.Margins.Focf2Rev_AAvg5.Value | setDecimalCheckForNa}}
Risk Ratio Current Ratio Quick Ratio Interest Coverage LT Debt/Equity Total Debt/Total equity
Most Recent Quarter {{ratios['Financial strength'].QCURRATIO.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].QQUICKRATI.Value | setDecimalCheckForNa}} - {{ratios['Financial strength'].QLTD2EQ.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].QTOTD2EQ.Value | setDecimalCheckForNa}}
Most Recent Fiscal Year {{ratios['Financial strength'].ACURRATIO.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].AQUICKRATI.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].AINTCOV.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].ALTD2EQ.Value | setDecimalCheckForNa}} {{ratios['Financial strength'].ATOTD2EQ.Value | setDecimalCheckForNa}}
Trailing 12 Months - - {{ratios['Financial strength'].TTMINTCOV.Value | setDecimalCheckForNa}} - -

Management Effectiveness Ratios

Turnover Asset Inventory Receivables
Most Recent Fiscal Year {{ratios['Mgmt Effectiveness'].AASTTURN.Value | setDecimalCheckForNa}} {{ratios['Mgmt Effectiveness'].AINVTURN.Value | setDecimalCheckForNa}} {{ratios['Mgmt Effectiveness'].ARECTURN.Value | setDecimalCheckForNa}}
Trailing 12 Months {{ratios['Mgmt Effectiveness'].TTMASTTURN.Value | setDecimalCheckForNa}} {{ratios['Mgmt Effectiveness'].TTMINVTURN.Value | setDecimalCheckForNa}} {{ratios['Mgmt Effectiveness'].TTMRECTURN.Value | setDecimalCheckForNa}}
Return on Average Assets EBITD Equity Investment
Most Recent Fiscal Year {{ratios['Mgmt Effectiveness'].AROAPCT.Value | setDecimalCheckForNa}} - {{ratios['Mgmt Effectiveness'].AROEPCT.Value | setDecimalCheckForNa}} {{ratios['Mgmt Effectiveness'].AROIPCT.Value | setDecimalCheckForNa}}
Trailing 12 Months {{ratios['Mgmt Effectiveness'].TTMROAPCT.Value | setDecimalCheckForNa}} - {{ratios['Mgmt Effectiveness'].TTMROEPCT.Value | setDecimalCheckForNa}} {{ratios['Mgmt Effectiveness'].TTMROIPCT.Value | setDecimalCheckForNa}}
5 Year Average {{ratios['Mgmt Effectiveness'].AROA5YAVG.Value | setDecimalCheckForNa}} - {{ratios['Mgmt Effectiveness'].AROE5YAVG.Value | setDecimalCheckForNa}} {{ratios['Mgmt Effectiveness'].AROI5YRAVG.Value | setDecimalCheckForNa}}
Employees Net Income Revenue
Most Recent Fiscal Year {{ratios['Mgmt Effectiveness'].ANIPEREMP.Value | setDecimalCheckForNa}} {{ratios['Mgmt Effectiveness'].AREVPEREMP.Value | setDecimalCheckForNa}}
Trailing 12 Months {{ratios['Mgmt Effectiveness'].TTMNIPEREM.Value | setDecimalCheckForNa}} {{ratios['Mgmt Effectiveness'].TTMREVPERE.Value | setDecimalCheckForNa}}

Growth Ratios

Growth Rates Revenue % EPS Dividend Revenue/Share Book Value Per Share Capital Spending Net Profit Margin
Most Recent Quarter 1 Year Ago {{ratios.Growth.REVCHNGYR.Value | setDecimalCheckForNa}} {{ratios.Growth.EPSCHNGYR.Value | setDecimalCheckForNa}} - - - - -
5 Years {{ratios.Growth.REVTRENDGR.Value | setDecimalCheckForNa}} {{ratios.Growth.EPSTRENDGR.Value | setDecimalCheckForNa}} - {{ratios.Growth.REVPS5YGR.Value | setDecimalCheckForNa}} {{ratios.Growth.BVTRENDGR.Value | setDecimalCheckForNa}} {{ratios.Growth.CSPTRENDGR.Value | setDecimalCheckForNa}} {{ratios.Growth.NPMTRENDGR.Value | setDecimalCheckForNa}}
3 Years {{ratios.Growth.REVGRPCT.Value | setDecimalCheckForNa}} {{ratios.Growth.EPSGRPCT.Value | setDecimalCheckForNa}} {{ratios.Growth.DIVGRPCT.Value | setDecimalCheckForNa}} - - - -
TTM over TTM {{ratios.Growth.EPSTRENDGR.Value | setDecimalCheckForNa}} {{ratios.Growth.TTMEPSCHG.Value | setDecimalCheckForNa}} - - - - -
CAGR Free Operating Cash Flow Earnings Before Interest, Taxes, Depreciation & Amortization Tangible Book Value Total Debt
5 Year CAGR {{ratios.Growth.FOCF_AYr5CAGR.Value | setDecimalCheckForNa}} {{ratios.Growth.Ebitda_AYr5CAGR.Value | setDecimalCheckForNa}} {{ratios.Growth.TanBV_AYr5CAGR.Value | setDecimalCheckForNa}} {{ratios.Growth.STLD_AYr5CAGR.Value | setDecimalCheckForNa}}
5 Year Interim CAGR - {{ratios.Growth.Ebitda_TTMY5CAGR.Value | setDecimalCheckForNa}} - -

Forecast Ratios

Projected Sales ProjSalesH ProjSalesL ProjSalesNumOfEst ProjSalesPS
{{forecasts.ProjSales | setDecimalCheckForNa}} {{forecasts.ProjSalesH | setDecimalCheckForNa}} {{forecasts.ProjSalesL | setDecimalCheckForNa}} {{forecasts.ProjSalesNumOfEst | setDecimalCheckForNa}} {{forecasts.ProjSalesPS | setDecimalCheckForNa}}
ProjSalesQ ProjSalesQH ProjSalesQL ProjSalesQNumOfEst Price2ProjSales
{{forecasts.ProjSalesQ | setDecimalCheckForNa}} {{forecasts.ProjSalesQH | setDecimalCheckForNa}} {{forecasts.ProjSalesQL | setDecimalCheckForNa}} {{forecasts.ProjSalesQNumOfEst | setDecimalCheckForNa}} {{forecasts.Price2ProjSales | setDecimalCheckForNa}}
ProjEPS ProjEPSHigh ProjEPSLow ProjEPSNumOfEst ProjEPSQ
{{forecasts.ProjEPS | setDecimalCheckForNa}} {{forecasts.ProjEPSH | setDecimalCheckForNa}} {{forecasts.ProjEPSL | setDecimalCheckForNa}} {{forecasts.ProjEPSNumOfEst | setDecimalCheckForNa}} {{forecasts.ProjEPSQ | setDecimalCheckForNa}}
ProjEPSQH ProjEPSQL ProjEPSQNumOfEst ProjPE ProjLTGrowthRate
{{forecasts.ProjEPSQH | setDecimalCheckForNa}} {{forecasts.ProjEPSQL | setDecimalCheckForNa}} {{forecasts.ProjEPSQNumOfEst | setDecimalCheckForNa}} {{forecasts.ProjPE | setDecimalCheckForNa}} {{forecasts.ProjLTGrowthRate | setDecimalCheckForNa}}
TargetPrice EPSActual EPSPrev EPSSurprise EPSSurprisePrc
{{forecasts.TargetPrice | setDecimalCheckForNa}} {{forecasts.EPSActual | setDecimalCheckForNa}} {{forecasts.EPSPrev | setDecimalCheckForNa}} {{forecasts.EPSSurprise | setDecimalCheckForNa}} {{forecasts.EPSSurprisePrc | setDecimalCheckForNa}}
EPSActualQ EPSPrevQ EPSSurpriseQ EPSSurpriseQPrc
{{forecasts.EPSActualQ | setDecimalCheckForNa}} {{forecasts.EPSPrevQ | setDecimalCheckForNa}} {{forecasts.EPSSurpriseQ | setDecimalCheckForNa}} {{forecasts.EPSSurpriseQPrc | setDecimalCheckForNa}}
ProjProfit ProjProfitH ProjProfitL ProjProfitNumOfEst
{{forecasts.ProjProfit | setDecimalCheckForNa}} {{forecasts.ProjProfitH | setDecimalCheckForNa}} {{forecasts.ProjProfitL | setDecimalCheckForNa}} {{forecasts.ProjProfitNumOfEst | setDecimalCheckForNa}}
ProjDPS ProjDPSH ProjDPSL ProjDPSNumOfEst
{{forecasts.ProjDPS | setDecimalCheckForNa}} {{forecasts.ProjDPSH | setDecimalCheckForNa}} {{forecasts.ProjDPSL | setDecimalCheckForNa}} {{forecasts.ProjDPSNumOfEst | setDecimalCheckForNa}}

Financial Reports

Financial Summary

Last Updated: {{generalInfo.TextInfo['Financial Summary'].LastUpdated}}

{{generalInfo.TextInfo['Financial Summary'].Value && generalInfo.TextInfo['Financial Summary'].Value != ''? generalInfo.TextInfo['Financial Summary'].Value: 'No Financial Summary Found.'}}


Accounting Notes
Fiscal Year Ends Most Recent Quarter Transfer agent Auditor Shariah Compliant

{{generalInfo.CompanyGeneralInfo.TotalSharesOut.Data | date:'dd/MM/yyyy' }}

-

- - {{generalInfo.Auditor && generalInfo.Auditor != ''? generalInfo.Auditor : '-'}}
Fiscal Period
Period End Date:
Period Length
Ratios Value
Analyst Footnotes

Last Updated: {{generalInfo.TextInfo['Analyst Footnotes'].LastUpdated}}

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Directors, Officers & Company Executives

Start Date End Date
{{personobject.PersonInformation.Name.Info| getDirectorFullNameIncludingPrefix}}
{{persontitlesobject.Value}}, {{persontitles.Start.Day}}-{{persontitles.Start.Month}}-{{persontitles.Start.Year}} {{persontitles.End.Day}}-{{persontitles.End.Month}}-{{persontitles.End.Year}}
No Directors, Officers & Company Executives Information Found.

Recommendation Statistics

No Recommendation Statistics

Recommendation Statistics
Recommendation Number Of Analysts
Sell Reduce Hold Buy Strong Buy {{stats.NumberOfAnalysts}}
I/B/E/S Mean
{{verdict[meanmarker]}} {{analystvotes}} Analysts Mean recommendation from all analysts covering the company on a standardized 5-point scale.
  • Sell
  • Reduce
  • Hold
  • Buy
  • Strong Buy

Past Broker Recommendations

No Past Recommendations

Past Broker Recommendations
  Sell Underperform Hold Buy Strong Buy Total
{{snapshots.Age === 1 ? "1 Week Ago" : (snapshots.Age === 2 ? "30 Days Ago" : (snapshots.Age === 3 ? "60 Days Ago" : (snapshots.Age === 4 ? "90 Days Ago" : "")))}} {{snapshots.Statistics[0].NumberOfAnalysts}} {{snapshots.Statistics[1].NumberOfAnalysts}} {{snapshots.Statistics[2].NumberOfAnalysts}} {{snapshots.Statistics[3].NumberOfAnalysts}} {{snapshots.Statistics[4].NumberOfAnalysts}} {{snapshots.NumberOfRecommendations}}

Target Price

No Target Price

Target Price
Mean {{priceTarget.Mean}}
High {{priceTarget.High}}
Low {{priceTarget.Low}}
Median {{priceTarget.Median}}
Standard Devitation {{priceTarget.StandardDeviation}}
Number Of Estimates {{priceTarget.NumberOfEstimates}}

Videos

No Videos Found

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Video Preview
Video Preview

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Contact Info

BWP Trust

Level 11
40 The Esplanade
Perth, WA
AU Australia, 6000

Phone: +61 8 9327 4356
Fax: +61 8 9327 4344
Email: investorrelations@bwptrust.com.au
Website: http://www.bwptrust.com.au

Click here to view the interactive map
BWP Trust Google Map
BWP Trust Google Map

Share Registry

Computershare Investor Services Pty Limited - Click here to view share registry profile

Phone: +61 3 9415 5000
Fax: +61 3 9473 2500
Email: investor.relations@computershare.com.au
Website: http://www.computershare.com/

452 Johnston Street
Abbotsford, VIC
AU Australia, 3067


Important Information

The General Overview, Services, Products and Projects information for this profile was last edited on 15 Jun 2016.

All Financial Data is provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Share Prices nor any independent data provider is liable for any informational errors, omissions or other defects, incompleteness, or delays, or for any actions taken in reliance on Financial Data.

Please read our Terms & Conditions and Disclaimer Statement for further information.

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