Preliminary Final Report - Financial Review

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• US$109m (US$49m) for the construction of theSamriya Tower, Qatar, for Sheikh Faisal Bin QassamAl Thani-Al Jazi Real Estate Investment Company.• US$105m (US$47m) for the construction of the IrisBay commercial development, Dubai, UAE, for ShethEstate (International) Ltd.• US$424m (US$191m) for the construction of the CityCentre Phase 3, Qatar for Sheikh Faisal Bin QassamAl Thani-Al Rayyan Tourism Investment Company.Leighton Properties• Section 63: A 50% owner and joint venturedevelopment partner for a planned $900m 4-buildingphased commercial development in Civic, Canberra,ACT.• 567 Collins Street: A 50% joint venture developmentpartner of a site where a $350m commercial building isproposed in Melbourne CBD, VICic.• Cranbourne West: An owner and developer of a 120hectare industrial site on Westernport Hwy, inMelbourne, VIC.• Bay Road Cheltenham: Owner of units in a completedstrata unit development in Melbourne, VIC.• Hallam: Leighton Properties is a 50% owner and jointventure development partner of an industrial lot subdivisionunderway in Melbourne, VIC.• Deer Park: Leighton Properties is a joint venturedevelopment partner of a staged industrial lotdevelopment underway in Melbourne, Vic.• 486 Pacific Hwy: A 50% owner and joint venturedevelopment partner of a commercial office buildingproposed for redevelopment in St Leonards, Sydney,NSW.• Erskineville: A joint venture owner and developer of asite for a planned 320 unit medium rise residentialdevelopment in Erskineville, Sydney, NSW.• 60 Station St: A 50% owner and joint venturedevelopment partner for a commercial building,“Eclipse Tower”, which is under construction inParramatta, NSW.• King George Central: The developer of a commercialoffice tower which has been sold to CommonwealthProperty Office Fund (CPA) for $210m and is underconstruction in Brisbane CBD, QLD.• Ipswich Tower A: The developer of a commercial officetower which has been pre-sold to Cromwell Group for$94m and is under construction in Ipswich, QLD.• Ipswich ICON Project: An agreement with Ipswich CityProperties to develop a $1 billion mixed usecommercial, retail and residential development,including Ipswich Tower A, at Ipswich Town Centre,QLD.• Hamilton Harbour: Leighton Properties and Devinejointly own and are developing a $500m staged mixeduse residential and office development in Hamilton,Brisbane QLD. The first two towers have completedconstruction and a third tower is under construction.• Mosaic: A joint venture owner and developer of amixed use development including 212 residentialapartments which is under construction in ChurchStreet, Fortitude Valley, Brisbane, QLD• Townsville: Leighton Properties and Devine jointly owna site where a mixed use residential, retail and officeprecinct is proposed for development in TownsvilleQLD.• Beckmans Green: An owner and developer of lots in acompleted residential land subdivision at Noosaville,QLD.• Boggo Rd: An agreement with the QLD StateGovernment to develop a $350m mixed usecommercial, retail and residential development atDutton Park, QLD.# # # # # # #•Leighton Holdings Limited DECEMBER 2011 UPDATE Page 52
Media Release13 February 2012 Underlying strength puts Leighton back on trackLeighton Holdings Limited has generated a profit after tax of $340 million for the 6 monthtransitional year from 1 July 2011 to 31 December 2011 (the period) based on strongperformances across the core construction and mining operations in Australia and Asia.The directors have restored the dividend with the payment of an unfranked final dividend of [60]cents per share which demonstrates the Board’s confidence in the outlook for the LeightonGroup.Chief Executive Officer, Mr Hamish Tyrwhitt, said that the results were testament to the Group’sstrategy and the strength of our business model, which allows us to pursue opportunities acrossthe infrastructure, resources and property markets in a range of diverse geographies.“The Group reported a strong underlying profit (profit adjusted for the capital gain andimpairments) after tax of $272 million for the period. Supplementing the result was a capital gainof $167 million after tax from the sale of the HWE Mining iron ore business,” said Mr Tyrwhitt.The Group has also taken a $50 million after tax impairment to the investment value of theHabtoor Leighton Group and a $49 million after tax impairment to the equity commitment withrespect to BrisConnections, the listed toll-road developer. The net gain after impairments of $68million, when added to the operating profit after tax of $272 million, produced a reported profitafter tax for the period of $340 million.Revenue for the period totalled $12.2 billion with $10.0 billion generated from theAustralia/Pacific region and $2.2 billion from the Group’s international operations. The majorrevenue generating markets for the Group were infrastructure $6.7 billion, resources $4.4 billionand property $885 million. The Group’s Operating Companies provided a range of services tothese markets including construction $7.3 billion, contract mining $3.1 billion, and operationsand maintenance $1.0 billion.Work in hand as at 31 December 2011 was $44.6 billion, with 64% coming from theAustralia/Pacific region and 36% from international markets. After adding back the $1.2 billion ofwork in hand that was sold as part of the HWE Mining iron ore transaction, work in hand isaround the same level as the record of $46.2 billion as of 30 June 2011.“Our major PPPs – Brisbane’s Airport Link and the Victorian Desalination Project - are drawingto completion. Both projects have stabilised during recent months and positive progress is beingmade,” said Mr Tyrwhitt.“Underpinning our ability to pursue and deliver work is the strength of the Group’s balancesheet. At year end, the Group had a solid capital base with $2.8 billion of shareholders’ equityand $9.9 billion of total assets.“The Group retained $1.5 billion in cash, and gearing including operating leases improved from35% at 30 June 2011 to 32% as at 31 December 2011, which is an improvement on the Group’stargeted range of between 35% and 45%,” said Mr Tyrwhitt.“The Group’s outlook is positive with near record level of work in hand, a solid balance sheetand favourable market conditions. We are currently preparing around $30 billion worth oftenders which demonstrates that there is no shortage of opportunities for us to pursue. We havewon $1.7 billion new contracts since 31 December and have preferred positions on another $6billion of contract potentials.Page 1 of 3
Page 1 and 2:
13 February 2012ASX Market Announce
Page 3 and 4: APPENDIX 4E &PRELIMINARY FINALREPOR
Page 5 and 6: Commentary on the Resultsfor the pe
Page 7 and 8: Consolidated Income Statementfor th
Page 9 and 10: Consolidated Balance Sheetas at 31
Page 11 and 12: Consolidated Statement of Cash Flow
Page 13 and 14: Notes continuedfor the period ended
Page 35 and 36: DECEMBER UPDATEFOR THE DECEMBER 201
Page 37 and 38: December 2011 UpdateExplanatory Not
Page 39 and 40: engineering and construction compet
Page 41 and 42: under cover. Industrial relations p
Page 43 and 44: John HollandJohn Holland boosted it
Page 45 and 46: The Leighton Properties portfolio h
Page 47 and 48: Operating Revenue AnalysisOperating
Page 49 and 50: Significant Current Contracts and P
Page 51 and 52: • $85m for site preparation at th
Page 53: • US$512m (US$333m) for engineeri
Page 57 and 58: Media Release 13 February 2012LEIGH
Page 59 and 60: PRELIMINARY FINAL REPORTPRESENTATIO
Page 61 and 62: 1. Overview of the Year
Page 63 and 64: Overview of the YearNOW BACK ON TRA
Page 65 and 66: 2. Strategic and OperationalUpdate
Page 67 and 68: Strategic and Operational UpdateFIN
Page 69 and 70: Strategic and Operational UpdateRIS
Page 71 and 72: Victorian Desalination Project,Vict
Page 73: Airport Link, Queensland,Thiess/Joh
Page 76 and 77: Strategic and Operational UpdateSAF
Page 78 and 79: Strategic and Operational UpdatePOT
Page 80 and 81: Detailed FinancialsSUMMARY OF FINAN
Page 82 and 83: Detailed FinancialsSUMMARY OF OPERA
Page 84 and 85: Detailed FinancialsSOLID OPERATING
Page 86 and 87: Detailed FinancialsLIABILITIES - DO
Page 88 and 89: Detailed FinancialsDEBT MATURITY PR
Page 90 and 91: 4. Market Outlook andPriorities
Page 92 and 93: Market Outlook and PrioritiesAUSTRA
Page 94 and 95: Market Outlook and PrioritiesASIAN
Page 96 and 97: Market Outlook and PrioritiesPRIORI
Page 98 and 99: Market Outlook and PrioritiesSUMMAR
Page 100 and 101: Appendix:Including OperationalCompa
Page 102 and 103: Appendix:Including Operational Comp
Page 104 and 105:
Appendix:Including Operational Comp
Page 106 and 107:
Page 108 and 109:
Page 110:
PRELIMINARY FINAL REPORTPRESENTATIO
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