2022 Half-Year Results
US$m
Treasury Management
Net Debt and Gearing
Net Debt Reconciliation (US$m)
FY 2021
1H 2022
1H 2021
% YoY
(4,568)
Net debt at beginning of period
(5,104)
(4,568)
+12
18%
15%
792
Net rental income / fee receipts
385
398
-3
12%
1,674
Proceeds from DP sales
328
953
-66
0.7
(1,578)
Trading capex¹
(585)
(411)
+42
1.5
2.3
(432)
Net investment capex²
(352)
(86)
+309
(510)
Dividends
(371)
(370)
6.1
5.1
4.3
(157)
Tax
(43)
(79)
-46
(192)
Share repurchase
(279)
n/a
30 Jun 21
31 Dec 21
30 Jun 22
(133)
Others
(41)
(99)
-59
Net debt
Cash
Gearing (%)
(5,104)
Net debt at end of the period
(6,062)
(4,262)
+42
1.
Includes land and development costs on wholly-owned DP projects
2.
| Financial Highlights | 2022 Half-Year Results
Includes investments in and repayments from associates and joint ventures, as well as major renovation expenditures
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