Page 2 - GMT and GMT Bond Issuer Annual Report 2017 v2

This document comprises the annual reports of Goodman Property Trust and GMT Bond Issuer Limited for the year ended 31 March 2017
and contains the information required to be disclosed pursuant to the Listing Rules.
+ The Units in Goodman Property Trust are listed on the NZX with the code of GMT.
+ Bonds issued by GMT Bond Issuer Limited, a wholly-owned subsidiary of Goodman Property Trust, are listed on the NZDX with the code of GMB020 and GMB030.
OPERATING EARNINGS
Operating earnings are a non-GAAP nancial measure included to provide an assessment of the performance of GMT’s principal operating activities. Calculation of operating earnings are as set out in GMT’s Pro t or Loss statement.
CASH EARNINGS
Cash earnings is a non-GAAP measure that assesses free cash ow, on a per unit basis, after adjusting for certain items. Calculation of GMT’s cash earnings is set out on page 16.
CONTENTS
Chairman’s Report
Management Report 08 –11 Property Portfolio 12 –13 Board of Directors 14 Management Team 15 Financial Summary 16 –19
21 –63 GMTBondIssuerLimited 65–76
Goodman Property Trust Financial Statements
04 –07
GOODMAN PROPERTY TRUST
ANNUAL REPORT 2017
GMT BOND ISSUER LIMITED
ANNUAL REPORT 2017
Financial Statements
Other Information 77–93