H&R REIT (HR.UN) 2009年年度报告「TSX」.pdf

1、 2009 Fourth Quarter and Annual Report to Unitholders Since 1996,H&R REIT has ensured financial stability through a disciplined strategy based on long-term commercial property leasing and financing,accretive acquisitions and conservative balance sheet management.Financial Results The following table

2、 includes non-GAAP(Generally Accepted Accounting Principles)information that should not be construed as an alternative to net earnings or cash provided by operations and may not be comparable to similar measures presented by other issuers as there is no standardized meaning of funds from operations(

3、“FFO”)and adjusted funds from operations(“AFFO”)under GAAP.Financial information for the period ending after October 1,2008 is presented herein on a combined and/or stapled basis.Financial information for the period ended prior to October 1,2008 is presented for H&R REIT.3 months ended Dec.31 12 mon

4、ths ended Dec.31 2009 2008 2009 2008 FFO(millions)*$54.5$46.9$225.2$228.3 FFO per stapled unit(basic)$0.37$0.32$1.52$1.61 AFFO(millions)*$51.1$54.8$223.4$214.3 AFFO per stapled unit(basic)$0.34$0.37$1.51$1.51 Cash distributions paid(millions)(net of DRIP)$24.4$44.0$97.7$161.8 Cash distributions per

5、stapled unit$0.18$0.36$0.72$1.44*Reconciliations of net earnings to FFO,and AFFO to cash provided by operations are included in H&Rs MD&A.The following table includes results reported in accordance with Canadian GAAP.3 months ended Dec.31 12 months ended Dec.31 2009 2008 2009 2008 Rentals from incom

6、e properties(millions)$151.7$151.3$605.2$592.0 Net earnings(millions)*$29.9$45.8$86.5$97.7 Net earnings per stapled unit(basic)$0.21$0.33$0.61$0.73 Cash provided by operations(millions)*$66.6$73.4$238.9$233.2 As at year end 2009,H&Rs debt to gross book value(calculated in accordance with the Declara