Australia · Delayed Price · Currency is AUD Mirvac Group Earnings Call Transcripts
Fiscal Year 2026
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Strong half-year results with 10% EBIT and 5% EPS growth, driven by robust residential sales, positive leasing, and valuation gains across all asset classes. Strategic capital partnering and portfolio repositioning support future earnings growth, with guidance reaffirmed for FY.
Fiscal Year 2025
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Solid FY 2025 results were delivered, with strong growth in living and industrial sectors, robust capital management, and enhanced governance. All resolutions passed, including director elections and remuneration, despite some dissent on one director. Strategic focus remains on growth, resilience, and sustainability.
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FY2025 saw a strategic turnaround with strong growth in living and industrial segments, robust capital partnering, and improved balance sheet strength. FY2026 guidance points to 6.7%–8.3% EPS growth, higher dividends, and strong visibility of earnings from a deep development pipeline.
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Operating profit after tax reached AUD 236 million, with strong growth in the living sector and robust residential sales. Gearing remains at 26%, and the company is on track to meet FY25 guidance, with margin normalization and earnings growth expected into FY2026.
Fiscal Year 2024
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The meeting reviewed a year of strategic repositioning, with strong EBIT growth but a statutory loss due to asset revaluations. Board renewal, a focus on living and industrial sectors, and robust sustainability initiatives were highlighted. All resolutions, including director elections and remuneration, passed with strong support.
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Capital is being increasingly allocated to living and logistics, leveraging integrated capabilities and strong market tailwinds. Residential, build-to-rent, and land lease pipelines are expanding, with disciplined project selection and capital partnering driving resilient income and margin recovery.
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Delivered strong FY 2024 EBIT growth and high occupancy, but higher interest costs and asset devaluations led to a statutory loss and lower EPS. FY 2025 is expected to be a trough year with lower margins, but a recovery is anticipated as market fundamentals remain positive.