Australia · Delayed Price · Currency is AUD Region Group Earnings Call Transcripts
Fiscal Year 2026
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First half FY 2026 saw 3.9% FFO growth, improved occupancy, and resilient nondiscretionary retail performance. Guidance for FY 2026 was upgraded, with disciplined capital management and acquisitions supporting long-term growth.
Fiscal Year 2025
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The meeting reviewed strong FY 2025 financials, stable distributions, and strategic growth, while addressing shareholder concerns about capital growth, expense transparency, and governance. Board transitions and executive remuneration were discussed, with all resolutions recommended for approval.
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Earnings growth resumed with FFO and AFFO in line with guidance, supported by resilient operational metrics and valuation gains. FY 2026 guidance targets further growth, with strong demand for retail assets and disciplined capital management underpinning a positive outlook.
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FFO and AFFO were stable, with strong occupancy and resilient non-discretionary retail growth. Capital recycling and disciplined acquisitions supported asset quality, while guidance for FY25 was maintained despite short-term impacts from repositioning and tenant administration.
Fiscal Year 2024
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The meeting reviewed a year of resilient operational performance despite higher debt costs, with stable distributions, strong leasing, and a focus on non-discretionary retail. Strategic divestments, sustainability initiatives, and disciplined acquisitions were highlighted, and all resolutions passed with strong support.
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FY 2024 saw resilient operational metrics, with 98% occupancy and strong non-discretionary growth, but FFO per security fell 9% year-over-year due to higher debt costs. Capital recycling and disciplined acquisitions supported a healthy balance sheet, with FY 2025 guidance targeting modest FFO and AFFO growth.