Australia · Delayed Price · Currency is AUD Region Group Earnings Call Transcripts
Fiscal Year 2026
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Earnings and asset values grew in H1 FY 2026, with FFO up 3.9% and NTA per security up 3.6%. Guidance for FY 2026 was upgraded, supported by resilient nondiscretionary retail, strategic acquisitions, and disciplined capital management.
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 per security were stable year-over-year, with statutory profit rebounding to AUD 82 million. Portfolio occupancy remains high, capital recycling is complete, and guidance for FY25 is maintained, despite short-term impacts from tenant administration and repositioning projects.
Fiscal Year 2024
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The meeting reviewed a year marked by resilient operational performance but lower AFFO due to higher debt costs. Strategic divestments, disciplined acquisitions, and sustainability initiatives were highlighted, with all resolutions strongly supported by shareholders.
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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.