Australia · Delayed Price · Currency is AUD Vicinity Centres Earnings Call Transcripts
Fiscal Year 2026
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Research into global markets inspired unique, artisan-led precincts and modern marketplace designs. Major investments in retail, office, and residential developments have driven strong sales, robust yields, and premium tenant mixes. Strategic partnerships, operational excellence, and a focus on capability underpin long-term growth.
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FY 2026 saw robust profit growth, strong portfolio metrics, and successful asset recycling, with premium assets now 67% of value and high occupancy at 99.6%. FY 2027 guidance targets 5.3%–6.6% FFO per security growth, supported by stabilized and new developments.
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Net profit surged over 60% to AUD 805.6 million, driven by strong leasing spreads, high occupancy, and portfolio valuation gains. Upgraded FY26 guidance reflects robust rent and sales growth, with major developments and asset rotation supporting future value creation.
Fiscal Year 2025
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The AGM highlighted strong financial results, a shift to premium assets, and major retail developments. Shareholders engaged on distributions, board succession, and ESG, with management emphasizing long-term value and prudent risk management. All resolutions were supported.
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FY 2025 delivered strong financial and operational results, with FFO at $674 million and premium assets driving outperformance. Major developments at Chadstone and Chatswood Chase progressed, and FY 2026 guidance implies 2%–3.5% FFO growth.
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Net profit after tax more than doubled to AUD 492.6 million, with strong NPI growth and robust leasing metrics. Premium assets outperformed, divestments exceeded targets, and major developments progressed despite short-term earnings dilution and sector challenges.
Fiscal Year 2024
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The AGM highlighted strong financial results, a 34% shareholder return, and a strategic shift toward premium assets through acquisitions and divestments. Major redevelopments and sustainability progress were emphasized, with all Board recommendations supported and robust engagement on governance and community issues.
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Delivered strong FY 2024 results with net profit of AUD 547 million and FFO per security above guidance, driven by high occupancy, positive leasing spreads, and strategic acquisitions. Outlook for FY 2025 is positive, with continued portfolio upgrades and disciplined capital management.