Centuria results: FY26 strong year of execution, sets FY27 for growth

Building pathway for AI & digital infrastructure growth

• Met FY26 upgraded operating earnings guidance of 13.6 cps¹ and distribution of 10.4 cps
• Operating EBITDA up to $182.5 m; Operating NPAT $113.8 m² (FY25: $100.8 m)
• $1.2 bn property acquisitions³ exceeded FY26 target; Group AUM increased to $22.2 bn⁴ (FY25: $20.6 bn)
• $445 m cash/undrawn debt⁵ with 5.1% operating gearing⁶ provides ability to execute growth strategy
• FY27 guidance: Operating NPAT $130 m up 14%, earnings of 13.0 cps, distribution of 10.4 cps

Australasian real estate funds manager, Centuria Capital Group (ASX:CNI or “Centuria”), today reported its FY26 financial results with the Group delivering on its FY26 earnings and distribution guidance, supported by $1.2 billion of acquisitions.

Centuria met its upgraded FY26 operating earnings per security (OEPS)¹ guidance of 13.6 cents per security (cps), an 11.5% increase on FY25, and distributions guidance of 10.4 cps. Its earnings were underpinned by growth in Operating Net Profit After Tax (ONPAT)² of $113.8 million, up from $100.8 million in the previous period, and an increase in Operating EBITDA of $182.5 million, supported by 23% period on period growth in the Group’s core Property Funds Management segment.

John McBain, Centuria Joint CEO, said, “Centuria’s strong FY26 results are underpinned by the Group’s increased real estate activity over the period. Despite the prevailing economic and geopolitical conditions, these results were delivered through both organic acquisition growth and inorganic growth, with the acquisition of Arrow Primary Infrastructure Fund (“Arrow”), strengthening the diversification and capability of our platform.”

During the period, Centuria increased its Assets Under Management (AUM) to a record $22.2 billion⁴, principally driven by real estate acquisitions, along with securing Arrow’s management rights, the latter adding $0.4 billion of AUM.

Jason Huljich, Centuria Joint CEO, said, “Centuria has continued to scale its real estate platform across traditional and alternative markets with a focus on sizeable trophy assets. Collectively, acquisitions totalled $1.2 billion, demonstrating the Group’s ability to match investor preferences with value-add opportunities.

“Notably, the Group launched Australia’s largest single asset industrial fund, underpinned by the Port Adelaide Distribution Centre; acquired Australia’s largest hydroponic glasshouse in Two Wells, South Australia; and secured its first Sydney CBD office asset in 10 years to seed our largest single asset fund to date.”

During FY26, Centuria reported a record 729,000 sqm of leasing activity across 18% of its total net lettable area (NLA). Positive like-for-like revaluation movements generated approximately $0.2 billion of AUM uplift across its real estate platform.

During the second half of FY26, Centuria secured an additional $300 million of liquidity through a fully underwritten equity raise to provide flexibility to accelerate its AI infrastructure growth, neocloud capability and to expand the Group’s funds management platform as Centuria focuses on larger scale real estate acquisitions. The equity raise contributes to $445 million in cash and undrawn debt⁴.

Centuria’s liquidity, coupled with its low 5.1% operating gearing⁶, provides support to the Group’s growth strategy.

Post 30 June 2026, Centuria and ResetData (the latter being 50% owned by Centuria), signed a Master Services Agreement (MSA) with CDC Data Centres, commencing with an initial allocation of 7MW and a Letter of Intent supporting an increase to 10MW – revenue is anticipated from 2H 2027.

Additionally, 72MW of power generation units were secured for delivery in 2028 with multi-site optionality within Centuria’s identified 250MW+ pipeline, bringing forward deployment timelines. Fast-tracking this long-lead-time infrastructure, together with the potential to accelerate a further 30MW of power capacity, brings forward deployment timelines by approximately two years.

The Group also executed a strategic Memorandum of Understanding (MOU)⁷ with an investment-grade customer to potentially procure c.2MW of capacity in Centuria-owned data centre facilities.

Mr McBain continued, “Centuria commenced FY27 with the capital and platform to execute our future growth objectives. Our aim is to continue growing AUM through this cycle, implementing our strategy towards larger real estate acquisitions as evident by the recent completion of the $454 million Sydney CBD Prime Office Fund.

“Moreover, we have strong conviction in the opportunity set the ResetData joint venture presents us within the data centres and AI infrastructure environment. This will also require the deployment of capital in the near term to create a pathway for future revenue ramp up.”

Mr Huljich added, “We’ve progressed our digital and AI infrastructure, providing a runway to scale ResetData. Structural demand rising from AI adoption, along with prevailing supply constraints due to limited power-ready sites, means Centuria is well-position to unlock value in this transforming market.”

The Group’s private credit arm, Centuria Bass Credit (CBC), increased its AUM during the period to $2.6 billion (FY25: $2.3 billion). At 30 June 2026, its diversified loan book comprised 94%⁸ of first mortgage security, a gross average loan-to-value ratio (LVR) of 67%⁸ and 93%⁸ residential exposure. The loan book remains highly diversified with commitments across construction (38%), bridge (37%) and residual stock (23%) spanning a range of facility types.

Mr McBain and Mr Huljich concluded, “Looking ahead, we forecast increased revenues in FY27 as we grow into our larger capital base. We believe the full impact of increased earnings arising from the increased capital base will be witnessed in the second half of FY27 and particularly in FY28.

“Our strategy to acquire larger real estate assets and grow Group AUM, coupled with the ability of our balance sheet to progress ResetData’s capacity to secure further customers and scale revenue, is intended to accelerate growth in earnings in the medium term.”

Based on prevailing market conditions remaining stable, Centuria provides FY27 ONPAT guidance of $130 million, an expected 14% increase from growth in core real estate earnings, and ResetData continuing to rollout powered AI capability, thereby securing revenue generating customers.

Centuria provides FY27 OEPS guidance of 13.0cps and distribution guidance of 10.4 cps.

1. Operating EPS is calculated based on the Operating NPAT of the Group divided by the weighted average number of securities.
2. Operating NPAT of the Group comprises of the results of all operating segments and excludes non-operating items such as transaction costs, fair value movements in derivatives and investments, the results of Benefit Funds, Controlled Property Funds, Centuria Bass Credit SPVs, share of equity accounted net profit in excess of distributions received and all other non-operating activities
3. Includes $702m of acquisitions exchanged and settled in FY26 and $521m acquisitions exchanged yet to be settled. Excludes $444 million of AUM from securing Arrow management rights.
4. Assets under management (AUM) as at 30 June 2026. All figures above are in Australian dollars (currency exchange ratio of AU$1.000:NZ$1.2166 as at 30 June 2026). AUM includes assets exchanged to be settled, cash and other assets and the impact of revaluations during the period.
5. As at 30 June 2026
6. Gearing ratio is calculated based on (operating borrowings less operating cash), divided by (operating total assets less operating cash less the net of investment properties, non-recourse loans, interest rate swaps and variance in market value to proportionate net assets).
7. The Memorandum of Understanding is non-binding and subject to the negotiation and execution of binding commercial agreements.
8. Aggregated by funds, syndicated deals and warehouse facility managed by Centuria Bass Credit and is not representative of any single fund or offering.