Abacus Group
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Abacus Group (ABG) investor relations material

Abacus Group H1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2026 earnings summary23 Feb, 2026

Executive summary

  • Portfolio valued at AUD 2.6 billion as of 31 December 2025, with a weighted average cap rate of 6.81%.

  • Statutory net profit after tax was $47.6 million for HY26, up from a loss last year, with FFO at $40.1 million, nearly flat year-over-year.

  • Office and retail leasing spreads increased, with office up 7.2% and retail up 5.3%.

  • Portfolio simplification continued, with ~$75 million in non-core asset sales exchanged.

  • Interim distribution of 4.25 cents per security declared, in line with guidance.

Financial highlights

  • Total operating earnings for the period were AUD 80.4 million, down 2% on HY 2025 due to lower surrender fees and asset divestments.

  • FFO per security was 4.49cps, and distribution per security was 4.25cps, with a payout ratio of 95%.

  • Average cost of debt reduced to 4.5% from 5.1% in HY 2025.

  • Gearing at 34.5%, below the 40% ceiling, with over AUD 200 million in acquisition capacity.

  • Net cash flows from operating activities increased to $42.9 million from $24.5 million year-over-year.

Outlook and guidance

  • Affirmed FY 2026 distribution guidance of AUD 0.085 per security, maintaining payout ratio of 85%-95% of FFO.

  • Guidance assumes no material deterioration in business conditions and continued management of the Storage King stake.

  • Second half earnings influenced by leasing success, development management fees, and maintenance CapEx.

  • No near-term refinancing requirements; hedging at 81% provides protection against interest rate volatility.

  • Targeting assets with long-term, sustainable outcomes and improved FFO.

ASK management internalization impact on ABG
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Frequently asked questions

Abacus Group is a diversified real estate investment trust (REIT) with a primary focus on the storage and office property sectors. The company has a strategic interest in commercial properties and is actively involved in acquiring and developing properties for its storage business. In addition to these primary sectors, Abacus Group also has minor interests in other subsectors, such as retail property. The company is headquartered in Sydney, New South Wales, Australia, and its shares are listed on the Australian Securities Exchange.

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