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GDI Property Group (GDI) investor relations material
GDI Property Group H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Over 32,000 sq meters leased in FY25, with 21,000 sq meters from office space, driving 20% FFO growth and a 22% increase in Property Division FFO year-over-year.
Asset recycling included the sale of Skyyards and dealership properties, with a $74 million dealership sale at a 50% premium and IKEA sale expected to deliver a 9% IRR.
Co-living JV contributed $6.5 million to FFO, achieving a 20% return hurdle and significant asset value uplift.
Leasing and fit-out strategies are expected to continue driving growth into FY26, with further dealership sales and a syndicated facility refinancing increasing the limit to $426.5 million.
Car park segment delivered a 15% profit increase, benefiting from high city patronage and no work-from-home impact in Perth.
Financial highlights
FFO per security rose to $0.0662 (6.62c), up from 5.52c last year, with total FFO at $35.6 million in FY25.
NTA per security increased to $1.20 from $1.19 year-over-year; all balance sheet assets revalued.
Gearing steady at 34%, LVR at 41%, and ICR at 2.1x, all within policy and covenant limits.
Distribution maintained at $0.05 (5.0c) per security, with guidance to continue next year.
Net profit after tax was $41.5 million in FY25, a turnaround from a $5.6 million loss in FY24.
Outlook and guidance
Leasing momentum and fit-out strategies expected to continue into FY26, with focus on operational improvements and asset recycling.
Anticipates further interest rate cuts to reduce FY26 interest expense.
Distribution policy remains conservative, with special dividends possible on large transactions.
Performance fees from Broadmeadow asset possible in 2027 or later, depending on DA process.
Next GDI Property Group earnings date
Next GDI Property Group earnings date
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