Goodman Group (GMG) investor relations material

Executive summary

• Operating profit for FY26 was $2,675 million, up 15.7% year-over-year, with statutory profit at $2.78 billion and operating EPS rising 10.1% to 129.9 cents.

• Strategic repositioning focused on digital infrastructure, industrial property, and data centres, with over AUD 8 billion in asset sales and recycling into development pipeline.

• Development work in progress reached $19.7 billion, up 53%, with 78% related to data centres and strong customer demand in supply-constrained metro markets.

• Portfolio value reached $89 billion, with 95.6% occupancy and nearly $20 billion in work in progress.

• Strong capital position with $6.4 billion in liquidity and gearing at 6.5%.

Financial highlights

• Operating profit: $2,675 million (+15.7% YoY); statutory profit: $2,778.7 million (+67% YoY); operating EPS: 129.9 cents (+10.1% YoY).

• Net tangible assets per security: $11.79, up 7% year-over-year.

• Development earnings up 34% to $1,792.2 million; property investment earnings up 7% to $722.1 million.

• Management earnings: $690.1 million, down 18% YoY due to lower performance fees.

• Total portfolio at $89 billion, with $75.4 billion in external assets under management.

Outlook and guidance

• Targeting FY27 operating EPS growth of 9%+ and distribution of 30.0 cents per security.

• Positioned to capture demand for digital infrastructure, especially data centres and large-scale logistics.

• Expecting continued strong demand for power-intensive facilities and further growth in WIP.

• Development earnings expected to remain a key contributor, with management fees projected at 0.9% of third-party stabilized AUM.

• Earnings for FY27 expected to be skewed to the second half due to project timing.