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Goodman Group (GMG) investor relations material
Goodman Group H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Operating profit reached $2,311.2M, up 13% year-over-year, with operating EPS up 9.8%.
70% of operating earnings now generated outside Australia, reflecting global strategy.
Statutory profit was $1.7B; net tangible assets per security rose 25% to $11.03.
Raised $4B in equity to strengthen capital structure and support growth.
Maintained high occupancy at 96.5% and focused on data center development, with 57% of global WIP in this segment.
Financial highlights
Investment earnings rose 20% ($111M) year-over-year; property investment income up 20% to $677.7M.
Management revenue increased by $61M; total fee revenue at 1.3% of average stabilized third-party AUM.
Development earnings: $1,338.5M (+5% YoY); realized development earnings up by $62M.
Net borrowing costs improved by $52M, resulting in $34M net income; net interest income improved to $33.9M.
Group NTA per security: $11.03 (+25% YoY); distribution per security: 30.0 cents.
Outlook and guidance
Targeting 9% operating EPS growth for FY26, equating to over $2.6B operating profit.
Work in progress expected to exceed $15B by FY26, with data center WIP on track for 500 MW by June 2026.
Third-party stabilized AUM expected to grow, with new US and European partnerships to boost levels.
Long-term guidance for fee revenue remains above 0.9% of third-party stabilized AUM.
FY26 distribution guidance maintained at 30.0 cents per security.
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