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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.
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H2 2025 earnings summary20 Aug, 2025

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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Frequently asked questions

The Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Continental Europe, the United Kingdom, North America and Brazil. The Goodman Group is comprised of businesses primarily in the areas of property services, development, construction materials and building products distribution.

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