Carindale Property Trust (CDP) H1 2026 earnings summary

Executive summary

• Owns a 50% interest in Westfield Carindale, a major Brisbane retail destination with 14 million annual visitors and $1,122.7 million in retail sales, up 3.1% year-over-year.

• Completed 43 leasing deals in the half-year, maintaining 99.9% occupancy.

• Statutory profit reached $30.2 million, including a $12.2 million unrealised property revaluation gain.

• Funds from Operations (FFO) rose 11.2% to $16.2 million for the half year ended 31 December 2025.

• Net operating cash flow was $15.4 million, with gross rent collections of $35.9 million.

Financial highlights

• Property revenue rose to $32.2 million from $30.2 million year-over-year.

• Net tangible assets per unit rose to $7.00 (from $6.78 at 30 June 2025).

• Distribution for the period was $12.4 million or 14.9415 cents per unit, up 5.0% year-over-year.

• Property valuation increased 1.6% to $1,600.6 million (Trust/CDP share: $800.3 million) as of 31 December 2025.

• Net profit attributable to members was $30.2 million, up from $19.1 million year-over-year.

Outlook and guidance

• Distribution guidance for FY26 is 29.883 cents per unit, representing 5.0% growth, subject to stable operating conditions.