Carindale Property Trust (CDP) H2 2025 earnings summary

Executive summary

• Funds From Operations (FFO) grew 7.8% year-over-year to $29.7 million for the 12 months ending 30 June 2025.

• Statutory profit reached $39.2 million, including an unrealised property valuation increase of $15.7 million.

• Net operating cash flow was $30.5 million, with gross rent collections of $69.3 million.

• Distribution for the year was $23.3 million, or 28.46 cents per unit, up 5.0% and in line with guidance.

• Customer visits totaled 14 million, and annual retail sales rose 2.9% to $1,106.0 million.

Financial highlights

• Property independently valued at $1,576 million (CDP share: $788 million), up 2.9% due to net operating income growth.

• Net tangible assets stood at $6.78 per unit as of 30 June 2025.

• Gearing was 26.7%, with interest rate hedging increased to 86% at an average base rate of 2.7%.

Outlook and guidance

• Distribution for the year ending 30 June 2026 is expected to be 29.883 cents per unit, representing 5.0% growth, subject to no material change in the operating environment.