Centuria Capital Group (CNI) H1 2025 earnings summary

Executive summary

• Assets under management (AUM) stood at AUD 20.5 billion as of HY25, reflecting divestments and market revaluations, with significant growth in alternatives and real estate finance.

• Operating NPAT rose to AUD 51.1 million, with operating EPS at 6.2cps and DPS at 5.2cps, while statutory NPAT declined to AUD 14.3–14.8 million due to non-operating items and negative mark-to-market movements.

• ResetData acquisition and AI Factory launch position the group as an early mover in data centre and AI infrastructure, with the first AI Factory nearing completion.

• Total transaction activity reached AUD 1.9 billion, including robust capital raising from both listed and unlisted investors.

• Revenue increased to AUD 229.4 million, driven by higher management and financing fees, but offset by negative mark-to-market movements and higher finance costs.

Financial highlights

• Operating earnings rose 3–3.6% to AUD 51.1 million, with operating EBITDA at AUD 74.3 million and net asset value per security at AUD 1.75.

• Statutory NPAT fell to AUD 14.3–14.8 million, impacted by negative mark-to-market movements and higher finance costs.

• Operating EPS was 6.2cps, with an interim distribution of 5.2cps, both up from the prior period.

• Balance sheet gearing at 14.5%, with look-through gearing at 38.5%.

• Over AUD 300 million in cash and undrawn debt facilities available at period end.

Outlook and guidance

• FY25 operating EPS guidance reaffirmed at 12.0cps and distribution guidance at 10.4cps, with EBIT growth of over 20% targeted for the credit division.

• Management expects rapid reopening of unlisted real estate securitisation markets and increased transactional volumes.

• Strategic focus on scaling real estate, expanding Centuria Bass Credit, and rolling out AI Factory/data centre pipeline.

• Plans for two sector-specific REITs and a credit listed investment trust in FY26, subject to market conditions.