Vicinity Centres (VCX) Q3 2026 earnings summary

Executive summary

• 3Q FY26 saw resilient retailer confidence, high occupancy at 99.6%, and positive leasing spreads of +5.1%.

• Portfolio retail sales rose +3.4% year-over-year, with specialty sales productivity at ~$13,500psm.

• Chatswood Chase's new luxury precinct opened with strong visitation and positive feedback; 95% of the precinct to be open by June 2026.

• Galleria redevelopment is on track for a pre-Christmas opening, with over 75% leased.

• Divestment of three non-core assets completed, supporting ongoing investment strategy.

Financial highlights

• FY26 FFO and AFFO per security expected at the top end of guidance: 15.0–15.2 cents and 12.8–13.0 cents, respectively.

• Distribution payout expected within 95–100% of AFFO.

• Retailer debt remains low and occupancy cost ratio is sustainable at 14.3%.

Outlook and guidance

• FY26 FFO and AFFO guidance reaffirmed at the top end of the range.

• Full-year distribution payout to remain within the 95–100% AFFO target.