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Dexus Convenience Retail (DXC) investor relations material
Dexus Convenience Retail H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Delivered FY 2025 FFO and DPS of AUS 0.207 per security, slightly above guidance, with resilient income and 99.9% occupancy across 91 strategically located assets and a 7.9-year WALE.
Portfolio comprises over 90 assets valued above AUS 700 million, weighted to the eastern seaboard and major national tenants.
$38.8 million in strategic divestments improved portfolio quality and provided capacity for future growth.
NTA per security increased by AUS 0.08 (2.2%) to AUS 3.64, supported by rental growth and cap rate compression.
Glass House Mountains Northbound redevelopment on track for Feb 2026 completion, expected to enhance WALE and deliver strong returns.
Financial highlights
FY25 FFO of $28.4m, down 1.5% year-over-year due to higher debt costs and divestments, offset by 2.9% like-for-like income growth.
Distributions and FFO per security at 20.7 cps, 1.5% lower year-over-year but above guidance.
NTA per security rose to $3.64, up from $3.56 last year.
Portfolio valuation increased by $16.6m (2.3%), with average cap rate compressing 8 bps to 6.32%.
$38.8m of divestments settled at 1.8% average discount to book value.
Outlook and guidance
FY 2026 guidance targets FFO and distributions per security of AUS 0.209 (20.9 cps), up 1.2% year-on-year, supported by contracted rental increases and current interest rate expectations.
Distribution yield expected to exceed 7%, supported by strong income visibility.
Guidance assumes no capital deployment beyond Glass House Mountains northbound.
Focus remains on value-enhancing activities, including redevelopment, pipeline restocking, and growth opportunities.
- TimeTickerHeadlineOpen
- 6 FebJ
Strong growth, digital innovation, and margin expansion drive robust multi-year financial outlook. - 6 Feb004020
Operating profit rose on cost savings and high-value sales, with major US expansion underway. - 6 FebJOUT
Net sales up 31%, gross margin at 36.6%, and net loss narrowed to $3.3 million. - 6 FebPECO
Record 2025 occupancy and 7% Core FFO growth; 2026 targets 5.5% FFO growth and strong acquisitions. - 6 FebPROV
Q2 FY2026 net income rose 65% year-over-year, with higher margins and strong credit quality. - 6 FebNVDA
AI-driven digital twins and accelerated computing are set to revolutionize industrial design and manufacturing. - 6 FebCDP
2025 FFO/share rose 5.8% to $2.72, with strong leasing and investment; 2026 guidance signals more growth. - 6 FebCRI
Q1 2025 saw record revenue, a return to profit, and major new contracts in space technology. - 6 FebCRI
Net loss widened to 7.5m PLN in H1 2024 as revenue fell and R&D costs remained high. - 6 FebCRI
Net loss deepened on lower sales and higher costs, but major new contracts and restructuring are underway.
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