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Vicinity Centres (VCX) investor relations material
Vicinity Centres AGM 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Opening remarks and agenda
Meeting opened by the Chairman, acknowledging traditional custodians and outlining the agenda, including financial review, CEO address, Q&A, and formal business items.
Hybrid meeting format enabled both in-person and online participation, with clear instructions for engagement and voting.
Notice of meeting and voting procedures were confirmed, with all resolutions to be decided by poll.
Financial performance review
Statutory net profit reached $1,004.6m for FY25, up from $547.1m in FY24, with FFO at AUD 674 million, up AUD 9 million from prior year.
Asset portfolio shifted from 51% premium in June 2022 to 66% in June 2025, reflecting strategic acquisitions and divestments.
Major asset sales raised close to AUD 460 million in H1 FY2025, exceeding the AUD 250 million target, and AUD 1 billion divested since FY2024.
Comparable net property income grew by 3.7%, led by premium assets, and portfolio occupancy improved to 99.5% as of June 2025.
Gearing reduced to 26.6% from 27.2% in June 2024, with a AUD 349 million increase in asset valuations.
Board and executive committee updates
Board composition discussed, including the Chairman, CEO and Managing Director, seven other directors, recent retirement and re-elections, with directors presenting their credentials and commitment to governance.
Succession planning, tenure, and diversity were debated, with emphasis on value and contribution over fixed terms or quotas.
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