• Operating profit of $1,222.4 million, up 8% on 1H24
• OEPS of 63.8 cents, up 7.8% on 1H24
• $4.0 billion equity raise to fund data centre growth opportunities

Goodman Group (Goodman or Group) today released its results for the half year ended 31 December 2024. The Group delivered operating profit of $1,222.4 million, up 8% on 1H24, and operating earnings per security (OEPS) of 63.8 cents, up 7.8% on the same period last year. Statutory profit was $799.8 million. Goodman is raising $4.0 billion through a fully underwritten 'pro-rata' institutional placement and will undertake a non-underwritten Security Purchase Plan for eligible Securityholders to raise up to $400 million. The net proceeds provide the Group with greater financial flexibility to pursue growth opportunities across its logistics and data centre operations, reduce gearing in the short term, and provide working capital. The Group maintains its 9% OEPS growth forecast for FY25, which includes the impact of the equity raise. Key highlights include a total portfolio of $84.4 billion, revaluation gains of $1.0 billion, and data centres making up 46% of the development work in progress. Goodman is well positioned to capitalize on the significant data centre demand across its markets, with 0.5 GW of new data centre development projects expected to commence by June 2026 with an estimated end value of over $10.0 billion.

Goodman maintains its 9% OEPS growth forecast for FY25, which includes the impact of the issue of new securities under the Equity Raising. OEPS growth guidance would have been increased to 10% had the Equity Raising not occurred.

The global opportunity set provided by the increased demand for data centres is driving the positive outlook for the Group. With access to power on existing sites in metro locations, and proven track record in delivering complex infrastructure developments, Goodman is well-positioned to benefit from this demand. Supply remains constrained in our locations, and combined with our attractive development workbook, provides opportunities to optimise our capital allocation and support future growth - particularly in the data centre space.