• Operating earnings of $196.4 million, OEPS of 41.5 cents
• Statutory earnings post-tax of $61.1 million
• Distribution per security of 23.4 cents
• $1.6 billion of gross equity allotted, $4.1 billion of gross transactions

Charter Hall Group (ASX: CHC) today announces its 1H FY25 results for the 6 month period ending 31 December 2024. The company reported operating earnings of $196.4 million, reflecting operating earnings per security (OEPS) post-tax for the half of 41.5 cents. Statutory earnings post-tax were $61.1 million, and the distribution per security was 23.4 cents. The company saw $1.6 billion of gross equity allotted, including $451 million in Wholesale Pooled Funds, $1.0 billion in Wholesale Partnerships, and $102 million in Direct managed funds. Gross transactions during the period amounted to $4.1 billion. Funds under management (FUM) increased to $83.4 billion, including $66.4 billion of Property FUM and $17 billion of listed equities FUM at Paradice Investment Management (PIM). The company's property investment portfolio was valued at $2.8 billion, with a 97% occupancy rate, a weighted average lease expiry (WALE) of 7.1 years, and a weighted average rent review (WARR) of 3.2%. Development activity continues to drive modern asset creation, with $0.8 billion in completions over the last 12 months and a $13.3 billion development pipeline. The company has also made progress on its sustainability goals, with more than a 70% reduction in Scope 1 and Scope 2 absolute emissions compared to its FY17 baseline and 83MW of solar installed across the platform.

Based on no material change in current market conditions, FY25 earnings guidance has been upgraded to 81.0 cents per security for post-tax operating earnings per security, representing 6.9% growth over FY24. FY25 distribution per security guidance is for 6% growth over FY24.

The company sees current market pricing as offering attractive long-term returns for stabilised core real estate products and expects capital deployment to accelerate to take advantage of market conditions as the upward cycle gathers pace. The company is well positioned to deliver for its investor and tenant customers as Australia's population and economy continue to grow.