• Statutory profit up 167.7% to $3.7 million
• Operating profit down 13.2% to $4.1 million
• Fully franked dividend of 2.0cps in line with HY24

360 Capital Group (ASX: TGP) is pleased to announce its financial results and operational update for the 6 months ended 31 December 2024. The Group is in a unique position as the only Australian real estate manager with both an ASX listed equity REIT and mortgage REIT, and is focused on growing its funds management platform. Over the past 6 months, the Group has established the foundations for this growth strategy, with a focus on growing real estate credit across its listed and unlisted funds, while equity investing has lagged due to the Australian commercial real estate market nearing the bottom of its correction cycle. Key financial highlights include a statutory profit attributable to securityholders of $3.7 million, up 167.7%, and an operating profit of $4.1 million, down 13.2%. The Group also declared a fully franked dividend of 2.0cps, in line with HY24. In the real estate credit segment, the Group underwrote $43.5 million of loans which were subsequently sold down to its mortgage REIT and private credit fund. In the real estate equity segment, the Group's flagship REIT, 360 Capital REIT (ASX:TOT), has continued to improve its capital position and stabilize its capital structure. The Group also increased its ownership in TOT from 39.1% to 42.1%. Corporately, the Group remained disciplined and well-capitalized, with $100.7 million in cash as at 31 December 2024. The Group intends to undertake an off-market buyback of up to 44.6 million securities at a fixed price of $0.65 per security, a 10.2% premium to the last closing price.

The Group is forecasting that dividends/distributions will be higher than previously guided, now targeting 3.0 - 3.5cps for FY25, with any transactional activity in 2H25 providing upside to the bottom end of the range.

The Group is presented with a great opportunity to scale its funds management activities, creating value for its fund investors and the Group's co-investment. The Group's focus for the remainder of FY25 is to continue to grow its real estate credit activities and potential acquisitions to grow its real estate equity platform.