• Revenue up 11.3% to $22.6 million
• Underlying EBITDA increased 15.7% to $8.2 million
• Profit after tax up 1.0% to $6.4 million

Eureka Group Holdings Limited has reported a half-year profit before tax of $9.21 million (2023: $9.09 million) and a profit after tax of $6.36 million (2023: $6.30 million) for the six months ended 31 December 2024. Underlying EBITDA increased by 15.6% to $8.16 million (2023: $7.06 million) and underlying profit before tax increased by 24.2% to $5.38 million (2023: $4.33 million). The growth in revenue and underlying results reflects organic growth in existing rental villages, the impact of current and prior period acquisitions and developments, and improved maintainable earnings. The Group recorded a $4.59 million net gain on change in the fair value of its investment properties, including its share of the Western Australian and Tasmanian assets. Net operating cash flow for the half-year was $1.24 million (2023: $3.77 million), which included payment of costs defending the Aspen Group Limited takeover bid and payment of annual insurance premiums earlier than in the prior year. The Group completed a $70.4 million equity raise during the half-year to fund future acquisitions and developments.

The Group expects to continue to expand its operations by growing and executing on its pipeline of opportunities in the affordable rental sector, including seniors' rental and all-age rental, through quality acquisitions, expansion of existing communities, re-purposing existing built form into rental communities, and greenfield development.

Eureka is committed to maximizing its core business of providing rental accommodation for independent seniors through the active management of existing assets, the acquisition of additional villages and units, and the realisation of development opportunities. The Group also plans to recycle capital through the divestment of non-core assets and active portfolio management.