Key points
- Net proceeds of $313.8 million from asset realisations
- $2.00 per security distribution in November 2024
- Statutory revenue of $158.0 million, up $154.8 million on pcp
Full summary
Global Data Centre Group (ASX: GDC) has presented its HY25 financial results, highlighting the successful completion of its asset realisation strategy. Over the past 6 months, GDC has focused on maximising value for unitholders, with all asset realisations now complete ahead of schedule. The total net proceeds realised from the three assets amounted to approximately $313.8 million, equating to $4.06 per security. Key highlights include the $175.6 million disposal of the Etix Everywhere investment in September 2024, the $154.5 million distribution to unitholders in November 2024, and the $123.9 million proceeds from the AirTrunk realisation in December 2024. Financially, GDC reported statutory revenue of $158.0 million, up $154.8 million on the prior corresponding period, and statutory net profit attributable to securityholders of $75.1 million, up $52.1 million. Statutory earnings per security (EPS) increased to 97.2 cents per share, up 67.4 cents. Cash on hand stood at $133.8 million as of 31 December 2024, with the statutory NAV decreasing from $2.40 to $1.59 per security, mainly driven by the $2.00 per security distribution.
Guidance
GDC reconfirms its previous distribution guidance range of $1.55 - $1.57 per security and is aiming to make a final distribution determination by the end of March 2025.
Outlook
GDC has now completed all asset realisations. A detailed assessment of any retention requirements and future wind-up costs of GDC (including any true up to the performance fee) is currently being undertaken by Lanrik Partners.