• Operating earnings of $178.6 million, or 25.0 cents per security
• Distributions of 25.0 cents per security
• Net tangible assets (NTA) of $4.59 per security

Charter Hall Long WALE REIT (CLW) has announced its full year results for the period ending 30 June 2025 (FY25). The REIT reported operating earnings of $178.6 million, or 25.0 cents per security, and distributions of 25.0 cents per security. The REIT's net tangible assets (NTA) stood at $4.59 per security, with statutory earnings of $118.3 million. The portfolio achieved 3.0% like-for-like Net Property Income (NPI) growth and maintained a high occupancy of 99.9% with a weighted average lease expiry (WALE) of 9.3 years. During the year, the REIT completed $338.8 million of net property divestments and $222.9 million of net property acquisitions post balance date, which are expected to be portfolio enhancing and accretive to future operating earnings. The REIT also refinanced $310 million of debt, extending the maturity by 2.8 years, and entered into $715 million of new interest rate swaps to reduce interest rate volatility. Looking ahead, the REIT provides FY26 operating earnings per security guidance of 25.5 cents and distribution per security guidance of 25.5 cents, representing a 6.1% distribution yield.

Based on information currently available and barring any unforeseen events, CLW provides FY26 operating earnings per security guidance of 25.5 cents and distribution per security guidance of 25.5 cents.

The REIT's earnings outlook has returned to a growth trajectory, with operating earnings forecast to increase as we move into FY26. The REIT offers a distribution yield that is materially above the average yield of the ASX 200 A- REIT index, and its asset and income profile is well positioned as we move into the next recovery phase of the valuation cycle.