• Delivered FY25 FFO guidance of 17.5cpu and FY26 distribution guidance of 16.8cpu
• Significant earnings upside remains with c.20% portfolio under-rented and 65% of leases expiring over the next 3 years
• Maintained strong balance sheet with 33.2% proforma gearing and 86% debt hedged

Centuria Industrial REIT (CIP) delivered strong FY25 results, with funds from operations (FFO) of 17.5cpu and a distribution of 16.3cpu. This reflects 5.8% like-for-like NOI growth driven by positive re-leasing spreads. The portfolio remains well-positioned, with c.20% under-renting and 65% of leases expiring over the next 3 years providing significant earnings upside. CIP achieved $140m of divestments in FY25 at an average 12% premium to book value, highlighting the substantial opportunity for future valuation growth. The balance sheet remains robust, with 33.2% proforma gearing and 86% of debt hedged. CIP is targeting zero scope 2 emissions by 2028 and has developments underway targeting 5 star Green Star ratings. Looking ahead, CIP has provided FY26 FFO guidance of 18.0-18.5cpu and a distribution guidance of 16.8cpu, representing up to 6% and 3% growth respectively.

FY26 FFO guidance of 18.0-18.5cpu, up to 6% above FY25. FY26 distribution guidance of 16.8cpu, 3% above FY25.

Significant earnings upside remains, with c.20% portfolio under-rented and 65% of leases expiring over the next 3 years. Earnings growth expected to accelerate over the medium term, with +5% p.a. average NOI growth anticipated.