Half Year Results Announcement and Slide Presentation
| Stock | Scentre Group (SCG.ASX) |
|---|---|
| Release Time | 26 Aug 2025, 9:02 a.m. |
| Price Sensitive | Yes |
Scentre Group Delivers Strong H1 2025 Results, Upgrades FY25 Guidance
- Funds From Operations up 3.2% to $587 million
- Distribution guidance upgraded to 3.0% growth for FY25
- Strong operational performance with 340 million customer visits
Scentre Group (ASX: SCG) today released its results for the six months to 30 June 2025, reporting Funds From Operations (FFO) of $587 million (11.28 cents per security), up 3.2% from the prior corresponding period. Distributions for the first half of 2025 were $459 million or 8.815 cents per security, up 2.5%. The Group reconfirmed its target for FFO of 22.75 cents per security for 2025, representing 4.3% growth for the year. Distribution guidance for the second half of 2025 has been upgraded to 8.905 cents per security, representing 3.5% growth over the prior corresponding period. This would equate to a full-year 2025 distribution growth of 3.0%. Statutory Profit for the period was $782 million and includes an unrealised property valuation increase of $177 million. The Group's portfolio was valued at $34.7 billion as at 30 June 2025. Scentre Group's focus on creating more reasons for people to spend time at its 42 Westfield destinations in Australia and New Zealand is delivering strong operational performance, with 340 million customer visitations so far this year, an increase of 3.0% or 10 million more visits compared to the same period last year. Business partners achieved record sales of $29.3 billion in the 12 months to 30 June 2025, an increase of $719 million on the same period in 2024. Total Portfolio Net Operating Income grew by 3.7% to $1,043 million for the six months to 30 June 2025. Average specialty rent escalations increased by 4.5% and new lease spreads were +3.0% during the first six months of 2025.
Subject to no material change in conditions, the Group reconfirms its target for FFO is 22.75 cents per security for 2025, representing 4.3% growth for the year. Distribution guidance for 2025 has been upgraded for the full year to grow by 3.0% to 17.72 cents per security.
Our strategy to attract more people to our Westfield destinations and to unlock long-term growth opportunities from our strategic land holdings is expected to continue to deliver ongoing growth in earnings and distributions.