CLW 2026 Half Year Results

• Operating earnings of $90.6 million, up 2.0%
• Distributions of 12.75 cents per security
• Net tangible assets of $4.68 per security, up 2.0%

Charter Hall Long WALE REIT (ASX: CLW) has announced its half-year results for the period ending 31 December 2025 (1H FY26). The REIT reported operating earnings of $90.6 million, or 12.75 cents per security (cps), representing a 2.0% growth compared to the prior corresponding period. Distributions were also 12.75 cps. Net tangible assets (NTA) increased by 2.0% from 30 June 2025 to $4.68 per security. Statutory earnings increased by 209% compared to the prior corresponding period, reaching $153.6 million. The portfolio maintained a high occupancy of 99.9% and a weighted average lease expiry (WALE) of 9.2 years. During the period, the REIT completed $376 million of net property transactions, including $455 million of acquisitions and $79 million in asset divestments. Over 86% of the portfolio was independently valued, resulting in a net valuation uplift of $139 million or 2.8%. The REIT's balance sheet remains strong, with gearing of 29.8% and look-through gearing of 41.0%. The REIT also completed $701 million of accretive debt initiatives and entered into $1.1 billion of new interest rate hedging.

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

The REIT's portfolio benefits from a high proportion of CPI and CPI+ linked rental escalators, and with 49% of the REIT comprising triple-net leased assets, including more than 35% in the Convenience Net Lease retail sector, the outlook for CLW remains favourable.