• Continued growth in underlying earnings with most parts of the business delivering higher revenue and earnings
• Strength and diversification of Qube's business supported growth despite challenges
• Ongoing focus on capital efficiency and asset utilisation delivered continued improvement in return on capital

Qube Holdings Ltd delivered another sound operational performance in H1 FY26, with continued growth in underlying earnings across most parts of the business. The financial performance reflects a combination of organic growth and contribution from prior and current period acquisitions. The strength and diversification of Qube's business supported growth despite inevitable challenges in the period. Qube's ongoing focus on capital efficiency and asset utilisation delivered continued improvement in return on capital (ROACE). The company's financial position and returns have also benefited from the completion of material asset sales in the period, reducing net debt with no adverse impact on future operations or earnings. Qube declared a fully franked interim dividend of 5.35 cents per share, a 30.5% increase on H1 FY25, representing a 60% payout ratio. The company also announced it had entered into a Scheme Implementation Deed with a consortium led by Macquarie Asset Management to acquire 100% of Qube's issued shares, subject to shareholder approval. Overall, Qube delivered a strong financial and operational performance in H1 FY26, demonstrating the resilience and diversification of its business model.

Qube expects continued growth in underlying earnings in FY26, with most parts of the business expected to deliver higher revenue and earnings. The company's diversified business model and focus on capital efficiency are expected to support this growth.

Qube remains focused on driving further growth and improvements in capital efficiency across its diversified business. The company is well-positioned to capitalize on opportunities in its key markets and continue delivering value for shareholders.