• Solid revenue and earnings growth driven by portfolio expansion, rental growth and cost discipline
• Significant growth pipeline in place with over 800 units in development
• New all-age rental segment taking shape, complementing the core seniors' rentals business
• Disciplined capital allocation and capital partnerships to drive further scale and earnings growth

Eureka Group Holdings Ltd has reported solid 1H26 results, with revenue up 19.7% to $27.0 million and underlying EBITDA up 11.2% to $9.1 million. The company's portfolio of seniors' and all-age rental communities continues to grow, with assets under management increasing 29% to $454 million. The seniors' rentals business maintains high occupancy of 97% and stable, CPI-linked rental growth, while the all-age rentals segment is rapidly scaling, with occupancy of 86% and average rents of $685 per fortnight. Eureka is focused on disciplined capital allocation, acquiring assets below replacement cost and driving operational efficiencies to support earnings growth. The company has a significant development pipeline of over 800 units, which will be delivered through a modular construction approach to accelerate the lease-up process. Eureka is also establishing capital partnerships to add a recurring fee-based earnings stream and support faster portfolio growth. Overall, Eureka is well-positioned to continue scaling its affordable rentals platform and delivering sustainable earnings growth.

Eureka is on track to deliver FY26 guidance of 7.5%-10% growth in revenue and 20%-25% growth in underlying earnings per share.

Eureka is targeting 5,100+ units in the medium term, with same-store rent growth of 5%-7% p.a. and an underlying EPS CAGR of 12.5%-17.5% p.a. The company will achieve this through a combination of developing its pipeline, acquiring new assets, and leveraging capital partnerships to accelerate growth.