• Revenue down 14.4% to $57.2 million
• Loss from ordinary activities up 43.92% to $13.8 million
• Core Earnings down 102.1% to a loss of $8.9 million
• No interim distribution declared

Elanor Investors Group, a stapled entity comprising Elanor Investors Limited and Elanor Funds Management Limited, has reported its financial results for the half year ended 31 December 2025. Revenue from ordinary activities decreased by 14.4% to $57.2 million, while loss from ordinary activities after tax attributable to security holders increased by 43.92% to $13.8 million. Core Earnings, which represent the Directors' view of underlying earnings from ongoing operating activities, declined by 102.1% from a loss of $4.4 million to a loss of $8.9 million. No interim distributions were declared during the half-year ended 31 December 2025 and 31 December 2024. The Group's strategic focus is to strengthen its balance sheet, simplify the business to focus on core real estate sectors, and execute cost management initiatives to drive profitability in the funds management platform. The Group has entered into a binding agreement with Rockworth Capital Partners to invest up to $125 million to recapitalize the business, stabilize the balance sheet, and reduce gearing. This strategic alliance is expected to provide the balance sheet flexibility to enable Elanor to execute a growth strategy while continuing to actively manage the real estate assets of its capital partners. The Group has also unwound its investment management arrangements with Challenger and will focus on managing the jointly owned retail and hotel assets until they are divested.