Key points
- FFO grew by 4.4% to $612 million for H1 2026
- Full year FFO guidance upgraded to at least 23.79 cents per security
- Distribution guidance for 2026 upgraded to 18.473 cents per security
Full summary
Scentre Group Limited, owner of Westfield shopping centers, reported a 4.4% increase in Funds from Operations (FFO) to $612 million for the first half of 2026. The company also upgraded its full year FFO guidance to at least 23.79 cents per security, representing at least 4.25% growth. Distribution guidance for 2026 has been upgraded to 18.473 cents per security, representing growth of 4.25%. The company welcomed 347 million customer visitations year-to-date, up 3.5% from the prior comparable period. Business partners' sales grew by 4.2% for the 12 months to 30 June 2026, reaching a record $30.3 billion. The company completed 1,401 leasing deals, achieving average releasing spreads of +3.7%. Occupancy remained at its highest level in more than a decade at 99.8%. Westfield membership grew to 5.2 million, up 11% from the prior comparable period. The company is progressing on several redevelopment projects across its Westfield destinations and has a significant pipeline of potential dwellings.
Guidance
Full year 2026 FFO guidance at least 23.79 cents per security
Outlook
The Group's strategy is to grow economic activity at Westfield destinations, broaden businesses partnering with them, and unlock growth from strategic land holdings to deliver sustainable long-term growth in earnings and create significant long-term value.