• Operating earnings of $89.8 million, or 12.5 cents per security
• Distributions of 12.5 cents per security
• Net tangible assets of $4.62 per security
• 3.5% like-for-like Net Property Income growth
• Portfolio WALE of 9.7 years and 99.8% occupancy

Charter Hall Long WALE REIT (CLW) has announced its results for the six months ending 31 December 2024 (1H FY25). Key highlights include operating earnings of $89.8 million, or 12.5 cents per security, and distributions of 12.5 cents per security. The REIT's net tangible assets stood at $4.62 per security, with statutory earnings of $51.3 million. The portfolio delivered 3.5% like-for-like Net Property Income growth, and maintained a weighted average lease expiry (WALE) of 9.7 years and 99.8% occupancy. During the half-year period, CLW completed $300.4 million in asset divestments, including the sale of the Inghams portfolio and its 50% stake in the Australian Red Cross property in Sydney. The REIT also acquired two Endeavour Group-leased, long WALE hospitality assets for $11.5 million. CLW's $5.5 billion diversified portfolio had 82% independently valued, with a net valuation movement of a 0.3% reduction. The REIT's balance sheet remains strong, with gearing of 31.8% and $266 million in cash and undrawn debt. Moody's has reaffirmed CLW's Baa1 investment grade rating. Based on current information, CLW reaffirms its FY25 operating earnings per security guidance of 25.0 cents and distributions per security guidance of 25.0 cents.

CLW reaffirms its FY25 operating earnings per security guidance of 25.0 cents and distributions per security guidance of 25.0 cents.