Centuria Capital Group has posted statutory net profit after tax (NPAT) of $82.7 million for the 12 months to 30 June 2025 (FY24–25), marking a decline from $102.2 million in FY23–24.
According to the group, the weaker statutory result was partly due to non-operating items, including fair value moments and transaction costs, however, the company highlighted stronger operating earnings, reflecting resilience in its property funds management and credit platforms.
Operating NPAT rose to $100.8 million, up from $94.7 million in the previous financial year, while operating earnings per security increased to 12.2 cents, 4.3 per cent higher than FY23–24 and above the group’s guidance of 12 cents.
Joint chief executive John McBain said the group has benefited from an improving real estate backdrop.
“Improved market conditions have enabled Centuria to outperform on its initial FY25 earnings guidance and position the group to commence FY26 with a double-digit earnings growth forecast targeting more than $1 billion in real estate acquisitions,” he said.
The results further revealed the group’s assets under management (AUM) increased to $20.6 billion by the end of FY24–25, which included $19.7 billion in real estate. Of this, $13.7 billion was held in unlisted property funds and $6 billion across its listed platforms.
Additionally, Centuria completed $2.9 billion of real estate activity over the year, including $89 million in acquisitions.
Centuria Bass, the group’s real estate finance arm, recorded transactions totalling $628 million, lifting its AUM to $2.3 billion (up 21 per cent on FY23–24).
Meanwhile, Centuria’s unlisted platform grew into alternative sectors such as healthcare, agriculture and credit, while institutional partnerships expanded through new commitments with BGO and the upsizing of UBS’ senior secured warehouse line.
Joint chief executive Jason Huljich stated investor appetite remained strong despite higher interest rates.
“Despite the ongoing impacts of higher interest rates, the group benefited from $0.8 billion of equity inflows across investor capital raisings and institutional commitments,” Huljich said.
Moreover, Centuria reported net operating cash inflows of $128.4 million, exceeding operating NPAT, and net asset value of $1.79 per security. The group held $347 million in cash and undrawn debt at year end, with gearing steady at 12.3 per cent.
Additional liquidity of $100 million has been secured and the company expects to repay its listed redeemable notes in October.
On the group’s outlook, McBain and Huljich said: “Increased real estate transaction volumes, expanding real estate finance with new products and capital sources, and complementary revenues through AI-enabled technology are anticipated to drive earnings growth.”
They added that investor demand for both listed and unlisted vehicles is expected to support growth opportunities.
“Improved real estate market conditions and the potential for higher relative returns to our investors present a more compelling real estate investment environment,” they said. “We intend to capture investor appetite throughout FY26, by securing high-conviction assets that appeal to our retail, wholesale and institutional investor networks.”
Centuria also signalled it will continue to expand its presence in alternative real estate sectors, including healthcare and agriculture, alongside scaling its technology division to create diversified revenue streams beyond traditional property funds management.
