Strategic Execution Strengthens Vicinitys FY25 Performance

Vicinity Centres (ASX: VCX) delivered a strong FY25 result, with Funds from Operations (FFO) per security at the top end of guidance, reflecting disciplined execution and robust portfolio performance. Statutory NPAT rose to AU$1,004.6 million, supported by a 1.4% lift in FFO to AU$673.8 million and a final distribution of AU$0.12 per security, representing a healthy payout ratio. Strategic capital management remained a key focus, with gearing at 26.6%, the lower end of the target range, enabling continued investment in growth.

Notably, the acquisition of Lakeside Joondalup for AU$420 million and divestment of non-core assets at a premium strengthened the portfolio quality. Operationally, occupancy reached 99.5%, leasing spreads improved to +2.5%, and specialty sales grew 4.7% in 2H FY25. Major projects, including Chadstone’s revitalised Market Pavilion and the transformational Chatswood Chase redevelopment, underpin future growth. With resilient retail sales and strong tenant demand, Vicinity is well positioned to sustain earnings momentum into FY26.

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