Goodman Group (ASX:GMG) Releases Q3 FY25 Operational Update
Financial Performance
Goodman Group maintains its forecast for FY25 Operating EPS growth at 9% and confirms a full-year distribution of 30cps. The Group reported a like-for-like annual net property income (NPI) growth of 4.5% on properties in its partnerships.
Operational Highlights
As of 31 March 2025, the Group has $13.7 billion of development work in progress (WIP) across 66 projects, with data centres representing over 50% of WIP. The portfolio occupancy stands at 96.5%, supported by an $85.8 billion total property portfolio.
Development Update
Goodman is strategically acquiring large-scale sites to capitalise on market conditions, supported by substantial liquidity of $6.3 billion. The Group is well positioned to support growing data centre demand with a globally diverse portfolio and a 5GW power bank in low latency metropolitan areas.
Executive Comments
Greg Goodman, Group CEO, stated, “Long-term structural demand drivers are intact, however, the uncertain economic and trade environment is delaying customer decisions in the logistics space. Desire for modern, sustainable, logistics facilities in central locations, where automation can improve productivity continues. Space is scarce in our markets, and supply in our locations remains limited. In the data centre space, we continue to see significant capex growth from hyperscale operators as they work to meet rising demand for cloud and AI services. With a globally diverse portfolio of identified development opportunities and a 5GW power bank concentrated in low latency, metropolitan areas, the Group is well placed to support these growing requirements.”
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group. The Motley Fool Australia has recommended Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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