Goodman swings to profit as revenue rises 17%, eyes data centre growth

(Alliance News) - Goodman Group Ltd on Thursday reported strong annual revenue growth and returned to profit in financial year 2025, with the company now eyeing future growth from data centres.

The Sydney-based industrial property and digital infrastructure company swung to an attributable net profit of AUD1.67 billion, approximately USD1.07 billion, in the year ended June 30 from a AUD98.9 million loss a year earlier. The company reported diluted earnings per share of 84.4 Australian cents, compared with a diluted loss per share of 5.2 cents previously.

Revenue increased 17% to AUD2.31 billion from AUD1.98 billion, while property and development expenses surged 42% to AUD790.1 million from AUD556.1 million.

Other expenses, meanwhile, declined 14% to AUD757.0 million from AUD884.1 million.

The return to profit was partly the result of Goodman reporting a net result from equity accounted investments of AUD1.10 billion, compared with a loss of AUD796.7 million last year.

The company grew its total portfolio by 8.8% to AUD85.6 billion, with portfolio occupancy now at 96.5%.

Goodman kept its total dividend stable at 30 Australian cents, with a final payout of 15 cents.

Total equity increased 33% to AUD23.31 billion from AUD17.54 billion.

Chief Executive Officer Greg Goodman said: "We have looked beyond the volatility in the economic and trade environment over the last 12 months, and actively pursued long-term growth opportunities. These include making a number of strategic site acquisitions that will enable us to meet growing demand for data centres and capture future growth in logistics demand across our metropolitan locations.

"Goodman is in a strong position heading into FY26 and is well placed for long-term growth, supported by the significant data centre opportunities in the near term and the group's financial capacity and flexibility."

In financial year 2026, the company is targeting 9% operating earnings per share growth.

Goodman shares were down 1.5% at AUD35.60 in Sydney on Thursday afternoon.

By Elijah Dale, Alliance News senior reporter Asia-Pacific

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