Charter Hall Long WALE REIT FY25 profit misses analyst estimates
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The news: Charter Hall’s Long WALE REIT (CLW) listed fund has rebounded after two consecutive years of losses, but missed market consensus estimates for net-profit based on data collated by Visible Alpha.
The numbers: CLW delivered a full-year profit of $118.3 million for financial year 2025. This is better than the $510.9 million loss posted in FY24 and the $189 million loss in FY23.
But the diversified real estate investment fund also performed 39.6% worse than the expected $195.7 million net profit.
FY25 operating earnings were $178.6 million, which is 5% lower than the previous year and marginally below expectations.
Revenue meanwhile was 16.4% lower than the previous year, in part due to $338.8 million of net property divestment during the year.
Balance sheet debt worth $310 million was also refinanced and extended by 2.8 years from FY27 to FY30.
Operating earnings per share came in at 25 cents and distributions per security came in at 25 cents. This is 1 cent lower than in FY24.
The company is guiding operating earnings per share and distributions per share of 25.5 cents for FY26.
The context: For the first time, CLW had its entire portfolio independently valued in FY25, all though portfolio value remained broadly flat. Post-balance date, CLW has also completed $222.9 million of net property acquisitions.
Extension agreements were also signed with Coles and the Perth Airport Distribution Centre.
What they said: "We have successfully navigated the sharpest increase in interest rates that the market has experienced in decades," CLW fund manager Avi Anger said.
"This has been achieved through active curation of our asset portfolio, including several recent earnings accretive acquisitions, concurrent with active management of our debt book, reducing interest rate volatility for the REIT."
