Macquarie Technology Group shares lift amid 22nd consecutive half of EBITDA growth
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The news: Macquarie Technology Group has seen its shares lift after reporting 9% EBITDA growth compared to the previous corresponding period, what the company says is its 22nd half-year period uplift.
Macquarie Technology also reported half-year net profits fell 9% from the year prior, in line with guidance, as it delivered on revenue growth and accelerates its data centre capacity.
The numbers: At 3:59pm AEDT, shares in Macquarie Technology Group had lifted 1.9% to $68.11.
Macquarie Technology’s revenue came in at $193.4 million for the first half, up 5% from 1H25, while group EBITDA came in at $57.9 million, a 3% increase on 1H25.
However, the company’s earnings per share and net profit after tax both dropped 9% to 63.4 cents per share and $16.3 million.
The company said capital expenditure was $142.1 million for the first half, driven by growth capex of $123.7 million (including $120.9 million for its IC3 SuperWest project in Macquarie Park), customer growth capex of $11.4 million and maintenance capex of $7 million.
Macquarie Technology reported operating cashflow of $42.2 million in 1H25 and maintains an undrawn debt facility of $393 million to fund further investments.
The context: The data centre operator said the results marked its twenty-second consecutive half of EBITDA growth and that 95% of the group’s first-half revenue came from contracted monthly recurring revenue.
Macquarie Technology is pursuing its data centre expansion pipeline, adding that the construction of its IC3 SuperWest project remains on budget and on time, with phase one expected to be completed by September this year. The company said its newly secured $50 million debt facility will allow it to expedite capacity delivery beyond IC3’s initial 6 megawatts by acquiring long lead-time equipment to boost capacity to 19MW out of a planned 47MW.
What they said: Speaking to Capital Brief CEO David Tudehope said “it’s a rare and beautiful thing to get 20 consecutive halves” of earnings growth. “It’s almost unheard of on the stock market, so clearly it’s not luck.”
Tudehope said that the strategy that the company put in place more than a decade ago in hindsight, “look entirely obvious but were not at the time, we recognised that the data centre will become the centre of a data network”.
He later noted that the company is seeing “strong demand” from cloud customers and AI companies as well as “emerging demand” from neoclouds mainly from those “offshore looking to do things in Australia”.
Looking forward, Tudehope said the business is eager to increase its support for Australian government defence industry and uplifting cybersecurity offerings to public sector customers.
“There’s an opportunity to do much more in the space of developing new products that will help corporate and government customers use AI, and lot of that’s around cybersecurity and protecting the data to make sure they can actually use it,” Tudehope said.
“But in particular, the Commonwealth Government has sensibly recognised that the defence industry needs to uplift their cybersecurity…which in 2026 means, how can they add AI to the way they respond and manage cybersecurity?”
The source: ASX
