Qualitas posts 28% increase in full-year net profit to $33m
Make us a preferred source
Make us a preferred source on Google
The news: Qualitas has delivered full-year net profit of $33 million, which is 28% better than in FY24, as the real estate and infrastructure-focused private credit and investment manager increased the amount of capital it deployed.
The numbers: Qualitas’ full-year net profit came in behind the market consensus estimate of $35.6 million. Revenue grew by 30% from $84 million to $109 million.
Net profit before tax came in at $53 million, a 36% year-on-year increase while fee earning funds under management increased by 28% to $8.7 billion. Earnings per share came in 35% higher at 12.3 cents per share.
Base management fees in FY25 were worth $49 million, a 31% increase compared to the previous year. The fund deployed $4.6 billion of capital in FY25, up 9% year on year, amid increased activity in the commercial real estate sector.
The total dividend declared for FY25 is 10 cents per share, an improvement on the 8 cents per share declared in FY24.
For FY26, Qualitas is guiding net profit before tax of between $60 million and $66 million. Earnings per share are expected to come in between 14 cents per share and 15.4 cents.
The context: Qualitas group managing director and co-founder Andrew Schwartz his fund is benefiting from “the global bifurcation of private credit with large institutional investors concentrating capital with a select group of trusted managers”.
He also noted that in recent months he has seen momentum in “the reallocation of private credit from the US into the APAC region”, with Australia emerging as a preferred “growth frontier due to its stable regulatory environment, structural housing undersupply, and attractive yield premiums compared to more mature markets”.
The fund anticipates continued growth in commercial real estate transaction activity as interest rates are expected to be cut further in FY26.
