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Abacus Group reports $81.2M FY26 FFO
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Abacus Group reports $81.2M FY26 FFO

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  • Abacus Group reported funds from operations of $81.2 million for FY26, down 1.9% from FY25.
  • The company recorded a statutory net loss of $74.5 million due to non-cash accounting adjustments.
  • Abacus Group completes the internalisation of Abacus Storage King to focus on commercial real estate.

Abacus Group (ASX:ABG) delivered funds from operations of $81.2 million for the full year ended June 30 as it transitioned into a pure-play commercial real estate trust.

The result marked a 1.9% decrease from the previous financial year, while net tangible assets fell 7.6% to $1.59 per security.

Office operating earnings of $89.6 million, down 3.2% on FY25, a result of positive leasing spreads of 5.5% and rent reviews of 3.6%.

"With gearing within the target range, strong liquidity and the benefits of a strong annuity income stream, we are focused on improving free cash flow, strengthening the balance sheet and supporting the group's disciplined capital allocation priorities as a focused commercial REIT," stated Abacus Group CFO Evan Goodridge.

The group posted a statutory net loss of $74.5 million following the non-cash reclassification of its Abacus Storage King investment to fair value.

The group's retail portfolio delivered like-for-like operating earnings of $30 million in FY26, an increase of 4.5% on FY25, supported by positive leasing outcomes, rental growth and continued high occupancy levels.

Management issued FY27 distribution guidance of 6.70 cents per security, down from the 8.50 cents per security distributed in FY26. Following the announcement, the Abacus Group share price was up at $0.90.

The company's office portfolio generated operating earnings of $89.6 million, supported by positive leasing spreads of 5.5%.

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