Centuria Industrial REIT fy24 Financial Performance Report

Centuria Industrial REIT (ASX: CIP) has released its full-year financial results for 30 June 2024. Financial highlights include AU$109.3 million in Funds from Operations (FFO), a 1% increase from the previous year, with consistent guidance of 17.2 cents per unit for FFO and a distribution unit of 16.0 cents. The Net Tangible Assets amount to AU$3.87 per unit, supported by a 34.0% pro forma gearing and 93% debt hedged.

The REIT achieved 6.5% like-for-like Net Operating Income growth, with vigorous leasing activity leading to AU$120 million in divestments at a 4% premium to book value. The portfolio holds 89 assets valued at AU$3.8 billion, with a 97.1% occupancy rate and a weighted average lease expiry of 7.6 years. FY25 projections include an FFO of 17.5 cents per unit and a 16.3 cents per unit distribution.

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