DigiCo REIT Holds 2026 AGM, Reports $127m Underlying EBITDA and 52MW SYD1 Expansion Progress

Mukul

11 November 2026 12:32 PM AEDT

DigiCo REIT Holds 2026 AGM, Reports $127m Underlying EBITDA and 52MW SYD1 Expansion Progress

Image Source: Krish Capital Pty Ltd

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DigiCo REIT (ASX:DGT) held its 2026 Annual General Meeting on 11 November 2026, disclosing underlying EBITDA of $127 million for the period — above its $125 million guidance — alongside an update on the accelerated 52MW expansion of its SYD1 data centre project and a leadership transition that appointed Simon Mitchell and Ralph Goninan as Co-Heads effective 21 August 2026.

Key Points

Underlying EBITDA of $127 million, above guidance of $125 million, with distributions declared of 12.0 cents per security, in line with guidance.
Simon Mitchell and Ralph Goninan appointed Co-Heads of DGT effective 21 August 2026, retaining their roles as CFO and Chief Development Officer respectively.
The first 20MW at SYD1 completed on time and on budget; the 52MW expansion is targeted for progressive delivery over FY27 and FY28, with full 88MW project completion targeted by the end of FY28.
Pro-forma net debt reduced from $1.6 billion to approximately $0.5 billion and gearing from 39% to 18% following the sale of CHI1 and LAX assets, with pro-forma liquidity of approximately $1.2 billion.
A 71MW contract with a global technology firm secured at SYD1, with investment grade credit support.

FY26 Financial Results and Distributions

According to the filing, DigiCo REIT delivered underlying EBITDA of $127 million for its first full year, exceeding the company's guidance of $125 million. Distributions declared totalled 12.0 cents per security, consistent with guidance. The company disclosed that the sale of its CHI1 and LAX assets reduced net debt from $1.6 billion as at 30 June 2026 to approximately $0.5 billion on a pro-forma basis, and reduced gearing from 39% to 18%. Pro-forma liquidity was disclosed at approximately $1.2 billion, incorporating cash, senior undrawn debt facilities, and anticipated net equity sale proceeds from US asset sales, with the SYD1 88MW project described as fully funded with no new equity required.

SYD1 88MW Development Milestones and Delivery Timeline

The filing states that the first 20MW at SYD1 was completed during FY26, with Laing O'Rourke appointed as integrated delivery partner for the 52MW expansion. A fixed-price lump sum design and construction contract for the 52MW expansion was executed with Shape Australia. The first 10MW of the expansion is targeted to be operational in late Q4 FY27, with the balance of the 52MW expansion to be delivered progressively over FY28. The full 88MW project is targeted for completion by the end of FY28. Planning approval has been secured and power and water access confirmed, according to the filing.

Leadership Transition and Australian Growth Pipeline

Simon Mitchell and Ralph Goninan were appointed Co-Heads of DigiCo REIT effective 21 August 2026, retaining their existing responsibilities as Chief Financial Officer and Chief Development Officer respectively. The filing disclosed a 71MW contract with a global technology firm, with investment grade credit support, at SYD1. In addition to SYD1, the company disclosed an ADL1 brownfield expansion project to deliver an additional 15MW of IT capacity, with advanced customer discussions underway. The filing also referenced a greenfield development pipeline with incremental IT capacity of 1GW or more across other greenfield opportunities.

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