Qualitas Limited (ASX:QAL) has released the Chair's Address, Group Managing Director's Address, and accompanying presentation delivered at its 2026 Annual General Meeting, held on 13 November 2026, commencing at 2:00pm AEDT, with the company disclosing FY27 normalised earnings guidance alongside a medium-term Australian funds management EBITDA margin target.

Key Points

  • Chair's Address, Group Managing Director's Address, and AGM presentation released on 13 November 2026
  • FY27 normalised NPBT guidance of between $74 million and $80 million disclosed
  • FY27 normalised EPS guidance of between 17.2 cents per share and 18.6 cents per share disclosed
  • Medium-term target of an Australian funds management EBITDA margin above 60% stated, described as a target only and not guidance
  • Committed funds under management of approximately $11.6 billion as at 30 June 2026

2026 Annual General Meeting Addresses and Presentation

Qualitas Limited filed the Chair's Address, Group Managing Director's Address, and AGM presentation with the ASX on 13 November 2026, in accordance with ASX Listing Rule 3.13.3. The meeting commenced at 2:00pm AEDT. The filing states that a recording of the AGM will be made available after the meeting. The release was authorised by the Board of Directors of the company. Qualitas describes itself as an ASX-listed Australian alternative real estate investment manager, with areas of focus including real estate private credit, opportunistic real estate private equity, income producing commercial real estate, and build-to-rent residential.

FY27 Normalised Earnings Guidance

According to the filing, Qualitas has disclosed FY27 normalised net profit before tax guidance of between $74 million and $80 million, and FY27 normalised earnings per share guidance of between 17.2 cents per share and 18.6 cents per share. The filing notes that guidance excludes any mark-to-market movements for Qualitas' co-investment in QRI, QRI capital raising costs, or the occurrence of other unforeseen events. The EPS guidance is based on the total number of ordinary shares on issue as at 20 August 2026, which the filing states is subject to change. Guidance assumes no adverse change in current market conditions.

Medium-Term EBITDA Margin Target and Deployment Pipeline

The filing discloses a medium-term target of an Australian funds management EBITDA margin above 60%, which Qualitas explicitly describes as a target only and not guidance, noting there is no guarantee it will be achieved and that outcomes depend on market conditions, deployment, and realisation of AI-enabled efficiencies. The filing also references forward-looking statements regarding Qualitas' deployment pipeline, including the proportion that is closed or investment committee approved, expected deployment certainty for the first half of FY27, and lower loan-to-value ratios and wider margins observed across investments under evaluation. Committed funds under management stood at approximately $11.6 billion as at 30 June 2026.