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Highlights
- Eureka Group reported AUD 22.56 million in revenue for 1H FY25, up 11% YoY, driven by rental growth and asset acquisitions.
- The company signed an AUD 3.5 million acquisition of Barrier Reef Tourist Park and appointed CEO Simon Owen as Managing Director to lead future growth.
- The company targets 11% EBITDA growth and 2.6% EPS growth in FY25, supported by a pipeline of acquisitions and asset recycling strategy.
Eureka Group Holdings Limited (ASX:EGH) is an ASX-listed company that offers independent rental accommodation to retirees, who are supported by the Australian Government pension. In the half-year ended 31 December 2024 (1HFY25), the company reported a total revenue of AUD 22.56 million, reflecting an 11% year-on-year (YoY) increase from AUD 20.27 million in 1HFY24. This growth was underpinned by rising resident demand, rental growth, and recent asset acquisitions, which collectively added AUD 4.6 million in portfolio value.
The company’s underlying EBITDA rose 16% YoY to AUD 8.17 million in 1HFY25, compared to AUD 7.06 million in the prior corresponding period, while the EBITDA margin increased to 28.5% YoY, compared to 27.5% in 1HFY24. Statutory NOAT remained stable at AUD 6.4 million due to property revaluations. During the reported period, Eureka announced a final dividend of 0.73 cents per share.
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