Highlights:

  • Eureka Group Holdings (ASX:EGH) shares were trading at AUD 0.70, trading flat during the afternoon Trading session on 20 August 2026.
  • Underlying EBITDA increased 29% to $21.7 million in FY2026, above the guidance range of $20.2 million to $21.1 million.
  • Revenue increased 24% to $56.7 million, with rental income rising 32% to $44.9 million.
  • Assets under management increased 29% to $500 million, while homes and sites grew 26% to more than 4,000.
  • FY2027 underlying Earnings Per Share guidance is at least 3.9 cents, representing at least 13% growth on FY2026.

Eureka Group Holdings Limited (ASX:EGH) has reported FY2026 results, highlighting growth in earnings, expansion of its rental portfolio, and continued Investment across its seniors and all-age rental communities.

Eureka Group Holdings shares were trading at AUD 0.70 during the afternoon trading session on 20 August 2026. Over the past year, the company’s shares remain up 25.00%. The company’s annual results showed increased underlying earnings, portfolio growth, and progress across its development pipeline.

Eureka Group Holdings operates rental communities focused on seniors and all-age residents, with a portfolio spanning multiple communities across Australia.

FY2026 Earnings Growth Exceeds Guidance

Eureka reported underlying Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) of $21.7 million in FY2026, representing a 29% increase compared with $16.9 million in FY2025.

The result was above the company’s previous guidance range of $20.2 million to $21.1 million.

Underlying profit before tax increased 23% to $14.7 million, while underlying earnings per share increased 10% to 3.45 cents per share compared with 3.13 cents per share in FY2025.

The company’s underlying EBITDA Margin increased to 38.2% from 36.8% in the prior year.

Eureka attributed underlying earnings growth to contributions from communities acquired during FY2025 and the first half of FY2026, alongside cost discipline as the platform expanded.

Revenue Growth Driven by Rental Portfolio Expansion

Statutory Revenue increased 24% to $56.7 million in FY2026, compared with $45.8 million in FY2025.

Rental income increased 32% to $44.9 million, supported by the expanded rental base from acquisitions and rental growth across the portfolio.

Net cash from Operating Activities increased 41% to $15.2 million, compared with $10.8 million in FY2025.

The statutory net profit after tax declined 17% to $16.7 million from $20.1 million, reflecting lower net valuation gains, acquisition-related allowances, and a non-recurring GST impact.

Eureka said the statutory result included a $4.3 million allowance against Transaction Costs related to certain all-age communities acquired during the year, along with a $1.7 million charge related to historical GST positions disclosed to the Australian Taxation Office.

All-Age Rental Segment Expands

Eureka continued expanding its all-age rental segment during FY2026, which management identified as a second earnings growth area for the business.

The number of all-age rental homes increased to 1,357 from 436 in FY2025.

Across the broader portfolio, Eureka increased its total number of homes and sites by 26% to more than 4,000, compared with 3,178 in FY2025.

The company now operates across 61 communities covering seniors’ rentals and all-age rentals.

Occupancy levels remained at 97% for seniors’ communities and 95% for all-age long-term rentals.

Managing Director and Chief Executive Officer Simon Owen said the company integrated seven new communities during FY2026 while continuing growth across its seniors’ portfolio.

Portfolio Growth and Development Pipeline

Assets under management increased 29% to $500 million in FY2026, compared with $388 million in FY2025.

During the year, Eureka invested $92.4 million across acquisitions, development activity, and Capital Expenditure to expand and improve its owned portfolio.

The company identified more than 800 potential new rental homes across seniors and all-age communities.

Development opportunities include modular home roll-outs at Gladstone (Kin Kora) and Emerald, along with greenfield opportunities at Kingaroy and Gladstone.

Eureka said FY2027 began with three acquisitions adding 589 homes and sites to the portfolio.

Balance Sheet and Capital Management

Eureka maintained a focus on capital management while expanding its portfolio.

Net tangible Assets per security increased 4.9% to 57.7 cents from 55.0 cents in FY2025.

Gearing increased to 31.1% from 16.5%, while the loan-to-value ratio was 34.2%, remaining below the company’s internal ceiling of 40% and bank covenant of 55%.

The company reported an Interest Cover ratio of 3.5 times against a covenant requirement of 2.0 times.

Eureka also converted its $180 million Debt facilities into Social Loans aligned with the Social Loan Principles, supporting its affordable housing and social impact objectives.

FY2027 Outlook and Dividend Update

Eureka provided FY2027 guidance for underlying earnings per share of at least 3.9 cents per share, representing at least 13% growth compared with FY2026.

The Board declared a final dividend of 0.73 cents per security, taking the full year dividend to 1.46 cents per security, unchanged from FY2025.

The dividend Record Date is 26 August 2026, with payment scheduled for 15 September 2026. The Dividend reinvestment plan will apply to the distribution.

Investor Takeaway

Eureka Group Holdings’ FY2026 results highlighted earnings growth, portfolio expansion, and increasing scale across seniors and all-age rental communities. The company exceeded its underlying EBITDA guidance while continuing investment in acquisitions, development projects, and capital initiatives.

Investors may continue to monitor portfolio expansion, development pipeline delivery, capital management, occupancy levels, and progress against FY2027 earnings guidance.