What Does Scentre Group (ASX:SCG) Report About Westfield Visits and Earnings?

Sonal Goyal

28 October 2026 12:48 AM AEDT

What Does Scentre Group (ASX:SCG) Report About Westfield Visits and Earnings?

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Key Highlights

H1 2026 FFO increased 4.4% to AUD 612 million, or 11.73 cents per security.
Westfield destinations recorded 347 million visits in the first six months and 552 million over 12 months.
Scentre upgraded FY26 FFO and distribution guidance, subject to its stated assumptions.

At the time of writing on 27 October 2026, Scentre Group (ASX:SCG) was trading at AUD 3.52, down 0.28% during the session. The company operates in the Australian listed property sector, with activities that include Westfield retail destinations and related landholdings. Its latest company presentation, dated 25 August 2026, sets out the operating and financial information discussed below. The intraday trading figure is separate from the reporting date.

Half-Year Operating Result

In its 25 August 2026 announcement covering the six months ended 30 June, Scentre Group reported funds from operations of AUD 612 million, up 4.4% on the corresponding period. This equated to 11.73 cents per security. Distributions increased 4.9% to AUD 481 million, equivalent to 9.215 cents per security. Statutory profit was AUD 975 million and included an unrealised AUD 478 million increase in property valuations. The portfolio was valued at AUD 33.7 billion at 30 June 2026. The company reports statutory profit and FFO separately.

Westfield Sales and Leasing

The group recorded 347 million customer visits in H1 2026, an increase of 3.5%, or 12 million. For the 12 months ended 30 June, 42 Westfield destinations attracted 552 million visits. Business partners generated AUD 30.3 billion in sales over that year, growing 4.2% in constant currency terms, while specialty sales rose 5.4%. Occupancy was 99.8%. Across the half-year, the company completed 1,401 leasing transactions at average releasing spreads of 3.7%, with rent escalations of 5.5%.

Projects and Land Holdings

The company described a AUD 240 million redevelopment at Westfield Bondi, including dining, entertainment and lifestyle facilities scheduled to open in stages from late Q4 2026. Other work included the Westfield Penrith entertainment precinct and changes at Westfield Tuggerah. Its potential residential pipeline increased from 20,200 to 25,600 dwellings approved or in advanced planning. Named opportunities included Warringah Mall, Eastgardens, Chermside and West Lakes, each subject to individual planning and delivery processes.

Updated Guidance and Financing

Scentre raised guidance for FY26 FFO to at least 23.79 cents per security and distributions to 18.473 cents, conditional on no material change in conditions. It announced an agreement for Australian Retirement Trust to acquire a 50% interest in Westfield Mt Gravatt for gross proceeds of AUD 882.5 million, subject to competition clearance. The group reported reducing its average debt margin from 2.6% in December 2025 to 1.6% at June 2026 following refinancing and debt transactions.

About the Business and Watchpoints

Scentre owns and operates the Westfield destination portfolio in Australia and New Zealand. Income arises primarily from retail property and related customer and business-partner services. Relevant operating variables include specialty sales, occupancy, leasing spreads, debt servicing, project costs and planning approvals. The full-year FFO target, staged retail developments and residential land concepts remain identifiable company milestones. Regulatory clearance remains relevant to the announced Mt Gravatt transaction.

In its operational update, Scentre reported that Westfield membership had reached 5.2 million. At Westfield Bondi, the company outlined a planned upgraded cinema offer and entertainment facilities. These details were reported as part of its portfolio program, with opening stages and work at other centres subject to individual schedules.

Key Insights

The Scentre Group disclosures provide a record of financial performance and named operating initiatives, while the AUD 3.52 quotation reflects the separate 27 October trading session. The next company update will determine which reported programs and guidance milestones have progressed.

FAQs

Q: What was the half-year FFO?

A: AUD 612 million, up 4.4%, equivalent to 11.73 cents per security.

Q: How many Westfield centres were reported?

A: The group referred to 42 Westfield destinations across Australia and New Zealand.

Q: What is the FY26 FFO guidance?

A: At least 23.79 cents per security, subject to the conditions stated in the announcement.

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