Harmoney Corp Limited (ASX:HMY), Kina Securities Limited (ASX:KSL) and DigiCo Infrastructure REIT (ASX:DGT) operate across digital consumer lending, banking and wealth management, and data centre infrastructure. Their 2026 disclosures provide updated information on earnings, lending activity, funds management, data centre development and the operating priorities that may shape the remainder of 2026 and FY2027.

The companies are linked by increasing use of digital infrastructure but have different Earnings models. Harmoney uses an automated lending platform across Australia and New Zealand, Kina provides banking and wealth services in Papua New Guinea, while DigiCo owns and develops data centres in Australia and North America.

2026 Operating Context

Interest rates remain relevant to lenders and capital-intensive infrastructure businesses. Funding costs influence consumer lending margins, while borrowing expenses and discount rates affect data centre development and asset valuations.

Credit conditions also remain important for lenders. Changes in employment, borrower repayment capacity and wholesale funding markets can affect lending volumes and Credit losses.

Data centre Demand is influenced more directly by cloud computing, artificial intelligence, enterprise workloads and government requirements. Development activity is also dependent on power availability, grid connections, construction capacity and Capital expenditure.

Harmoney Corp Limited (ASX:HMY)

Business Profile

Harmoney operates a fully digital consumer lending Business across Australia and New Zealand. The company provides secured and unsecured personal loans using its Stellare platform for credit assessment, pricing and Loan servicing.

Its earnings are primarily generated from interest income on its lending portfolio, with Warehouse facilities used to fund loan growth.

FY2026 Performance

For the year ended 30 June 2026, Harmoney reported cash net profit after tax of NZD 13.5 million and statutory net profit after tax of NZD 10.2 million.

Total income was NZD 145.0 million, while net Operating Income reached NZD 39.7 million.

The group loan book stood at NZD 889 million at the end of FY2026.

Net interest Margin was 10.2%, while the Risk-adjusted income margin was 6.4%. The cost-to-income ratio was 17.8%.

Credit losses represented approximately 3.9% of average gross loans.

The company did not declare a Dividend for FY2026.

Harmoney has provided FY2027 cash NPAT guidance of at least NZD 16 million.

Its FY2027 priorities include further loan-book expansion, customer retention, embedded finance opportunities and continued use of automation across lending processes.

Risks

Credit performance remains one of Harmoney's main risks. An increase in Unemployment or deterioration in household finances could affect arrears and loan losses.

Wholesale funding expenses may also move independently of Central Bank policy rates and influence net interest margin.

The group operates across Australia and New Zealand, creating currency exposure when results are translated between NZD and AUD.

Growth in the loan book also requires lending standards to remain consistent as origination volumes increase.

What Investors May Monitor Through the Rest of 2026

Loan-book growth, originations and net interest margin may provide information on Harmoney's operating position through the remainder of the year.

Credit losses and arrears will remain important measures as the company expands lending.

Progress toward FY2027 cash NPAT guidance of at least NZD 16 million may also indicate how effectively additional lending is translating into earnings.

Kina Securities Limited (ASX:KSL)

Business Profile

Kina Securities operates a banking and Wealth Management business in Papua New Guinea. Kina Bank provides retail and commercial banking, home lending, trade finance, foreign exchange and digital banking services.

Kina Wealth Management provides services including Superannuation administration, Investment management and stockbroking.

The company reports on a calendar-year basis, making its most recent financial result the six months ended 30 June 2026.

1H 2026 Performance

Kina reported net profit after tax of PGK 59.7 million for the first half of 2026.

Earnings per share were 20.3 toya, while net interest margin was 5.8%.

Operating costs were PGK 159.6 million.

Funds under administration within the wealth business reached PGK 25.1 billion, while funds under management stood at PGK 14.4 billion.

Capital adequacy was 26% following the group's Tier 2 bond issuance.

The cost of credit risk was 0.2%, while provision coverage represented 2.6% of gross loans. The comparable non-performing loan ratio was 8.9%.

Kina declared an Interim Dividend of 14.2 toya per share.

Risks

Kina's operations are concentrated in Papua New Guinea, meaning earnings are exposed to local economic conditions, regulation and currency movements.

Depreciation of the PNG kina against the Australian dollar can affect the translated value of earnings and dividends for Australian shareholders.

Foreign exchange availability and controls can also influence banking activity.

Credit quality remains relevant given the reported non-performing loan ratio, while changes in government security yields may affect banking margins.

What Investors May Monitor Through the Rest of 2026

Resolution of the card interoperability issue may provide information on recovery in payment-related activity.

Loan growth, net interest margin, foreign exchange income and credit quality may also remain important measures during the second half.

The timing of major PNG resources investment, including developments relating to Papua LNG, could influence the broader economic environment in which Kina operates.

DigiCo Infrastructure REIT (ASX:DGT)

Business Profile

DigiCo Infrastructure REIT owns and develops data centres across Australia and North America. Its portfolio contains operating Assets as well as facilities undergoing expansion and development.

The Australian portfolio includes data centre infrastructure in Sydney, Adelaide, Brisbane and Townsville.

Demand is linked to cloud computing, artificial intelligence, enterprise workloads and government digital infrastructure requirements.

FY2026 Performance

DigiCo reported FY2026 underlying Revenue of AUD 239 million and underlying EBITDA of AUD 127 million.

Adjusted funds from operations were AUD 71 million.

Net Debt stood at approximately AUD 1.6 billion, while gearing was 39%, within the group's target range of 35% to 45%.

Available Liquidity was AUD 706 million.

FY2026 distributions totalled 12.0 cents per security.

Portfolio Strategy

DigiCo is restructuring its portfolio around its Australian data centre platform while progressing planned asset sales in the United States.

The proposed US transactions are expected to provide additional capital for Australian development projects and reduce gearing following completion.

The Sydney SYD1 expansion is one of the group's principal development projects. The initial 20-megawatt upgrade has been completed, while a further 52 megawatts of planned capacity is supported by customer letters of intent.

DigiCo is also progressing a planned 15-megawatt expansion at ADL1 in Adelaide.

FY2027 Outlook

DigiCo has guided to FY2027 underlying EBITDA of AUD 120 million to AUD 125 million including a partial contribution from CHI1.

Excluding CHI1, underlying EBITDA guidance is AUD 110 million to AUD 115 million.

FY2027 Capital Expenditure is expected to be between AUD 300 million and AUD 500 million, with spending concentrated on development activity.

The REIT has also guided to FY2027 distributions of 15.0 cents per security.

Risks

Development execution is a key risk because data centre projects require significant capital expenditure and depend on construction timelines, power availability and customer commitments.

The planned US asset sales also create transaction and settlement risks until proceeds are received.

Customer letters of intent are not equivalent to completed leases, meaning planned capacity does not automatically translate into contracted revenue.

Debt and capital expenditure requirements remain relevant while the group undertakes its development programme.

What Investors May Monitor Through the Rest of 2026

Completion of the planned US asset sales may provide further information on DigiCo's funding position and pro forma gearing.

Conversion of customer letters of intent into contracted capacity at SYD1 will be another important operating measure.

Development progress, capital expenditure and additional customer commitments may also influence the trajectory of the Australian platform.

Risks to Watch

Harmoney faces consumer credit and funding risks. Higher arrears or loan losses could affect profitability, while changes in warehouse funding costs could influence lending margins.

Kina faces risks associated with PNG economic conditions, currency movements, foreign exchange availability and borrower credit quality. Technology and payment-system disruptions can also affect transaction activity.

DigiCo faces development, financing and execution risks. Its expansion programme requires substantial capital, while project Economics depend on customer demand, power availability and timely construction.

Interest rates remain relevant across all three businesses. Harmoney is exposed through wholesale funding, Kina through banking margins and economic conditions, and DigiCo through debt costs and infrastructure investment.

Outlook Through the Rest of 2026

Harmoney enters FY2027 after reporting cash NPAT of NZD 13.5 million and a loan book of NZD 889 million. Loan growth, credit performance and progress toward FY2027 cash NPAT guidance will determine the next phase of its digital lending strategy.

Kina enters the second half of calendar 2026 focused on banking activity, wealth management growth and resolution of its payments interoperability issue. PNG lending conditions and major resources investment may influence the broader operating backdrop.

DigiCo is focused on recycling capital from US assets into Australian data centre development. Asset-sale completion, SYD1 contracting and execution of its development programme will remain central to its FY2027 position.

The three businesses therefore enter the remainder of 2026 with different priorities: Harmoney is focused on digital lending growth, Kina on banking and wealth activity in Papua New Guinea, and DigiCo on expanding data centre capacity.