Highlights

  • FY26 Revenue rose to A$390.0 million and EBITDA grew 2.0% to A$115.9 million, extending twelve years of EBITDA growth.
  • Net profit after tax fell 8% to A$32.1 million as interest and Depreciation costs rose with data centre investment.
  • The company completed a A$240 million Macquarie Park land purchase on 6 August 2026 for a planned 200MW campus.
  • Management expects total FY27 Capital Expenditure of A$485–506 million, including A$180–192 million for IC3 SuperWest.

Macquarie Technology Group Limited (ASX:MAQ) has described FY27 as a year of strategic investment, and the numbers behind that label are large. The Sydney-based data centre, cloud and telecommunications group expects to spend between A$485 million and A$506 million on capital projects in the year to 30 June 2027, led by its IC3 SuperWest Facility and a newly acquired site for a far bigger campus.

The plan follows FY26 results, released on 26 August 2026, that showed steady operating Earnings but lower profit.

Steady EBITDA, Softer Bottom Line

Revenue for FY26 rose 5.5% to A$390.0 million and EBITDA increased 2.0% to A$115.9 million, in line with guidance and marking a twelfth consecutive year of EBITDA growth. Interest costs jumped 64.2% to A$11.0 million, however, and net profit after tax fell 8.0% to A$32.1 million, or 124.6 cents per share. Operating Cash Flow reached A$94.6 million, a 108% conversion rate.

Cloud Services and Government was the largest contributor, lifting revenue 11.2% to A$235.6 million and EBITDA 5.5% to A$55.9 million. Data Centres grew revenue 8.9% to A$87.0 million and EBITDA 9.3% to A$40.0 million. Telecom revenue declined 6.6% to A$105.2 million and its EBITDA fell 16.7% to A$20.0 million, reflecting NBN pricing and a shift from voice to lower-margin data. No Dividend was declared for FY26.

IC3 SuperWest Moves Towards First Capacity

At the time of the August result, the core and shell of IC3 SuperWest in Macquarie Park were complete and fit-out was progressing on time and on budget. Phase 1, comprising 6MW, was expected to be completed and commissioned in September 2026, while an expedited 13MW Phase 2 is expected by June 2027, with long-lead equipment secured. The facility has a design capacity of 47MW.

Management reported that negotiations with an anchor customer were well progressed and that two of the three major hyperscalers are already Group customers.

A 200MW Campus on the Drawing Board

On 6 August 2026, the company completed its A$240 million purchase of a roughly 34,200 square metre light industrial site in Macquarie Park, to be known as the Macquarie Engineering and Technology Campus. The site could support about 200MW, with initial construction estimated for completion in late calendar 2029, subject to planning and other approvals. That lifts the Group's total data centre pipeline to about 268MW.

Funding comes from a A$500 million Debt facility, largely undrawn at 30 June 2026, and a A$200 million hybrid securities Investment from the National Reconstruction Fund Corporation, with the second A$100 million Tranche due by 1 March 2027. The company has said it will consider project finance and new long-term infrastructure investors for later stages.

FY27 Outlook and Upcoming AGM

Management expects modest Group EBITDA growth in FY27, assuming IC3 SuperWest Phase 1 revenue begins in the second half. Cloud Services and Government revenue is expected to grow modestly, while Telecom EBITDA is forecast to fall by A$2–3 million. Shareholders will meet at the Annual General Meeting on 25 November 2026 in Sydney. Shares were priced at A$50.49 on 2 November 2026, up 0.86% on the day, with a Market Capitalisation of A$1.3 billion.