Key Highlights

  • Macquarie Technology (ASX:MAQ) closed at $49.86 on 6 November 2026, down 5.25%, while the S&P/ASX 200 Info Tech index fell 0.78%.
  • FY26 EBITDA rose 2.0% to $115.9 million, marking twelve consecutive years of EBITDA growth.
  • The NRFC is investing A$200 million in the group, and the Macquarie Park site adds capacity of about 268MW in total.

Macquarie Technology Group Ltd (ASX:MAQ) closed at $49.86 on 6 November 2026, down 5.25% for the trading session. The S&P/ASX 200 Info Tech index (XIJ) closed at 1,783.50, down 14.10 points or 0.78%. The S&P/ASX 200 finished at 9,020.80, up 0.49%, and the All Ordinaries closed at 9,144.70, up 0.66%. Macquarie Technology owns and operates data centres in Sydney and other Australian locations through its Macquarie Data Centres business.

Latest Developments

FY26 Full-Year Results (26 August 2026)

Macquarie Technology released its results for the year ended 30 June 2026 on 26 August 2026, which the company said were in line with guidance. EBITDA was $115.9 million, up 2.0% on $113.6 million in FY25. Operating Cash Flow was $94.6 million, a cash conversion of 108%. The company said 95% of its Revenue came from contracted monthly recurring revenue.

Capital expenditure was $230.5 million, including growth capex of $193.3 million, of which $186.2 million related to the IC3 SuperWest project. The company said IC3 SuperWest construction remains on track and on budget.

NRFC Investment and Site Acquisition (26 August 2026)

The Australian Government invested $200 million through the National Reconstruction Fund Corporation in the form of perpetual, callable, subordinated and non-convertible securities. The first $100 million series was drawn on 1 June 2026, with the second due by 1 March 2027. The company also completed the acquisition of a 34,200 square metre site in Macquarie Park on 6 August 2026, which underpins a proposed 200MW campus. Total capacity is estimated at about 268MW, of which 265MW is in Sydney's Tier 1 Northern Zone.

About the Company

Macquarie Technology operates data centres and provides connectivity and cloud services, mainly through its Macquarie Data Centres business. Its facilities are designed for enterprise, government and cloud customers. The company funds growth through a mix of debt, hybrid securities and government investment.

Sector Context

Data centres depend on power supply, land, construction capacity and long-term contracts with customers. Demand for cloud, AI and cyber security services has increased interest in sovereign data centre capacity in Australia. Financing costs and Depreciation rise as projects are built, which the release said affects earnings per share.

Risks to Watch

The company noted that its data centre investments raise financing and depreciation costs, which affect EPS. Large construction programs carry execution risk, and delays or cost increases could affect returns.

Power availability and approvals for the proposed Macquarie Park campus will be important for the timing of new capacity.

Catalysts on Watch

The second $100 million NRFC series due by 1 March 2027, progress on IC3 SuperWest and the development of the Macquarie Park campus are the main items to follow. Future half-year results will also show whether earnings growth continues.

Closing Remarks

Macquarie Technology delivered its twelfth consecutive year of EBITDA growth, while its capital program grew. Its shares closed at $49.86 on 6 November 2026, down 5.25%, a larger decline than the Info Tech benchmark's fall of 0.78%. Future updates will show how the build-out progresses.