BWP Trust (BWP) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, thank you for holding and welcome to the BWP Half Year Results Investor Briefing. Your lines will be muted during the briefing. However, you will have an opportunity to ask questions immediately afterwards and instructions will be provided on how to do this at that time. I would now like to hand the call over to the Managing Director of BWP, Mr. Mark Skatina. Thank you and good morning everyone and thanks for joining us. My name is Mark Scatina, Managing Director of BWP, and I'm joining you from Perth. With me today is Andrew Ross, Head of Property, and David Hawkins, our Chief Financial Officer. Today we're pleased to present BWP Group's results for the half-year ending 31 December 2025. BWP is released to the OSEC this morning. It's half-year results announcement, half-year report incorporating the 4D and investor briefing presentation. I'll now take you through the key aspects of the presentation before we take questions. Turning to slide three. To commence today, we acknowledge the traditional owners of country throughout Australia and their continuing connection to lands and waterways upon which we depend. We pay our respects to their elders past and present. Turning to slide six and portfolio highlights. The half year result reflects continued progress across BWP strategic pillars of portfolio optimisation, profitable growth and portfolio renewal. Portfolio optimisation outcomes were underpinned by the completion of management internalisation and progress on the Bunnings lease reset, resulting in an extension of the portfolio weighted average lease expiry to 7.5 years, an increase of 3.1 years on the prior corresponding period. Like-like rental growth of the 12 months to 31 December 2025 was 2.6%, supported by strong leasing outcomes in th...