Vicinity Centres (VCX) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

and welcome to the Centres FY26 annual results briefing. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Peter Hurl, CEO and Managing Director. Please go ahead. Good morning and thank you for joining us for the vicinity centres results call for the 12 month ended 30th of June 2026. Joining me on today's call is Adrian Chai, our Chief Financial Officer. I will start today's presentation on slide five. FY26 was another year of important progress for Vicinity with discipline investment, capital allocation and operational execution reflected in our financial results, portfolio metrics and strengthened balance sheet. Our strategy remains clear to own and operate premium and differentiated retail portfolio capable of delivering superior income and value growth through cycles. The structural conditions underpinning this strategy remain in place. Retail supply per capita continues to contract, and leading discretionary retailers are prioritising high-quality, productive assets. In this context, we completed the $625 million transformation of Chatswood Chase, with the asset now home to the largest and most compelling luxury offer in New South Wales outside Sydney CBD. We have secured full ownership of Uptown. Having acquired the remaining 75% interest for $212 million, Uptown is a landmark Brisbane CBD asset with significant growth potential. We acquired DFO Eastern Creek, increasing our exposure to Western Sydney's residential growth corridor and strengthening our established outlet operating platform. and we continue to recycle capital in...