Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Non-Executive Director Angus McNaughton was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Non-Executive Director Angus McNaughton was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Feb 18
Vicinity Centres Announces Actual Ordinary Distribution for the Six Months Period Ended December 31, 2025, Payable on March 12, 2026 Vicinity Centres Announced actual, ordinary distribution of AUD 0.06200000 per share for the six months period ended December 31, 2025, payable on March 12, 2026. Record date is on February 24, 2026 with Ex date is on February 23, 2026. Buy Or Sell Opportunity • Jan 08
Now 20% undervalued Over the last 90 days, the stock has risen 3.8% to AU$2.62. The fair value is estimated to be AU$3.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to decline by 5.3% per annum. Earnings are also forecast to decline by 3.9% per annum over the same time period. Tillkännagivande • Oct 02
Vicinity Centres to Report Fiscal Year 2026 Results on Aug 19, 2026 Vicinity Centres announced that they will report fiscal year 2026 results on Aug 19, 2026 Declared Dividend • Aug 22
Final dividend increased to AU$0.06 Dividend of AU$0.06 is 2.5% higher than last year. Ex-date: 25th August 2025 Payment date: 16th September 2025 Dividend yield will be 4.6%, which is lower than the industry average of 5.7%. Tillkännagivande • Aug 21
Vicinity Centres, Annual General Meeting, Nov 06, 2025 Vicinity Centres, Annual General Meeting, Nov 06, 2025. Reported Earnings • Aug 20
Full year 2025 earnings released: EPS: AU$0.22 (vs AU$0.12 in FY 2024) Full year 2025 results: EPS: AU$0.22 (up from AU$0.12 in FY 2024). Revenue: AU$1.33b (up 1.4% from FY 2024). Net income: AU$1.00b (up 84% from FY 2024). Profit margin: 76% (up from 42% in FY 2024). Revenue is expected to fall by 4.6% p.a. on average during the next 3 years compared to a 3.5% decline forecast for the Retail REITs industry in Australia. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Tillkännagivande • Aug 20
Vicinity Centres to Report First Half, 2026 Results on Feb 18, 2026 Vicinity Centres announced that they will report first half, 2026 results on Feb 18, 2026 Board Change • Aug 18
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non-Executive Director Angus McNaughton was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • May 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Significant insider selling over the past 3 months (AU$1.4m sold). Board Change • May 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non-Executive Director Angus McNaughton was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 04
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non-Executive Director Angus McNaughton was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 24
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Director Angus McNaughton was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Oct 16
Vicinity Centres to Report Fiscal Year 2025 Results on Aug 20, 2025 Vicinity Centres announced that they will report fiscal year 2025 results on Aug 20, 2025 Buy Or Sell Opportunity • Sep 20
Now 23% undervalued Over the last 90 days, the stock has risen 20% to AU$2.27. The fair value is estimated to be AU$2.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 7.9% per annum. Earnings are forecast to grow by 6.5% per annum over the same time period. Tillkännagivande • Sep 11
Vicinity Centres Announces Retirement of Clive Appleton from the Board, Effective 29 October 2024 Vicinity Centres announced the retirement of Mr. Clive Appleton from the Vicinity Board, having served as a representative of Gandel Group since 2018. Mr. Appleton's retirement from the Board will take effect from the conclusion of the AGM to be held on 29 October 2024. Tillkännagivande • Aug 22
Vicinity Centres Declares Distribution for the Six-Month Ended June 30, 2024, Payable on September 16, 2024 Vicinity Centres Declares Distribution of AUD 0.05900000 for the Six-Month Ended June 30, 2024, Payable on September 16, 2024. Ex date is August 23, 2024. Record date is August 26, 2024. Declared Dividend • Aug 22
Final dividend of AU$0.059 announced Shareholders will receive a dividend of AU$0.059. Ex-date: 23rd August 2024 Payment date: 16th September 2024 Dividend yield will be 5.3%, which is lower than the industry average of 5.7%. Tillkännagivande • Aug 22
Vicinity Centres (ASX:VCX) acquired 50% stake in Lakeside Joondalup Shopping City from Lend Lease Real Estate Investments Limited for AUD 420 million. Vicinity Centres (ASX:VCX) acquired 50% stake in Lakeside Joondalup Shopping City from Lend Lease Real Estate Investments Limited for AUD 420 million on August 19, 2024. The transaction is being funded by a mix of existing debt facilities and asset divestment proceeds.
For the period ending December 31, 2023, Lakeside Joondalup Shopping City reported total revenue of AUD 800 million. Simon Rooney of CBRE brokered the transaction.
Vicinity Centres (ASX:VCX) completed the acquisition of 50% stake in Lakeside Joondalup Shopping City from Lend Lease Real Estate Investments Limited on August 19, 2024. Reported Earnings • Aug 21
Full year 2024 earnings released: FFO per share: AU$0.1 (vs AU$0.15 in FY 2023) Full year 2024 results: FFO per share: AU$0.1 (down from AU$0.15 in FY 2023). Revenue: AU$1.31b (up 6.6% from FY 2023). Funds from operations (FFO): AU$664.6m (down 2.9% from FY 2023). FFO margin: 51% (down from 56% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 5.3% p.a. on average during the next 3 years, while revenues in the Retail REITs industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Tillkännagivande • Apr 24
Vicinity Centres to Report First Half, 2025 Results on Feb 18, 2025 Vicinity Centres announced that they will report first half, 2025 results on Feb 18, 2025 Declared Dividend • Feb 18
First half dividend increased to AU$0.059 Dividend of AU$0.059 is 1.7% higher than last year. Ex-date: 20th February 2024 Payment date: 7th March 2024 Dividend yield will be 5.9%, which is about the same as the industry average. Buy Or Sell Opportunity • Jan 25
Now 20% undervalued Over the last 90 days, the stock has risen 14% to AU$1.95. The fair value is estimated to be AU$2.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 1.8% per annum. Earnings are forecast to grow by 15% per annum over the same time period. Buying Opportunity • Jan 18
Now 21% undervalued Over the last 90 days, the stock is up 10%. The fair value is estimated to be AU$2.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 2.9% per annum. Earnings is forecast to grow by 15% per annum over the same time period. Tillkännagivande • Nov 01
Vicinity Centres, Annual General Meeting, Oct 29, 2024 Vicinity Centres, Annual General Meeting, Oct 29, 2024. Tillkännagivande • Sep 27
Vicinity Centres to Report Fiscal Year 2024 Results on Aug 20, 2024 Vicinity Centres announced that they will report fiscal year 2024 results on Aug 20, 2024 New Risk • Aug 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 22% Last year net profit margin: 101% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (22% net profit margin). Reported Earnings • Aug 17
Full year 2023 earnings released: FFO per share: AU$0.1 (vs AU$0.13 in FY 2022) Full year 2023 results: FFO per share: AU$0.1 (up from AU$0.13 in FY 2022). Revenue: AU$1.23b (up 2.7% from FY 2022). Funds from operations (FFO): AU$684.8m (up 14% from FY 2022). FFO margin: 56% (up from 50% in FY 2022). Revenue is forecast to decline by 5.1% p.a. on average during the next 3 years, while revenues in the Retail REITs industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Aug 16
Vicinity Centres to Report First Half, 2024 Results on Feb 15, 2024 Vicinity Centres announced that they will report first half, 2024 results on Feb 15, 2024 Tillkännagivande • Jun 02
Nikos Property Group Pty Ltd. agreed to acquire 50% stake in Broadmeadows Central from Vicinity Centres (ASX:VCX) for approximately AUD 130 million. Nikos Property Group Pty Ltd. agreed to acquire 50% stake in Broadmeadows Central from Vicinity Centres (ASX:VCX) for approximately AUD 130 million on June 1, 2023. Vicinity will continue to provide centre management and leasing services at Broadmeadows Central. The sale is expected to settle on 30 June 2023. Board Change • Mar 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. MD, CEO & Director Peter Huddle was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 16
First half 2023 earnings released: FFO per share: AU$0.08 (vs AU$0.063 in 1H 2022) First half 2023 results: FFO per share: AU$0.08 (up from AU$0.063 in 1H 2022). Revenue: AU$628.2m (up 4.9% from 1H 2022). Funds from operations (FFO): AU$357.1m (up 24% from 1H 2022). FFO margin: 57% (up from 48% in 1H 2022). Revenue is forecast to stay flat during the next 3 years compared to a 4.1% decline forecast for the REITs industry in Australia. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Tillkännagivande • Feb 15
Vicinity Centres Announces Dividend on VCX- Fully Paid Ordinary/Units Stapled Securities for the Financial Reporting or Payment Period Ended 31 December 2022, Payable on March 7, 2023 Vicinity Centres announced dividend of AUD 0.05750000 per security on VCX - Fully Paid Ordinary/Units Stapled Securities for the financial reporting or payment period ended 31 December 2022. Ex date on February 20, 2023. Record date on February 21, 2023. Payment date on March 7, 2023. Tillkännagivande • Feb 09
Vicinity Centres, Annual General Meeting, Nov 01, 2023 Vicinity Centres, Annual General Meeting, Nov 01, 2023. Tillkännagivande • Feb 03
Vicinity Centres Appoints Peter Charles Huddle to the Board Vicinity Centres appointed Peter Charles Huddle to the board. Date of appointment: 1 February 2023. Tillkännagivande • Feb 01
Vicinity Centres to Report Fiscal Year 2023 Results on Aug 16, 2023 Vicinity Centres announced that they will report fiscal year 2023 results on Aug 16, 2023 Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. Non-Executive Director Clive Appleton was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Oct 28
Vicinity Centres to Report Q2, 2023 Results on Feb 14, 2023 Vicinity Centres announced that they will report Q2, 2023 results on Feb 14, 2023 Reported Earnings • Aug 19
Full year 2022 earnings released: FFO per share: AU$0.1 (vs AU$0.12 in FY 2021) Full year 2022 results: FFO per share: AU$0.1 (up from AU$0.12 in FY 2021). Revenue: AU$1.20b (up 5.6% from FY 2021). Funds from operations (FFO): AU$598.3m (up 7.1% from FY 2021). FFO margin: 50% (in line with FY 2021). Over the next year, revenue is expected to shrink by 26% compared to a 23% decline forecast for the REITs industry in Australia. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Non-Executive Director Clive Appleton was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Non Executive Director Mark Bloom was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Non Executive Director Mark Bloom was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 22
Full year 2021 earnings released: FFO AU$0.12 per share (vs AU$0.14 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$1.14b (up 3.9% from FY 2020). Funds from operations (FFO): AU$558.8m (up 7.4% from FY 2020). FFO margin: 49% (up from 48% in FY 2020). Net asset value (NAV) per share: AU$2.17 (down 6.9% from FY 2020). The current share price is 27% lower than NAV per share. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Executive Departure • Jul 14
Chief Financial Officer Nicholas Schiffer has left the company On the 1st of July, Nicholas Schiffer's tenure as Chief Financial Officer ended after 1.8 years in the role. We don't have any record of a personal shareholding under Nicholas' name. Nicholas is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.50 years. Upcoming Dividend • Dec 23
Upcoming Dividend of AU$0.034 Per Share Will be paid on the 2nd of March to those who are registered shareholders by the 30th of December. The company last paid an ordinary dividend in December 2019. The average dividend yield among industry peers is 3.7%. Is New 90 Day High Low • Dec 04
New 90-day high: AU$1.73 The company is up 25% from its price of AU$1.39 on 04 September 2020. The Australian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.35 per share. Is New 90 Day High Low • Oct 30
New 90-day low: AU$1.24 The company is down 4.0% from its price of AU$1.29 on 31 July 2020. The Australian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.47 per share. Is New 90 Day High Low • Oct 06
New 90-day high: AU$1.45 The company is up 9.0% from its price of AU$1.32 on 08 July 2020. The Australian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the REITs industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.42 per share.