Scentre Group ( (STGPF) ) has released its Q4 earnings. Here is a breakdown of the information Scentre Group presented to its investors.
Scentre Group, a leading retail property group in Australia and New Zealand, owns and operates 42 Westfield destinations, focusing on creating vibrant community hubs and enhancing customer experiences. The company’s 2024 financial report highlights a challenging year marked by a tragic event at Westfield Bondi, yet it achieved strong financial performance with a 3.5% increase in Funds From Operations to $1,132 million and a 3.8% rise in distributions to $893 million. Key achievements include a record $29 billion in business partner sales, a 99.6% occupancy rate, and the completion of over 3,200 leasing deals. The company also advanced its $4 billion development pipeline, including significant projects at Westfield Bondi and Westfield Sydney. Looking ahead, Scentre Group remains focused on strategic growth, enhancing customer engagement, and maintaining a robust security framework to ensure safe and welcoming destinations.