Kiwi Property Group Ltd (NZSE:KPG)

Half Year 2026 Kiwi Property Group Ltd Earnings Call Transcript

Nov 23, 2025 / 09:00 PM GMT

Transcript

Key Points

Positve

Kiwi Property Group Ltd (KWIPF) achieved strong leasing outcomes with a total rental movement up 3.5% despite a challenging market.
The company successfully extended ASB's lease at North Wharf through to 2040, providing long-term certainty.
Rosado, a built-to-rent asset, was 99% leased at the end of the period, indicating strong demand.
The opening of New Zealand's first Ikea adjacent to Sylvia Park is expected to drive additional customer activity.
Kiwi Property Group Ltd (KWIPF) is progressing with the sale of large format retail land, which will provide capital for reinvestment.

Negative

Sales across the total portfolio were marginally lower, down by 0.6% over the last 12 months.
The valuation of Kiwi Property Group Ltd (KWIPF)'s assets decreased by 0.9% over the last six months.
The economic climate and reclassification of specialty stores have impacted specialty sales per square meter.
There are outstanding conditions for the settlement of Drury land sales, including infrastructure development and international tenant approvals.
The company's net tangible assets per share decreased by 2% from $1.14 to $1.12.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

KPG.NZ - Kiwi Property Group Ltd
Half Year 2026 Kiwi Property Group Ltd Earnings Call
Nov 23, 2025 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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You.

Good day and thank you for standing by. Welcome to Kiwi Property FY26 interim results. At this time, all participants are a listen-only mode.

After the speaker's presentation, there will be a question-and-answer session.

To ask a question during the session, you'll need to press star 11 on your telephone keypad.

You will then hear an automated message advising your hand is raised.

To withdraw your question, please press 11 again.

Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Clive McKenzie, Chief Executive Officer, and Steve Penny, CFO from Kiwi Property. Please go

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