Why Goodman Group's US$1.2bn Profit Fuels Data Centre Growth

Goodman Group has reported an operating profit of AU$1.2bn (US$846m) for the half-year period ending 31 December 2025, demonstrating strong financial performance while ramping up its data centre and logistics development pipeline. 

The company’s strategic focus on providing essential infrastructure to support the digital economy has proven successful, with numerous ongoing projects, particularly in the high-demand data centre sector.

Strong financial performance

Goodman’s financial results show robust growth and a solid foundation. The group achieved an operating profit of AU$1.2m (US$780,000), translating into operating earnings per security (OEPS) of AU$58.5 cents (US$0.41). 

Statutory profit stood at AU$824.7m (US $536.1m). These results reflect Goodman’s ability to capitalise on growing demand for logistics and data centre space, with significant investments secured from capital partners to fund ongoing developments.

The group’s gearing ratio remained low at 4.1% and liquidity was strong at AU$5.2bn (US $3.38bn), providing ample financial capacity to continue expanding its infrastructure footprint. 

Additionally, Goodman’s net tangible assets per security were valued at AU$11.18 (US$7.26) and the distribution per security was set at AU$15.0 cents (US $0.10) for the half-year, with a forecasted AU$30.0 cents (US$0.20) for the full financial year.

Strategic expansion in data centres

Data centre development is becoming an increasingly central part of Goodman’s growth strategy. Data centres now account for 73% of Goodman’s work in progress (WIP), which totals AU$14.4bn (US $9.36bn). 

With hyperscale demand for low-latency, high-connectivity facilities increasing, Goodman is well-positioned to meet the needs of this rapidly expanding sector.

Greg Goodman, Group CEO of Goodman Group says: “We’re continuing to provide high quality essential infrastructure for the digital economy in supply constrained markets... Power, sites and capital are critical to being able to service demand and provide delivery certainty for customers.”

Goodman’s global power bank has expanded to 6GW, distributed across 16 metro markets. 

The company is set to develop a total of 0.5GW of power by the end of FY26, a significant boost to its capacity to support hyperscale demand.

Key data centre developments

Several key data centre projects are currently underway, with one of the largest being the SYD01 facility in Sydney, Australia. 

This 90MW site begun construction in the first half of FY26. By the end of FY26, Goodman expects to have more than AU$14bn (US$9.1) of data centre projects in development across sites secured with power connections, either owned by the Group or in partnership with investors.

The company has also forged partnerships with major investors to fund large-scale development programmes. 

Notably, Goodman has established a AU$14bn (US$9.1bn) data centre development partnership in Europe and is set to complete a similar initiative in Australia by 2026. 

These partnerships provide the capital and expertise needed to meet surging demand for data infrastructure while sharing risk across multiple stakeholders.

Capital management and growth outlook

Goodman maintains a cautious approach to capital management, ensuring low financial leverage while continuing to expand its portfolio. 

With AU$75.2bn (US $48.88bn) in assets under management (AUM), the company has successfully raised approximately AU$7.2bn (US$5.07bn) in third-party equity over the past 18 months. 

This includes the establishment of data centre and logistics investment vehicles valued at AU$16bn (US $10.4bn), which will fund future developments.

Greg says: “Demand for digital infrastructure in our markets is expected to materially exceed supply over the foreseeable future. 

"Goodman has a significant opportunity to develop into this strong demand, given our metropolitan sites, significant power bank, strong capital position and expertise in complex infrastructure.”

Goodman’s strong financial position, paired with its extensive land bank, allows it to continue capitalising on these growth opportunities. 

The company is set to accelerate development across both data centres and logistics over the coming year, with increased construction commencements expected.

Commitment to sustainability

Sustainability remains a core focus for Goodman, with the company continuing to support its customers' environmental goals. 

Its sustainability efforts have been recognised through positive ESG ratings and it has committed significant resources to renewable energy projects. 

Goodman has installed or committed over 363MW of solar power across its global portfolio.

In addition to environmental efforts, Goodman continues to invest in community projects. The Goodman Foundation has contributed over AU$6m (US$3.9m) in the first half of FY26 to organisations providing essential infrastructure to those in need. 

The group’s staff contributions also play a pivotal role in its community support activities.

Looking ahead

As Goodman enters the second half of FY26, the company remains confident in the outlook for both its data centre and logistics sectors. 

The demand for digital infrastructure is expected to remain strong and Goodman’s strategic position – with prime metropolitan sites, significant power resources and a healthy balance sheet – gives it a competitive edge in meeting this demand.

Greg says: “The scale and locations of our powered land bank is rare. Construction-ready powered sites take many years to acquire, plan, secure power, undertake infrastructure works and ultimately deliver. We are well-positioned to build into strong demand for both logistics and data centres.”

With significant projects already underway and a pipeline of high-quality developments, Goodman is on track to meet its target of 9% growth in operating earnings per security for FY26.