LOGISTICS company Qube has reported continued growth in underlying financial performance for the half-year ending 31 December 2025.
In a statement to the ASX, it was revealed that revenue increased by almost 13% to $2.36 billion and underlying earnings (EBITA) up almost 10% to $196.3 million, compared with the same period prior.
This performance supported an increase in underlying NPATA of just over 10% to $157.5 million, while statutory NPAT rose just over 101% in part to the inclusion of a $101.5 million pre-tax profit from the sale of Qube’s interest in a 202-hectare parcel of land at Beveridge, Victoria.
Underlying earnings per share (pre amortisation) increased to 8.9 cents, representing a 9.8% uplift on the prior corresponding period.
The board has increased the interim dividend by around 30.5% to 5.35 cents per share (fully franked), equal to a 60% dividend payout ratio of Qube’s H1 FY26 underlying EPSA.
Qube managing director Paul Digney said the result demonstrated both the strength of the business and the benefits of Qube’s diversification by geography and market.
“Qube again delivered revenue and earnings growth in the period, underpinned by our proven ability to deliver reliable, valuable and efficient logistics services for a diversified customer base,” he said.
“This is another pleasing half year performance, with strong underlying revenue growth in the operating division benefitting from positive contributions by some recent acquisitions, including AAT Webb Dock West (formerly MIRRAT), Coleman and the ABH bulk handling facility in Western Australia, and Nexus Logistics in New Zealand.
“These results underscore the value generated through Qube’s successful strategy of making targeted acquisitions to enhance service capabilities and then further investing in these acquisitions to support our customer base and deliver sustainable earnings growth.”
Solid underlying earnings growth (EBITA) were reported in the operating division, with the logistics and infrastructure business unit being the main contributor to the overall growth.
Earnings from the ports and bulk business unit tipped to remain "broadly flat" compared with FY25, an increased contribution from ports activities being offset by a lower contribution from the bulk activities due to the timing of transitions between contracts.
The ASX announcement came as Qube confirmed it had entered into a scheme implementation deed (SID) with a consortium led by Macquarie Asset Management (MAM), under which the consortium agreed to acquire 100% of Qube shares.
“MAM’s offer underscores the value that has been created through our strategy for growth, the quality of our business, leadership team and people and the strength of our safety culture,” Mr Digney said.
“I am confident that this transaction will provide the platform for the business to continue that evolution while maintaining our strong track record of enhancing supply chains and delivering outstanding customer service.”
According to the ASX statement, the board expected the 2026 financial year underlying NPATA and EPSA will be between 6% and 10% above the 2025 financial year result, based on the current outlook.