Eureka Group Holdings Limited (ASX: $EGH) FY24 Earnings Guidance Announcement

Eureka Group Holdings Limited (ASX: $EGH) has announced its FY24 earnings guidance, expecting to report Underlying EBITDA in the range of $15.0-$15.3 million, representing a growth of 19-21% over the prior year. The midpoint FY24 underlying earnings per share (EPS) is projected to be 3.00 cents, indicating an 8.3% increase over the first half of FY24.

Executive Commentary on FY24 Earnings Guidance

Eureka's Executive Chairman, Mr Murray Boyte, stated, 'Eureka's guidance reflects continued strong organic growth from existing villages, as well as the contribution from acquisitions, developments, and investments. Eureka continues to benefit from high occupancy, strong demand, and rental growth, underpinned by inflation-indexed Government payments.'

Summary of FY24 Earnings Guidance and Outlook

Eureka Group Holdings Limited (ASX: $EGH) expects significant growth in FY24, driven by strong organic growth, acquisitions, developments, and investments. The company's guidance includes a positive impact from the completed Brassall development and the investment in the Eureka Villages WA Fund. The Directors have unanimously recommended that shareholders reject the inadequate and undervalued Aspen Offer, emphasizing Eureka's attractive future as the only listed pure-play provider of affordable seniors' rental accommodation in Australia. Eureka remains focused on pursuing opportunities aligned with its business model to deliver future earnings and net asset growth for all shareholders in FY24 and beyond.