Macquarie Technology Group (ASX: MAQ) – MAQ Files 2025 Annual Report

Macquarie Technology Group has entered a transformational phase of expansion, completing the $240 million acquisition of a Macquarie Park site in August 2026 that management intends to develop into a 200 megawatt data centre campus co-located with an engineering and technology facility. This represents the company’s largest strategic land acquisition to date and signals management’s conviction in Australia’s long-term demand for sovereign digital infrastructure.

The company reported revenue of $390.0 million for the year ended 30 June 2026, an increase of 5.5 percent from the prior year, while EBITDA reached $115.9 million, up 2.0 percent. The organisation’s net profit after tax declined to $32.1 million from $34.9 million in the prior year, though operating cash flow remained robust at $94.6 million, representing 108 percent cash conversion from EBITDA. This cash generation strength provides the financial foundation for the company’s capital-intensive expansion program.

Management’s ability to fund growth has been substantially strengthened through a $200 million hybrid investment secured from the National Reconstruction Fund Corporation in March 2026. The sovereign-backed funding arrangement takes the form of perpetual subordinated securities with no cash distribution requirements or restrictive covenants, providing what management describes as an efficient, non-dilutive capital source. This external funding, combined with increased debt facilities raised to $500 million in February 2026, demonstrates the company’s access to capital markets and government backing for its strategic objectives.

The company’s core operations continue to generate predictable earnings, with 96 percent of group revenue derived from contracted monthly recurring revenue streams. Customer satisfaction metrics remain exceptional, with a net promoter score of plus 86 recorded across the business. The Data Centres segment, the growth engine, achieved revenue of $87.0 million and EBITDA of $40.0 million, while the IC3 SuperWest facility nears completion in September 2026, ahead of the originally scheduled timeline. Management expects the 47 megawatt facility will begin commercialisation during 2027.

The company maintained its disciplined capital allocation approach by declining to declare either interim or final dividends for FY26, explicitly stating the decision reflects ongoing capital-intensive growth phase. This prioritises shareholder value through infrastructure investment rather than distributions. Several changes to the board composition occurred during the year, with Lisa Brock appointed as chair succeeding Peter James, while new directors David Buckingham and Kate Vidgen were appointed with combined experience in technology, infrastructure and finance sectors.

The immediate focus for fiscal 2027 centres on completion and commercialisation of IC3 SuperWest, progression of development approvals for the Macquarie Park campus, and continued investment in artificial intelligence-ready infrastructure and cyber security capabilities. Management has outlined an estimated long-term capacity pipeline of approximately 268 megawatts, providing visibility into multiyear growth runway. Investors should monitor the pace of IC3 SuperWest customer acquisition, achievement of planning approvals for the Macquarie Park site, and execution against the company’s capital deployment timeline.

View the full ASX announcement (PDF)

About Macquarie Technology Group Limited (ASX: MAQ)

Macquarie Technology Group Limited is an Australian data centre, cloud, cybersecurity, and telecommunications company serving medium to large businesses and government customers. The company provides voice communications, cloud infrastructure, network management, cyber security solutions, and colocation services. It is headquartered in Sydney and listed on the Australian Securities Exchange since 1999.

If you would like to discuss this announcement, request a callback or call us on 1300 889 603.