WOTSO Property Unit reported a 4% rise in full-year revenue to AUD 48.8 million for the six months ended June 2026, driven by an 11% increase in Flexspace sales to AUD 35.3 million. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) edged up 1% to AUD 10.1 million, though real estate income fell 12% following the sale of the Yandina asset.
The company’s Flexspace network expanded to 40 locations across Australia and New Zealand, a 29% increase from 31 sites a year earlier. Same-location revenue per available desk (RevPAD) rose 6% to AUD 379, while net asset value per security stood at AUD 1.37. Flexspace contribution margins totalled AUD 2.9 million, with mature locations generating AUD 2.7 million and 13 start-up sites detracting AUD 641,000.
Capital management initiatives included the sale of the Yandina property for AUD 16.5 million, unlocking capital after senior debt repayment in February 2026. Proceeds funded a AUD 1.6 million security buyback at an average price of AUD 0.62, delivering approximately AUD 0.0125 per security in net asset value accretion. Net gearing remained at 27.8%, while the loan-to-value ratio stood at 38%.
Operational highlights included the launch of the CookSpace commercial kitchen concept in North Strathfield, which achieved 100% occupancy and generated nearly AUD 500 per square metre. An e-commerce day pass campaign in April boosted monthly day pass sales from about 70,000 to over 200,000, lifting e-commerce penetration from roughly 30% to 70%. Meeting room revenue rose by approximately AUD 50,000 in July 2026 following the introduction of premium pricing.
WOTSO’s share price held steady at AUD 0.51, trading near the lower end of its 52-week range between AUD 0.45 and AUD 0.69. The company plans to open seven new locations in FY27, down from nine in FY26, as it focuses on integrating existing assets and expanding its digital platform.
