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Infratil Limited (ASX:IFT)

ALERT: Price-sensitive ASX Announcement for IFT
Current share price for IFT : $10.490 -0.44 (-4.03%)+
Announcement
Release
16 Sep 2026 7:44AM
Price at Release
$10.930
Full Release
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Summary
Infratil’s Investor Day 2026 materials outline a strategy increasingly centred on AI-related infrastructure, with data centres and energy now the main growth engines of the portfolio, and include an upgrade to FY27 proportionate operational EBITDAF guidance to NZ$1,320 million to NZ$1,420 million following stronger outlook from CDC Data Centres. Across the first 60 pages, Infratil says global data centre demand is accelerating and supply remains constrained by power, approvals, equipment and delivery bottlenecks, positioning its portfolio to benefit through CDC in Australasia, Kao Data in the UK, Longroad Energy in the US, and communications assets including One New Zealand and EonFibre. CDC is highlighted as the primary earnings driver, lifting FY27 EBITDAF guidance to A$710 million to A$750 million, with 350MW deployed and 1.1GW of contracted capacity expected to deliver A$2.2 billion of annualised EBITDAF when fully deployed; Longroad has raised its 2029 targets to 14.3GW operating fleet and US$1.2 billion run-rate EBITDA, supported by strong power demand from data centres and electrification, a 2.8GW Amargosa acquisition, and a 10GW-plus digital infrastructure pipeline including 5GW of immediately actionable campuses; One New Zealand remains an important cash flow contributor with improving mobile share, ongoing IT simplification, AI-enabled productivity benefits, a proposed RAN sharing venture with 2degrees, and EonFibre positioned to capture future data-centre-related demand in New Zealand. Infratil also emphasises balance sheet flexibility, supported by a BBB+ credit rating, divestments and portfolio refinement, while maintaining its long-term target of 11% to 15% annual portfolio returns.
Key Points
  • Infratil increased FY27 proportionate operational EBITDAF guidance to NZ$1,320 million to NZ$1,420 million from NZ$1,300 million to NZ$1,400 million.
  • The guidance increase was driven by CDC Data Centres upgrading FY27 EBITDAF guidance to A$710 million to A$750 million from A$680 million to A$720 million.
  • Infratil said its data centre investments now comprise just over half of its NZ$22 billion total asset value.
  • The portfolio is being positioned around AI infrastructure, which Infratil says represents its strongest opportunity.
  • CDC has 350MW of deployed capacity and 1.1GW of contracted capacity expected to deliver A$2.2 billion of annualised EBITDAF when fully deployed.
  • CDC signed another 70MW of contracts for delivery across late FY27 and early FY28, with guidance also helped by operating cost savings and non-recurring managed services.
  • Longroad Energy increased its 2029 operating fleet target to 14.3GW from 11.5GW and its run-rate EBITDA target to US$1.2 billion from US$0.8 billion.
  • Longroad acquired the 2.8GW Amargosa PV and battery project in Nevada, its largest acquisition to date.
  • Longroad is targeting about 2.5GW per year of development during 2027 to 2029 and has identified a 10GW-plus digital infrastructure pipeline.
  • Longroad says 5GW of digital infrastructure opportunities are immediately actionable with energisation potential in 2029 to 2030.
  • Infratil’s presentations argue AI demand is accelerating due to rising model capability, falling token costs and increasing inference workloads.
  • The materials emphasise that data centre and power supply remain constrained by grid access, equipment, cooling systems, labour and approvals.
  • Infratil says its existing platforms give it multiple ways to capture value across the AI infrastructure value chain, including power, data centres, fibre and communications.
  • One New Zealand remains a reliable cash flow contributor and continues to grow consumer mobile revenue share.
  • One New Zealand reported progress in IT modernisation through its T-One simplification programme and in AI-enabled productivity initiatives.
  • One New Zealand recently proposed a radio access network sharing arrangement with 2degrees, subject to regulatory approvals, to improve infrastructure efficiency.
  • EonFibre completed its first full year of separated operations and is positioned to benefit from AI demand and future data centre growth in New Zealand.
  • Infratil said its balance sheet can support further growth, reinforced by its BBB+ credit rating, refinancing capacity and divestments.
  • The company reiterated its target portfolio returns of 11% to 15% per annum over a rolling 10-year period.
  • The first 60 pages focus on Infratil’s portfolio strategy, Morrison’s investment support, Longroad’s expansion, and One New Zealand’s market and infrastructure positioning ahead of later CDC detail.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.