Macquarie Technology Group grows EBITDA in 22 consecutive halves

Macquarie Technology Group has announced its results for the half-year ended 31 December 2025 (H1 FY26), reporting 22 consecutive halves of EBITDA growth for the Group.

EBITDA was reported as $57.9 million, an increase of 3% on 1H FY25, while revenue came in $193.4 million, up 5% on H1 FY25.

NPAT was down, however, falling 9% on the prior corresponding period to finish at $16.3 million.

FY26 EBITDA for the Group is expected to be approximately $114 million to $117 million.

The Group is made up of four business areas: Macquarie Data Centres (MDC), Macquarie Cloud Services, Macquarie Government and Macquarie Telecom.

Macquarie Data Centres looking for growth

The company said that while it is actively pursuing site pipeline for data centre growth, its IC3 SuperWest construction remains on track and on budget.

The newly secured $50 million incremental debt facility the company gained will enable Macquarie Data Centres to expedite capacity delivery beyond the initial 6MW of IC3 SuperWest. 

It also secured a put and call option for a new 150 MW+ Sydney Campus, providing a "continuous pipeline" of capacity for customers; that option is expected to be exercised by the end of FY26.

Macquarie Data Centres will host the Dell AI Factory with NVIDIA within its AI and cloud data centres.

Revenue for Macquarie Data Centres was $43.2 million, up 9.4% from H1 FY25.

Macquarie Cloud Services touts Microsoft expertise

The company claims that Macquarie Cloud Services is both Microsoft’s number one Azure Partner nationally within small, medium and corporate sector, as well as Microsoft's number one national Hybrid Cloud partner, leveraging Azure Local and powered by Dell Technologies offering cloud cost reduction.

It also said that optimisation of customers' private cloud environment has reduced the impact of US tech vendors' price hike.

Earlier in 2025, Macquarie Cloud Services moved CareSuper from VMware on AWS to Azure; launched CAUDIT Cloud, a purpose-built cloud solution for research and education; was partnered with Melbourne-based construction company Symal Group; and attained Titanium tier in the Dell Technologies Partner Program.

Over 40% of gov agencies are customers

42% of Australian Government agencies are customers, according to the company, and Macquarie Government "continues to uplift and transform their cyber security posture".

Highlights for the first half of FY26 include delivering the largest Security Service Edge (SSE) deployment for the Australian Taxation Office.

The company claims it is the only company to have both its cloud and data centre services certified to ‘strategic’ level by the Department of Home Affairs, and moving forward, is focusing on identifying, evaluating and pursuing emerging opportunities in AI and cyber security products.

Revenue for the combined Cloud Services & Government (CS&G) area of the business was $115.9 million, up 11.5% from H1 FY25.

Mixed year for Macquarie Telecom

Telecom remains focused on cost optimisation to maintain EBITDA margin and generate free cash flow.

Sustained cross-sell performance by leveraging the Telecom customer portfolio to drive Cloud Services adoption.

H1 revenue declined reflecting reduction in NBN business broadband pricing plus change in mix from high-revenue voice services to low revenue higher margin data services.

2025 saw the company expand its partnership with Fortinet; team up with Netskope to simplify how Australian organisations secure and accelerate their use of data, cloud, and AI applications; sign a 'first-of-its-kind agreement' with Broadcom's VeloCloud to provide its SD-WAN technology to MSPs in Australia; and deploy public cloud for mining tech company Callidus.

Revenue for Macquarie Telecom was $53 million, down 7.7% from H1 FY25.

Outlook for FY26

Phase 1 of IC3 SuperWest (6MW) is expected to be completed by September 2026, providing the "next major step‑up" in MDC capacity and positioning the business area for growth.

Data centre assets have also been aligned into a new corporate structure to facilitate future growth and external funding opportunities.

CS&G is growing its revenue in products which are less capital intensive at a lower EBITDA margin, while also planning new growth products in cyber and AI for "sovereign, secure customer workloads" such as Australian Government and defence industry supply chain.

Telecom revenue and EBITDA margins will be materially maintained from H1 into H2 FY26.

"Macquarie’s focus on world class customer experience and people engagement is the foundation of our consistent track record of profit growth over the last 22 consecutive halves," said chief executive David Tudehope.

“The Company continues to grow and evolve and sees ongoing opportunities to scale its digital infrastructure," said chairman Peter James.

"The combination of our diversified cloud, cyber security, telecom and data centre strategies means that the company is well placed to take advantage of the growth opportunities in technology.”