Finbar Group (FRI) investor relations material

Executive summary

• Achieved FY26 net profit after tax of AUD 20.3 million, up 40.9% year-over-year, with underlying NPAT at AUD 22.1 million, supported by record pre-sales and increased dividends.

• Revenue declined 28.2% to AUD 204.3 million, but higher margins and cost discipline drove profit growth.

• Delivered 80 completed projects and over 7,600 apartments within a 5-10 km radius of Perth CBD, maintaining a 100% delivery track record and 31 consecutive years of profit.

• Strong sales performance with 566 lots sold (AUD 528.8 million, up 124% year-over-year) and record pre-sales of AUD 567.2 million.

• Five-year development pipeline expanded to AUD 1.8 billion and 1,700+ lots.

Financial highlights

• Gross profit margin improved to 20.2% from 12.1% year-over-year; gross profit up 20% to AUD 41.2 million.

• Earnings per share increased 40% year-over-year to AUD 0.074; fully franked dividend of AUD 0.055 for FY26.

• Cash reserves rose to AUD 50.7 million, up 40% year-over-year; borrowings reduced by 72% to AUD 13.9 million.

• Operational profit rose to AUD 27.5 million from AUD 21.3 million; profit before tax at AUD 28.5 million.

• Net tangible assets per share increased 2.2% to AUD 0.94.

Outlook and guidance

• Five-year development pipeline valued at AUD 1.8 billion, with 1,700+ units planned and several major projects under construction.

• Entering FY27 with record pre-sales, strong balance sheet, and significant project pipeline.

• Federal tax reforms from July 2027 expected to boost investment in new apartments.

• Focus on mid-market, affordable product, with new projects like Ascot site targeting this segment.

• Anticipates continued strong demand due to population growth, housing undersupply, and policy support in Perth.