Finbar Group (FRI) investor relations material

Executive summary

• NPAT for 1H26 reached $10.6 million, up 12.9% year-over-year, with underlying NPAT at $12.0 million.

• Maintained 30 consecutive years of profit and a 100% project delivery success rate, with 79 completed developments and 7,407 units delivered.

• Principal activities remained focused on property development and investment, primarily in Western Australia.

• Record 1H26 sales of 409 lots valued at $368 million, up 297% year-over-year, and pre-sales of $523 million, up 76% since FY25.

• No significant changes in the nature of activities or material subsequent events were reported.

Financial highlights

• Revenue for 1H26 was $109.4 million, down 50% year-over-year due to fewer project completions.

• Gross profit was $24.0 million, down 5% year-over-year; operating profit rose 12% to $15.5 million.

• Cash and term deposits increased to $68.9 million, up $36.4 million from June 2025; cash and cash equivalents at $44.6 million.

• Bank debt reduced by 39% to $30.5 million as of December 2025.

• Earnings per share increased to 3.89 cents, up from 3.44 cents per share.

Outlook and guidance

• FY26 projected NPAT is $18–22 million, representing ~40% growth from FY25, subject to project completions, especially Bel-Air.

• Five-year development pipeline valued at $1.8 billion with over 1,900 lots.

• Major projects due for completion: Bel-Air Apartments (2H26), Garden Towers (1H27), Riverbank Residences (2H27).

• Palmyra West Apartments launched December 2025; Romeo project launch set for March 2026.

• Interim dividend of 2.5 cents per share (fully franked) declared, payable 10 April 2026.