Finbar Group (FRI) H2 2025 earnings summary

Executive summary

• Reported NPAT of $14.38 million for FY25, down 12% compared to the prior year.

• Underlying NPAT rose 16% year-over-year to $16.17 million, excluding property valuation movements and one-off disposals.

• Revenue increased 46% year-over-year to $284.47 million, driven by strong project settlements.

• Completed the sale of non-core subsidiaries for $2.55 million to focus on core development activities.

Financial highlights

• Achieved $352 million in sales value across 351 lots, supported by completion of major projects.

• Average monthly off-the-plan sales reached $7.8 million.

• Cash on hand at 30 June 2025 was $36.4 million, with net debt reduced by $360 million to $56.7 million.

• Fully franked final dividend of 2 cps declared for FY25.

Outlook and guidance

• Five-year development pipeline exceeds $1 billion in estimated end value.

• FY26 expected to benefit from progressive sell-down of completed inventory, with $50 million in sales achieved year-to-date and $55 million in new OTP sales since 30 June 2025.

• Settlement of apartment sales in OTP projects anticipated to drive material profit recognition in coming years.

• Positive outlook supported by chronic housing undersupply, improving interest rates, and strong migration to Perth.