Ingenia Communities Group (INA) H2 2025 earnings summary

Executive summary

• Underlying EPS rose 33% to 30.9 cents, exceeding guidance, and EBIT reached $164.1 million, up 22% year-over-year, at the top end of guidance.

• Achieved year-one strategic goals, completed business simplification, cost reduction, and embedded operational efficiencies.

• Settled 520 new land lease homes (up 13%), with high occupancy across residential and holidays segments and a development pipeline of 5,024 sites.

• Holidays forward bookings up 14%, supporting growth momentum into FY26.

• Divested or deferred lower-margin projects, prioritizing performance and growth opportunities.

Financial highlights

• Revenue increased 8% to $512 million; underlying profit up 33% to $126.1 million; statutory profit surged 816% to $128.4 million due to one-off tax impacts and prior year DMF provision.

• EBIT reached $164.1 million, up 22% year-over-year, at the top end of guidance.

• Distribution per security was 9.6 cents, down 15% due to prior year capital gains.

• Operating cash flow rose to $145.2 million, up over 75% year-over-year.

• NTA per security increased 6% to $3.91.

Outlook and guidance

• FY26 EBIT guidance: $180.5m–$188.7m (10–15% growth); underlying EPS: 32.5–34.0 cents.

• Five-year settlements CAGR of 10%-15% remains the focus, with five new greenfield projects launching and seven new projects in the pipeline.

• Focus on recurring revenue growth, cost discipline, and development activity to support medium-term returns.

• Joint Venture settlements expected to contribute ~35% of FY26 settlements.

• Cost headwinds and regulatory impacts on rent remain, with insurance and council rates unpredictable.