Ingenia Communities Group (INA) H2 2026 earnings summary

Executive summary

• FY26 results exceeded guidance, with EBIT up 18% to AUD 193.4 million and underlying EPS up 16% to 35.8 cents, marking the second year of a five-year strategic plan focused on execution and financial growth.

• Revenue rose 8% to AUD 555.3 million, and statutory profit increased 45% to AUD 186.4 million year-over-year.

• Strong operational performance across residential, rental, and holidays segments, supported by increased settlements and occupancy.

• 573 new home settlements, up 10% year-over-year, with development pipeline extended to 8,800 potential sites.

• Strategic execution of the 5-Year Plan, transitioning from acquirer to operator, with efficiency gains and a scalable platform.

Financial highlights

• Underlying profit reached AUD 145.8 million, up 16% year-over-year, with EBIT and EPS both above guidance.

• Statutory profit rose 45%, driven by positive net revaluation, resulting in a 9% uplift in NTA per security to AUD 4.28.

• Development gross margin reached 48%, and settlements increased 10% year-over-year to 573.

• Lifestyle Rental EBIT grew 8% to AUD 49.9 million; Holidays segment EBIT rose 9% to AUD 63.2 million, with tourism rental income up 12%.

• Development JV delivered a 69% increase in equity accounted operating profits to AUD 33.6 million.

Outlook and guidance

• Targeting FY27 EBIT and underlying EPS growth of 0%-10% over FY26, with EPS guidance of 35.8–39.3 cents and EBIT of AUD 193.4–212.8 million.

• Guidance reflects caution around residential market conditions and buyer sentiment.

• Expecting second-half weighting in FY27 settlements due to longer home sale cycles.

• Pipeline extends to 8,800 potential sites, with approvals for over 3,500 sites and six new communities contributing settlements in FY27.

• Capital recycling and asset sales (~AUD 125 million) to support reinvestment in growth initiatives.