Ingenia Communities Group (INA) H1 2026 earnings summary

Executive summary

• Revenue for the half-year was $257.3 million, stable year-over-year, with strong Lifestyle Rental and Holidays performance offset by lower new home settlements.

• Statutory profit rose 11% to $97.4 million, driven by fair value gains on investment properties and interest rate hedging instruments.

• EBIT was $85 million, down 1% year-over-year, impacted by settlement timing and higher JV contribution.

• Underlying profit declined 10% to $62.1 million due to higher finance and tax expenses; underlying EPS fell 10% to 15.2 cents.

• Strong demand for new projects, with 440 deposits/contracts and 248 new land lease home settlements year-to-date.

Financial highlights

• Revenue was $257.3 million, flat year-over-year; statutory profit rose 11% to $97.4 million.

• EBIT at $85.0 million, down 1%; underlying profit at $62.1 million, down 10%.

• Distribution per security was 4.8 cents; NTA per security increased 5% to $4.10.

• Gearing at 31.1%, within target range; $88 million invested in growth.

• Gross new home development profit was $47.5 million from 248 settlements.

Outlook and guidance

• On track to deliver FY26 at the top of guidance, targeting EBIT of $180.5–$188.7 million (10–15% growth) and underlying EPS of 32.5–34.0 cents.

• Growth in recurring revenue and residential rents expected; settlements skewed to 2H due to project timing.

• Focus remains on expanding the development pipeline, enhancing customer experience, and advancing ESG initiatives targeting net zero operational emissions by 2035.

• Sales on hand and new project commencements support confidence in FY26 and momentum into FY27.

• Ongoing asset review to support portfolio refinement and capital allocation.