Ingenia Communities Group (INA) H2 2025 earnings summary

Executive summary

• Underlying EPS rose 33% to 30.9 cents, exceeding guidance, and EBIT reached AUD 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 operational efficiencies, positioning for accelerated delivery of three- and five-year plans.

• Settled 520 new land lease homes, up 13% on FY24, with high occupancy across residential and holidays segments.

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

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

Financial highlights

• Revenue increased 8% to AUD 512.0 million; underlying profit up 33% to AUD 126.1 million.

• Statutory profit surged to AUD 128.4 million (+816%), reflecting one-off tax impacts and prior period DMF provision.

• Distribution per security was AUD 0.096, down 15% due to prior year capital gains.

• Gearing at 29.7% and LVR at 35%, both within target ranges.

• NTA per security increased 6% to AUD 3.91.

Outlook and guidance

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

• 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.

• Expecting cost headwinds to moderate, though insurance and council rates remain unpredictable.

• Tourism EBIT margins expected to improve as one-off costs subside.