Ingenia Communities Group · ASX:INA
Ingenia Communities — H1 2025 Earnings Presentation
47 slides from Ingenia Communities's earnings presentation, Feb 25, 2025
Slide 1: HY25 Results Presentation (ASX release)
ASX / MEDIA RELEASE 25 February 2025 HY25 Results Presentation Ingenia Communities Group (ASX:INA) provides its HY25 Results Presentation. Authorised for lodgement by the Board. For personal use only ENDS For further information please contact: Donna Byrne General Manager Investor Relations & Sustai
Slide 2: 1H25 Results Presentation
RESULTS For personal use only PRESENTATION 1H25 25 FEBRUARY 2025 Image: Ingenia Lifestyle Natura, NSW
Slide 3: Acknowledgement of Country
For personal use only ACKNOWLEDGEMENT OF COUNTRY As an owner, operator and creator of real estate across Australia, Ingenia Communities acknowledges the traditional custodians of the lands on which we operate We recognise their ongoing connection to land, waters and community, and pay our respects t
Slide 4: Agenda
AGENDA For personal use only 01 02 03 OVERVIEW & 1H25 FINANCIAL LIFESTYLE STRATEGY UPDATE PERFORMANCE DEVELOPMENT John Carfi Justin Mitchell Michael Rabey CEO & Managing Director Chief Financial Officer EGM, Acquisitions & Development 04 05 06 RESIDENTIAL HOLIDAYS OUTLOOK AND COMMUNITIES GUIDANCE Ju
Slide 5: Overview and Strategy Update
For personal use only OVERVIEW AND STRATEGY UPDATE 4 Image: Ingenia Lifestyle Element Fullerton Cove, NSW
Slide 6: 1H25 Overview
1H25 OVERVIEW Good progress on strategy execution in line with 1-, 3- and 5-Year Plan • Business simplification For personal use only • Delivery of operating efficiencies • Overhead reduction • Strengthened development discipline, accelerating development delivery and improving returns Benefits begi
Slide 7: Our Focus to Drive Performance: Strategic levers for growth
OUR FOCUS TO DRIVE PERFORMANCE Strategic levers for growth For personal use only BUILD CAPACITY IN SIMPLIFY BUSINESS DEVELOPMENT GROWTH ENGINE DRIVE OPERATIONAL EFFICIENCY • Streamline executive and business • Deliver pipeline of current projects, • Reduce cost base and refine structure to drive acc
Slide 8: Our Focus to Drive Performance: Year 1 Plan progress
OUR FOCUS TO DRIVE PERFORMANCE Year 1 Plan well progressed REFOCUS BUSINESS KEY ACTIONS TO DATE For personal use only Year 1 : Complete transition from acquirer to operator Well progressed; building momentum via leaner business with refined structure and clear focus ✓ Simplify business and refine fo
Slide 9: Our Focus to Drive Performance: Year 3 and 5 outcomes
OUR FOCUS TO DRIVE PERFORMANCE Year 1 outcomes contributing to delivery of strategy and medium-term scale OPTIMISE RETURNS EFFICIENT PLATFORM OF SCALE For personal use only Strategic actions and execution focus Year 3 Year 5 driving delivery of Year 1 outcomes and Enhanced returns through developmen
Slide 10: 1H25 Financial Performance
For personal use only 1H25 FINANCIAL PERFORMANCE Image: Ingenia Holidays Soldiers Point, NSW 9
Slide 11: Business Overview
BUSINESS OVERVIEW1 Growing portfolio diversified by location and revenue streams For personal use only COMMUNITIES & SITES INVESTMENT PROPERTY $2.6b 100 Established, under development Owned/Managed and planned DEVELOPMENT2 OPERATIONS 5,225 15,300 Potential new land lease Income generating homes, hom
Slide 12: Key Financial Highlights
KEY FINANCIAL HIGHLIGHTS Material increase in home settlements: lifestyle and holidays businesses delivering growth REVENUE EBIT For personal use only • On track to deliver upgraded guidance $256.9m $86.2m +21% on 1H24 +48% on 1H24 • EBIT1,2 up 48% on 1H24 • Underlying EPS 16.9 cents (1H24 10.7 cps)
Slide 13: EBIT Up 48%
EBIT UP 48% EBIT 1H25 1H241 Change Margin For personal use only Lifestyle Rental benefitted from CPI linked rental increases and growth in rent Residential Communities base as developments added new homes annuity stream Lifestyle Rental $24.2m $21.3m 14% 52.4% Lifestyle Development $40.3m $19.9m 103
Slide 14: Capital Management
CAPITAL MANAGEMENT Balance sheet remains well positioned LVR within target (30-40%) at 34% Debt Metrics 31 Dec 24 30 Jun 24 • $122.0 million in cash and available undrawn debt For personal use only Loan to value ratio (covenant <55%) 34.0% 32.3% Gearing ratio1 29.1% 27.8% • No debt expiring until De
Slide 15: Portfolio Valuation Summary
PORTFOLIO VALUATION SUMMARY For personal use only Weighted Av. Weighted Av. Dec 242 Net Portfolio Cap Rate Cap Rate Book Value revaluation3 Dec 241 Jun 241 Lifestyle Rental 5.51% 5.46% Lifestyle (land lease) 5.09% 5.04% $1,349.4m $4.6m Rental (all age) 6.23% 6.19% Holidays & Mixed Use 7.65% 7.76% $9
Slide 16: Portfolio Update
For personal use only PORTFOLIO UPDATE Image: Ingenia Lifestyle Natura, NSW 15
Slide 17: Portfolio Overview
PORTFOLIO OVERVIEW1 Growing land lease business Property Portfolio Portfolio EBIT5 by value1 For personal use only Living Sectors 20% 29% 35% Land Lease Rental Annual Cabins Sites homes Homes sites 41% Lifestyle Rental $2.6b $98.5m Ingenia Lifestyle2 4,942 19 - - - 5% Ingenia Rental (All age) 317 1,
Slide 18: Residential Communities
For personal use only RESIDENTIAL COMMUNITIES Image: Ingenia Lifestyle Freshwater, QLD 17
Slide 19: Residential Communities: Increasing exposure to land lease communities
RESIDENTIAL COMMUNITIES Increasing exposure to land lease communities For personal use only • Ingenia Lifestyle, Ingenia Rental and Ingenia Gardens delivering core recurring rental revenue • Cash flows supported by government payments and CPI linked rents • Communities meet growing demand for afford
Slide 20: Lifestyle Development
For personal use only LIFESTYLE DEVELOPMENT Image: Ingenia Lifestyle Natura, NSW 19
Slide 21: Land Lease (Lifestyle) Development
LAND LEASE (LIFESTYLE) DEVELOPMENT Land lease development is core focus for growth EBIT up 103% on 1H24 and EBIT margin growth as Key Data 1H25 1H24 benefits of targeted actions and scale begin to For personal use only New home settlements (100% INA) 199 143 emerge • Total of 199 home settlements, u
Slide 22: Land Lease Development: Joint Venture
LAND LEASE DEVELOPMENT: JOINT VENTURE Growing settlements into 2H25: portfolio dominated by NSW projects For personal use only Four projects now delivering settlements • Archer’s Run (Morisset, NSW) first home settlements November 2024 • First display homes and customer experience centre now open •
Slide 23: Ingenia Lifestyle Development
INGENIA LIFESTYLE DEVELOPMENT Creating future communities and growing high quality rent base For personal use only Growth in construction aligned to sales momentum and strong first half Growth in construction and inventory to support settlements ongoing settlements growth • Stable build times provid
Slide 24: Disciplined Development Activity
DISCIPLINED DEVELOPMENT ACTIVITY Supporting sales momentum and enhanced returns For personal use only Projects complete – over 600 homes Home delivery delivering rent • First settlements at Archer’s Run, NSW • Chambers Pines, QLD • First Green Star Designed certified • Seachange Coomera, QLD homes c
Slide 25: Extending Pipeline for Future Growth
EXTENDING PIPELINE FOR FUTURE GROWTH Location and price diversity For personal use only • Projects in 15 markets across three states • Prices for current projects from $475,000 to >$1 million Extending pipeline of approved projects • Development approval received for 490 sites 1H25 (>3,600 approved
Slide 26: Lifestyle Rental
LIFESTYLE RENTAL (LAND LEASE AND ALL AGE RENTAL) Delivering growth in annuity cash flows For personal use only Key Data 1H25 1H24 Total revenue $46.2m $42.1m EBIT $24.2m $21.3m EBIT margin 52.4% 50.5% EBIT margin (stabilised)1 54.3% 51.2% 31 Dec 24 30 Jun 24 Book value – in operation $1,006.7m $956.
Slide 27: Ingenia Lifestyle (Land Lease)
INGENIA LIFESTYLE (LAND LEASE) Rent base growing Significant growth in rental revenues For personal use only • 194 new home settlements 1H25, adding $2.1 million revenue per annum • Weighted average weekly rent increase 4.2% • Rents increased across more than 1,700 homes • 117 resales across establi
Slide 28: Ingenia Rental (All Age Rental)
INGENIA RENTAL (ALL AGE RENTAL) All age ‘built to rent’ experiencing ongoing demand High occupancy maintained Continue to enhance customer offer For personal use only • Weighted average weekly rent increase • Addition of amenities at Durack (QLD) and 8.5% Frankston (VIC) • Seven communities at 99% o
Slide 29: Ingenia Gardens
INGENIA GARDENS Quality cash flows with high yield Key Data1 1H25 1H24 For personal use only Total revenue EBIT $10.8m $5.4m $13.4m $6.5m 1,020 HOMES EBIT margin 49.9% 48.9% 31 Dec 24 30 Jun 24 Book value $137.4m $134.1m Ongoing high occupancy delivering quality, stable cash flows • Ingenia Connect
Slide 30: Holidays
For personal use only HOLIDAYS 29
Slide 31: Ingenia Holidays
INGENIA HOLIDAYS 34 PARKS WITH >7,000 INCOME GENERATING SITES1 For personal use only 1,637 ‘ANNUAL’ SITES GENERATING STABLE RENTS 4,534 TOURISM CABINS AND SITES 1,275 PERMANENT HOMES (RENTAL AND LAND LEASE) 1. Includes Ingenia Holidays Tomakin, acquired February 2025. Excludes fund assets sold Febru
Slide 32: Ingenia Holidays: Continued demand delivering revenue growth
INGENIA HOLIDAYS Continued demand delivering revenue growth Tourism rental income up 7% (like for like) with increase in Key Data 1H25 1H24 For personal use only both occupancy and rate Tourism rental income $53.9m $51.1m • EBIT up 3%, margin impacted by one-off infrastructure Residential rental inc
Slide 33: Ingenia Holidays: Investing to optimise returns
INGENIA HOLIDAYS Investing to optimise returns • $5 million invested 1H25 via conversion of lower yielding or vacant sites • Addition of 43 new cabins/tents across 14 sites For personal use only • On track to deliver targeted >14% yield on cost • Large embedded pipeline – 400+ potential infill and c
Slide 34: Outlook and Guidance
For personal use only OUTLOOK AND GUIDANCE 33 Image: Ingenia Lifestyle Archer’s Run, NSW
Slide 35: Outlook and Guidance
OUTLOOK AND GUIDANCE Benefits of clear strategy and focussed execution emerging For personal use only FY25 guidance upgrade reflects emerging benefits of 1-, 3- and 5-Year Plan driven by focus on strategy execution and development growth • Timing of settlements (2H25 vs 1H26) remains key variable •
Slide 36: Questions
For personal use only QUESTIONS 35 Image: Ingenia Holidays Byron Bay, NSW
Slide 37: Appendices
For personal use only APPENDICES 36 Image: Ingenia Holidays Soldiers Point, NSW
Slide 38: EBIT by segment and underlying profit
APPENDIX 1 EBIT by segment and underlying profit Residential Communities Tourism Other For personal use only Capital Lifestyle Fuel, Food and ($m) Lifestyle Rental Ingenia Gardens Ingenia Holidays Partnerships1 and Total Development Beverage Corporate2 Rental income - 38.1 10.0 6.2 - - 54.3 Tourism
Slide 39: Restatement of 1H24 segment results
APPENDIX 2 Restatement of 1H24 segment results Capital Capital Partnerships & Corporate Lifestyle Holidays & Fuel, Food & $m Lifestyle Rental Ingenia Gardens Partnerships & includes: For personal use only Development Mixed Use Beverage Corporate1 • Support costs - People & Culture, Segment EBIT rest
Slide 40: Cash flow
APPENDIX 3 Cash flow 1H25 1H24 For personal use only ($m) ($m) Opening cash at 1 Jul 14.5 45.7 Rental and other property income 145.6 141.0 Moderating increase in operating costs in Lifestyle Rental and Holidays; cost increases in Lifestyle Property and other expenses (110.5) (106.2) Development to
Slide 41: Consolidated balance sheet
APPENDIX 4 Consolidated balance sheet For personal use only 31 Dec 24 30 Jun 24 ($m) ($m) Cash 15.0 14.5 Inventories 81.4 86.5 Inventory balance being managed to better align to sales velocity Investment properties 2,392.2 2,250.7 Investment property value reflects capital expenditure for existing a
Slide 42: Land lease investment property fair value drivers
APPENDIX 5 Land lease investment property fair value drivers For personal use only Development Component – Land lease Investment Property Value • On acquisition of land, the asset is initially recognised in the Development Segment and reflects Primary IP Development - the initial cost of the undevel
Slide 43: 1H25 settlements – project value metrics
APPENDIX 6 1H25 settlements – project value metrics Overview of development project metrics $80.3 1 2 2 2 2 Per Lot $'000 $272.6 $205.2 $154.7 $74.4 Development profit “above the ground” For personal use only 2 $285.5 • Development profit reflects the gross development Development profit "above the
Slide 44: Underlying to statutory profit
APPENDIX 7 Underlying to statutory profit For personal use only 1H25 Underlying to Statutory Profit Bridge 120.0 40.9 (1.6) (6.2) 100.0 (2.4) (12.0) 87.6 80.0 $m 68.8 60.0 40.0 20.0 0.0 Underlying Profit 1HFY25 Fair Value Gain on Share of Joint Venture Transaction Costs Revaluation of Financial Inco
Slide 45: Refreshed Board and Committee Structure
APPENDIX 8 Refreshed Board and Committee Structure For personal use only SHANE GANNON ROBERT MORRISON JOHN CARFI Non-executive Chair Non-executive Deputy Chair CEO & Managing Member, Audit, Risk & Member, People & Culture Director Sustainability Committee Committee SIMON SHAKESHEFF JENNY FAGG LISA S
Slide 46: Contact Us
For personal use only CONTACT US Donna Byrne GM Investor Relations and Sustainability dbyrne@ingeniacommunities.com.au Tel: +61 401 711 542 Justin Mitchell Chief Financial Officer jmitchell@ingeniacommunities.com.au Ingenia Communities Group Level 3, 88 Cumberland Street, Sydney, NSW 2000 www.ingeni
Slide 47: Disclaimer
DISCLAIMER This presentation was prepared by Ingenia Communities Holdings Limited (ACN 154 444 regulatory, business, competitive and economic uncertainties and risks. Actual future 925) and Ingenia Communities RE Limited (ACN 154 464 990) as responsible entity for events may vary materially from for
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