Ingenia Communities Group · ASX:INA
Ingenia Communities — H1 2026 Earnings Presentation
42 slides from Ingenia Communities's earnings presentation, Feb 24, 2026
Slide 1: 1H26 Results Presentation
1H26 Results Presentation 24 February 2026 1
Slide 2: Acknowledgement Of Country
Acknowledgement Of Country As an owner, operator and developer 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 to First Nations Elde
Slide 3: Contents
Contents Driving Performance: Year 1 Goals Delivered 04 06 14 20 24 29 Overview & Financial Land Lease Residential Holidays Outlook & Strategy Update Performance Development Communities Matthew Young Guidance John Carfi Justin Mitchell Michael Rabey Kristy Minter EGM, Tourism John Carfi CEO & Managi
Slide 4: Results Overview
1H26 Results Presentation Results Overview Ingenia Lifestyle Sanctuary, QLD 4
Slide 5: 1H26 Results Overview
Overview & Strategy Update 1H26 Results Overview First half result in line with targets Expect to deliver FY26 result at top of • EBIT of $85 million down 1% on 1H25, reflecting second half settlements skew guidance range1 and increased Joint Venture contribution • Underlying EPS of 15.2 cents down
Slide 6: Financial Performance & Capital Management
1H26 Results Presentation Financial Performance & Capital Management Artist’s impression: Ingenia Lifestyle 6 Parkside, VIC
Slide 7: Business Overview
Financial Performance & Capital Management Business Overview1 Investment Property Communities & Sites Development 2 $2.9b 102 4,946 Owned/Managed Established, under Potential new land development and planned lease home sites Operations ‘Room Nights’ Settlements >16,000 1.8m 248 Income generating hom
Slide 8: 1H26 Financial Overview
Financial Performance & Capital Management 1H26 Financial Overview Revenue EBIT1 • Solid operational performance - diverse revenue streams, increase in occupied sites, contracted and market rent growth and increase in $257.3m $85.0m holidays occupancy and rate Flat on 1H25 (1%) on 1H25 • EBIT impact
Slide 9: EBIT
Financial Performance & Capital Management EBIT Growing ‘passive’ income streams; settlements to increase in line with second half skew EBIT 1H26 1H25 Change Margin • Lifestyle Rental - growth in rent base as developments added new Residential Communities homes; contracted and market related rent in
Slide 10: Capital Management
Financial Performance & Capital Management Capital Management Well positioned balance sheet Key Metrics 31 Dec 25 30 Jun 25 Gearing of 31.1% at mid point of target range Gearing ratio1 31.1% 29.7% • Approximately $199 million in cash and available undrawn debt Loan to value ratio (covenant <55%) 36.
Slide 11: Portfolio Overview
Financial Performance & Capital Management Portfolio Overview1 Growing stable recurring revenue Annuity-style Revenue Recurring Revenue Land Lease Annual Rental Portfolio EBIT4 Revenue Mix5 Cabins Sites Homes Sites Homes Lifestyle Rental RESIDENTIAL Ingenia Lifestyle2 5,452 - 23 - - 33% 34% Ingenia
Slide 12: Living Sector
1H26 Results Presentation Living Sector Ingenia Lifestyle Latitude One expansion, NSW 12
Slide 13: Living Sector
Financial Performance & Capital Management Living Sector Ingenia Lifestyle • Land lease communities targeting growing ageing Increasing exposure to land lease communities population • Large development pipeline delivering growth via the creation of new master planned communities • Ingenia Lifestyle,
Slide 14: Land Lease Development
1H26 Results Presentation Land Lease Development Artist’s impression: Ingenia Lifestyle Springside, VIC 14
Slide 15: Land Lease (Lifestyle) Development
Land Lease Development Land Lease (Lifestyle) Development Foundations in place; new projects contributing from 2H26 1H26 1H25 EBIT down on 1H25 reflecting settlements skew to 2H, project mix and increase in JV contribution Focus New home settlements (100% INA) 176 1991 • Total of 176 home settlement
Slide 16: Development Joint Venture
Land Lease Development Development Joint Venture Settlements growth continuing into 2H26 • Total of 72 settlements (up 22% vs pcp) • To contribute over 30% of FY26 settlements • Projects delivering targeted returns • Average gross margin per home 53% • Net cash generation per lot >$100k • Fee income
Slide 17: Inventory levels aligned to demand
Land Lease Development Inventory levels aligned to demand Development activity led by customer demand and sales Only 58 completed homes unsold at 31 December (Ingenia and Joint Venture) Sales initiatives building momentum; good visibility for 2H26 settlements • 254 homes constructed 1H26 • Growing e
Slide 18: Diverse projects and price meeting growing demand
Land Lease Development Diverse projects and price meeting growing demand Demand drivers remain in place – favourable long term fundamentals for living sector • Population growth, with increase in over 50s demographic • Constrained housing supply • Conditions for buyers supported by government incent
Slide 19: Development activity supporting growth targets
Land Lease Development Development activity supporting growth targets Extending pipeline for development and settlements Progressing current projects • Nature’s Edge now complete • Eight communities opened display homes and facilities 1H26 Increasing activity to support 5-year CAGR settlements targe
Slide 20: Lifestyle Rental (land lease and all-age rental)
Lifestyle Rental Lifestyle Rental (land lease and all-age rental) Key Data 1H26 1H25 Total revenue $51.3m $46.2m EBIT $25.7m $24.2m EBIT margin 50% 52% EBIT margin (stabilised)1 - 53% 53% 31 Dec 25 30 Jun 252 Book value – in operation $1,123.5m $1,042.3m Lifestyle & Rental Sites3 8,000 7,000 6,000 5
Slide 21: Ingenia Lifestyle (land lease)
Lifestyle Rental Ingenia Lifestyle (land lease) Rent base growing Continuing to increase rental revenue and manage cost headwinds • New home settlements 1H26, adding $2.1 million revenue per annum • Nature’s Edge now complete • Weighted average rent increase 1H26 of 3.5% on review • 133 resales acro
Slide 22: Ingenia Rental (all age rental)
Lifestyle Rental Ingenia Rental (all age rental) All age ‘built to rent’ experiencing high demand High occupancy and rent growth delivered • Weighted average rent increase 1H26 of 7.9% on review Maximising value and revenue • Added 6 new homes 1H26 – with average rent $500 per week • Approvals in pl
Slide 23: Ingenia Gardens
Gardens Ingenia Gardens Port Macquarie, NSW Ingenia Gardens High occupancy maintained Key Data 1H26 1H25 Total revenue $11.2m $10.8m EBIT $5.8m $5.4m EBIT margin 52% 50% 31 Dec 25 30 Jun 25 Book value $145.2m $140.4m • Margin increased • Average weekly rent up 4% vs pcp to $410 • Ongoing high occupa
Slide 24: Holidays
1H26 Results Presentation Holidays Ingenia Holidays Middle Rock, NSW 24
Slide 25: Ingenia Holidays
Holidays Ingenia Holidays Ingenia Holidays Rivershore, QLD 35 1,583 4,735 1,288 Parks With >7,600 ‘Annual’ sites Tourism Cabins Permanent Homes income generating generating stable and Sites (Rental And sites rents Land Lease) 25
Slide 26: Ingenia Holidays
Holidays Ingenia Holidays Resilient portfolio delivering EBIT growth Key Data 1H26 1H25 Tourism rental income $61.3m $53.9m Residential rental income $6.5m $6.2m Annuals rental income $6.3m $5.6m Total rental income $74.1m $65.7m Other income1 $5.4m $3.6m Ingenia Holidays Townsville, QLD Total incom
Slide 27: Targeted investment in strategic locations
Holidays Targeted investment in strategic locations Enhancing value and leveraging platform Continued investment in densification and portfolio quality driving value creation • Select acquisitions in strategic locations offering significant upside and extending reach • Introduction of new accommodat
Slide 28: Ingenia Holidays
Holidays Ingenia Holidays Strategies delivering growing revenue streams Investment in online presence and marketing yielding results • New website launched March 2025 • Summer direct booking campaign contributed to 15% uplift in website purchases year on year • Strong focus on retention – email auto
Slide 29: Outlook & Guidance
1H26 Results Presentation Outlook & Guidance Ingenia Lifestyle Latitude One expansion, NSW 29
Slide 30: Outlook and Guidance
Outlook & Guidance Ingenia Lifestyle, Outlook and Guidance Delivering on strategy; foundations in place On track to deliver FY26 result at top of guidance range1 • Growth in recurring revenue (operational communities and holiday parks) • Growing residential rents (new homes and contracted rent growt
Slide 31: Questions
1H26 Results Presentation Questions Ingenia Holidays Swan Bay, VIC 31
Slide 32: Appendices
1H26 Results Presentation Appendices Ingenia Lifestyle Sunbury, VIC 32
Slide 33: EBIT by segment and underlying profit
Appendices Appendix 1 EBIT by segment and underlying profit Residential Communities Tourism Other Capital Lifestyle Lifestyle Ingenia Ingenia Fuel, Food ($m) Partnerships1 and Total Development Rental Gardens Holidays and Beverage Corporate2 Rental income - 41.9 10.4 6.5 - - 58.8 Tourism and annuals
Slide 34: Cash Flow
Appendices Appendix 2 Cash Flow 1H26 1H25 ($m) ($m) Opening cash at 1 July 13.4 14.5 • Increase in number of homes and average weekly rent; acquisitions and higher holidays Rental and other property income 164.4 145.6 occupancy and rate • Increase in operating costs in Lifestyle Rental and Holidays;
Slide 35: Consolidated balance sheet
Appendices Appendix 3 Consolidated balance sheet 31 Dec 25 30 Jun 25 ($m) ($m) Cash 9.9 13.4 Inventories 93.1 83.0 • Inventory balance aligned to customer demand Investment properties 2,649.6 2,489.0 • Investment property value reflects capital expenditure for existing and new land lease communities
Slide 36: Portfolio Valuation Summary
Appendices Appendix 4 Portfolio Valuation Summary Weighted Av. Weighted Av. • Independent valuation of 43 assets 1H26 representing 44% of total Dec 252 Net Portfolio Cap Rate Cap Rate portfolio by value (34 assets 2H25) Book Value Revaluation3 Dec 251 Jun 251 • Contracted rent increases and marginal
Slide 37: Lifestyle Rental investment property fair value drivers
Appendices Appendix 5 Lifestyle Rental investment property fair value drivers Development Component – Land lease Investment Property Value • On acquisition of land, the asset is initially recognised in the Development Segment and reflects the initial Primary IP Development - cost of the undeveloped
Slide 38: INA settlements – project value metrics
Appendices Appendix 6 INA settlements – project value metrics • Development profit “above the ground” – reflects the gross development margin (home sales revenue less home COGS) for new homes settled to 31 December • Capex – community infrastructure costs reflect the allocation of total project spen
Slide 39: Joint Venture settlements – project value metrics
Appendices Appendix 7 Joint Venture settlements – project value metrics • Development profit “above the ground” – reflects the gross development margin (home sales revenue less home COGS) for new homes settled to 31 December • Capex – community infrastructure costs reflect the allocation of total pr
Slide 40: Underlying to statutory profit
Appendices Appendix 8 Underlying to statutory profit 1H26 Underlying to Statutory Profit Bridge 140.0 120.0 4.9 6.8 46.4 -1.8 -4.3 100.0 97.4 -16.7 80.0 $m 62.1 60.0 40.0 20.0 0.0 Underlying Profit 1H26 Fair value gain on Share of Joint Venture Transaction costs Revaluation of financial One-off IT P
Slide 41: Contact Us
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 10, 20 Bond Street, Sydney, NSW 2000 www.ingeniacommunities.com.au 1H26 Re
Slide 42: Disclaimer
Disclaimer This presentation was prepared by Ingenia Communities Holdings Limited (ACN 154 444 925) The forward-looking statements included in this presentation involve subjective judgment and and Ingenia Communities RE Limited (ACN 154 464 990) as responsible entity for Ingenia analysis and are sub
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