Cedar Woods Properties Limited · ASX:CWP
Cedar Woods Properties — FY2026 Earnings Presentation
27 slides from Cedar Woods Properties's earnings presentation, Aug 25, 2026
Slide 1: FY26 Full Year Results
FINANCIAL RESULTS FY26 Full Year Results Greville, QLD
Slide 2: Agenda
AGENDA 1. Company Overview 03 2. FY26 Results Summary 04 3. About Cedar Woods 05 4. Financial Performance 09 5. Market Conditions 12 6. Our Portfolio 15 7. Acquisitions 21 8. Outlook 22 9. Appendices 24 Hudson Hub, VIC
Slide 3: Company Overview
Fletcher's Slip, SA COMPANY OVERVIEW Long established property company with unrivalled financial performance track record Property development company with a long track record of delivering earnings growth & Strong balance sheet with conservative gearing consistent shareholder returns Portfolio of 36
Slide 4: FY26 Results Summary
Flourish, WA FY26 RESULTS SUMMARY Strong, dependable financial performance $65.6m NET PROFIT AFTER TAX $502.4m TOTAL REVENUE 77.9¢ EARNINGS PER SHARE 39.0¢ DIVIDENDS PER SHARE 36% on pcp 8% on pcp 33% on pcp 34% on pcp 1,326 NET SALES $830m PRESALE CONTRACTS 1,068SETTLEMENTS 1,184 ACQUISITION
Slide 5: Our Strategy
OUR STRATEGY Driving growth through portfolio diversification To grow our national project portfolio, diversified by geography, product type & price point, so that it continues to hold broad customer appeal & performs well in a range of market conditions Geography Product Type Price Point Good geograp
Slide 6: Business Model
BUSINESS MODEL How we create value Acquisitions Development Marketing & Sales Disciplined approach to Research, design, Integrated approach to property acquisitions planning & delivery optimise results • Tactical & research-based • Deliver master-planned projects • Positioning projects to maximise d
Slide 7: Partnerships
PARTNERSHIPS • Some future acquisitions to be undertaken in partnership • 2 major partnering arrangements – QIC & Tokyo Gas Real Estate (TGRE) Increase Earnings Improve Returns Leverage Expertise Recurring Income Diversify Funding Accelerate growth & profitability Return metrics improved Greater util
Slide 8: ESG Highlights
ESG HIGHLIGHTS Innovation & sustainability National relationship with the Reported FY26 Scope 1 & 2 embedded across projects, Smith Family, supporting the emissions of 71 tCO2-e & including the Eglinton education of disadvantaged progressed readiness for microgrid & several students each year mandat
Slide 9: Financial Performance
FINANCIAL PERFORMANCE 09 FY26 Full Year Financial Results Somerley, VIC
Slide 10: FY26 Result in Detail
FY26 RESULT IN DETAIL Net Profit After Tax up 36% Revenue 8% higher in FY26 due to 1 improved pricing & different product mix 30 June 2026 30 June 2025 $m $m Gross margin improved to 30% 2 Revenue 502.4 465.9 from 28% in FY25 Cost of sales / services (347.8) (333.7) Gross Profit 154.4 132.3 Project op
Slide 11: Capital Position
CAPITAL POSITION Strong balance sheet with low gearing & significant long term funding capacity 30 June 2026 30 June 2025 Total assets (book value) $884m $858m Net assets (equity) $544m $489m Net tangible assets per share (book value not market value) $6.35 $5.90 Net bank debt $157.7m $125.6m Net ban
Slide 12: Market Conditions
MARKET CONDITIONS 12 FY26 Full Year Financial Results Mason Quarter, VIC
Slide 13: Enquiries & Sales Performance
Bushmead, WA ENQUIRIES & SALES PERFORMANCE ENQUIRY BY QUARTER • Received a record 30,137 enquiries during FY26, up 25% on the 24,142 received in FY25 • Gross sales increased 5% to a record 1,521 lots, homes & offices, compared with 1,443 in the prior year • Affordable & mid-priced land projects were
Slide 14: Housing Sector Outlook
Flourish, QLD HOUSING SECTOR OUTLOOK • Property market currently moving through a slowdown • Weaker conditions to persist for much of FY27 • Demand still present, but buyers currently cautious • Buyer confidence expected to return when interest rates peak or begin to reduce • The undersupply of housi
Slide 15: Our Portfolio
OUR PORTFOLIO 15 FY26 Full Year Financial Results Ariella, WA
Slide 16: Diversified Portfolio
Eglinton Village, WA DIVERSIFIED PORTFOLIO • Portfolio of 36 quality projects & total pipeline of 9,600+ lots/apartments to support future earnings • Good mix of product, price points & locations • Broad customer base, but with first home buyers dominant & benefitting from Government incentives • Incr
Slide 17: Western Australia
WESTERN AUSTRALIA Strong economic conditions & chronic undersupply of housing • 9 projects & total of 3,240 lots / dwellings • 140 settlements from WA in H2 FY26 • Product types: land estates, townhouses & apartments • Demand continues to be underpinned by strong State economic conditions, interstat
Slide 18: Victoria
VICTORIA Sales & pricing expected to improve during FY27 • 13 projects, including 4 at Williams Landing • 2,672 lots / dwellings / offices plus 10ha of mixed-use sites • 270 settlements from VIC in FY26 • Product types: land estates, townhouses, apartments & commercial • North Melbourne townhouses &
Slide 19: Queensland
QUEENSLAND Strong economic conditions & structural undersupply of housing • 8 projects, including 3 at Greville • 2,133 lots / dwellings in pipeline • Product types: land estates, townhouses & apartments • 338 settlements from QLD in FY26 • Demand underpinned by strong interstate migration, low hous
Slide 20: South Australia
SOUTH AUSTRALIA Proven, high performing projects selling into an undersupplied market • 6 projects in production across residential land, townhouses & apartments • 1,606 townhouses, apartments & residential lots remaining across the SA portfolio • Glenside remains a major contributor, with one proje
Slide 21: Acquisitions
ACQUISITIONS Significant acquisitions activity in FY26 & FY27 so far, to replenish & grow the portfolio & support future earnings • In early FY26, the Company embarked upon an accelerated acquisitions strategy. This was effectively executed with 6 sites secured • In July 2026, Cedar Woods has contrac
Slide 22: Outlook
OUTLOOK 22 FY26 Full Year Financial Results Millars Landing, WA
Slide 23: Outlook
OUTLOOK • Structural undersupply of housing across Australia & across REVENUE AND PRESALES $m product types will continue to support the new housing sector • Interest rates forecast to fall in 2027 which is expected to improve affordability, sentiment & sales volumes • Presales contracts of $830m as
Slide 24: Appendices
APPENDICES 24 FY26 Full Year Financial Results Corio, VIC
Slide 25: Investment Summary
INVESTMENT SUMMARY Compelling value proposition 1. High quality portfolio • 36 projects with over 9,600 lots diversified across States & product • Peak margins yet to be reached at many long life projects 2. Strong growth outlook • FY27 NPAT guidance: 15% growth on FY26 • Outlook underpinned by presa
Slide 26: Project Pipeline
PROJECT PIPELINE Leve son V IC 26 FY26 Full Year Financial Results
Slide 27: cedarwoods.com.au
cedarwoods.com.au DISCLAIMER OF LIABILITY: While every effort is made to provide complete and accurate information, Cedar Woods Properties Limited does not warrant or represent that the information in this presentation is free from errors or omissions or is suitable for your intended use. Subject to
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