Stockland · ASX:SGP
Stockland — FY2025 Earnings Presentation
32 slides from Stockland's earnings presentation, Aug 20, 2025
Slide 1: Stockland
¥ Stockland
Slide 2: Acknowledgement of Traditional Custodians
Stockland acknowledges the Traditional Custodians and knowledge-holders of the land on which we live, work and play. We recognise and value their continued and inherent connection to land, sea, culture and community. We also pay our respects to their Elders past and present and extend that respect t
Slide 3: Agenda
Agenda Group update Tarun Gupta Managing Director & CEO Financial results Josh McHutchison Chief Financial Officer Investment Management Kylie O’Connor CEO, Investment Management Development Andrew Whitson CEO, Development Summary and outlook Tarun Gupta Managing Director & CEO FY25 Results 3
Slide 4: Group update
Image to be updated Group update Tarun Gupta Managing Director & CEO Artist impression, Calderwood CalderwoodValley, Valley , NSW
Slide 5: FY25 results
FY25 results Strategic execution delivers strong performance Funds From Operations (FFO) FFO per security $808m 33.9c Investment Up 2.8% on FY24 Up 2.7% on FY24 Management Development Distribution per security Statutory profit NTA per security Portfolio value Pipeline – residential lots 25.2c $826m
Slide 6: FY25 strategic momentum
FY25 strategic momentum Strong execution of strategy Reshape portfolio Accelerate pipeline Scale partnerships Sustainable growth • Recycled ~$289m Logistics assets • Launched ten projects across MPC, LLC • Established three new partnerships: • Disciplined capital management and Apartments • Secured
Slide 7: Positioned for sustainable growth
Positioned for sustainable growth Funding our strategic priorities Growth drivers Funding growth Portfolio reweighted to high value sectors Reshape portfolio Demonstrated ability to source institutional capital - 53% of NFE allocated to Residential and Logistics - $2.9bn3 of third-party equity r
Slide 8: ESG, People and Capability
ESG, People and Capability Progress against key ESG targets Investing in our people Net Zero Launched My Stock employee security ownership plan Net Zero Scope 1 & 2 in 20251: On track • More than 80% of eligible employees are securityholders • Partnership with Energy Bay driving emissions reduction;
Slide 9: Financial results
Financial results Josh McHutchison Chief Financial Officer Stockland Horizon, VIC Artist's impression
Slide 10: Funds from operations
Funds from operations Result at the top end of guidance FY25 ($m) FY24 ($m) Change (%) • Comparable1 FFO growth of 3.0% across the portfolio. FFO reflects capital recycling during Investment Management FFO 591 630 (6.3)% FY24 and FY25 • Strong MPC settlement volumes, higher LLC settlements and incre
Slide 11: Capital management
Capital management Strong balance sheet position Key Metrics FY25 FY24 • Ongoing capital recycling with ~$289m of Logistics Available liquidity (cash and undrawn facilities) $2.9bn $3.1bn disposals Gearing1 25.2% 24.1% • Substantial available liquidity of ~$2.9bn Gearing (look-through)1 26.5% 25.0%
Slide 12: FY25 operating cashflows
FY25 operating cashflows Operating Cashflow1 Operating Cashflow before land acquisitions1 Prudent cashflow management: $328m $626m • FY25 operating cashflow reflects a material 2H $114m in FY24 $900m in FY24 improvement: - 2H25 Operating Cashflow $515m vs 1H25 $(187)m Cash movements between FY24 and
Slide 13: Investment Management
Investment Management Kylie O’Connor CEO, Investment Management Stockland Sienna Wood, WA Artist’s impression
Slide 14: Investment Management
Investment Management Well positioned portfolio delivering strong performance • Strong comparable1 FFO growth of 3.0% driven by: - 7.1% comparable1 FFO growth in Logistics and 3.2% comparable1 FFO growth in Town Centres - Positive re-leasing spreads negotiated across each of the Logistics, Workplace
Slide 15: Logistics
Logistics Leasing spreads drive another period of strong growth • Portfolio FFO reflects strong operational growth and contribution from development completions, partly offset by asset disposals and transfers into new partnerships • Comparable1 FFO growth of 7.1%, driven by: Portfolio value - Positi
Slide 16: Workplace
Workplace Majority of the portfolio being prepared for repositioning • Portfolio FFO reflects the impact of several assets being held for redevelopment • Comparable1 FFO of (2.2)%, reflects higher vacancy in the Perth and Macquarie Park markets Portfolio value • Limited scale of the portfolio leads
Slide 17: Town Centres
Town Centres Essentials-based portfolio continues to deliver $m FY25 FY24 • FFO reflects $690m of non-core asset disposals during FY246 Town Centres FFO $319m $359m • Comparable7 FFO growth of 3.2% Portfolio value $4,680m $4,495m Occupancy1 99.0% - Re-leasing spreads of 3.0%5 marking four consecutiv
Slide 18: Communities Rental Income
Communities Rental Income Growing high quality income streams • Rental income of $21m, up ~20% on the prior year, primarily driven by a higher number of LLC operational homesites • Established LLC assets FFO - 526 settlements during the period - Portfolio of 3,325 home sites with a stable net operat
Slide 19: Valuations underpinned by rental growth
Investment Management Valuations underpinned by rental growth from diversified portfolio Net valuation movement $197m 1,2 Logistics Workplace Town Centres 79%3 of assets independently revalued during FY25 2.0% increase on 30 June 2024 book value Net valuation movement1: Net devaluation movement1: Ne
Slide 20: Strategic long-term partnerships; three new capital partners
Investment Management Strategic long-term partnerships; introduced three new capital partners • Stockland and John Boyd Properties partnership • Two logistics partnerships: - 50/50 partnership with John Boyd Properties - Introduced M&G Real Estate and KKR to the platform - Development of 18.3-hectar
Slide 21: Development
Development Andrew Whitson CEO, Development Yarrabilba, Sienna Wood Future Town Centre,QLD , WA
Slide 22: Development
Development Activation and new partnerships drive strong FFO growth Strong performance in residential development with solid fee income from partnerships: • MPC settlements of 6,8651 lots at 22.9% development operating profit margin Residential pipeline • LLC settlements of 526 homes at 22.0%2 devel
Slide 23: Masterplanned Communities
Masterplanned Communities Strong settlement volumes exceed target range • Delivered 6,865 settlements, above the target range of 6,200 – 6,700 settlements: - Includes 3,216 settlements under joint venture or project development agreements - Settlement volumes from the acquired MPC portfolio exceeded
Slide 24: Masterplanned Communities: Sales momentum building
Masterplanned Communities Sales momentum building Net sales by quarter • Net sales up 20% to 5,728, underpinned by a stronger 2H25: 1,947 1,868 1,848 - New releases and further project activation, including from the acquired MPC portfolio 180 250 1,562 250 1,545 1,509 1,363 - Improving trading condi
Slide 25: Australian residential market
Australian residential market 12-month outlook State Price Volumes Market commentary Market outlook • Pent-up demand, monetary easing and improving buyer conversion are expected to drive a volume recovery • As demand and supply move toward more balanced NSW conditions, the market outlook will be inc
Slide 26: Land Lease Communities
Land Lease Communities Scaling into a leading platform • Delivered 526 home settlements, up from 444 in FY24 FFO EBIT3 - Above the revised expectation of ~500 settlements, but below the original FY25 target of 600-650 settlements due to QLD weather events and lower sales in VIC in 3Q25 $60m $66m • F
Slide 27: Land Lease Communities: Project activation driving sales
Land Lease Communities Project activation driving increased sales • Actively trading from 15 projects in four Australian states: Net sales by quarter 179 - Five1 new communities launched in FY25 6 • Sustained demand reflected in: 136 131 135 135 138 7 6 13 121 111 - Net sales of 573 homes, up 19% on
Slide 28: Logistics development
Logistics development Progressing1 ~$9.7bn Sydney-centric pipeline to drive growth Logistics Kemps Creek, NSW Yennora Intermodal, NSW Kogarah Golf Club site, NSW ~$9.7bn2 Greenfield and infill brownfield projects in deep markets across the Eastern Seaboard ~$1.2bn2 active projects Project overview P
Slide 29: Town Centres and Community Real Estate
Town Centres and Community Real Estate ~$1.2bn pipeline with strong growth potential Town Centres Sienna Wood, WA The Gables, NSW Community Real Estate ~$0.7bn1 ~$0.5bn1 Emerging portfolio of build-to-hold Essentials-based amenity across MPC community assets including childcare and LLC communities a
Slide 30: Summary and outlook
Summary and outlook Tarun Gupta Managing Director & CEO Halcyon Wildflower, WA
Slide 31: Outlook and guidance
Outlook and guidance Outlook • Disciplined execution of strategy translating to strong operational and financial outcomes • Business poised for material uplift in production from FY26 across MPC, LLC and Logistics • Multiple drivers of longer-term growth including incremental opportunities in Data C
Slide 32: Important Notice
Important Notice This Presentation and its accompanying Annexures (“Presentation”) has been prepared and issued by Stockland Corporation Limited (ACN 000 181 733) and Stockland Trust Management Limited (ACN 001 900 741; AFSL 241190) as Responsible Entity for Stockland Trust (ARSN 092 897 348) (“Stoc