Winton Land Limited · NZX:WIN
Winton Land — FY2026 Earnings Presentation
26 slides from Winton Land's earnings presentation, Aug 26, 2026
Slide 1: Business Update Annual Results FY26
1. Business Update ANNUAL RESULTS FY26 26 August 2026 INVESTOR PRESENTATION
Slide 2: Presenting Today
Presenting Today Steven Joyce Chair Julian Cook Executive Director Jean McMahon Chief Financial Officer The Bakehouse, Ayrburn 2
Slide 3: Business Update, Financial Overview, Market and Outlook
1. Business Update 2. Financial Overview 3. Market and Outlook Jimmy’s Point, Launch Bay Hobsonville Point 3
Slide 4: Business Update
Ayrburn, Arrowtown BUSINESS UPDATE
Slide 5: Key Highlights
Key Highlights For the 12 months ending 30 June 2026 (FY26): $188.8m 430 481 $27.4m ² Revenue Units delivered and settled Total of gross pre-sales secured shareholders $85.7m 45.4% 335 857 Retirement living units yield Gross profit Gross profit margin Employees ACROSS 5 LOCATIONS $22.7m 12.0% 11 Mas
Slide 6: Business Highlights
Business Highlights Longstanding pre-sale strategy continued to deliver in a mixed property market, with Auckland remaining subdued. A total of 430 units settled. Concluded the land supply agreement with Kāinga Ora that has underpinned the Lakeside, Te Kauwhata development. Completed The Wellnes
Slide 7: Fast-track Approvals
Fast-track Approvals Sunfield and Ayrburn Screen Hub both approved under the Fast-track Approvals Act 2024. Sunfield, Auckland • The Sunfield masterplanned community was approved by the Expert Panel under the Fast-track Approvals Act 2024 on 10 March 2026. • Auckland Council lodged an appeal in the
Slide 8: Significant Landbank Pipeline
Significant Landbank Pipeline Pipeline of c5,400 units remain to be delivered in future years. 5,400+ 1,200 1,000 800 600 553 565 449 430 400 345 247 266 186 171 200 76 - Prior FY18A FY19A FY20A FY21A FY22A FY23A FY24A FY25A FY26A FY27F+ Sunfield, Papakura 8
Slide 9: Continued Momentum
RESIDENTIAL Continued Momentum Settlements by product type FY26 settlements across the residential portfolio. Neighbourhood Units settled Units settled Movement FY26 FY25 9% 2 % Residential Lots Lakeside 317 183 134 Apartments Beaches 2 1 1 FY26 Bridesdale 2 - 2 settlements Commercial by product Nor
Slide 10: Residential Development FY26
RESIDENTIAL Residential Development FY26 Winton’s longstanding pre-sale strategy continues to deliver, FY26 revenue $148.1 million. Northlake • Stages 18B and 18C were completed and titled in FY26 concluding this stage of 125 land lots. There are 41 units remaining which are either contractually pre
Slide 11: Northbrook Wānaka Stage 2 Underway
RETIREMENT Northbrook Wānaka Stage 2 Underway Northbrook Wānaka marked its first birthday on 14 May 2026. • New residents have continued to move in steadily over the past year, with entry prices continuing to track in line with expectations. • The Wellness Spa opened on 4 February 2026, adding a sig
Slide 12: Goodfellows Lakeside
RETIREMENT Goodfellows Lakeside A new lifestyle village in Lakeside, Te Kauwhata for those over 60. The Montgomerie, Goodfellows Lakeside (artist impression) • Goodfellows Lakeside launched on 2 May 2026 with 18 lots released as part of Stage 1. • The village will ultimately comprise 210 standalone
Slide 13: Commercial
COMMERCIAL Cracker Bay continued to establish itself as a distinctive waterfront precinct during FY26. • The modernised office building is now 77% occupied across its four levels, with Level 1 the only floor currently unleased. • The carpark continues to be leased to Secure Parking, providing approx
Slide 14: Commercial
COMMERCIAL • Bravo opened on 26 February 2026, an overwater restaurant and all-day dining venue located on Auckland’s Waitematā Harbour. • For boaties, book-a-berth options are available for patrons arriving by water. Bravo also welcomes families, with a kids’ menu and dedicated play area, and offer
Slide 15: Commercial
COMMERCIAL FY26 marked the first full year with all Ayrburn venues trading. • Hospitality revenue for FY26 was $35.8 million, up 69.4%, reflecting growth of the precinct with all venues operational for the full year. • In 2026, two of Ayrburn’s venues, Billy’s and The Woolshed, were named in the Mic
Slide 16: Financial Overview
Northbrook, Wānaka FINANCIAL OVERVIEW
Slide 17: FY26 Financial Performance
FY26 Financial Performance We have continued to deliver pre-sold properties, complete new projects, and diversify our revenue streams. Financial Performance Statement of Financial Performance FY26 FY25 NZ$m (unless indicated otherwise) Year Ended Year Ended Movement 30-Jun-26 30-Jun-25 • Winton has
Slide 18: FY26 Financial Position
FY26 Financial Position Winton continues to operate with a conservative level of debt in its capital structure. Financial Position Statement of Financial Position FY26 FY25 NZ$m (unless indicated otherwise) As at As at Movement 30-Jun-26 30-Jun-25 • Cash balances remain strong at $38.8 million. Cash
Slide 19: FY26 Statement of Cash Flows
FY26 Statement of Cash Flows Winton maintains a strong cash position. Cashflows Statement of Cashflows FY26 FY25 Year Ended Year Ended NZ$m (unless indicated otherwise) Movement 30-Jun-26 30-Jun-25 • Net operating cashflows have increased by $63.6 million due to additional proceeds from residential
Slide 20: Market and Outlook
Northbrook, Wānaka MARKET AND OUTLOOK
Slide 21: Market and Outlook
Market and Outlook The property market has remained subdued in many parts of New Zealand, particularly Auckland, and the economy has continued to struggle after a short period of optimism at the start of 2026. Building Consents Improving Net migration at record lows (excluding COVID) 5,400 Building
Slide 22: Market and Outlook
Market and Outlook Unemployment continues to increase, and we maintain our view that the residential property market is unlikely to substantially turn around until after unemployment has peaked. Unemployment Continues to Increase, 5.6 as at June 2026 Unemployment Rate, Sep 2010 - Jun 2026 (quarterly
Slide 23: Market and Outlook
Market and Outlook Winton is navigating the wider economic conditions as well as possible, focussing on recurrent income segments of the business, Sunfield and South Island developments. • Unemployment continues to increase, reaching 5.6% as at June 2026 with no clear signs yet of having peaked, and
Slide 24: Questions
Bravo, Cracker Bay QUESTIONS
Slide 25: Winton: Best by Design
WINTON BEST BY DESIGN
Slide 26: Important Notice and Disclaimer
DISCLAIMER Important Notice and Disclaimer This disclaimer applies to this document and the accompanying material (“Document”) or any information contained in it. The information included in this Document should be read in conjunction with the audited consolidated financial statements for the year e