Lendlease Group (LLC) Q2 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:01.567 -- 00:00:07.135 Good morning and thank you for joining the LendLeaf 2026 Half-Year Results presentation. 00:00:07.135 -- 00:00:12.904 I'm Tony Lombardo, Group Chief Executive Officer and Managing Director of LendLeaf. 00:00:12.904 -- 00:00:17.470 With me is Simon Dixon, Group's Chief Financial Officer. 00:00:17.470 -- 00:00:22.197 Sitting here at Barangaroo in Sydney, we're on the land of the Gadigal people and I extend 00:00:22.197 -- 00:00:26.023 my respects to their elders past and present. 00:00:26.023 -- 00:00:31.064 Today I'll provide an overview of our Half-Year 2026 results 00:00:31.064 -- 00:00:36.912 Some will talk through the financials and I will then cover the outlook and strategy. 00:00:36.912 -- 00:00:40.133 We'll then open for questions. 00:00:41.037 -- 00:00:43.640 Starting on slide four, 00:00:43.640 -- 00:00:48.767 FY26 is a transitional year for Lendlease as the strategy reset announced in 00:00:48.767 -- 00:00:50.789 May 2024 00:00:50.789 -- 00:00:54.051 continues to be executed. 00:00:54.214 -- 00:01:00.619 There are three core components of the strategy that I want to highlight today. 00:01:00.663 -- 00:01:06.251 The group is being repositioned to focus on our market-leading Australian operations 00:01:06.251 -- 00:01:09.174 and international investments platform, 00:01:09.174 -- 00:01:14.301 reported as Investments Development and Construction or IDC. 00:01:14.301 -- 00:01:19.588 These businesses have historically delivered double-digit returns on equity through 00:01:19.588 -- 00:01:25.133 the cycle and continue to show strong operating momentum. 00:01:25.672 -- 00:01:31.019 The other core element of our strategy was the establishment of the Capital Release Unit 00:01:31.019 -- 00:01:32.662 or CRU 00:01:32.662 -- 00:01:37....