• Statutory profit up 106% to $87.6 million
• Underlying profit up 58% to $68.8 million
• Delivered 258 new home settlements, up 48% on prior period

Ingenia Communities Group has reported a strong financial performance for the first half of FY25, with statutory profit up 106% to $87.6 million and underlying profit up 58% to $68.8 million. The Group delivered 258 new home settlements, a 48% increase on the prior period, driven by strong demand for its lifestyle offering and improved efficiencies in home production. Earnings before interest and tax (EBIT) increased 48% to $86.2 million, primarily due to growth in the Lifestyle Development segment and the Joint Venture. The Group's Lifestyle Rental and Ingenia Holidays portfolios also contributed to the improved results, with permanent rental income growing 15% and tourism rental income increasing 5%. The Group's net asset value (NAV) per security increased 4% to $3.86 and net tangible assets per security (NTA) increased 4% to $3.85. The Group continues to focus on accelerating the transition from an aggregator of land and assets to an operationally efficient developer and operator, with 15 land lease communities currently underway and additional communities commencing development over FY25-26.

The Group expects to deliver continued growth in FY25, with a focus on driving efficiencies, enhancing resident and guest experiences, and expanding its development pipeline.

Ingenia Communities Group is well-positioned for further expansion through development, with a strong pipeline of 5,225 potential new home sites across Ingenia and its joint venture. The Group will also look to expand its portfolio where feasible, while maintaining a focus on operational efficiency, sustainability, and delivering an outstanding experience for residents and guests.