• Revenue up 21% to $256.9 million
• EBIT up 48% to $86.2 million
• Underlying EPS up 58% to 16.9 cents

Ingenia Communities Group (ASX: INA) today announced underlying profit of $68.8 million, up 58% on 1H24, with a material increase in home settlements and the lifestyle rental and holidays businesses each delivering growth. Statutory profit of $87.6 million for the half-year ending 31 December 2024 was up 106%. Group revenue was up 21% to $256.9 million, and EBIT was up 48% to $86.2 million. Operating cash flow of $73.4 million represented an increase of 236% on prior corresponding period. A total of 258 new home settlements were achieved in 1H25, up 47% on 1H24, with an increase in the average home sales price and margin, primarily due to project mix. Ingenia's Lifestyle Rental portfolio benefitted from rental increases and growth in the rent base as developments added to the established new homes annuity stream, delivering EBIT up 14% to $24.2 million. The Group's holiday park earnings were up 3% on the prior corresponding period to $28.6 million, with increases in rate and occupancy and investment in new cabin stock contributing revenue growth, which was partially offset by one-off infrastructure costs and investment in marketing, including development of a new website. Underlying EPS of 16.9 cents represents a 58% increase on 1H24. A half-year distribution of 5.2 cents per stapled security has been declared and is expected to be paid on 27 March 2025.

The Group is on track to deliver upgraded FY25 guidance, with an EBIT target of $162 - $165 million, up from $148 - $155 million and an underlying EPS target of 29.0 to 30.0 cents, up from 24.4 cents to 25.6 cents.

Development activity is accelerating and benefiting from a clear focus on improving financial returns and an integrated structure with clear accountability. The outlook for domestic travel and the caravan and camping sector remains positive and forward bookings for the next twelve months are up 14% on the prior corresponding period.