• Delivered strong financial performance with FFO per security up 2.7% and distribution per security up 2.4%
• Accelerated pipeline with 10 new projects launched and 82% of MPC and LLC pipeline active
• Scaled partnerships with 3 new high-quality partnerships formed, driving higher fee income
• Positioned for sustainable growth through disciplined capital management and ongoing capital recycling

Stockland's FY25 results presentation highlights the company's strong financial performance, strategic execution, and positioning for sustainable growth. The key points include:Delivered strong financial performance: Stockland reported FFO per security up 2.7% and distribution per security up 2.4% compared to the prior year. This was driven by comparable FFO growth of 3.0% across the portfolio, as well as strong performance in the Development business.Accelerated pipeline: Stockland launched 10 new projects across its MPC, LLC, and Apartments portfolios, with 82% of the MPC and LLC pipeline now active compared to 71% in the prior year. The company also commenced $500m of Logistics, Town Centres, and Community Real Estate developments.Scaled partnerships: Stockland formed three new high-quality partnerships, including a 50/50 partnership with John Boyd Properties to develop a $3.5bn+ multi-storey logistics hub, and two new Logistics partnerships with M&G Real Estate and KKR. This has driven higher fee income, which increased from $28m in FY21 to $99m in FY25.Positioned for sustainable growth: Stockland demonstrated its ability to source institutional capital, with $2.9bn of third-party equity raised since FY22. The company also maintained a strong balance sheet position, with gearing within the target range and $2.9bn in available liquidity.Overall, Stockland's FY25 results presentation showcases the company's strategic execution and positioning for continued growth, underpinned by a disciplined approach to capital management and ongoing capital recycling.

Stockland expects FFO per security to grow by 3-5% in FY26, with a distribution per security of 25.2 cents, in line with FY25.

Stockland is well-positioned for sustainable growth, with a focus on reshaping its portfolio, accelerating its development pipeline, scaling its partnerships, and maintaining a strong balance sheet. The company is targeting a payout ratio of 60-80% of FFO from FY26 onwards to drive further growth.