• Funds From Operations (FFO) up 29.5% to $325m
• FFO per security up 28.6% to 13.5 cents
• Statutory profit of $292m, up 19.3% on 1H25

Stockland has reported a strong set of financial results for the first half of fiscal year 2026. Funds From Operations (FFO) increased by 29.5% to $325m, driven by a robust performance in the company's Masterplanned Communities (MPC) business and solid fee income from partnerships. FFO per security grew 28.6% to 13.5 cents. The company's statutory profit also increased by 19.3% to $292m, including a $32m net fair value gain. Stockland's Investment Management division delivered comparable FFO growth of 3.7%, with positive leasing spreads across the Logistics, Workplace, and Town Centres portfolios. The Development business saw a significant uplift in FFO, with MPC settlements up 87% and a strong pipeline of residential and commercial projects. Stockland's balance sheet remains in a strong position, with available liquidity of around $2.1bn and gearing expected to move towards the midpoint of the 20-30% target range. The company has also made progress on its sustainability agenda, achieving net zero scope 1 and 2 emissions and continuing to invest in renewable energy and emissions reduction initiatives.

Stockland expects to deliver a distribution per security of 25.2 cents in FY26, in line with FY25.