Stockland 1H26 Result
| Stock | Stockland (SGP.ASX) |
|---|---|
| Release Time | 16 Feb 2026, 8:36 a.m. |
| Price Sensitive | Yes |
Stockland 1H26 result reflects disciplined execution and higher development settlements
- Statutory profit of $292m, up 19.3%
- Post-tax Funds From Operations (FFO) of $325m, up 29.5%
- Strong performance in Masterplanned Communities and Land Lease Communities
During the six months to 31 December 2025, Stockland delivered a strong financial performance with a significant increase in production levels across the development platform. The result was underpinned by a material uplift in Masterplanned Communities settlement volumes, higher Development fee income and a resilient performance from the Logistics and Town Centre portfolios. Funds from Operations (FFO) for the period was $325m, compared with $251m in the prior corresponding period. FFO per security was 13.5 cents, up 28.6%. Statutory profit of $292m compares with $245m for 1H25, with the result for 1H26 including a positive net investment property revaluation movement of $32m. Investment Management delivered FFO of $296m, broadly in line with the prior corresponding period, reflecting operational growth and the benefit of project completions. The Development segment delivered FFO of $106m, up from $36m on the prior corresponding period with a significantly higher contribution from Masterplanned Communities as well as increased management income from partnerships. Stockland finished the period in a strong financial position with gearing at 28.1%, within the Group's target range of 20% to 30%. The distribution for 1H26 is 9.0 cents per security post tax, compared with 8.0 cents per security in 1H25.
FY26 FFO per security of between 36.0 and 37.0 cents, and FY26 distribution per security expected to be 25.2 cents per security, in line with FY25.
Stockland remains well positioned heading into the second half of FY26, supported by strong operational momentum and a disciplined approach to capital management. Development earnings and operating cash flow are expected to be materially weighted to the second half, reflecting the timing of settlements across the residential platforms. Gearing is expected to moderate toward the midpoint of the target range by 30 June 2026.