INA.ASX: Guidance Affirmed at Top of Range with Second Half Skew

Guidance Affirmed at Top of Range with Second Half Skew

Stock	Ingenia Communities Group (INA.ASX)
Release Time	24 Feb 2026, 9:43 a.m.
Price Sensitive	Yes

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Ingenia Affirms Guidance at Top of Range, Second Half Skew

Key Points

5-Year Plan delivering 10-15% settlements CAGR
Development settlements accelerating in 2H26, 2481 new homes settled 1H26
On track to deliver FY26 result at the top of guidance range - EBIT of $180.5 to $188.7 million and underlying EPS of 32.5c to 34.0c

Full Summary

Ingenia Communities Group (ASX: INA) has announced its first half results for FY26, reporting an underlying profit of $62.1 million and underlying EPS of 15.2 cents, down 10% on the prior corresponding period. This was impacted by a second-half settlements skew, the absence of DMF income, increased interest expense, and a normalisation of the effective tax rate. The Group delivered a solid operational performance driven by diverse revenue streams, growth in occupied sites, contracted rent growth, and improved holidays occupancy and rate. Statutory profit of $97.4 million for the half year was up 11%. The Group remains on track to deliver the FY26 result at the top of its guidance range, with EBIT of $180.5 to $188.7 million and underlying EPS of 32.5c to 34.0c. Development activity is expected to further pick up in the second half, with 13 active projects in market and eight new projects commencing this financial year. The Group's Lifestyle Rental portfolio benefitted from annual rental increases and growth in the rent base, while the Holidays segment delivered a strong underlying performance, with tourism rental income up 14% and EBIT up 10%. The balance sheet remains well positioned, with gearing at 31.1% and no debt expiring before January 2027.

Guidance

EBIT of $180.5 to $188.7 million and underlying EPS of 32.5c to 34.0c for FY26.

Outlook

Ingenia moves into the second half with a clear pathway to projected growth targets and enhanced returns. The business is on track to deliver the FY26 result at the top of the guidance range, reflecting the emerging benefits of a clear strategic plan. Industry demand drivers remain in place, with an ageing population, lack of housing supply, and desire for affordable living. Continuing strong performance is expected from the Holidays segment, with the opportunity for organic growth through densification and targeted marketing.