Ingenia Communities Group Limited (ASX:INA) Managing Director & CEO Simon Owen and CFO Scott Noble present the company's half year 2020 results.Highlights:–
Financial:
- Revenue of $116.9 million – up 25% on 1H19
- EBIT $32.2 million – up 40% on 1H19
- Underlying EPS 10.7 cents – up 32% on 1H19
Operations:
- Rental revenue continuing to grow – up 13% on 1H19 to $49.8 million
- Continuing Ingenia Lifestyle margin expansion – up 110 basis points to 40.4%
- Ingenia Holidays revenue up 14% on 1H19
Development:
- Settled 140 new homes - up 22% on 1H19
- Average home price up 16% to $420,000
- Sector leading development pipeline –4,260 potential home sites owned or secured
Strategy:
- Key strategic priority is positioning for scale and sector leadership
- Rental base increased by 12% – now 8,290 sites generating stable cash flows
- Considerable capital management optionality including Funds Management and development Joint Venture with Sun Communities
For more information, view the presentation with Managing Director & CEO Simon Owen and CFO Scott Noble.
