Ingenia Communities announces the Group's 1H22 Results

Ingenia Communities announced the Group’s 1H22 result on 22 February. In a period of transformational growth, over $500 million of acquisitions were completed, increasing total assets by 48% on FY21. The Lifestyle Rental business grew EBIT by 26% on 1H21, with further growth secured through a ~50% increase in the development pipeline to 6,270 potential home sites.

Holiday park revenue and settlements were impacted by COVID in the first half resulting in revenue growth of 8% and EBIT down 16% on 1H21.

The Group closed the period with a strong balance sheet, growing momentum and accelerating demand. Holidays demand has rebounded strongly, and 354 homes are under construction, supporting the Group’s FY22 home settlements target of 475+ homes.

A distribution of 5.2 cents per security (up 4% on 1H21) will be paid on 24 March. FY22 guidance was reaffirmed.

Further information on the result can be found on the Group’s website.