INGENIA COMMUNITIES GROUP 20 June 2017
Ingenia sales momentum points to strong FY18
Highlights
Target of 190 new home settlements for FY17 now achieved
On track to deliver EBIT guidance of $30 million for FY17
Expect FY18 settlements in the range of 260-280 new homes
EBIT guidance of $42 - $46 million for FY18, subject to no material change in market conditions
Ingenia Communities Group (ASX:INA) today announced that as at 15 June the Group had achieved its FY17 target of 190 new home settlements across the Group's Lifestyle Communities business, with 191 settlements completed and a further 19 contracted sales due to settle in June or early July. This result underpins delivery of the Group's FY17 EBIT guidance, of $30 million.
Ingenia's CEO, Simon Owen, said the Group was well positioned to continue to deliver strong growth in settlements in FY18, with 136 homes contracted or deposited at 15 June.
"It is pleasing to report that we are continuing to see strong interest in our projects and that our development business is continuing to build momentum. May 2017 represented our strongest month for new home sales on record with 34 settlements achieved for the month."
With an average sale price for settled homes of over $300,000 year to date the Group expects to deliver an average gross profit per home of approximately $100,000 (subject to final sales mix).
"As we move into FY18 we will launch four new key greenfield and large scale expansion projects, further diversifying our sales base and contributing to a target of 260-280 settlements for the year. The expected increase in sales and the addition of new assets and rental contracts to our operating business support our target for increased EBIT (in the range of $42-46 million) for FY18."
Level 9, 115 Pitt St, Sydney
NSW 2000, Australia
T 1300 132 946
E investor@ingeniacommunities.com.au
www.ingeniacommunities.com.au
Mr Owen said the Group had assembled a valuable capital city and coastal land bank to support ongoing sales growth into FY19 and was continuing to invest in its development and sales platform to position the Group for a multi-year growth strategy.
Ingenia will provide the final full year FY17 settlements and an update on the Group's outlook and guidance with the release of Ingenia's full year results on 22 August 2017.
Further information on the Group's outlook and Ingenia's growth strategy in Western Sydney is found in the Investor Tour information released to the market today.
ENDS
For further information please contact: Donna Byrne Group Investor Relations Manager P 02 8263 0507 M 0401 711 542 |
Ingenia Communities Holdings Limited (ACN 154 444 925), Ingenia Communities Fund (ASRN 107 459 576) and Ingenia Communities Management Trust (ARSN 122 928 410). The Responsible Entity for each scheme is Ingenia Communities RE Limited (ACN 154 464 990) (AFSL415862). |
Level 9, 115 Pitt St, Sydney
NSW 2000, Australia
T 1300 132 946
E investor@ingeniacommunities.com.au
www.ingeniacommunities.com.au
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Ingenia Lifestyle Lara
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INGENIA COMMUNITIES GROUP
2017 Investor Tour20 June 2017
Table of Contents
Simon Owen, CEO- Business Overview
- Strategy
- Guidance Update
- Development Overview Owen Burnie, Senior Development Manager
- Structure and Process
- Supply Chain
- Evolution of Development
- Project Updates
- Avina Kate Melrose, General Manager Project Sales
- Increasing Momentum
- The Foundation of Growth
- Case Studies
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Ingenia Communities Holdings Limited published this content on 20 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 June 2017 23:31:13 UTC.
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