Ingenia Communities Group

INA: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$1.80	Bsll	Xrcvqslfz

Ingenia Earnings: Defying Housing Cyclicality; Rewarded With Double-Digit EPS Growth

Esther Holloway

Aug 23, 2024

Ingenia’s fiscal 2024 underlying earnings per share of AUD 0.23 was 14% higher than the prior year, exceeded the guidance range, and was 10% above our expectations. Underpinning the result was 462 new home settlements, up 24%, and 7% higher than our estimate. Revenue of AUD 472 million, a lofty 20% higher than the previous year, was driven by pricing growth across all segments, including 24% growth in average home sales prices. Full-year distributions of AUD 0.11 were 3% higher than fiscal 2023.

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