Half Year 2026 Peet Ltd Earnings Call Transcript
Key Points
- Net profit after tax increased by over 100% to $50.9 million for the first half of FY26.
- EBITDA margin improved significantly from 26% to 34%.
- Gearing reduced to 24.7%, placing the company in a strong financial position.
- Declared a dividend of $6.05 per share, reflecting strong operational results.
- Strong sales and settlements with just under 1800 sales and 1500 settlements in the first half.
- Housing supply remains severely constrained, which could impact future growth.
- Recent interest rate rise poses a potential risk to borrowing environments.
- Victoria and the ACT/New South Wales regions are currently small contributors to earnings.
- First half skew in earnings due to timing, which may affect second-half performance.
- The company's performance is heavily reliant on favorable conditions in WA and Queensland, which may not be sustainable long-term.
Thank you, Michelle, and welcome to everyone who's joined the call. It's my pleasure to present Peet's first half of FY26 financial results to you today with me is Mark Winkworth, our Chief Financial Officer.
Next slide, please, Michelle.
Thank you. So today I'm going to walk you through a high-level summary of the first half results. We're going to look at some key profit, cash flow, and balance sheet metrics for the half.
Then I will show you the primary operating drivers of our results, where our earnings are coming from a business segment and from a geographic perspective, and then I'll conclude with some, Comments around how we see the balance of FY26 and FY27 looking.
So next slide please, Michelle. So, in front of you now are our first half financial highlights, and I think it's fair to say it's a pretty strong result, just picking on a few of those items in front of you, net profit after tax of $50.9 million for the first half. That's up just over 100% on first half last year.
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