Half Year 2026 LendLease Group Earnings Call Transcript
Key Points
- Lendlease Group (LLESF) has made significant progress in its capital recycling initiatives, completing or announcing $2.8 billion of CRU capital recycling initiatives.
- The company maintains a strong financial position with $3.3 billion of liquidity, providing flexibility for capital recycling.
- The Construction segment showed strong revenue growth of 22%, driven by new project commitments and commencements.
- Lendlease Group (LLESF) has secured more than $4.7 billion in new Australian Development projects in the first half, positioning it well to achieve its $10 billion target for the financial year.
- The company's investments platform continues to grow, with more than 80 investors and $2.8 billion of capital available for deployment across existing mandates.
- Lendlease Group (LLESF) reported a statutory loss of $318 million for the half year, including significant non-cash negative investment property revaluation and impairment.
- The IDC segment EBITDA decreased significantly from $341 million to $204 million due to limited completions in development and lower transaction earnings in investments.
- The Capital Release Unit (CRU) reported an EBITDA loss of $284 million, reflecting non-cash write-downs and provisions.
- The group's statutory gearing remains high at 25.8%, with an underlying gearing of 32.9%, above the target of 15%.
- The company faces ongoing risks and provisions related to international construction projects and community land parcels, impacting financial performance.
Ladies and gentlemen, thank you for standing by and welcome to LendLease's fiscal year 2025 results briefing. (Operator Instructions) I must advise that this call is being recorded today, Monday, February 23, 2026.
I will now to hand the call over to Mr. Tony Lombardo, Group Chief Executive Officer. Thank you, Tony. Please go ahead.
Good morning and thank you for joining the LendLease 2026 half year results presentation. I'm Tony Lombardo, Group Chief Executive Officer and Managing Director of LendLease. With me is Simon Dixon, Group Chief Financial Officer. Sitting here at Barangaroo in Sydney, we're on the land of the Gadigal people, and I extend my respects to their elders, past and present.
Today I'll provide an overview of our half year 2026 results. Simon will talk through financials, and I will then cover the outlook and strategy. We'll then open for questions.
Staring on slide 4. FY26 is a transitional year for Lendlease
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
