Highlights:

• Earnings guidance climbs as stronger settlements provide fresh momentum into the second half.
• A 370-home sales pipeline points to another potential growth catalyst.
• Six new communities could broaden the earnings base as settlement activity expands.

Half-Year Performance

GemLife Communities Group (ASX: GLF) announced its results for the half-year ended 30 June 2026 on 24 August 2026, reporting stronger home settlements, higher selling prices and earnings ahead of its Prospectus forecasts. Revenue reached AU$195.1 million, while underlying NPAT came in at AU$58.5 million.

Earnings Growth Accelerates

Operational execution strengthened materially during 1H26. GemLife completed 208 home settlements, 75% above the 1H25 level, while the average home sale price increased 10% to AU$876,000. The home build margin remained robust at 49.9%, extending its track record within the 47%–52% range.

The stronger settlement profile also supported development earnings, with Development EBITDA reaching AU$78.4 million. Meanwhile, site rental income rose to AU$12.4 million as the number of occupied homes increased.

Pipeline Builds Momentum

GemLife entered the second half with a sizeable pipeline supporting future settlement activity:

• 382 homes were completed or under construction at 30 June.
• Contracts and expressions of interest reached 370 homes.
• Five additional communities are scheduled to commence settlements during 2H26.

The group’s broader portfolio comprises 33 communities and 10,452 homes upon completion, providing a substantial development runway.

FY26 Outlook Strengthens

Following the first-half performance, GemLife upgraded FY26 underlying EPS guidance to 30.0–31.0 cents, from its previous range of 28.5–30.0 cents. The revised outlook represents 27%–31% growth over FY25 underlying EPS of 23.7 cents.

Looking ahead, expanding settlement activity across newer communities could support further earnings growth. However, GemLife expects its 2H26 average selling price to moderate from the first-half level as early-stage communities contribute a greater share of settlements.

Note- All data presented is based on information available at the time of writing.

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