Overview of Ingenia Communities Group's response to ASX Aware Letter

Ingenia Communities Group (ASX:INA) has responded to the ASX Aware Letter dated 29 August 2024, addressing queries related to its FY24 financial results. The company's statutory and underlying earnings for the 2024 financial year were disclosed in the Results Announcements, and the response provides detailed explanations and justifications for the company's position.

Executive Commentary on FY24 Financial Performance and ASX Response

No. Whilst INA's FY24 results exceeded earnings guidance, the outperformance was not material having regard to ASX's commentary in paragraph 4(a) of section 7.3 of Guidance Note 8. INA's FY24 EBIT was $125.7 million, exceeding the upper end of the EBIT Guidance by $2.2 million, an outperformance of 2%. INA's FY24 underlying EPS was 23.3 cps, exceeding the upper end of the EPS Guidance by 1.0 cps, an outperformance of 4.5%. INA did not become aware with a reasonable degree of certainty that its FY24 earnings would vary from, or be in line with, the upper end of its Earnings Guidance until after market close on the day before INA's FY24 Results announcement.

Summary of Ingenia Communities Group's FY24 Financial Performance and Outlook

Ingenia Communities Group (ASX:INA) has provided a comprehensive response to ASX regarding its FY24 financial results, stating that the outperformance was not material in comparison to the market's expectations. The company's FY24 EBIT of $125.7 million and underlying EPS of 23.3 cps exceeded the upper end of the EBIT and EPS Guidance, demonstrating positive financial performance. The response also confirmed compliance with Listing Rules and continuous disclosure policy. Looking ahead, Ingenia maintains its 3-year target on home settlements from FY24-FY26 and has set further growth in both EBIT and EPS for FY25, indicating positive momentum and a clear strategy for future development.