Stockland (ASX: $SGP) 1H24 Results and Progress

Stockland (ASX: $SGP) has released its 1H24 results, showcasing a net funds employed of $10.6bn in Commercial Property and $3.7bn in Communities. The company reported progress against targets, emphasizing accelerated execution of strategy, reshaping of the portfolio through strategic transactions, and positioning for increased production rates across MPC and LLC. The 1H24 income mix reflects a larger MPC settlement skew to 2H in FY24 than in FY23.

Executive Commentary on 1H24 Results

The company's executive highlighted the accelerated execution of strategy and reshaping of the portfolio through strategic transactions, positioning for a step change in production rates across MPC and LLC, consistent execution and focus on scaling capital partnerships, and the focus on delivering sustainable growth through high-quality diversified income streams. The 1H24 income mix reflects a larger MPC settlement skew to 2H in FY24 than in FY23. The executive also provided indicative five-year targets and emphasized that all forward-looking statements are based on current expectations about future events and are subject to risks, uncertainties, and assumptions.

Summary of 1H24 Results and Outlook

Stockland (ASX: $SGP) reported a net funds employed of $10.6bn in Commercial Property and $3.7bn in Communities for 1H24. The company emphasized progress against targets, including accelerated execution of strategy, reshaping of the portfolio through strategic transactions, and positioning for increased production rates across MPC and LLC. The 1H24 income mix reflects a larger MPC settlement skew to 2H in FY24 than in FY23. Looking ahead, the company aims to achieve indicative five-year targets and is focused on delivering sustainable growth through high-quality diversified income streams. All forward-looking statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from the expectations expressed in or implied by such statements.