Lendlease ( (LLESY) ) has released its Q2 earnings. Here is a breakdown of the information Lendlease presented to its investors.
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Lendlease is a leading integrated real estate and investment management company with a significant international presence. It operates in investment, development, and construction sectors, focusing on capital recycling and strategic growth.
For the half-year ending December 2024, Lendlease reported a statutory profit after tax of $48 million, a significant improvement from a loss of $136 million in the prior corresponding period. The company’s operating profit after tax increased to $122 million, highlighting a robust recovery in its performance metrics.
Key financial highlights include a 148% increase in the Investments segment’s operating EBITDA to $228 million, driven by asset sales and joint ventures. The Development segment also rebounded with an operating EBITDA of $138 million, propelled by apartment settlements and new project commencements. However, the Construction segment faced challenges, posting an operating loss due to cost inflation and project delays.
Looking forward, Lendlease management remains focused on capital recycling, growing its investment platform, and enhancing operational efficiencies. The company expects to reduce its gearing and continue progressing its strategic initiatives to drive long-term value creation for shareholders.