Stockland Corp Ltd (STU:LN1)
€ 2.7785 -0.0195 (-0.7%) Market Cap: 6.74 Bil Enterprise Value: 9.65 Bil PE Ratio: 45.83 PB Ratio: 1.09 GF Score: 76/100
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Half Year 2021 Stockland Corporation Ltd Earnings Call Transcript

Feb 25, 2021 / 12:00AM GMT
Release Date Price: €2.84 (-2.58%)
Mark Andrew Steinert
Stockland - MD, CEO & Executive Director

Good morning, everyone. My name is Mark Steinert, CEO and Managing Director, and I welcome you all to our half year results update for FY '21.

I'd like to begin by acknowledging the traditional custodians of the land on which we meet, the Gadigal people of the Eora Nation, and pay our respects to their elders past, present and emerging.

The format for today is Tiernan, Louise, Andrew and I will present the key elements of the results, and then we'll open it up for questions.

I'm pleased to announce a strong half year result, which reflects the benefit of our diversified portfolio, a strengthening housing market with a 44% increase in settlements, improved retail sales and rent collection, resilient performance across the rest of the portfolio and strong execution of our strategic plan. And we delivered this result despite a very challenging macro environment.

Funds from operations were $386 million, and FFO per security was $0.162, up 0.6%, reflecting a healthy return on equity of 11.4%. Statutory net

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