Stockland Corp Ltd (FRA:LN1)
€ 3.146 0.029 (0.93%) Market Cap: 7.74 Bil Enterprise Value: 10.22 Bil PE Ratio: 40.87 PB Ratio: 1.25 GF Score: 83/100
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Half Year 2019 Stockland Corporation Ltd Earnings Call Transcript

Feb 20, 2019 / 12:30AM GMT
Release Date Price: €2.35 (+0.86%)
Mark Andrew Steinert
Stockland - MD, CEO & Executive Director

Good morning, everyone. My name is Mark Steinert, I'm the CEO and Managing Director of Stockland, and it's my pleasure to welcome you to our first half '19 results presentation.

The process for today, obviously, I'll give an overview, then the team will go into some detail on the results and some property -- detailed property discussion, and then I'll close, then we'll open it up for questions.

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 my respects to their elders, past and present.

Turning to the result. First half results were in line with our expectations and highlight that they reflect a typical second half skew in our residential settlements, and that compares to an atypical skew that we experienced in the first half of 2018, which compounded this period-on-period change. That is the key driver of the minus 6.7% for the half, funds from operation and funds from operation per security growth that we reported.

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