Lendlease Group ( (LLESF) ) has released its Q2 earnings. Here is a breakdown of the information Lendlease Group presented to its investors.
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Lendlease Group, a prominent player in the global real estate sector, operates in investment management, development, and construction, with a focus on urban regeneration projects. In its latest earnings report for the half year ending December 2024, Lendlease posted a significant turnaround with a statutory profit after tax of $48 million compared to a loss of $136 million in the previous corresponding period. Key performance metrics highlighted include a 39% increase in Segment Operating EBITDA to $375 million, driven by improved investment and development earnings, despite challenges in the construction segment which reported an operating EBITDA of negative $25 million. A noteworthy achievement was the completion of the $516 million sale of its US Military Housing business, aligning with its strategy to recycle capital and de-leverage its balance sheet. Looking forward, Lendlease aims to enhance its international investments platform, optimize its development pipeline in Australia, and further reduce costs, positioning the group for a stronger financial footing in the coming year.
