The Summerset Group Holdings Ltd (ASX: SNZ) share price is in focus after the company delivered a record underlying profit of NZ$234.2 million for the 2025 full year, up 13% on FY24, while total revenue climbed 13% to NZ$361.8 million.
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What did Summerset report?
- Underlying profit after tax of NZ$234.2 million, up 13% on FY24
- IFRS net profit after tax dropped 22% to NZ$259.7 million compared to FY24
- Total revenue of NZ$361.8 million, up 13% year on year
- 1,560 total sales of occupation rights (805 new, 755 resales), up 26%
- 693 new homes delivered—637 in New Zealand, 56 in Australia
- Final dividend of NZ13.2 cents per share (total FY25: NZ24.5 cps)
- Net tangible assets (NTA) per share increased $1.32 to $13.75
What else do investors need to know?
Summerset continued to achieve robust sales results despite a subdued property market in 2025, with its strongest ever year for new sales and ongoing high occupancy rates. The business grew its total assets by 15% to $9.2 billion and maintained strong resident satisfaction at 91% and staff retention at 84%.
The company delivered 56 new homes in Australia and made significant steps in its Australian growth plan, including opening its first village centre at Cranbourne North, Victoria. Care profitability also lifted, with care EBITDA jumping to $18.8 million, mainly through the sale of care rooms under Occupation Right Agreements (ORAs).
What did Summerset management say?
CEO Scott Scoullar said:
We've continued to achieve despite another year where the business environment and property market has been subdued. Summerset has lifted the value of the company by $1.32 per share to have a Net Tangible Assets (NTA) per share of $13.75, and we are proud to be very focused on growth.
What's next for Summerset?
Summerset expects to keep building, forecasting 650–700 new homes in New Zealand and 100–150 in Australia for FY26. The company is targeting continued growth in both countries, supported by its large land bank and steady demand, while carefully managing its build rate to match market conditions. Further cost reviews and ongoing sustainability initiatives are also on the cards, with gearing expected to reduce in FY26.
Directors declared a final dividend of NZ13.2 cents per share, with the total FY25 payout unchanged from the previous year. Management remains focused on prudent balance sheet management and delivering long-term cashflow for residents and shareholders.
Summerset share price snapshot
Over the past 12 months, the Summerset shares have declined 20%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 11% over the same period.
