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Lifestyle Communities Limited (ASX:LIC)

ALERT: Price-sensitive ASX Announcement for LIC
Current share price for LIC : $5.310 0.15 (2.91%)+
Announcement
Release
28 Aug 2025 9:08AM
Price at Release
$5.160
Full Release
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Summary
The full-year results for Lifestyle Communities Limited for FY25 reflect a challenging year, impacted by a VCAT decision that declared the Deferred Management Fee (DMF) calculation methodology in LIC’s contracts void, resulting in significant financial write-downs and provisions. Despite these challenges, the company plans to appeal the decision, anticipating a reversal of these financial impacts. The portfolio comprises 5,750 homes, and despite the setbacks, the company reported operating profits of $45.2 million. Lifestyle Communities is also focusing on de-leveraging and optimizing capital management over the next year to improve financial stability.
Key Points
  • Portfolio includes 5,750 homes with over 5,800 homeowners.
  • VCAT decision on 7 July 2025 affects DMF calculation in contracts, resulting in a significant financial impact.
  • LIC plans to appeal the VCAT decision, expecting potential reversal of financial adjustments.
  • Operating profit after tax was $45.2 million in FY25.
  • Significant de-leveraging is planned with capital management initiatives.
  • Total settled homes increased to 4,128 by the end of FY25.
  • Annuity revenue from rent and DMF rose to $56.2 million.
  • Statutory net loss after tax of $195.3 million in FY25.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.