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Lendlease Group ADR LLESY

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Company Profile

Business Description

Lendlease’s ongoing business comprises three segments: development, investments, and construction. Development accounted for more than half of EBITDA in 2020, and the future pipeline is so large it cannot be funded from its own balance sheet. The group is selling projects stakes to its funds management clients. This sacrifices development profit, in return for management fees, reduced risk, and capital to accelerate its development pipeline. Construction generates large revenues but slim margins. This business is retained to preserve expertise and scale for the development business. Lendlease sold its engineering business in 2020, but retains risk on the Melbourne Metro project which has years to run. It is also disposing of its engineering services business and other smaller businesses.

Level 14, Tower Three, 300 Barangaroo Avenue, International Towers Sydney, Exchange Place
Sydney, NSW, 2000, Australia
T +61 292366111
Sector Real Estate
Industry Real Estate - Diversified
Most Recent Earnings
Fiscal Year End Jun 30, 2022
Stock Type
Employees 12,000