Stockland Stapled Securities (STKAF) Q4 2026 Earnings Call Transcript

Good morning, and thank you for joining Stockland's Full-Year 2026 Financial Results Update. Joining me today is Josh McHutchison, our CFO. And joining us for Q&A will be Kylie O'Connor, CEO, Investment Management; and Andrew Whitson, CEO of Development. Before we begin, I'd like to acknowledge the traditional owners and custodians of the land on which we meet, the Gadigal people of the Eora Nation and pay my respects to elders past, present and emerging. Over the last 5 years, our focus has been on reshaping our portfolio, embedding additional growth pathways and positioning the business for sustainable performance. This time last year, we said that FY '26 would mark an inflection point in both activity levels and strategic delivery. In this result, you will see that we have not only achieved this objective, but have done so in a rapidly changing macroeconomic environment. Looking forward, we are confident that the strength of our