Good morning everyone, and welcome to Finbar's investor webinar for the full year 2026 financial results. My name is Elodie Castagna from FTI Consulting, and with me I have the CEO of Finbar, Ronald Chan. Finbar lodged its full year financial results this morning, both ASX announcement and the investor presentation. Ronald will take us through the results presentation and the company's strategy as well. Today's webinar allows people to ask questions, and you can do so by submitting your questions into the GoToWebinar platform. You'll see a question mark box at the top of your screen where you can submit questions during the webinar. Now, I'll hand over to you, Ronald, to give an overview of the presentation and today's results. Good morning everyone, and thank you for joining. This is Finbar's first time doing a webinar, and it's great to see shareholders registering in today as well as non-shareholders, which is great. There's a few familiar names on the attending as well, so it's great. We released to the market our announcement as well as our presentation, which I'll go through. I hope you had enough time to run through it, but as Elodie mentioned, certainly ask any questions that you may have at the end of this presentation. For people that are not familiar with the company, I'll just run through what we've done and our history as of today. As you can see from this aerial image, we are very much concentrated in the C.B.D. area, within a 5-10 km radius. We've delivered 80 completed projects, amounting to over 7,600 apartments. We have a 100% delivery track record and certainly an acceptable product in the marketplace. As I mentioned, we've listed on ASX since 1995 with a remarkable 31-year track record as a property developer. 80 apartment projects completed, with 31 years of profit, consecutively. To date, we have delivered AUD 4.5 billion in the marketplace, so certainly we are the largest apartment developer in the state of Western Australia, and we certainly have a driver for our brand in the marketplace. So, a snapshot of our FY 2026 results and operational highlights. I'll go through this in detail in the next few slides. But you can see our total revenue, although it's down 28.2% year-over-year, compared to AUD 284.5 million, FY 2025, our net profit after tax has increased 40% to AUD 20.3 million. That's a result of our Bel-Air project completing, which came in just before the financial year, where we saw 53% of that development settled within that period. Our underlining net profit after tax is sitting at AUD 22.1 million. That's before revaluation. Our earnings per share is sitting at AUD 0.074, which is a 40% increase year-over-year. And we've declared, as you've seen in the announcement, a AUD 0.03 fully franked dividend, taking our FY 2026 dividend payable to AUD 0.055. Our borrowings have reduced, down 72%, as a result from the payback of our facility at Karratha as well as our office asset. And our NTA per share has increased 2.2% to AUD 0.94. We're sitting with a strong cash balance of AUD 50.7 million, up 40% year-over-year, and our gross profit margin is sitting at 20.2%. Settlements for the financial year. We've settled 287 lots, amounting to AUD 263.7 million. As I mentioned, that's down from the prior corresponding period. However, we're seeing only one development settle, which is 53% during the period, which indicates a strong, successful project at our Bel-Air development. Pre-sales is sitting at AUD 567 million, which is a record for us over the period. That's 92.8% year-on-year increase. Under construction, we have 615 lots valued at AUD 515 million under construction, which is a 30% increase year-over-year. Sales for off-the-plan and completed stock is sitting at 566 lots, which amounts to AUD 528.8 million, which is 124% increase year-over-year. Our development pipeline has also increased, AUD 900 million, which now sits at AUD 1.8 billion, amounting to 1,700 lots. During the period, we launched three projects valued at AUD 411 million, 482 lots, which are 80% sold across the board. I'll drill down to the financial results. As indicated, 566 lots sold during the period, which includes our Pelago assets. We're now only sitting with 15 units at Pelago, which is a successful sell-down of that asset, as well as paying back the loan on the facility on that project. Settlement-wise, 287 lots. That's down 18%. However, that's on the back of Bel-Air, as I mentioned, where 53% of the product settled during the financial period. So we're sitting at a gross profit of AUD 41.2 million, which is up 20%, prior to the year at 12.1%. Other income. We've divested business, as you would have read in our announcement, with the divestment of Finbar to Rent, so we've seen that income drop, as well as our administration costs has also lowered by 27% as a result from restructure of the business and lower operational overheads. Net revaluation, we've seen a decrease in revaluation in our office assets, but also an increase in our Pelago assets, which is netting at AUD 2.6 million. Operational profit, sitting at AUD 27.5 million compared to AUD 21.3 million. Our finance costs has also reduced as well. As a result, profit before income tax is sitting at AUD 28.5 million, with a net profit after tax of AUD 20.3 million, resulting in the AUD 0.0744 earnings per share. In terms of our balance sheet, the decrease in our total asset is a result of the sell-down of completed stocks as well as asset held for sale, which is partially offset by increased work in progress, land acquisitions, and cash reserves. Our net asset is sitting at AUD 257.1 million, and cash and term deposits, as mentioned prior, is sitting at AUD 50.7 million. Loans and borrowings have also reduced, as mentioned before, with the payback of facilities at our office assets and our Pelago asset as well. Our NTA is sitting at AUD 0.945, up AUD 0.03 year-over-year. I'll move on now to development sales activity. The total value and lots sold for financial year, as mentioned, AUD 529 million, 566 lots. You can see from the graph since 1996 that we're at record levels. We're averaging 1.4 sales per day, which is 126% increase over the year. Total value and lots settled for the financial year, AUD 263.7 million settled during the financial year, comprising of completed stock at our Pelago asset in Karratha and our Bel-Air project, which, as I mentioned, settled 53% during the financial year. Our total current pre-sales is at record levels since 2016, sitting at AUD 567 million, comprising of AUD 495 million in off-the-plan stock, AUD 71 million in completed stock, which comprises of a few units at Civic Heart, Aurora, The Point, and the balance of Bel-Air stock, which we're settling this financial year, which mostly all but 10% are yet to settle. As well as AUD 1 million in Pelago Karratha that are due to settle. Completed stock sell-down. Over the financial year, we sold AUD 77 million in completed stock, which again, comprised of our Civic Heart, Aurora, and The Point, but excludes our Pelago asset, averaging AUD 6.4 million per month. Investor sales activity over the period, you can see a call-out of our project logos. It's when the project launched. During 2026, as and when we launch project to the market, you can see an increase in investor activity, resulting in the Q2 period at 58% investor activity. First home buyers. As what we've indicated, Finbar Group targets the mid-tier market, and with the launch of our Palmyra West project bringing in more affordable product, we've seen increase in first home buyers activity sitting at 14% for 2026. Repeat buyers as a part of our loyalty club program, we continue to see loyalty club buyers reinvest into new projects. You can see here on the current period, reaching 28% of repeat buyers. At our Romeo project, we've seen 50% repeat buyers coming back in. It's a good indication of the strength of our brand and the trust that our buyers have in the company. I'll move on to our completed projects, where I'll just indicate again what we have on stock. What we have at our Civic Heart project is two residential and one commercial. The Point still has four commercial remaining. Aurora, AUD 9 million in value, comprising of four residential. Bel-Air, the balance of units yet to settle, as well as some followovers that happened in that project, which we saw a followover rate of just 8%. It's a good indication of where the market's sitting for Bel-Air, as we've seen prices increase 20% since we've launched the project, and the market acceptance of the resales that are happening there at the moment to first-home buyers in the marketplace. As at held for sale, 88% sold with only 15 units left to sell, which we intend to bring to market in the next few weeks. Projects under construction. Garden Towers in East Perth is nearing completion. We'll see that project finish in October this year with settlements happening first half of 2027. That project total value sits at AUD 296 million, 342 units, which is the largest project that Finbar Group has had in its books. 81% sold in that project, comprising of 59 residential and seven commercial. Riverbank Residences, under construction, coming up to typical floor. We are 97% sold and AUD 4.2 million value remaining, which only comprises of four residential units. Palmyra West, a AUD 100 million project, 130 unit offering, 85% sold, which we're seeing an increase in first-home buyers in that product, averaging about AUD 730,000. Romeo, which we launched to the market early this year, 60% sold, AUD 90 million in value remaining, comprising of 64 residential units. We will commence construction next month in September, with anticipated completion in FY 2029. Projects in the pipeline. Parkside in Rivervale is the last land holding that we have in The Springs precinct. That's a small 108 unit project. Total value is AUD 73 million. We are about to launch that to the market in the next couple of weeks, bringing in an average price point of AUD 750,000. Leederville Residences, which we recently got DA approval, we aim to launch this project in around November this year. That project total value sits at AUD 266 million, 246 units, or 244 residential units and two commercial. Lyall Street, we're going through the DA process of that, but we anticipate launching that to market in the first half of our next calendar year. ABC Heritage, we're exploring options there, waiting for the scheme to change in the Perth city center. Bowman Street, which is on the back of our Lyall Street project, so a significant foothold in the South Perth precinct, which we're familiar with. That project will end with AUD 402 million in value, which will comprise of 303 units. There's a lease back on that unit for two years, so if you can see on our pipeline in the last few pages, you can see where that sits, where that project sits. In terms of our five-year development pipeline, we have a robust pipeline of AUD 1.8 billion amounting to 1,700 units. As mentioned, the completion of Bel-Air, we have 53% settled within the last financial year with the balance currently settling. Garden Towers, completion in October, which we'll see settlement happening in that period. Riverbank Residences, falling into FY 2028, as well as Palmyra West, FY 2028. Romeo, starting construction next month. We'll see that completion happen in the second half of FY 2029. Parkside, also launching to market, which we anticipate the construction commencement next year, which we'll see completion fall into FY 2028. Leederville Residences, we'll bring that to market in November this year, and that will fall into the end of FY 2029. Lyall Street, ABC, and Heritage will follow thereafter, taking us to a healthy FY 2031 timeframe. You would have also seen on one of our announcements the release of our Ascot site, that came in just before we prepared this presentation, but that project sits just 250 m from our successful Bel-Air project. We intend to bring a mid-tier affordable product to the marketplace, which we feel will carry about 200 units in that area. We view that area as ripe for development. It caters towards the mid-market, and the price point-wise is acceptable in the current form. The outlook. You can see on the left of this presentation the projects that we have concentrated in the C.B.D. area of Perth. Under construction, as mentioned, Garden Towers and Riverbank Residences and Palmyra West. Completed projects in pink or purple. We hold very few residential units and commercial left, which we intend to sell in the next 12 months. Projects that are due to launch in the marketplace, being Leederville Residences, as well as Parkside. The blue highlights Bowman Street, ABC, and Lyall Street, which falls into our five-year development pipeline. As mentioned, we intend to deliver a product that meets the mid-tier market, with the recent acquisition of our Ascot site, bringing on that affordable product. That will strengthen our pipeline to AUD 1.9 billion, which is healthy, and a good market acceptance for that product offering. The market outlook. We continue to see strong migration of up to 1,000 people per week. Perth, W.A. is still leading all states and territories, 2.2% population growth over the 12 months period. We continue to see Perth perform very well compared to the other states, with Perth dwelling values increase marginal by 0.1% and a decrease of only 0.3%, which is still performing better than the rest of the state. We've got strong Perth growth. Year-on-year, we've seen 20.5% growth over the dwelling values versus the combined capital achieving just 3.9%, which is a good indication of where Perth market sits. We feel that the level of price is manageable at this point, and it's good to see our price point beat the market. What we see in the W.A. apartment outlook is an annual growth of reflecting 22% on apartments, versus 18% on houses. We're reinforcing the continued demand for affordable product in the apartment market space. First home buyers are certainly looking at shifting their focus to apartments, as opposed to land developments, where build times may exceed their expectations. Investor activity strengthened to new housing in W.A. Investor finance activity in W.A. was 24.5% above the average for FY 2026, in relation to the purchase of new erected dwellings. Rental market continues to strengthen in W.A. We've got low vacancy rate, where we've seen 8.1% increase year-on-year with a gross rental yield of 3.8%. I reflect back on our Bel-Air project, where we're seeing rental asking prices for one bedrooms achieving AUD 700 a week up to AUD 850 a week for a two-bed, two bath. Certainly, where we see the market is, unless supply can be increased, the rental market and the asking prices will continue to be very high. The market outlook, this is a three-month quarterly snapshot. You can see the highlights where the 25% and the 50% middle mark dwellings, so marginal increase and decrease, which indicate affordability is a key issue in where we sit. That's it for the presentation. If I can pass it on to Elodie to see whether there's any questions. Yes, that's great. Thanks, Ronald. We received a few live questions. The first one is from Richard saying, "Congratulations on the strong results. What is the current margin profile for Garden Towers? Have there been any notably recent cost escalations on this project? The margins are still looking within our feasibility. Certainly, that project has gone through half of the period of COVID, which ultimately has seen some price escalation, but it is manageable. 80% of the project has sold, so 20% still remaining, which can compensate for the slight increase in construction costs. We are comfortable with that project, and we are nearing the end of that project within the next eight weeks. That project is sitting okay. Okay, great. How have the selling conditions changed over the last few weeks? What are the required pre-sale hurdles to commence construction on the financial year 2027 projects that the company has launched? Have some of the selling conditions changed over the last few weeks, and any pre-sale hurdles for the new projects commencing? We are certainly experiencing a decrease in sales activity, as well as the whole of Australia. Ultimately, federal government changes to tax reforms have put investors on the sidelines. But recently we have seen an increase in activity on sales on certainly our Bel-Air project with the completion product attracting more first home buyers, as well as our Romeo project attracting owner/occupiers to that marketplace. How I see on our future projects that are due to launch is that our product offering is on par with market acceptance and price point. West Leederville is going to bring in a mid-price point of about AUD 1 million compared to the medium house price in the area at AUD 2 million. I am confident that our product meets market and there are very few competitors that can operate in our space. It is projects that are in good location, good amenities, and since we have announced our DA approval, we have had an increase in registrations of interest in that project. Okay, great. Another one, a live one from Timothy. Why hasn't Finbar moved into the luxury apartment market? That's always a question that's asked, but if you look at our history of what we've delivered over the 30 years, we've delivered a vast array of product offering to mid-market, affordable product, as well as luxury project. Our Civic Heart comprised of one bedrooms, two bedrooms, larger three bedrooms, as well as penthouses up to AUD 9 million. So we are in that space, but we feel that that level of the market has a bit of a slowdown if the market changes. The bread and butter of what we deliver is the mid-market, and that's 80% of the general market as well. I feel that first home buyers and homeowners should have the ability to afford housing, and that's what Finbar's catering to. Another live question. Will management consider share buybacks as part of its capital allocation strategy? This is to be discussed and agreed by the board, but it's not something that we have considered for the time being. Not yet. A pre-submitted question that we've received is how does Finbar view the outlook for Perth's apartment market over the next 12-24 months, given the housing undersupply and the higher interest rates? Government federal tax changes, it's going to be targeting investors to new builds, so that's a benefit to us, as well as state incentives such as stamp duty relief for off-the-plan projects places us in a good position for us to deliver product. As well as I mentioned, the product offering that we're catering to, the general 80% of the market, has a larger attraction, so we'll see a larger take-up. I feel that our product offering is key to deliver the mid-market product and buyers' acceptance. What are Finbar's key operational priorities in FY 2027, and what milestones should shareholders and the market be looking at? We've got a healthy five-year pipeline with strong pre-sales, already 80% pre-sale over the project. So it's ensuring that our projects complete on time as per our pipeline, as well as achieving development approval for projects that are yet to achieve that and to streamline launching them to the marketplace. Projects such as our Ascot acquisitions, it's in an area in Belmont where we feel the council is a lot more forgiving for development. So we're looking in areas where the timeframe to carry out approvals, to launching, and to carry out construction will be a shorter timeframe than what we traditionally see. So identifying sites as well as ensuring projects deliver on time. What is the company seeing in terms of buyer inquiries and sales across its portfolio, and has the mix of owner/occupiers and investors changed recently? As I mentioned, we've seen an increase in owner/occupiers as a result from the completion of our Bel-Air projects, which have residual stock left from the result of some fallovers. But in terms of split in buyer and owner/occupier profile, certainly our owner/occupiers are sitting higher with investors sitting on the fence. But that profile will change as and when we launch new projects. Over the period of the 10 year, we average out 40% investors over the period. Investors are key to our project launches, and I view that it's here again to invest. Okay. Excellent. It doesn't seem that there are any more live questions. If that's the case, then I'll pass it back to you, Ron, to provide some concluding remarks and wrap up the webinar. Thank you everyone for joining this webinar. We intend to carry on doing this more to give more of an insight and connection with me to our shareholders as well as incoming shareholders. Look out for this recording on our investor hub on Finbar's website. Thank you for joining.