Lendlease Annual Report 2024

106 Lendlease Annual Report 2024 Notes to Consolidated Financial Statements continued Section A. Performance continued 1. Segment Reporting continued 1.a. Business Segment Information continued TOTAL SEGMENT RESULTS Investments Development 1 Construction Total Core Segments 30 June 2023 $m $m $m $m Revenue Construction services - - 7,191 7,191 Investment services 261 - - 261 Development services - 1,483 - 1,483 Sale of development properties - 795 - 795 Total revenue from contracts with customers 261 2,278 7,191 9,730 Other revenue 68 47 12 127 Total revenue from external customers 329 2,325 7,203 9,857 Cost of sales (110) (2,036) (6,963) (9,109) Gross profit 219 289 240 748 Share of profit of Equity accounted investments 2 77 78 7 162 Other income 2 204 84 34 322 Other expenses 3,2 (168) (168) (191) (527) Operating EBITDA 332 283 90 705 Reconciling items Finance revenue 1 8 - 9 Finance expenses (1) (2) (3) (6) Depreciation and amortisation (15) (19) (39) (73) Operating profit/(loss) before tax 4 317 270 48 635 Operating income tax (expenses)/benefit (72) (78) (16) (166) Operating profit/(loss) after tax 245 192 32 469 Investments segment revaluations (pre-tax): Investment properties (20) - - (20) Financial assets (76) - - (76) Equity accounted investments (134) - - (134) UK building remediation - (295) - (295) Total adjustments 4 (230) (295) - (525) Income tax benefit on adjustments 55 - - 55 Statutory profit/(loss) after tax 70 (103) 32 (1) 1. The Development segment includes $87 million of revaluation gains from Equity accounted investments. 2. Excludes Investments segment revaluations. 3. Excludes depreciation and amortisation. 4. Operating profit before tax of $211 million plus Investment segment revaluations (pre-tax) of $(230) million and UK building remediation of $(295) million reconciles to Loss before tax from continuing operations of $(238) million as disclosed in the Income Statement and Loss before tax for discontinued operations of $(76) million.