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Shine Justice (SHJ) investor relations material
Shine Justice H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
FY 2025 featured strategic organizational restructuring, new CEO and CFO appointments, and a sharpened focus on personal injury and class actions, with divestment from non-core areas.
Revenue increased to $204.4 million from $195.7 million year-over-year, while adjusted EBITDA declined to $38.4 million from $45 million, and adjusted NPAT fell to $9.7 million from $14.5 million.
Final fully franked dividend of $0.05 declared for FY25, reflecting confidence in cash position.
Operating cash flows were $30.6 million, down from the prior year due to one-off class action receipts in FY 2024.
Initiatives launched to drive shareholder value in FY26 include technology investments and US mass torts expansion.
Financial highlights
Revenue up 4.4% year-over-year to $204.4 million, driven by core practice areas.
Adjusted EBITDA down to $38.4 million, mainly due to increased provisions, higher employee benefits, and a $9.6 million fair value loss.
Net debt increased to $53.6 million, primarily from reclassifying $18.8 million disbursement funding to borrowings, resulting in interest savings.
Gross borrowings at $71.6 million, with average cost of debt around 7%.
CapEx at $2.3 million, lower than previous years.
Outlook and guidance
FY26 outlook anticipates improved financial outcomes, supported by leadership changes, strategic realignment, and targeted branch-level growth in PI and class actions.
PI EBITDA margin baseline set at 20%, with ambitions to reach 25% or higher as operational improvements take effect.
Class actions segment expects further revenue growth as portfolio funding is secured, with growth weighted toward the second half of FY 2026.
Continued investment in emerging technologies and US International Mass Torts strategy.
Headcount expected to decrease as AI and technology improve efficiency.
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