AUB Group (AUB) H2 2025 earnings summary

Executive summary

• Underlying NPAT grew 17.1% year-over-year to AUD 200.2 million, exceeding guidance, driven by organic growth and acquisitions, positioning the group as a leading global insurance broker with operations in nearly 20 countries and AUD 11 billion in client premiums placed in FY 2025.

• Revenue increased 12.7% to AUD 1,501.3 million, with margin expansion across all divisions.

• Completed 19 investments, including Pacific Indemnity, Momentum, and Movo, significantly expanding UK retail scale and accelerating growth.

• Strong performance in BizCover and Agencies, with PBT growth of 26.8% and 30% respectively.

• Positive outlook for FY 2026, with initial guidance for UNPAT of AUD 215–227 million, representing 7.4%–13.4% growth.

Financial highlights

• Underlying NPAT: AUD 200.2 million (+17.1% YoY); Revenue: AUD 1,501.3 million (+12.7% YoY).

• EBIT margin expanded to 34.7%, up from 26.9% in FY 2019.

• Underlying EPS rose 9.5% to AUD 1.7175 per share.

• Total dividend for FY 2025 was AUD 0.91 per share, up 15.2%, with a 53% payout ratio.

• Organic growth contributed 11.9% to UNPAT, with acquisitions adding 12.1%.

Outlook and guidance

• FY 2026 UNPAT guidance: AUD 215–227 million, EPS of AUD 1.8441–1.947, up 7.4%–13.4% year-over-year.

• Guidance includes only highly likely acquisitions and equity investments.

• Assumptions factor in further interest rate reductions in the UK and Australia, and rational premium pricing.

• Medium-term margin targets remain on track, with further upgrades possible.

• Priorities include portfolio optimisation, technology delivery, and international expansion.