COSOL (COS) H2 2024 earnings summary

Executive summary

• Achieved group revenue of $101.9m, up 35.7% year-over-year, with underlying EBITDA of $15.7m, up 33.0% year-over-year.

• Underlying NPATA reached $9.6m (+19.7% year-over-year), and underlying EPS was 5.24c (+2.9% year-over-year).

• Secured major managed services contracts and completed two strategic acquisitions, strengthening the platform for future growth.

• Maintained a strong EBITDA margin of 15.4% and improved cash conversion to 76.2%.

• Positioned as a leader in asset management digital transformation, with a growing blue-chip client base and expanding global footprint.

Financial highlights

• Revenue increased to $101.9m (+35.7% year-over-year), driven by growth in product-led and professional services.

• Underlying EBITDA rose to $15.7m (+33.0% year-over-year), with a margin of 15.4%.

• NPATA was $9.6m (+27.8% year-over-year); NPAT was $9.0m (+19.7% year-over-year).

• EPS increased to 5.24c (+2.9% year-over-year); final dividend of 1.39c, full year 2.39c.

• Gross margin was 33.6%, down 2.1 points year-over-year due to service mix and acquisitions.

Outlook and guidance

• Strong H2 momentum and margin expansion set up for continued growth in FY25.

• Expect double-digit revenue and EBITDA growth for FY25 and FY26, supported by new managed services contracts and ARR software growth.

• Strategic focus on expanding managed services, recurring software revenue, and further acquisitions.