Count (CUP) H2 2024 earnings summary

Executive summary

• Achieved strong operational performance in FY2024, driven by organic growth, acquisitions, and successful integration of Diverger.

• Revenue rose 22% year-over-year to $111.8 million, driven by both organic and acquisitive growth.

• Completed 15 acquisitions, including the transformative Diverger deal, expanding scale and service offerings across all segments and making the group the second largest wealth management advice firm in Australia.

• Funds under advice grew 104% to $34.2B and funds under management reached $3.2B.

• Served over 101,100 clients and expanded the Wealth segment significantly.

Financial highlights

• Statutory revenue increased 22% year-over-year to $111.8M.

• Underlying EBITA rose 61% to $16.63M, with margin improvement to 15% from 11% in FY2023.

• Underlying NPAT attributable to shareholders up 68% to $5.8M.

• Statutory EBITA was $10.19M, impacted by $4.97M in Diverger transaction and integration costs and the disposal of Bentley's WA.

• Total FY2024 dividend per share was 3.75 cents, fully franked, with a final dividend of 2.25 cents per share.

Outlook and guidance

• Focus on full integration of Diverger and delivery of at least $4M in annualised cost synergies in FY2025.

• Plans to drive organic revenue growth, especially in financial planning and wealth segments.

• Continued expansion in services through cross-selling and CRM consolidation.

• Mergers & acquisitions pipeline remains robust, indicating continued acquisitive growth opportunities.