Count (CUP) H2 2025 earnings summary

Executive summary

• Achieved strong revenue and profit growth in FY2025, with funds under management reaching $3.9 billion and funds under advice at $37.8 billion, driven by organic expansion, strategic acquisitions, and cost synergies from Diverger integration exceeding $5.1 million.

• Underlying NPAT attributable to shareholders rose 89% to $10.9 million, and underlying EBITA increased 67% to $27.7 million; share price nearly doubled and market capitalization tripled over 24 months.

• Completed 11 M&A transactions, including the merger of Count Adelaide and Johnston Grocke, and divested underperforming legacy assets, improving earnings.

• Declared a final dividend of 2.75 cents per share, up 22.2% year-over-year, with a total FY2025 dividend of 4.5 cents, the highest in eight years.

• Marked the 45th anniversary, emphasizing a legacy of trusted advice and long-term value creation.

Financial highlights

• Revenue grew 28% year-over-year to $143.6 million; underlying EBITA margin improved from 15% to 20%.

• Statutory EBITA up 144% to $24.9 million; statutory NPAT (A) was $12.7 million; underlying NPATA attributable increased 84% to $14.7 million.

• Operating cash flow rose 167% to $22.1 million, supporting increased dividends and debt repayment.

• Achieved $5.1 million in cost synergies, exceeding expectations.

• Final dividend increased 22.2% to $0.0275 per share; total annual dividend of $0.045 per share, fully franked.

Outlook and guidance

• Strategic plan targets growth in advice margin, education market share, FUM, and return on capital, with recurring revenues expected to flow through as integration and system upgrade costs normalize in FY2026.

• Ambition to reach $10 billion in funds under management within five years, leveraging only 14% current adoption of investment solutions.

• Continued focus on M&A, expanding investment solutions, and improving operating efficiencies in FY2026.