Generation Development Group (GDG) H1 2026 earnings summary

Executive summary

• Revenue increased 35% year-over-year to AUD 88.4 million, with underlying NPAT rising 63% to AUD 20.1 million, driven by strong FUM growth and successful acquisitions, notably Evidentia, and robust performance across all subsidiaries.

• Statutory NPAT was AUD 6.9 million, impacted by the absence of a prior year one-off gain and adjustments for non-recurring items.

• Major acquisitions and integrations included Evidentia and Encore Consultancy, with a new operating structure implemented to decentralize subsidiaries and align incentives.

• Maintained a capital-light approach, focusing on scalable, high-margin products, diversified earnings streams, and strategic investments in AI and product innovation.

• Strategic priorities include leveraging legislative tailwinds, expanding product coverage, and ongoing review of acquisition opportunities.

Financial highlights

• Revenue up 35% to AUD 88.4 million; underlying NPAT up 63% to AUD 20.1 million; statutory NPAT at AUD 6.9 million.

• Dividends held flat at AUD 0.01 per share, fully franked.

• Generation Life underlying EBIT up 25% to AUD 11.8 million; Evidentia Managed Accounts EBIT up 21% to AUD 10.1 million; Lonsec underlying EBIT up 29% to AUD 10 million.

• Cash and cash equivalents at period end were AUD 148.4 million.

• Expenses rose 29% year-over-year, reflecting investment in growth and integration.

Outlook and guidance

• Positive momentum expected to continue, with margin retention or expansion anticipated and strong legislative tailwinds for investment bond products.

• Managed account flows guidance of AUD 12 billion for FY 2026 reaffirmed, with new product launches and further AI integration expected to drive growth.

• Ongoing review of acquisition opportunities aligned with strategic priorities.

• No significant events have arisen since 31 December 2025 that would affect operations.