Hipages Group (HPG) AGM 2024 summary

Opening remarks and agenda

• Meeting opened at 10:00 A.M. in Sydney, confirming quorum and proper constitution.

• Chair's and CEO's addresses initiated the meeting, followed by formal business, live voting, Q&A, and meeting close.

• Directors, CFO/COO, General Counsel, auditor, and committee chairs were introduced.

Financial performance review

• FY24 total revenue reached AUD 75.8 million, up 13%, with recurring revenue up 15% to AUD 72.1 million.

• EBITDA increased by AUD 4.1 million to AUD 16.4 million, with a 22% margin; NPAT improved to AUD 0.1 million from a AUD 2.3 million loss.

• Free cash flow was AUD 2.1 million, reversing a AUD 2.8 million outflow in FY23; strong balance sheet with AUD 21.3 million in cash and no debt.

• ARPU rose 11% to AUD 2,079; subscription tradie base expanded by 2–3%, and tradie-homeowner connections increased 3%.

• New Zealand revenue rose 28%, with ARPU up 21%.

Board and executive committee updates

• Board comprises Chair Inese Kingsmill, CEO Roby Sharon-Zipser, four non-executive directors, and committee chairs.

• Board and executive leadership prioritized cyber resilience and data privacy, investing in new security measures.

• Special recognition was given to the CEO and board for their leadership and support.