HUB24 (HUB) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional owners and a welcome to shareholders, proxy holders, and guests, both in-person and online.

• Board members, auditors, and key staff were introduced, and the hybrid meeting format and participation procedures were explained.

• Chair and CEO addressed the meeting on 21 November 2024, emphasizing the company's mission to empower better financial futures together.

• The agenda included the Chair and CEO addresses, financial and operational updates, and five resolutions for shareholder consideration.

Financial performance review

• FY24 revenue reached AUD 327.3 million, up 17% from FY23, with underlying EBITDA at AUD 118 million, up 15%.

• Underlying NPAT was AUD 67.8 million, up 15%, and underlying EPS (diluted) rose 14% to 81.1cps.

• Funds under administration surpassed AUD 104.7 billion, with a four-year CAGR of 57% and group revenue CAGR of 42%.

• Platform net inflows hit a record AUD 15.8 billion, up 62% year-on-year.

• Total shareholder return over four years reached a CAGR of 51%, significantly outperforming the ASX 200.

Board and executive committee updates

• Paul Rogan was appointed Chair in November 2023, following the retirement of Bruce Higgins.

• Michelle Tredenick joined as Non-Executive Director in June 2024, enhancing board expertise.

• Board composition achieved gender parity, with 50% female and 50% male members.