Netwealth Group (NWL) AGM 2025 summary

Opening remarks and agenda

• Chair opened the meeting with an Acknowledgement of Country, introduced the board and executive team, and outlined the agenda, including addresses from the Chair and CEO and seven formal business items.

Financial performance review

• FY2025 saw a 12.7% increase in the Australian platform market FUE to AUD 1.25 trillion, with NetWealth securing 38% of industry net flows.

• Funds under management rose 31.9% to AUD 27 billion; managed accounts up 33.5%.

• Total Funds Under Administration increased 28.2% to AUD 112.8 billion for the year ending 30 June 2025, with market share rising to 8.9%.

• EBITDA margin reached 50.4%, with EBITDA at AUD 163.5 million, up 31.1%; net profit after tax was AUD 116.5 million, up 39.8%; total income grew 27.1% to AUD 324.4 million.

• Declared dividends increased by 37.5% to AUD 0.385 per share.

Board and executive committee updates

• Board composition includes experienced directors, with recent appointments: Michael Wachtel (Chair, 2025) and Sarah Brennan (2024).

• Executive team changes: Hayden Stockdale as CFO (2024), Lindsay Coates promoted to lead private banking and sales, Jodie Henson as Chief Risk, Legal and Governance Officer (2023), and Jason Huddie as Executive GM, Investment Solutions and Governance.

• John Hanrahan retired as CIO; Nick Walker appointed CTO, starting next month.