Sequoia Financial Group (SEQ) AGM 2024 Presentation summary

Opening remarks and agenda

• CEO Garry Crole presented the AGM on 20 November 2024, outlining the company's performance and strategic direction.

Financial performance review

• FY24 revenue reached $124.6m, up 26% year-on-year.

• Operating profit rose 88% to $8.7m, and NPAT surged 1,012% to $24.0m, including gains from the sale of Morrison Securities.

• Operating cashflow increased 69% to $4.8m, and net cash grew 79% to $16.8m.

• Legal and Administration Services EBITDA margin improved from 28% to 45% due to scale and technology integration.

• Licensee and Adviser Services revenue grew from $89.3m to $113m, with EBITDA doubling from $4.42m to $8.42m.

Board and executive committee updates

• CEO highlighted ongoing focus on operational efficiency and growth, leveraging a strong balance sheet.