Tower (TWR) Guidance summary

Guidance on key objectives

• FY24 full year underlying NPAT guidance raised to greater than $40m, up from previous guidance of greater than $35m.

• Guidance assumes full utilisation of the $45m large events allowance for FY24.

Market trends and strategic opportunities

• Positive trading conditions and unseasonably benign weather in recent months have contributed to improved outlook.

• Two storms in May resulted in relatively insignificant claims costs, with no large events recorded year to date.

Key challenges and risks discussed

• Any unused portion of the large events allowance at year end will further increase underlying NPAT.

• If no large events occur in FY24, underlying NPAT could increase by an additional $32m after tax.