HUB24 1HFY25 Interim Financial Report and Appendix 4D

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Stock HUB24 Ltd (HUB.ASX)
Release Time 18 Feb 2025, 7:46 a.m.
Price Sensitive Yes
 HUB24 1HFY25 Interim Financial Report and Appendix 4D
Key Points
  • Strong growth in funds under administration, revenue, and underlying profitability
  • Continued focus on enhancing value for customers and delivering on strategic objectives
  • Interim dividend of 24.0 cents per share, up 30% from prior period
Full Summary

HUB24 Limited is a leading provider of integrated platform, technology and data solutions to the Australian wealth industry. During 1HFY25, the company has delivered strong growth across key metrics including a 33% increase in total funds under administration to $120.9 billion, a 25% increase in operating revenue to $195.2 million, and a 41% increase in underlying EBITDA to $77.6 million. The company's platform and tech solutions segments have performed well, with platform revenue up 29% and tech solutions revenue up 9%. Underlying net profit after tax increased by 40% to $42.6 million. The company has maintained its focus on enhancing value for customers, delivering on strategic objectives, and pursuing its purpose to empower better financial futures. The board has determined a fully franked interim dividend of 24.0 cents per share, representing a 30% increase from the prior period.

Guidance

The company expects its financial results to continue improving with scale, driven by continued growth in funds under administration onto the HUB24 investment and superannuation platform and the continuing success of its supporting businesses.