• Revenue of $115.2 million, up 12.0% on the prior corresponding period
• Operating EBITDA of $29.9 million, up 9.2% on the prior corresponding period
• Operating NPAT of $12.2 million, up 21.1% on the prior corresponding period
• Interim dividend of 7.4 cents per share, fully franked

Propel Funeral Partners Limited (ASX: PFP) has reported strong financial results for the first half of the 2025 financial year (1H FY25). Revenue increased by 12.0% to $115.2 million, operating EBITDA grew by 9.2% to $29.9 million, and operating NPAT rose by 21.1% to $12.2 million, compared to the prior corresponding period (1H FY24). The company's financial results do not include any contribution from the two acquisitions announced on 18 February 2025, but do include a part period contribution from one acquisition completed during 1H FY25 and full period contributions from eleven acquisitions completed during FY24. Propel's funeral volumes totaled 11,549 in 1H FY25, up 8.6% on the prior corresponding period and up 1.0% on a comparable basis. The company's Average Revenue Per Funeral was $6,727, reflecting organic growth of 2.6% on the prior corresponding period. During and since 1H FY25, Propel committed approximately $13 million on three acquisitions, including a supplier of headstones and monuments in New Zealand, a funeral services provider in Thames, New Zealand, and a funeral services provider in Carterton, New Zealand. As of 31 December 2024, Propel had $640.5 million in total assets, a gearing ratio of approximately 26%, and available funding capacity of around $144 million. The company expects to benefit from favorable demographics in Australia and New Zealand, its strong funding position, and acquisitions completed and announced to date, as well as potential future acquisitions in the highly fragmented industry.

Propel expects to benefit from favorable demographics in Australia and New Zealand, its strong funding position, and acquisitions completed and announced to date, as well as potential future acquisitions in the highly fragmented industry. In the month of January 2025, the company's revenue growth over the prior corresponding period exceeded 10%, reflecting materially higher total funeral volumes, including contributions from acquisitions and positive comparable funeral volume growth, as well as higher Average Revenue Per Funeral.