• Funds management revenue up 19% to $30.8m
• Funds management EBITDA up 30% to $24.0m
• Normalised NPBT up 28% to $23.2m

Qualitas Limited (ASX: QAL) reported a 30% increase in statutory net profit after tax to $16.3m for the half-year ended 31 December 2024, compared to $12.6m in the prior corresponding period. Key highlights for the period include a 19% increase in funds management revenue to $30.8m, driven by strong growth in fee earning funds under management (FUM) and base management fees. Funds management EBITDA, including performance fees, grew 30% to $24.0m, with a margin expansion of 3%. Normalised NPBT increased 28% to $23.2m, predominantly driven by significant growth in the funds management business. The company deployed $2.35bn of capital in 1H25, up 34% on the prior corresponding period, while total committed FUM increased 13% to $9.2bn as at 31 December 2024. Qualitas continues to focus on growing its funds management platform, improving efficiency, attracting new investors and seeking to deploy capital into large-scale investments, particularly in the fast-growing commercial real estate private credit sector.

The company declared an interim fully franked dividend of 2.50 cents per share, to be paid on 28 March 2025 with a record date of 12 March 2025.

Qualitas is well positioned to capture significant opportunities in the commercial real estate private credit sector, which is expected to benefit from increasing momentum and global institutional investor interest.