• NPATA represents Reported/Statutory NPAT adjusted for after-tax impairment, write-off and amortisation of acquired intangibles, and gain/loss on sale of assets
• UPAT excludes M&A and transformation costs, expected to decline from $42.6m in 2024 to $15-20m in 2025
• 2025 UPAT expected to be $65-73m, 3-15% higher than 2024

Iress Limited (ASX:IRE) has announced a clarification notice to assist investors in understanding its 2024 financial results and 2025 guidance announced to the market yesterday. The company provided guidance for 2025 Adjusted EBITDA of $127m - 135m and NPATA of $54m - 62m. For clarity, NPATA represents Reported/Statutory NPAT adjusted for after-tax impairment, write-off and amortisation of acquired intangibles, and gain/loss on sale of assets. It includes items such as M&A related costs and transformation costs that are excluded from Adjusted EBITDA and underlying net profit after tax (UPAT). NPATA is a strong representation of the group's cashflow.As announced in February 2024, NPATA was to be the driver out of which dividends were to be paid when reinstated. In the announcement yesterday, a final 2024 dividend of 10 cps was declared, and the target dividend range was established at 50 - 70% of annual NPATA.UPAT excludes M&A related costs and transformation costs which totalled $42.6m in 2024. It was highlighted yesterday that these items are expected to materially decline in 2025 and are expected to be in the range of $15 - 20m. 2025 UPAT is expected to be in the range of $65 - 73m, 3 - 15% higher than 2024 UPAT of $63.4m.

2025 Adjusted EBITDA of $127m - 135m, NPATA of $54m - 62m, and UPAT of $65 - 73m