• Transaction volume growth of 7% supporting growth across all key financial metrics
• Total Adjusted Net Operating Income up 6% to $146.7 million
• Pro forma Adjusted EBITDA up 21% to $35.6 million and pro forma Adjusted EBITDA margin 290 basis points to 24.3%
• Pro forma NPAT up 42% to $21.5 million and pro forma NPAT margin up 380 basis points to 14.7%

Cuscal Limited (ASX:CCL), the leading independent B2B payments business in Australia, has presented its financial results for the half-year ended 31 December 2024, its first since being admitted to the official list of the ASX on 25 November 2024. Consolidated Profit attributable to the owners of Cuscal (Statutory NPAT) decreased $1.5 million (11%) to $12.2 million for December 2024 compared to $13.7 million for December 2023. Statutory NPAT was materially affected by non-recurring 'Offer costs' and other costs incurred as a direct result of listing on the ASX ($13.3 million before tax; $9.3 million after tax) and these are adjusted on a pro forma basis. Pro forma results show transaction volume growth of 7% supporting growth across all key financial metrics, with Total Adjusted Net Operating Income up 6% to $146.7 million, pro forma Adjusted EBITDA up 21% to $35.6 million and pro forma Adjusted EBITDA margin up 290 basis points to 24.3%, pro forma NPAT up 42% to $21.5 million and pro forma NPAT margin up 380 basis points to 14.7%, and pro forma Earnings per Share (EPS) up 42% to 12.1 cents per share. The company remains well capitalised, with a strong regulated balance sheet and capital ratios providing flexibility to pursue growth.

Cuscal is on track to deliver, or modestly exceed, its FY25 Prospectus forecast.

The second half of FY25 will focus on continuing to strengthen Cuscal's core to support and enable the aspirations of its clients and preparation to execute on its avenues of growth for the next 5 years. The company will look to deploy surplus capital through accretive M&A in a disciplined way and continue to actively explore opportunities.