FY25 Results Announcement

• NPAT up 19% to $7.1 million
• Operating profit up 39% to $10.4 million
• Recurring revenue up 5% to $10.8 million

Microequities Asset Management Group Limited announced its FY25 financial results, which showed solid performance across key metrics. NPAT increased by 19% to $7.1 million, operating profit grew by 39% to $10.4 million, and recurring revenue rose by 5% to $10.8 million. The company's investment performance supported its funds under management (FUM) levels, enabling these positive results despite weak inflows into the asset class across the broader sector. Microequities also saw a 222% increase in performance fee income to $3.7 million. Given the strength of the balance sheet and improved operating and net profit performance, the Board has declared a fully franked final dividend of 2.0 cents per share, bringing the total FY25 dividend to 3.9 cents per share. The company enters FY26 with a confident outlook, underpinned by the strength of its investment portfolios and the successful launch of its first corporate private credit SPV, which was fully subscribed in six days. The product launch is significant as it further diversifies Microequities' offering beyond listed industrial small and microcap companies. The company's Microequities Venture Capital Fund, launched in late 2016, also delivered performance carry fees during FY25 and is expected to generate additional carry fees in FY26.

The company expects to generate additional performance fees in FY26.

Microequities enters FY26 with a confident outlook, underpinned by the strength of its investment portfolios and the successful launch of its first corporate private credit SPV. The company will look to build and explore further transactions in the corporate private credit market that have favourable risk-adjusted return profiles for its clients.