• Revenue of $1.098bn (-6.4% on FY24)
• Normalised EBITDA of $33.264m (-10.0% on FY24)
• Net debt reduced by $27.450m
• $6 million on-market share buy-back announced
• $9m in annualised cost savings from technology transformation

PeopleIN Limited has announced its FY25 results, delivering a resilient performance in another challenging year for the staffing industry, while advancing key strategic initiatives to position the Group for future growth. During the year, PeopleIN was challenged by soft economic conditions, but the business continued to make operational improvements and deliver on opportunities to transform its processes, improving both operational efficiency and balance sheet strength. Normalised EBITDA was $33.264m, down 10.0% on FY24. Hourly rates continued to improve during the year, through contract repricing and better workers' compensation performance. The Group benefited from its recently completed Program Unite technology transformation, with automation and AI trials in recruitment and data analysis delivering $9.095m in annualised cost savings over FY24, taking total operational savings over the past three years to more than $25m. PeopleIN's diversified business model and strong cash generation has enabled the Group to focus on paying down its debt and improving its balance sheet strength. Cash collections were 125.4% of normalised EBITDA, facilitating a reduction in net debt of $27.450m in the year (1.6x net debt to normalised EBITDA). This financial strength, together with the improving business activity, has enabled the Group to move to a dynamic capital management approach to increase shareholder value, including the announcement of a $6 million on-market share buy-back.

With substantial emerging opportunities on the horizon, especially in Queensland driven by Brisbane 2032 infrastructure and an expected surge in construction related employment, we are exceptionally well positioned to capitalise on this momentum.