• Delivered 2-year cost out program, with controllable costs reduced by 6.9%
• Platforms cashflows up 85.2% to $5.1b, driven by new and existing advisers
• Superannuation & Investments on pathway to sustainable positive cashflows

AMP reported strong financial results in FY 25, with underlying NPAT up 20.8% to $285m and underlying EPS up 25.6%. Total revenue was up 2.8%, with increases in the Bank, Superannuation & Investments, Platforms, and Group segments partially offset by a decline in New Zealand Wealth Management. Controllable costs were reduced by 6.9%, reflecting the delivery of the cost-out program, offsetting inflationary pressures and the operational cost of AMP Bank GO. The company's Platforms business saw a significant increase in cashflows, up 85.2% to $5.1b, driven by strong inflows from new and existing advisers. Superannuation & Investments is on a pathway to sustainable positive cashflows, with a focus on member retention and new acquisition initiatives. AMP Bank continued its careful margin management while targeting higher return lending opportunities, and the New Zealand business delivered continued revenue diversification amid a challenging economic environment. The company resolved further legacy legal matters, settling two class actions in the second half of FY 25 and receiving $68m from insurers for historical remediation programs.

AMP expects to deliver underlying NPAT growth of 15-20% in FY 26, driven by continued momentum in its wealth businesses and the benefits of its cost-out program.

AMP is well-positioned to lead in wealth and retirement in Australia and New Zealand, with a focus on expanding its market-leading retirement solutions, exploring new product innovation, and driving customer growth through its direct-to-consumer and adviser channels. The company will also continue to leverage AI and enhance its digital capabilities to improve outcomes for its people, customers, and shareholders.