• Funds under management, administration and supervision (FUMAS) reached a record $283.7 billion, up 28.0%
• Revenue increased 11.8% to $100 million, with growth in Trustee Wealth Services and Corporate Trustee Services
• Underlying net profit before tax up 24.5%, boosted by revenue growth and AET synergies

EQT Holdings Ltd has announced its results for the half year ending 31 December 2025, reporting strong financial performance. Funds under management, administration and supervision (FUMAS) reached a record $283.7 billion, up 28.0% on the prior comparative period. Revenue increased 11.8% to $100 million, driven by growth in the Trustee Wealth Services (TWS) and Corporate Trustee Services (CTS) businesses. Operating expenses increased 7.1% to $69.7 million. Underlying net profit before tax (NPBT) was up 24.5% due to revenue growth, the full year benefit of AET synergies, and disciplined management of expenses. NPBT increased 53.9% to $30.3 million, boosted by the ending of costs associated with the AET integration. Net profit after tax increased 67.0% to $20.5 million. The company declared an interim dividend of 56 cents per share, consistent with the prior half. The TWS and CTS businesses delivered positive topline and margin growth due to continued new business and steady existing client performance. The company incurred $1.0 million in legal and advisor costs (net of insurance) to defend the ASIC action related to the Shield/First Guardian matters, and a further $1.1 million in advisor and consultancy costs to enhance Superannuation governance processes and respond to regulatory notices. The EQT Holdings Board announced a strategic review of the Superannuation Trustee Services (STS) business, taking into account future cashflows and goodwill.

The company expects to incur continued elevated legal and advisor costs over the second half of FY26 as a result of continuing regulatory notices, the litigation defence, and the strategic review of the Superannuation business. Results will continue to be impacted by investment markets.

The outlook remains positive, supported by a robust business model and favourable industry fundamentals. The company continues to see strong demand for Responsible Entity, Custody and Health & Personal Injury services, and has delivered margin improvements in Trustee Wealth Services and Corporate Trustee Services. While there is uncertainty during the strategic review of the Superannuation business, the company is confident it can maintain its leading market position and deliver ongoing growth in key segments.