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Cadence Capital (CDM) investor relations material

Cadence Capital H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2025 earnings summary7 Sep, 2025

Executive summary

  • Profit before tax was $6.2m and profit after tax was $6.3m for FY25, down from $21.6m after tax in FY24.

  • Gross fund performance was 3.4% for FY25, underperforming the All Ordinaries Accumulation Index, which rose 13.2%.

  • Strong second half performance (+7.3%) partially offset first half underperformance.

  • Final dividend of 3.0c per share (50% franked), full year dividend 6.0c per share, yielding 8.8% (10.7% gross).

  • On-market buy-back planned for shares issued under the DRP when trading at a discount to NTA.

Financial highlights

  • Net asset value at 30 June 2025 was $292.3m, down from $304.1m in 2024.

  • Net investments at year-end were $207.0m, down from $246.7m in 2024.

  • Basic and diluted EPS were 2.1 cents, down from 7.2 cents in FY24.

  • Cash and cash equivalents increased to $83.1m from $65.7m, with bank overdrafts of $49.0m.

  • No performance fee was earned by the manager in FY25.

Outlook and guidance

  • Global markets face slowing growth, political uncertainty, and central bank policy easing.

  • Upside risk to long-term interest rates and inflation is anticipated, with gold equities remaining a core exposure.

  • Market volatility expected to provide more trading opportunities.

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Frequently asked questions

Cadence Capital Limited is an investment company that specializes in managing a diversified portfolio aimed at delivering long-term capital growth and income. The company employs a fundamental investment strategy, focusing on selecting undervalued listed equities with strong growth potential across various sectors. Cadence Capital combines a top-down and bottom-up analysis approach to identify promising investment opportunities, aiming to capitalize on market inefficiencies and generate returns that outperform relevant benchmarks over time. Cadence Capital Limited is headquartered in Sydney, Australia, and its shares are listed on the ASX.

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