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Cuscal (CCL) investor relations material

Cuscal 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 summary21 Aug, 2025

Executive summary

  • Achieved strong earnings growth across all core capabilities in FY 2025, modestly exceeding IPO prospectus forecasts, and declared a fully franked final dividend of $0.055 per share, totaling $0.10 per share for FY 2025.

  • Successfully completed IPO in November 2024, raising net proceeds of ~$25 million, and announced the strategic acquisition of Indue for $75 million.

  • Exceeded FY25 pro forma NPAT forecast, with pro forma NPAT of $38.4 million, up 17% year-over-year, and pro forma adjusted EBITDA of $65.7 million, up 13% year-over-year.

  • Announced the acquisition of Indue, expected to deliver $15–$20 million in annual post-tax cost synergies by FY29 and over 25% run rate EPS accretion.

Financial highlights

  • Pro forma NPAT rose 17% year-over-year to $38.4 million, exceeding the $36.6 million forecast.

  • Adjusted EBITDA increased 13% to $65.7 million; adjusted EBITDA margin up 140 bps to 22.6%.

  • Adjusted net operating income grew 6% to $290.4 million, with NOI growth across all segments.

  • Transaction volumes grew 8% to 4,277 million.

  • Statutory NPAT was $28.7 million, down 9% year-over-year, impacted by $14.6 million in non-recurring IPO costs.

Outlook and guidance

  • Maintains strong outlook for mid to high single-digit transaction volume growth and double-digit underlying NPAT growth, excluding timing impacts of the Indue acquisition.

  • No material impact expected from RBA's proposed changes to interchange or surcharging fees.

  • Focus remains on client innovation, risk and technology uplift, and Indue integration.

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