Peoplein (PPE) investor relations material

Executive summary

• Strategic transformation included divestment of lower-growth businesses and a focus on high-growth sectors such as infrastructure, manufacturing, agriculture, and food services, aiming to improve shareholder returns.

• Ongoing business delivered AUD 10.5 million in earnings, down from last year due to lower PALM worker numbers and reduced hours.

• Entered agreement to acquire Infrawork Holdings in New Zealand for NZD 24 million, expanding international workforce solutions and labor mobility across Asia-Pacific.

• Share buyback program continued, with over AUD 1.7 million of shares repurchased and capital recycling into higher growth initiatives.

• Net loss for the half year was $27.1M, impacted by divestment losses and lower earnings from discontinued operations.

Financial highlights

• Revenue from ongoing operations was $394.0M, flat sequentially but down 8.2% year-over-year.

• Normalized EBITDA from ongoing operations was AUD 10.5 million, up 46.5% sequentially but down 9.2% year-over-year.

• Normalized NPATA per share at AUD 0.046, up 52.3% from the prior period.

• Net revenue margin at 20.2% for the period, with a target to return to 25%.

• Operating expenses down 3.6% year-over-year, with further reductions in interest and amortization improving NPATA.

Outlook and guidance

• Expectation of continued improvement in billed hours and billing rates, especially in food, agriculture, and infrastructure.

• PALM worker numbers expected to stabilize, with significant growth not anticipated until 2027.

• Infrawork acquisition expected to complete in Q3 FY 2026, with anticipated NZD 5 million earnings and potential for further earn-out.

• Gradual improvement in economic conditions and business confidence expected in H2 FY26 and FY27.

• Short-term earnings constrained by delays in PALM visa processing and housing shortages.