Qualitas (QAL) investor relations material

Executive summary

• Achieved record capital deployment of AUD 6.5 billion in FY26, up 42% year-over-year, with strong momentum into FY27 and a robust pipeline of large investments.

• Fee earning FUM increased 36% to AUD 11.9 billion, with total capital deployed and available for deployment rising 21% to AUD 14.3 billion.

• Net profit after tax rose 20% to AUD 44.3 million (normalized), with statutory NPAT up 25% to AUD 41.7 million, driven by funds management growth and disciplined cost control.

• Expanded internationally via acquisition of Starz Real Estate in the UK, establishing a European presence and broadening the addressable market.

• Arch Finance loan book grew 36% to over AUD 300 million, with profitability turnaround and expectations for continued growth in FY27.

Financial highlights

• Funds management revenue increased 27% to AUD 85.1 million, with gross operating margin expanding to 54%.

• Net profit before tax (normalized) reached AUD 63.4 million, up 20% year-over-year.

• Normalized earnings per share increased 19% to AUD 0.147.

• Fully franked final dividend of AUD 0.0775 per share, total FY26 dividend AUD 0.1125, up 13%.

• Performance fee revenue rose 70% to AUD 13.7 million, with $19 million in performance fees received post balance date.

Outlook and guidance

• FY27 net profit before tax guidance of AUD 74–80 million, representing 17–26% growth over FY26.

• Earnings per share expected between AUD 0.172 and AUD 0.186.

• Dividend payout ratio to remain between 50% and 95% of operating earnings.

• Guidance assumes broadly neutral contribution from the new UK/European platform, with European expansion and a pan-European fund as key growth drivers.

• Margin expansion expected through scale and AI-driven efficiencies.