Ryder Capital (RYD) investor relations material

Executive summary

• Statutory loss after tax of $1.96m for 1H FY26, compared to a profit of $1.23m in 1H FY25; total comprehensive income after tax was $42.53m, up from $13.02m year-over-year.

• Pre-tax net tangible assets (NTA) per share rose to $2.2476 from $1.6272 at 30 June 2025, after a $0.055 fully franked dividend per share.

• Gross portfolio performance for the half-year was 54.65%, significantly outperforming the ASX Small Ordinaries Accumulation Index (17.39%).

• Enhanced dividend policy introduced, with quarterly fully franked dividends of 3.0 cents per share, equating to an annual commitment of 12.0 cents per share.

Financial highlights

• Total investment income for the half-year was $6.34m, up from $2.29m in the prior period.

• Management and performance fees totaled $9.21m, with a performance fee accrual of $8.1m recognized.

• Net cash used in operating activities was $5.01m, while investing activities provided $23.0m in net cash.

• Cash and cash equivalents at period end were $22.72m.

Outlook and guidance

• Ongoing equity market volatility expected due to elevated valuations and global policy uncertainty.

• Portfolio positioned defensively with high cash levels and focus on profitable, value-oriented companies.

• Dividend policy aims for steady to increasing fully franked dividends, supported by a strong distributable profits reserve.