Steadfast Group (SDF) investor relations material

Executive summary

• Underlying NPATA rose 17.2% to $295.5M and underlying EBITA increased 11.9% to $591.4M for FY25, with diluted EPS NPAT up 14.2% to 26.7cps.

• Statutory NPAT was $334.9M, up from $228.0M in FY24, reflecting strong organic and acquisition-driven growth.

• Leadership transition underway, with new executives in key roles and succession planning, including new CEOs for Australasia Broking and Underwriting Agencies.

• Continued expansion through acquisitions, including Novum in the US, InsureBot in technology, and H.W. Wood in the UK.

• Business divisional earnings reporting will be restructured for FY26.

Financial highlights

• Revenue grew 8.9% year-over-year to $1,825.7M, with EBITA up 11.9% and NPATA up 17.2%.

• Diluted EPS NPAT increased 14.2% to 26.7cps; cash EPS up 11.6%.

• Free cash flow reached $124.9M, and total FY25 dividends increased 13% to 19.5cps (fully franked).

• Gearing ratio at 27%, well below the 35% maximum, with $365M additional borrowing capacity.

• Organic growth rate for the group was 8.8%, with acquisition growth of 3.1%.

Outlook and guidance

• FY26 guidance: underlying NPATA $360–$375M, NPAT $315–$325M, EBITA $650–$665M, and underlying NPAT EPS growth 6–10%.

• Organic growth target set at 3–7%, with a stretch target of 7%.

• Guidance assumes 3–5% increase in insurance premium pricing in Australia, mainly covering claims cost inflation.

• Continued focus on maintaining margins despite moderating revenue and expense base.