Argentex Group (AGFX) Trading Update summary

Financial performance and outlook

• FY24 revenues expected at approximately £50.3m, slightly above FY23 and surpassing original mid £40m guidance.

• EBITDA margin for the year is in line with expectations, despite ongoing investment in strategic initiatives.

• Trading momentum improved in H2 2024, with second-half revenues exceeding the first half.

Strategic initiatives and expansion

• Licences granted in Australia and Dubai, with both offices now fully operational and expected to contribute to future revenues.

• Australian Financial Services Licence (AFSL) and Dubai DFSA Category 3A licence enable expansion into new markets.

• Leadership team strengthened with key hires, including a new COO and experienced executives in alternative banking, operations, and technology.

Product and technology development

• Progressing towards a unified Argentex Global Platform (AGP) to support new product and service launches.

• Technology and product roadmap focuses on automation, efficiency, and enhanced customer experience via self-serve models.

• New services are on track for launch in H2 2025, supporting diversification into payments and alternative banking.