ASX (ASX) H1 2026 earnings summary

Executive summary

• Operating revenue rose 11.2% year-over-year to AUD 602.8 million, with growth across all business segments and continued investment in technology and transformation initiatives.

• Statutory net profit after tax increased 8.3% to AUD 263.6 million, while underlying NPAT grew 3.9%.

• CEO transition announced, with a comprehensive process underway to appoint a successor by May 2026.

• Responded to the ASIC Inquiry with significant governance, cultural, and capital changes, including a $150 million capital charge and a reset of the Accelerate program.

• Total expenses climbed 20% to AUD 264.3 million, driven by ASIC Inquiry costs, technology investments, and higher depreciation/amortisation.

Financial highlights

• Operating revenue: AUD 602.8 million (+11.2% YoY); total expenses: AUD 264.3 million (+20% YoY).

• Statutory NPAT: AUD 263.6 million (+8.3% YoY); underlying NPAT: AUD 263.6 million (+3.9% YoY).

• EBITDA margin: 61.4% (down 180 bps YoY); EBIT margin: 56.2% (down 310 bps YoY).

• Interim dividend: AUD 1.018 per share, down 8.5%, payout ratio at 75% of underlying NPAT.

• Net interest income: AUD 40.2 million (down 6.7% YoY).

Outlook and guidance

• FY26 total expense growth guidance raised to 20–23% YoY, or 13–15% excluding ASIC Inquiry costs.

• FY26 CapEx expected at AUD 170–180 million; FY27 CapEx at AUD 160–180 million.

• Medium-term underlying ROE target maintained at 12.5–14.0%.

• Dividend payout ratio expected at the lower end (75%) for at least the next three dividends.

• FY27 expense and FY28 CapEx guidance to be provided by end of financial year.