ASX (ASX) H1 2026 earnings summary

Executive summary

• Operating revenue rose 11.2% year-over-year to AUD 602.8 million, with strong 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.

• Transformation strategy advanced, focusing on technology modernization, customer-driven growth, operational resilience, and response to ASIC Inquiry recommendations.

• Total expenses climbed 20% year-over-year, driven by ASIC Inquiry costs, technology investment, and higher depreciation/amortisation.

Financial highlights

• Operating revenue reached AUD 602.8 million, up 11.2% year-over-year, driven by growth in Securities & Payments, Markets, and Technology & Data.

• Underlying NPAT increased 3.9% to AUD 263.6 million; statutory NPAT up 8.3%.

• EBITDA margin was 61.4%, down 180 bps; EBIT margin at 56.2%, down 310 bps.

• Interim dividend of AUD 1.018 per share declared, down 8.5%, with a payout ratio at the lower end of guidance.

• Net interest income fell 6.7% to AUD 40.2 million, impacted by lower rates and higher lease expenses.

Outlook and guidance

• FY26 total expense growth expected between 20% and 23%, including ASIC Inquiry costs; excluding these, growth is 13%-15%.

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

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

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

• Additional AUD 150 million net tangible assets to be accumulated by June 2027 as a capital charge.