AUB Group (AUB) H2 2025 earnings summary

Executive summary

• Underlying NPAT grew 17.1% year-over-year to AUD 200.2 million, exceeding guidance, driven by organic growth and acquisitions, with major investments in Pacific Indemnity, Momentum, and Movo expanding UK retail scale.

• Revenue increased 12.7% to AUD 1.5 billion, with margin expansion across all divisions and strong performance in BizCover and Agencies.

• Portfolio optimisation in Australian Broking led to a 37.8% EBIT margin, and international expansion marked FY25.

• Completed 16–19 investments, including bolt-ons and strategic acquisitions, accelerating growth in key markets.

• Positive outlook for FY26, with initial UNPAT guidance of AUD 215–227 million, representing 7.4%–13.4% growth.

Financial highlights

• Underlying NPAT: AUD 200.2 million (+17.1% YoY); Revenue: AUD 1.5 billion (+12.7% YoY); EBIT margin expanded to 34.7%.

• Underlying EPS rose 9.5% to 171.75 cents per share.

• Total dividend for FY25 was 91.0 cents per share, up 15.2%, with a payout ratio of 50–70%.

• Organic NPAT growth was 11.9%, with 12.1% from acquisitions.

• Accessible cash and undrawn debt facilities totaled AUD 375 million at year-end.

Outlook and guidance

• FY26 UNPAT guidance: AUD 215–227 million, EPS of 184.41–194.7 cents, up 7.4%–13.4% year-over-year.

• Guidance includes only highly likely acquisitions and equity investments, assuming further interest rate reductions and rational premium pricing.

• FX sensitivity: ±1% change in AUD/USD impacts FY26 UNPAT and EPS by ~0.3%.

• Medium-term margin targets remain on track, with further upgrades possible.

• Priorities include portfolio optimisation, technology delivery, and international expansion.