Australian United Investment Company (AUI) H2 2025 earnings summary

Executive summary

• Statutory profit after tax for FY25 was $49.9 million, up 1.5% year-over-year; excluding special income, profit rose 3.5%.

• Investment portfolio focused on quality Australian companies, with 67% in ASX 20 and 66% of holdings held for over 10 years.

• Portfolio turnover was 8.0%, with major acquisitions in Santos, APA, Origin Energy, Newmont, and NextDC; major disposals included Woodside, Seek, and Ramsay Healthcare.

• The company expects to maintain a steady ordinary dividend and annual special dividend of 8 cents per share in the coming year.

Financial highlights

• Revenue from investment portfolio was $57.0 million (FY24: $57.8 million).

• Profit after tax: $49.9 million (FY24: $49.1 million).

• Earnings per share: 40.2 cents (FY24: 39.0 cents); excluding special income: 39.9 cents (FY24: 37.9 cents).

• Pre-tax NTA per share at 30 June 2025: $12.98 (FY24: $11.74).

• Ordinary dividends per share: 37.0 cents; special dividends: 8.0 cents, both fully franked.

• Management expense ratio remained low at 0.10%.

Outlook and guidance

• Expectation for steady ordinary dividend and continuation of special dividend.

• Anticipates lower EPS growth, possible contraction in price-earnings ratios, and increased focus on value and defensive stocks.