Clime Capital (CAM) H2 2024 earnings summary

Executive summary

• Net profit after tax fell 67% year-over-year to $4.3 million, primarily due to lower realised gains and increased unrealised losses on financial assets.

• Revenue from ordinary activities declined 58% to $9.0 million, reflecting challenging market conditions.

• Fully franked dividends increased to 5.4 cents per share, up 3% from the prior year.

• Pre-tax net tangible assets (NTA) per share decreased to $0.81 from $0.86 year-over-year.

Financial highlights

• Investment income dropped to $9.0 million from $21.5 million year-over-year.

• Net realised gains on financial assets were $4.8 million, down from $11.2 million year-over-year.

• Net unrealised losses on financial assets totaled $2.9 million, compared to a $2.2 million gain last year.

• Total operating expenses decreased to $2.8 million from $3.1 million, mainly due to no performance fees accrued.

• Finance costs reduced to $1.9 million from $2.1 million, reflecting fewer notes outstanding.

Outlook and guidance

• The board remains focused on growing fully franked quarterly dividends without excessive risk.

• Future performance is dependent on portfolio investments and broader economic and market conditions.