COG Financial Services (COG) Q4 2024 TU earnings summary

Executive summary

• Underlying performance up 12% year-over-year after adjusting for reduced TL Commercial contribution.

• TL Commercial business closure nearly complete, with limited future profit expected from this segment.

• Earnings replaced by investments in other business segments.

Financial highlights

• FY24 NPATA to shareholders: $24.1m, up from $23.7m in FY23.

• Q4 FY24 NPATA: $6.1m, compared to $6.8m in Q4 FY23.

• Excluding TL Commercial, FY24 NPATA: $22.7m, up from $20.3m in FY23.

Outlook and guidance

• Significant growth opportunities remain in all three business segments due to small current market share and potential for consolidation and organic growth.

• Novated Leasing segment expected to benefit from tax incentives for electric vehicles.