Cuscal (CCL) H2 2026 earnings summary

Executive summary

• FY26 marked a transformational year with 20% growth in underlying net operating income and NPAT, driven by organic expansion and the acquisitions of Indue and Paymark, which expanded scale and capabilities across Australia and New Zealand.

• Statutory NPAT rose 49% to $42.7 million, reflecting strong operational performance and acquisition impact.

• Integration of Indue is progressing well, with $2.1 million post-tax synergies realized and $4 million post-tax integration costs in FY26; full annual run rate cost synergies of $15–$20 million post-tax expected by FY29.

• Paymark acquisition delivers immediate scale in New Zealand, broadening product offerings and client base with limited integration requirements.

• Robust capital position maintained, with a final dividend of 7.0c per share and a full-year dividend of 11.5c per share.

Financial highlights

• Underlying net operating income grew 20% to $347.7 million year-over-year, with Indue contributing $34.8 million and Paymark $5.2 million.

• Underlying NPAT rose 20% to $46.2 million, and statutory NPAT increased 49% to $42.7 million.

• Aggregate transaction volume increased 12% to 4.8 billion.

• Earnings per share increased 20% to 23.9c; statutory EPS up 43% to 22.1c.

• Final dividend of 7.0c per share, full-year dividend 11.5c per share.

Outlook and guidance

• FY27 outlook targets mid-20s% year-on-year growth in underlying NPAT and transaction volumes, supported by ongoing transaction volume growth, margin expansion, and full-year contributions from Indue and Paymark.

• Organic growth anticipated in the low double digits, with Indue and Paymark contributing mid-single and low double-digit growth, respectively.

• Guidance includes expected synergies and Paymark switch investment.