EQT (EQT) Investor Day 2025 summary

Strategic direction and business model

• Maintains focus as Australia's leading independent trustee, leveraging a trusted brand and unrivalled licenses across private, corporate, and superannuation trustee services.

• Pursues growth through digital service expansion, new market creation, and disciplined inorganic opportunities.

• Benefits from industry tailwinds: intergenerational wealth transfer, superannuation pool growth, and increased demand for independent governance.

• Revenue is highly diversified across business lines, with no sub-segment exceeding 19% and client concentration risk reduced from 34% to 24% since FY21.

• Recurring, indexed revenue streams and low client turnover underpin long-term stability.

Financial performance and guidance

• Funds under management, administration, advice, and supervision (FUMAS) reached $229b as of February 2025, up 3.2% since December 2024.

• Asset management business manages $6.1b, with a 14% compound growth rate over the last four years.

• Dividend growth has been consistent, with a 5.5% CAGR since FY16 and a maintained dividend during COVID-impacted years.

• Announced $6m expense reduction in 2H25, split evenly between operating and non-operating costs.

• Positive earnings growth expected for 2H25 and FY26, supported by FUMAS growth and technology investments.

Business segment highlights

• Trustee Wealth Services (TWS) benefits from demographic trends, government focus on philanthropy, and intergenerational wealth transfer.

• TWS expanding digital offerings, notably with the iPhi platform to drive growth in active philanthropy.

• Corporate & Superannuation Trustee Services (CSTS) leads in responsible entity and superannuation trustee services, with strong growth in new fund establishments and platform funds.

• CSTS superannuation FUM CAGR of 40.4% (FY19–1H25), with continued growth from fund consolidations and new large mandates.

• Asset management delivers tailored, tax-aware solutions for for-purpose clients, with a stable, long-duration capital base.