Fiducian Group (FID) H2 2025 earnings summary

Executive summary

• Net profit after tax increased by 23% year-over-year, with dividends up 19% and business growth continuing despite market volatility from geopolitical events and elections.

• Achieved 10% year-over-year growth in Funds Under Management, Advice and Administration (FUMAA) to $14.84 billion as of June 2025, driven by strong net inflows and platform expansion.

• Operating revenue increased 11% to $89.4 million, with net revenue up 13% and underlying NPAT rising 19% to $21.0 million compared to FY2024.

• Platform and funds management segments delivered robust inflows and margin expansion, supported by technology enhancements and adviser network growth.

• Consistent positive net inflows over the last five years, contrasting with industry outflows.

Financial highlights

• Funds under management (FUM) grew by roughly 10% year-over-year, with revenue and operating income also achieving double-digit growth (11%-13%).

• EBITDA increased by 19% to $30.9 million, and statutory net profit after tax rose 23% to $18.6 million.

• Dividend distribution for the year is 46.6 cents per share, fully franked, with a revised payout policy of 60-80% of underlying NPAT.

• Total FUMAA grew 85% over the last five years, reaching AUD 15.15 billion by July.

• Gross margin improved to 76.4% from 75% in FY2024.

Outlook and guidance

• If financial markets remain stable, steady growth is expected in 2026, with a goal of double-digit EPS growth year-on-year.

• Continued focus on scaling platform and funds management, leveraging technology and adviser network for further growth.

• Starting FY 2026, platform and funds management are both 7-10% ahead of last year’s averages, potentially adding AUD 1.6-2 million in annualized revenue if markets hold.

• Margins are expected to remain stable, with further expansion possible as funds grow.

• Ongoing transition of clients from external to in-house platforms expected to support future inflows.