Generation Development Group (GDG) H2 2025 earnings summary

Executive summary

• Achieved record growth across all business segments, with significant increases in FUM, revenue, and NPAT year-over-year.

• Completed full acquisition of Lonsec and Evidentia, consolidating results and expanding managed accounts and research capabilities.

• Maintained leading market positions in investment bonds, managed accounts, and research, supported by strategic alliances and product innovation.

• Strategic alliance with BlackRock to accelerate growth in the lifetime annuity segment.

• Restructured business to drive accountability and performance across subsidiaries.

Financial highlights

• Revenue up 191% to $141.3 million; underlying NPAT up 170% to $30.2 million year-over-year.

• Statutory NPAT increased 555% to $38.2 million, reflecting acquisition-related gains.

• Generation Life revenue up 29% to $62.4 million; Lonsec revenue up 18% to $72.1 million.

• Evidentia revenue up 63% to $16.5 million; underlying profit up 97% to $5.3 million.

• Investment bonds FUM grew 33% to $4.4 billion; managed accounts FUM surged 178% to $29.6 billion.

Outlook and guidance

• Expecting continued strong growth in FY 2026, leveraging legislative tailwinds and product innovation.

• Focus on expanding product offerings and distribution through the BlackRock alliance.

• Targeting 20%-30% underlying earnings growth over the next 4-5 years.

• Continued pursuit of high-growth acquisitions and managed account sector expansion, with the market expected to more than double by 2030.

• Significant investment planned in response to Division 296 superannuation tax changes.