Propel Funeral Partners (PFP) AGM 2025 Presentation summary

Strategic direction and leadership

• Focused on a clear growth strategy through acquisitions and operations in the death care industry across Australia and New Zealand.

• Leadership transition with co-founders Fraser Henderson and Lilli Rayner appointed as Co-CEOs, and Arash Noaeen promoted to CFO.

• Board comprises experienced independent directors and co-founders, emphasizing stakeholder value.

Financial performance and shareholder returns

• FY25 revenue reached $225.8m (up 7.9%), operating EBITDA $56.2m (up 1.4%), and operating NPAT $21.6m (up 2.2%).

• Average revenue per funeral grew to $6,721, with a CAGR of ~3.1% since FY15.

• Cash flow conversion remained strong at 102.2% in FY25.

• Fully franked dividend of 14.4cps for FY25, matching FY24.

• Share price increased 77% since IPO, outperforming the ASX300 index.

Growth, acquisitions, and market position

• Operates 208 locations (126 owned, 82 leased), including 41 cremation facilities and 9 cemeteries.

• Completed ~$17m in acquisitions in FY25 and FY26 YTD, with ~$306m committed since IPO.

• Maintains a diversified brand portfolio with strong local presence.

• Increased market share in a fragmented industry, now performing ~9% of Australian funerals.

• $140m funding capacity available for further growth.