Qualitas (QAL) AGM 2025 summary

Opening remarks and agenda

• AGM opened with acknowledgment of traditional custodians and a welcome to both in-person and online participants.

• Board of Directors and executive team introduced, including external auditors and company secretary.

• Agenda included Chair and Group Managing Director addresses, formal business items, and a Q&A session.

Financial performance review

• FY2025 saw record earnings growth, with normalised net profit before tax at AUD 53 million (up 36%) and statutory net profit after tax at AUD 33 million (up 28%).

• Fee-earning funds increased by 28% to AUD 8.7 billion, driving over 30% growth in base management and principal income.

• Total committed funds under management and deployed capital reached AUD 10.5 billion, a 17% increase from FY2024.

• Cash balance at year-end was AUD 149 million, with a balance sheet yield of approximately 9%.

• Funds management EBITDA rose to AUD 56 million, a 39% increase, with a margin of 52%.

Board and executive committee updates

• Darren Steinberg and Bruce McDermott (also referred to as Bruce MacDiarmid) joined as Independent Non-Executive Directors, bringing significant industry experience.

• Brian Delaney retired after three and a half years of service.

• Board composition and governance processes regularly reviewed for alignment with best practices.

• Executive team roles highlighted, including new hires to strengthen origination and structured finance.