Ryder Capital (RYD) H2 2024 earnings summary

Executive summary

• Total comprehensive income after tax for FY24 reached $18.1m, a 363% increase year-over-year.

• Final dividend lifted 18% to 5.0 cents per share fully franked, annual dividend at 9.0 cents per share.

• Strong investment performance, materially exceeding both internal hurdle and comparable ASX indices.

Financial highlights

• Pre-tax NTA increased 25.15% to $1.3875 per share compared to FY23.

• Total distributable profits reserve decreased to $25.5m, with $0.21 per share available for dividends.

• Share buyback of ~1.74m shares at an average price of $1.06 per share, totaling $1.85m.

Outlook and guidance

• Global equity market outlook is increasingly uncertain due to potential US recession and reassessment of economic conditions.

• High global interest rates provide central banks with room for monetary support if needed.

• Portfolio positioned with increased cash holdings and undervalued companies to weather volatility and seize opportunities.