Servcorp (SRV) AGM 2024 summary

Opening remarks and agenda

• Meeting held on 14 November 2024, covering FY24 overview, FY25 update, outlook, dividends, and business focus.

Financial performance review

• FY24 underlying operating revenue reached $295.7M, up 9% on prior corresponding period (PCP).

• Underlying NPBIT for FY24 was $56.6M, an 18% increase on PCP.

• Underlying free cash for FY24 was $12.5M, up 18% on PCP.

• Return on Funds Employed (ROFE) improved to 68% in FY24, with 1H25 estimated at 70%.

• FY25 commenced with a robust start, with YTD underlying free cash up $3.6M on PCP.

Dividend announcements

• FY24 dividend per share (DPS) was 25.0 cents, up 14% on PCP.

• Dividend yield stands at 6.6%, with a 200% total shareholder return since August 2020.

• FY25 estimated interim and final dividends are projected to maintain or slightly increase from FY24 levels.