Steadfast Group (SDF) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional owners, confirmation of quorum, and addresses from the Chair and CEO outlining the meeting's focus and resolutions.

• Executive and non-executive directors, company secretary, auditor, and senior executives were introduced.

• Agenda included performance review, strategy, voting on resolutions, and Q&A.

Financial performance review

• Achieved 11th consecutive increase in underlying NPAT, reaching AUD 252.2 million, up 21.8%; underlying EBITA rose 22.7% to AUD 528.5 million.

• Statutory NPAT was AUD 228 million, up from AUD 189.2 million in FY23.

• Underlying EPS rose 16.2% to 23.4 cents; market capitalization grew to AUD 6 billion.

• Steadfast Network GWP grew 12.1% to AUD 13.0 billion; Underwriting Agencies GWP up 13.4% to AUD 2.3 billion.

• FY25 Q1 unaudited underlying revenue up 14%, EBITA up 18%, and NPAT up 23.3% from prior year.

Dividend announcements

• Fully franked final dividend of AUD 10.35 per share paid; total FY24 dividends up 14% to AUD 17.17 per share, representing a 75% payout ratio.