Steadfast Group (SDF) H1 2026 earnings summary

Executive summary

• Achieved strong 1H26 growth with underlying revenue up 14.6% to ~$1,010.4m and underlying EBITDA/EBITA up 12.6% to $293.6m, driven by acquisitions, improved subsidiary performance, and disciplined expense management.

• Underlying NPAT increased 7.3% to $137.5m; diluted EPS (NPAT) up 7.2% to 12.4 cps.

• Statutory NPAT was $127.0m, up from $106.4m in the prior period.

• Interim dividend increased 5.1% to 8.2 cps, fully franked, with a Dividend Reinvestment Plan in place.

• Maintained disciplined capital allocation and expense management, with ongoing portfolio evaluation and cost reductions to benefit 2H26.

Financial highlights

• Revenue rose 14.6% to $1,010.4m; net fee and commission income increased to $734.3m.

• Underlying NPAT up 7.3% to $137.5m; underlying diluted EPS (NPAT) increased 6.9% to 12.4 cps.

• Statutory NPAT was $127.0m, up from $106.4m; profit before tax was $239.4m, up from $176.5m.

• Free cash flow rose to $34.7m, with net cash inflows from operating activities at $177.3m.

• Gearing ratio at 33.4%, well below the 40% board-approved maximum; total borrowings at ~$1.2b.

Outlook and guidance

• FY26 guidance reaffirmed: underlying NPATA $365–$375m, NPAT $315–$325m, EBITA $650–$665m, diluted EPS (NPAT) growth of 6–10%.

• Guidance assumes 2–3% increases in Australian insurance premium pricing, with current trends closer to 3%.

• Expense reductions and acquisition contributions expected to drive stronger second half performance.