Navigator Global Investments Limited (ASX:NGI) Announces Strong Financial Results for 2024
Financial Performance
Navigator Global Investments Limited (ASX:NGI) reported a 40% increase in revenue to USD 148.063 million for the year ended 31 December 2024. Earnings before interest, tax, depreciation, and amortisation (EBITDA) surged by 279% to USD 84.536 million, while adjusted EBITDA rose by 16% to USD 41.023 million. Net profit attributable to members soared by 589% to USD 68.791 million, with basic earnings per share increasing by 219% to 12.51 cents.
Key Drivers
The substantial profit growth was primarily driven by a positive change in the carrying value of investments recognised at fair value through the profit and loss statement, robust performance fee revenue from the company’s wholly-owned US subsidiary, and the impact of a prior period non-recurring expense related to settling a financial liability.
Dividends
Navigator declared a final dividend of US 3.0 cents per ordinary share for 2024. The company’s dividend policy aims to pay US 3-4 cents per share, unfranked but potentially carrying foreign income credits, while directing significant operational cash towards business growth.
Assets Under Management
The Group’s ownership-adjusted assets under management (AUM) grew to USD 27.1 billion by year-end 2024, marking a 4% increase driven by strong investment performance and net inflows.
Outlook
With an adjusted EBITDA of USD 41.1 million, up 16% from the prior period, Navigator expects continued growth driven by Lighthouse’s performance fee revenue and management fees.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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