MA Financial Group Limited (ASX:MAF) Announces FY24 Financial Results
Financial Performance
MA Financial Group Limited (ASX:MAF) reported underlying revenue of $306.6 million for FY24, a 14% increase from FY23. Assets under management rose by 12% to $10.3 billion. Underlying EBITDA reached $87.1 million, up 7% compared to the previous year. The company declared a fully franked final dividend of 14 cents per share, bringing the total FY24 dividends to 20 cents per share, consistent with FY23.
Operational Highlights
The Group achieved record annual fund inflows of $2.7 billion, with gross inflows up 27% to $2.2 billion plus $500 million of institutional committed capital. Finsure managed loans grew by 26% to $139 billion, while MA Money’s loan book surged by 155% to $2.1 billion, becoming profitable in the second half of FY24 with a net interest margin of 1.4%. Corporate Advisory fees increased by 16% to $50 million, supported by enhanced M&A and capital solutions activity.
Executive Comments
Joint CEOs Julian Biggins and Chris Wyke stated, “We are very pleased with the strong momentum witnessed right across our business in the second half of 2024. Our Assets under Management and Loan books continue to grow rapidly and the transactional environmental is slowly improving after a difficult period. Underlying EPS in FY25 is expected to be materially higher than FY24. We believe that the Group is in great shape and ready to deliver strong earnings growth into the future.”
Future Outlook
MA Financial anticipates underlying EPS in FY25 to be significantly higher than FY24, driven by the profitability of MA Money and continued growth across all divisions. The Group is in advanced stages of finalising the remaining $500 million commitments for its Real Estate Credit partnership with Warburg Pincus. Investment in strategic growth initiatives is expected to decrease, focusing on expanding the US Private Credit platform.
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 recommended Ma Financial Group. 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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