Praemium Limited (ASX:PPS) Announces 2025 Half-Year Results
Financial Performance
Praemium Limited reported revenue of $52.3 million for the half-year to 31 December 2024, a 32% increase compared to $39.7 million in the prior corresponding period. Underlying EBITDA rose by 43% to $12.9 million, and statutory NPAT reached $5.8 million, up 45%.
Business Highlights
The revenue growth was driven by an additional $6.0 million from OneVue and higher average Platform FUA of $30.2 billion, including $4.2 billion from OneVue. Platform margins, excluding OneVue, improved by 3 basis points to 28 basis points due to SMA repricing. The number of non-custodial portfolios increased to 65,706 in Scope and 9,416 in Scope+.
Expenses and Investments
Expenses increased to $44.8 million in HY25, primarily due to OneVue expenses of $6.6 million. This rise included one-off costs from the OneVue acquisition and investments in employee expenses, technology, and marketing for the Spectrum IDPS service.
Dividend Declaration
Praemium declared a fully franked dividend of 1 cent per share to be paid on 21 March 2025, with the record date set for 7 March 2025.
Executive Comments
Chief Executive Officer, Mr Anthony Wamsteker, stated, “This is an outstanding continuation of the momentum built through the 2024 financial year. We have greatly improved our organic growth, repriced our core SMA to reflect its top tier market position, rebounded from the impact of adviser exits, launched a market leading IDPS with Spectrum, restructured operations offshore and returned earnings to shareholders.
I look forward to the added value to come from fully integrating our OneVue acquisition, repricing our market dominant non-custodial Scope solutions and gaining further growth from Spectrum.
As always, I recognise that these important benefits to shareholders are the product of incredible work from our people, the choices our advisers and their clients make and the privilege it is to serve to them. I thank all our key stakeholders for their contributions and the remarkable results they have helped produce.”
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Praemium. 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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