Steadfast Group
1H23 Results
Investor Presentation
2023
21 February
Table of Contents
1H23 Results Investor Presentation
03
14
22
24
1H23 Highlights
1H23 Financial Summary
Outlook
Appendices
2
1H23 Highlights
3
Continued strong track record since listing on ASX
Steadfast Group
Steadfast Network GWP ($bn)
12
10
8
6
4
2
0
FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 1H23
Underlying NPAT ($m)
150
100
50
0
FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 1H23
Dividend per share (cents per share)
10
5
0
FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 1H23
Steadfast Underwriting Agencies GWP ($bn)
2.0
1.5
1.0
0.5
0.0
FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 1H23
Underlying NPATA ($m)
200
175
150
125
100
75
50
25
0
FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY221H23
Steadfast Client Trading Platform GWP ($m)
1,000
900
800
700
600
500
400
300
200
100
0
FY16 FY17 FY18 FY19 FY20 FY21 FY22 1H23
H1 | H2 | |
Underlying EBITA ($m)
360
320
280
240
200
160
120
80
40
0
FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY221H23
Underlying diluted EPS (NPAT) (cents per share)
18
16
14
12
10
8
6
4
2
0
FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY221H23
Brokers migrated to INSIGHT1
200
150
100
50
0
FY16 FY17 FY18 FY19 FY20 FY21 FY22 1H23
4 | 1 | Some brokers have now merged |
2 | Restated with GWP from PSC excluded from 1 July 2021. |
Steadfast Group
Increase in underlying NPAT of 18.2% pcp
Underlying earnings 1 (refer slide 16)
- EBITA +22.5% to $188.6m (1H22 $153.9m)
- NPAT +18.2% to $90.2m (1H22 $76.3m)
- NPATA +18.8% to $111.1m (1H22 $93.6m)
- Diluted EPS (NPAT) +7.7% to 9.06 cps (1H22 8.41 cps)
- Interim dividend +15.4% to 6.0 cps fully franked (1H22 5.2 cps)
Statutory earnings1
- NPAT of $84.7m (1H22 $104.9m), with the reduction in statutory earnings was due to non-trading items (refer slide 15)
1 For reconciliation of underlying to statutory earnings, refer to slides 15 and 44.
Broker and underwriting agency growth
- Equity brokers (including Network) aggregate underlying EBITA +21.9% (refer slide 18)
- Underwriting agencies' aggregate underlying EBITA +19.1% (refer slide 19)
Diluted EPS growth
- Diluted EPS growth impacted by capital raise to fund acquisitions
Acquisition growth
- Completed EPS accretive acquisitions for a net cost of $449m including IBA (refer slide 6)
- On target to complete $220m of Trapped Capital acquisitions in FY23
Future growth
- As at today, debt facility capacity of $227m available to fund acquisitions (plus free cash flow)
Steadfast distribution footprint
- Total Steadfast distribution CY22 GWP footprint is $13.4b (CY21 $12.1b)
Steadfast Network GWP | $11.5b |
Steadfast Underwriting Agencies GWP | $1.9b |
Total Steadfast GWP | $13.4b |
- PSC is no longer part of the Steadfast Network effective 1 July 2022
5
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Disclaimer
Steadfast Group Ltd. published this content on 22 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2023 04:46:05 UTC.