AJ Bell PLC (FRA:3FY)

Full Year 2025 AJ Bell PLC Earnings Call (Pre-Recorded) Transcript

Dec 4, 2025 / 07:00 AM GMT

Release Date Price: €5.55 (-5.93%)

Transcript

Key Points

Positve

Platform customers increased by 102,000, marking a 19% growth to 644,000 total customers.
Platform assets under administration rose to GBP103.3 billion, a 19% increase driven by record net inflows and positive market movements.
Revenue grew by 18% to GBP317.8 million, supported by strong recurring ad valorem and transactional revenues.
Profit before tax increased by 22% to GBP137.8 million, with a profit margin of 43.4%.
The Board recommended a final ordinary dividend of 9.75p per share, marking the 21st consecutive year of dividend growth.

Negative

Total costs increased by 15% to GBP185.9 million, impacting overall profitability.
Revenue margins are expected to moderate in FY26 due to reduced FX activity and lower cash balances.
Non-platform business revenue of GBP12.7 million will not recur in FY26, impacting future revenue.
Profit before tax margin is expected to decrease to between 39% and 40% in FY26 due to increased investment.
There is ongoing uncertainty in the regulatory and legislative landscape, particularly concerning pension tax policies.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AJBA.L - AJ Bell PLC
Full Year 2025 AJ Bell PLC Earnings Call (Pre-Recorded)
Dec 04, 2025 / 07:00AM GMT

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Conference Call Participants
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* Danni Hewson
AJ Bell PLC - Head of Financial Analysis
* Michael Summersgill
AJ Bell PLC - Chief Executive Officer, Executive Director
* Peter Birch
AJ Bell PLC - Chief Financial Officer, Executive Director

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Presentation
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Danni Hewson, AJ Bell PLC - Head of Financial Analysis [1]
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Hello, and welcome to AJ Bell's 2025 annual results video. In just a moment, you'll hear from our CEO, Michael Summersgill; and CFO, Peter Birch.

But first, let's take a look at some of the standout numbers from the year. Platform customers increased by 102,000 to close at 644,000, an increase of 19%. Platform assets under

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