Full Year 2024 Praemium Ltd Earnings Call Transcript
Key Points
- Praemium Ltd (ASX:PPS) reported a strong EBITDA of $21.5 million for the year, with a significant uplift in the second half.
- Revenue grew by 11% year-over-year to $84.9 million, with a 15% increase in the second half.
- The company has $57.4 billion in assets under administration, indicating a scalable market position.
- Praemium Ltd (ASX:PPS) announced a fully franked $0.01 dividend, reflecting disciplined capital management.
- The acquisition of OneVue is seen as strategically valuable, accretive, and provides greater scale.
- Expenses increased by 15%, leading to a 7% reduction in EBITDA despite revenue growth.
- The company faces potential revenue headwinds from client losses in the VMA segment due to changes in ownership.
- There is a need for continued investment in technology and R&D, which may impact short-term profitability.
- The integration of OneVue requires significant management attention and resources.
- The company has experienced advisor exits, which could impact future growth and client retention.
Thank you, and welcome, everyone. Thank you for joining us for our annual financial results presentation. At Praemium, we acknowledge the traditional custodians of country. We pay our respects to their elders past, present, and emerging.
I draw your attention to the disclaimer. I won't leave it up long enough for anyone to read it, but it is available on the ASX website for those who would like to see what we say in that.
I'm joined today by David Coulter, the CFO, and our agenda today is to go through very quickly some of the highlights for this past financial year. Then David will go through the financial results in some detail, and we'll conclude with a brief discussion about the strategy going forward, followed by questions and answers.
So if I go to the business highlights for the year just gone, we've talked in the past about a new leadership team and a strategy that goes with that new leadership team. And so this slide, we are just draw your attention to the reality is we're trying to
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