Full Year 2024 Centrepoint Alliance Ltd Earnings Call Transcript
Key Points
- Centrepoint Alliance Ltd (ASX:CAF) reported a strong financial performance with EBITDA of $9.1 million, up 20% from the previous year.
- The company achieved the highest net growth with 38 new advisers, doubling the nearest competitor.
- The acquisition of Financial Advice Matters contributed $3.6 million in revenue and $1 million in EBITDA.
- Net Promoter Score reached an all-time high of 41, indicating high customer satisfaction.
- Centrepoint Alliance Ltd (ASX:CAF) launched new iQ Managed Portfolios and is on track to launch the IconiQ platform, expanding its product offerings.
- Cash at year-end was $12.2 million, down from the prior year due to the Financial Advice Matters acquisition.
- The company incurred $0.9 million in one-off costs, including $600,000 in employment redundancies and $300,000 in acquisition-related costs.
- Net profit before tax was $5.6 million, down $1 million from the previous year due to the absence of asset sales.
- The final cessation of platform rebates resulted in a $0.9 million revenue reduction.
- Employee entitlements increased by $0.5 million, and there was a $1.5 million increase in provisions, including $1.3 million for deferred consideration related to the FAM acquisition.
Good morning, everyone and thanks for joining us today for the Centrepoint Alliance full-year results investor conference call. My name is John Shuttleworth. I'm the Chief Executive Officer of Centrepoint Alliance. And with me today is Brendon Glass, our Chief Financial Officer. (Event Instructions) But needless to say, if you don't have an opportunity, you can be get in touch with myself or Brendon after the conference call, and we're more than happy to answer any questions that you might have.
So let's jump into the agenda. So what we'll do is I'll kick off with a highlight of the business results and share some industry data. Brendon is then going to step you through the financial results in detail before passing back to me, and I'll just cover our growth strategy and overall outlook.
So kicking off with the business results. So the highlights for the year, we've had a strong result, as you would have seen from the ASX release we put out. Continued strong financial performance with EBITDA of $9.1 million, up 20% on
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