Netwealth delivers 34.5% NPAT growth and current FUA1 $40.7 billion

1H2021 financial results highlights (PCP2 )

~ EBITDA of $40.5 million ($31.1 million), increase of 30.1% to PCP.

~EBITDA margin of 56.0% (53.1%) for 1H2021.

~ NPAT of $27.6 million ($20.5 million), $7.1 million increase or 34.5% increase to PCP.

~ Total Income of $72.4 million ($58.7 million) an increase of $13.7 million or 23.4% to PCP. Platform Revenue of $71.2 million ($57.3 million), an increase of $13.8 million or 24.1% to PCP.

~ Total Operating Expenses of $31.9 million ($27.5 million), an increase of $4.3 million to PCP, up 15.8% (including increase in employee benefits of $3.9 million, up 19.5% to $23.7 million for 1H2021). Headcount at 31 December 2020 of 371 with an additional 32 roles added in 1H2021.

~Operating net cash flow pre-tax3 of $40.5 million ($31.3 million), an increase of $9.1 million or 29.2% to PCP.

~EPS of 11.3 cents (8.4 cents), an increase of 2.9 cents or 34.5% to PCP.

~ On 17 February 2021, the board declared a fully franked interim dividend of 9.06 cents per share totalling $22.1 million for 1H2021. The dividend is payable on 26 March 2021. The exdividend date is 22 February 2021.

~ On 17 February 2021, Jane Tongs retired from the board and Tim Antonie was appointed as Chairman. On 1 February 2021 a new independent non-executive director, Kate Temby, was appointed.