Earnings release
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coglimited.com.au Level 1, 72 Archer Street Chatswood NSW 2067 // ABN 58 100 854 788 16 April 2025 The Manager – Listings Australian Securities Exchange Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 Q3 FY25 Unaudited Trading Results COG Financial Services Limited (“COG”) is pleased to announce its unaudited results for Q3 FY25. Results below are presented for Finance Broking & Aggregation (“FB&A”) segment, Novated Leas ing segment, Asset Management & Lending (“AM&L”) segment, and the Other segment. The Other Segment includes estimated post tax share of results from the equity accounted associates Earlypay Limited (EPY) and Centrepoint Alliance Limited (CAF), those estimates have been derived with reference to market consensus. COG is not currently aware of the actual earnings and resulting contribution to the Other Segment from these investments. NPATA1 to shareholders (Unaudited) Q3 FY25 $m Q3 FY24 $m YTD 31 March 25 $m YTD 31 March 24 $m Finance Broking & Aggregation 1.6 2.2 6.6 7.9 Novated Leasing 3.7 2.4 8.4 6.5 Asset Management & Lending 1.4 1.3 4.2 5.7 Other (0.8) (0.5) (1.5) (2.1) Total 5.9 5.4 17.7 18.0 NPATA1 to shareholders (Unaudited) excluding TL Commercial Q3 FY25 $m Q3 FY24 $m YTD 31 March 25 $m YTD 31 March 24 $m Finance Broking & Aggregation 1.6 2.2 6.6 7.9 Novated Leasing 3.7 2.4 8.4 6.5 Asset Management & Lending (excluding TL Commercial) 1.3 1.2 4.0 4.4 Other (0.8) (0.5) (1.5) (2.1) Total 5.8 5.3 17.5 16.7 1 Underlying net profit after tax and before amortisation of acquired intangibles and write-off of intangibles. Commenting on the performance, COG CEO, Andrew Bennett said: “We are very encouraged by the strength of our Novated leasing business throughout Q3. We have seen record volumes, with a spike in activity in March, likely driven by some volume pull forward given the impact of tax incentives ending on 31 March 2025 for Plug-in Hybrid Electric Vehicles. Pleasingly, we have recently been added to the panel for WA Police and Tasman Health Department solidifying our position as a government salary packing and novated lease provider across all states. COG’s underlying performance was up 5% on PCP after allowing for the diminished contribution of COG’s TL Commercial operating lease business, which stopped writing new business in FY 20. In the 9 months period ended 31 March 2024 TL Commercial contributed NPATA to members of For personal use only
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coglimited.com.au Level 1, 72 Archer Street Chatswood NSW 2067 // ABN 58 100 854 788 $1.3m and in the 9 months period ended 31 March 2025 this was $0.2m. This process is now largely complete and there will be limited further profit contribution from this business.” Announcement authorised by: Tony Robinson, Chair For further information please contact: Andrew Bennett Chief Executive Officer M 0405 380 241 Who we are: COG Financial Services Limited (COG) has three complementary businesses: 1. Finance Broking & Aggregation (“FB&A”): Through its membership group of independent and equity owned brokers (brokers in which COG has invested), COG is Australia’s largest asset finance group, representing over $8.9 billion per annum of Net Assets Finance (NAF). Further growth is being achieved through organic growth in equipment finance, insurance broking, and through equity investment in brokers. 2. Novated Leasing (“Novated”): Through Fleet Network and its subsidiaries, Paywise and beCarWise, COG operates in the novated lease and salary packaging sector. Growth is being achieved through organic growth, with a significant opportunity arising from existing tax incentives associated with electric cars financed through a novated lease arrangement. 3. Asset Management & Lending (AM&L”): The largest profit contribution is from peer-to-peer lending on property mortgage-backed business loans via our subsidiary Equity One. As a fee based business, it’s profits are not exposed to changes in interest rates. In addition, through broker distribution, COG provides equipment finance to SMEs, and real property loans via our subsidiary Westlawn Finance Limited. In all three businesses COG’s market share is small relative to the market size in which it operates, and there are significant growth opportunities through future consolidation and organic growth. For personal use only