FY2021 Highlights
• Significantly improved EBITDA of $11.5M, up 139% vs. pcp of $4.8M
• Accelerating 2H21 momentum, with EBITDA of $7.5M
• Strong NPAT $5.5M, up 187%
• Increasing operating profit margin of 9.9%, vs. pcp of 5.71%
• Final dividend declared (0.6 cents per share)
• Strengthened balance sheet, with net operating cash greater than $15M
• Australia’s fourth largest nonaligned advisory platform, with >400 financial advisers
• Successful completed the advisory integration of: Libertas, Yellow Brick Road, Philip Capital advisers, Total Cover Australia
• Morrison Securities monthly value of trading transactions increased by 300%
Overview
Sequoia Financial Group Limited (ASX: SEQ) (Sequoia or the Company) is pleased to release its FY21 full-year results. In FY21, the four Operating Divisions financial performance surpassed their forecasts and internal target return on equity of 15%.
The Group’s revenue increased by 37% from FY20 and ahead of Budget. Operating Profit/ EBITDA of $11.5M was well above the $9M from our last profit guidance. From a consolidated viewpoint this resulted in a 28% operating return on Shareholder Equity, giving us the confidence that our diversified services offering is both profitable and in growing demand.
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