Propel Funeral Partners Ltd. · ASX:PFP
Propel Funeral Partners — Bell Potter Emerging Leaders Conference 2025
19 slides from Propel Funeral Partners's conference presentation, May 27, 2025
Slide 1: Presentation to Bell Potter Conference - FY25 Guidance and Succession Update
ASX ANNOUNCEMENT 27 May 2025 Presentation to Bell Potter Conference - FY25 Guidance and Succession Update Propel Funeral Partners Limited (ASX: PFP) (Propel or Company) Managing Director and Co-Founder, Albin Kurti, is giving the attached presentation at the 2025 Bell Potter Emerging Leaders Confere
Slide 2: Bell Potter Emerging Leaders Conference
Bell Potter Emerging Leaders Conference 27 May 2025 1
Slide 3: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation contains summary information about Propel Funeral Partners Limited No representation or warranty, express or implied, is made as to the fairness, accuracy, (ACN 616 909 310) (Propel) and its activities current as at the date of this presentation. Pro
Slide 4: Australian Deaths: 1923 to 2024 (Natural Fluctuations)
Australian Deaths: 1923 to 2024 (Natural Fluctuations) 200,000 160,000 120,000 80,000 40,000 0 1923 1933 1943 1953 1963 1973 1983 1993 2003 2013 2024 10.0% 5.0% 0.0% -5.0% -10.0% Source: 1923-2023: ABS, Deaths, Australia 2023, Table 2 Deaths registered – 1915 to 2023 (released in October 2024). 2024
Slide 5: Australians aged 80+ years
Australians aged 80+ years Unavoidable demographic tailwind 2.75m Median age at death has been stable at 81-82 years old Median Age at Death (years) 80 1.20m 60 0.68m 40 0.29m 20 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1984 2004 2024 2044F Source: ABS, Population clock and pyramid,
Slide 6: Australian Deaths: 1990 to 2040
Australian Deaths: 1990 to 2040 Step-change in future death volumes expected ‘Death boom’ expected 2.9% CAGR 1 Australia (2031-2040) 300,000 2.6% CAGR (2025-2030) 250,000 1.1 % CAGR (1990-2024) 200,000 150,000 100,000 50,000 - 1990 1995 2000 2005 2010 2015 2020 2025 2030 2035 2040 Actual deaths Proj
Slide 7: Company Overview
Company Overview PROPEL FUNERAL PARTNERS PrP
Slide 8: Geographic Presence
Geographic Presence 205 operating locations (123 owned / 82 leased), including 41 cremation facilities and 9 cemeteries 1 August 2013 2 May 2025 Queensland Queensland 1 Western 30 Australia South Australia 15 46 New South Wales 11 1 ACT 19 Victoria 65 New Zealand Tasmania 18 Geographic footprint is
Slide 9: Brand Portfolio
Brand Portfolio Diversified single and multi-site brands with strong local community awareness Australia NZ Pinegrove Funerals ismore Funeral Services Southern Funeral Home Acquisitions completed since 1 July 2024. 8
Slide 10: Track Record
Track Record Propel has maintained a strong growth trajectory 209.2 Funeral volumes (#) 21,655 Revenue ($m) 18,029 168.5 16,537 145.2 13,299 13,916 120.4 115.2 12.0% 11,304 10,637 11,549 8.6% 110.8 102.9 10,111 95.1 80.9 6,054 46.1 2,967 22.4 1,625 10.9 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY2
Slide 11: Average Revenue Per Funeral Growth
Average Revenue Per Funeral Growth Compound annual growth rate (CAGR) of ~3.1% since FY15 $6,727 ~2.6% (comparable) $6,630 (total up 1.5%) CAGR ~3.1% $6,398 $6,038 $5,917 $5,672 $5,585 $5,508 $5,223 $5,099 $4,976 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 1H FY24 1H FY25 10
Slide 12: Cash Flow Conversion
Cash Flow Conversion Consistently strong 104.0% 103.4% 101.8% 100.8% 98.9% 96.5% 97.4% 100.2% 95.4% 96.1% ~99% average 93.7% (since FY15) FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 1H FY24 1H FY25 11
Slide 13: Market Share Estimate (Funeral Volumes)
Market Share Estimate (Funeral Volumes) Propel has increased its market share in the highly fragmented Australian funeral industry 1 CY151 2 CY242 InvoCare InvoCare ~21% ~25% Others ~74% Others ~70% ~1% ~9% 1. Note: 159,052 actual deaths (ABS data) for market size, 1,920 funerals performed by Propel
Slide 14: Acquisitions
Acquisitions Propel has deployed ~$13 million1 on 3 acquisitions in FY25 YTD (~$302 million1 since its IPO), with ~$140 million available funding capacity 1 FY25 YTD acquisitions completed: 1. Decra Jul-24 Christchurch, NZ Consideration: ~$13m Revenue: ~$7m 2. Twentymans Funeral Services Feb-25 Tham
Slide 15: FY25 Guidance and Succession Update
FY25 Guidance and Succession Update
Slide 16: FY25 Guidance
FY25 Guidance Propel provides the following FY25 guidance: Revenue ($m) 220-225 209.2 Low High 168.5 Revenue ($m) 220.0 225.0 145.2 Operating EBITDA ($m) 54.0 56.0 120.4 110.8 Comments and Key Assumptions: 95.1 80.9 Industry volumes: Natural fluctuations in industry death volumes experienced during
Slide 17: Succession Update
Succession Update Implementation of succession plan is well advanced - future leadership announcement expected by 30 June 2025 1 As previously announced: − Managing Director and Co-Founder, Albin Kurti, will retire on 31 August 2025 after 14 years − Propel has strong internal succession candidates 2
Slide 18: Q&A
Q&A PROPEL FUNERAL PARTNERS PrP
Slide 19: Propel Funeral Partners
PROPEL FUNERAL PARTNERS PrP
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