Integrafin Holdings Plc · LSE:IHP
Integrafin — FY2025 Earnings Presentation
28 slides from Integrafin's earnings presentation, Dec 17, 2025
Slide 1: Driving sustainable earnings growth
Full year ended 30 September 2025 Driving sustainable earnings growth
Slide 2: Agenda
Agenda 1 Group FY25 highlights 2 Financial results 3 Business update Alex Scott Euan Marshall Chief Executive Officer Chief Financial Officer 4 Key takeaways 5 Q&A 2
Slide 3: FY25 highlights – delivering on strategic priorities
FY25 highlights – delivering on strategic priorities Strong net inflows 1 Net inflows of £4.4bn in FY25, up 76% YoY and representing 6.9% of opening FUD Record Group revenue 2 FY25 Group revenue up 8% to £156.8m Record underlying earnings 3 Underlying PBT grew 7% to £75.4m (FY24: £70.6m), Underlying
Slide 4: IHP's differentiated proposition drives earnings growth
IHP’s differentiated proposition drives earnings growth Investing in the Delivering strong returns for Strong cash generation Driving growth business and shareholders and balance sheet growing earnings Dividend payout of 60-65% of Organically increased Transact’s Invested in our proprietary Recurrin
Slide 5: Key Group workstreams
Key Group workstreams 1 2 3 IHP cost and efficiency Transact digitalisation Transact integrations programme • Delivering operational • Increased Transact platform • Enhance operating model and efficiencies APIs for external CRMs and automate processes software • Advanced functionality and streamline
Slide 6: Delivering strong financial momentum
Delivering strong financial momentum Euan Marshall Chief Financial Officer
Slide 7: Strong financial momentum
Strong financial momentum Average daily Funds Under Direction (£bn) Group revenue (£m) 6% CAGR FY21-25 10% CAGR FY21-25 +14% YoY +8% YoY 67.9 156.8 59.6 52.5 53.6 144.9 47.2 134.9 133.6 123.7 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Group underlying profit before tax (£m), and margin (%) Un
Slide 8: Strong platform revenue growth
Strong platform revenue growth Transact revenue (£m) +8% 151.8 Key takeaways 1.2 £m 12.5 • Transact platform revenue represents 97% of 140.0 1.1 Group revenue 12.8 • Increased annual charge income driven by higher average daily FUD in FY25 • Wrapper fee income decreased due to the reduction in FY25
Slide 9: Scalable platform delivering revenue growth
Scalable platform delivering revenue growth Platform revenue (£m), and platform revenue margin (bps) bps 160 30 140 25.7 Key takeaways £m 24.7 24.3 23.5 25 22.4 120 • Transact platform revenue has grown consistently during FY21-25 (CAGR: 6%) 20 100 • Revenue margin declines modestly as client portfo
Slide 10: FY25 cost analysis
FY25 cost analysis FY25 Total underlying administrative expenses (£m) 91.0 +1.2 +6.5 26.0 83.3 Key takeaways 24.8 • FY25 underlying administrative expense £m growth in line with prior guidance • Personnel costs increased in FY25 due to a 2% average headcount increase; investment in 65.0 broadening t
Slide 11: Targeted prior investment supporting platform scalability
Targeted prior investment supporting platform scalability Group underlying administrative expenses (£m) Key takeaways FY22 – FY25 CAGR: 11% 91.0 £m • Elevated investment in FY22-25 has enhanced the 83.3 Group’s technology capabilities and IT infrastructure, including: 74.2 66.2 • Transact digitalisa
Slide 12: Group-wide cost review initiatives
Group-wide cost review initiatives Group-wide cost review - the following initiatives are now under way: IHP support function productivity • Restructuring of support functions and adoption of third-party technology • Enhanced productivity through process refinement and automation FY27 targets: c.£94
Slide 13: Delivery of cost savings and technology investment
Delivery of cost savings and technology investment FY26 and FY27 total underlying administrative expenses to grow at c.3% pa +3% c.£97m +3% +2% -2% c.£97m Key takeaways +2% -2% c.£94m • We will deliver both Group-wide cost savings and technology investment to £91m extend Transact’s market leadership
Slide 14: Driving growth
Driving growth • Transact is very well positioned to continue to attract strong net inflows in a growing UK adviser Strong net flows fundamentals platform market, underpinned by a market-leading proposition Platform revenue growth • Delivering platform revenue growth, whilst managing revenue margin
Slide 15: Highly cash generative business model
Highly cash generative business model As at Group liquidity position (£m) 30.9.25 Total Group consolidated cash 263.8 Less: Group cash held for regulatory and operational purposes (133.7) Key takeaways Less: foreseeable dividend (26.5) • Cash generated during FY25 of £54.3m (FY24: Less: coverage of
Slide 16: IHP capital allocation framework
IHP capital allocation framework 1 2 3 4 5 Maintaining balance Invest to drive Deliver a reliable dividend Consideration of Return excess capital sheet strength organic growth stream inorganic opportunities Strong regulatory capital and Technology investment to Strong growth in FY25 No acquisitions
Slide 17: Financial guidance for FY26 and FY27
Financial guidance for FY26 and FY27 • We are focused on growing revenue and managing the platform revenue margin. We expect the Platform revenue reduction in platform revenue margin to slow with the decrease primarily driven by the tiered charging structure, as well as prior year pricing changes. •
Slide 18: Ongoing strategic progress
Ongoing strategic progress Alex Scott Chief Executive Officer
Slide 19: Extending Transact's market leadership
Extending Transact’s market leadership Transact platform digitalisation Transact APIs • Pension income online • Account opening API • DIM appointment and rebalancing online • Transaction API • Bond wrapper opening online • Remuneration reconciliation API Advice firm efficiencies IHP efficiencies Rem
Slide 20: Transact net inflows growth
Transact net inflows growth Net inflows to the Transact platform (£bn) – up 76% to £4.4bn in FY25 1.4 8% Strong and improving net transfer ratio 7% 1.2 • Transact’s net transfer ratio increased to 2.8 in 1.2 1.2 FY25 (FY24: 1.7) 6% 1 1.0 • Gaining more assets from key competitors 5% 0.9 0.9 0.8 0.8
Slide 21: Taking share in a growing adviser platform market
Taking share in a growing adviser platform market Transact’s share of net and gross flows to the UK adviser platform market Key takeaways 25.8% • Transact’s share of net flows is consistently 23.3% above 20%, and Transact is well positioned 21.9% to continue to attract a strong share of adviser plat
Slide 22: Transact's award-winning proposition drives growth in clients and FUD
Transact’s award-winning proposition drives growth in clients and FUD Delivering a market-leading Driving long term growth in clients Accelerating platform gross inflows proposition Gross inflows (£bn) 10.1 Thousands £80 300 Billions 7.7 8.1 7.3 £70 6.4 250 £60 200 £50 FY21 FY22 FY23 FY24 FY25 £40 1
Slide 23: Alex Scott, Chief Executive Officer
Alex Scott Chief Executive Officer
Slide 24: Driving sustainable earnings growth
Driving sustainable earnings growth Transact delivered record gross (FY25: £10.1bn) and strong net inflows (FY25: £4.4bn), in a growing UK adviser platform market Award winning platform with top-rated service, delivering digitalisation and API benefits for a growing client base (+5% in FY25) Group-w
Slide 25: Alex Scott and Euan Marshall
Alex Scott Euan Marshall Chief Executive Officer Chief Financial Officer 25
Slide 26: Appendix 1 - IHP Group FY25 Reporting
Appendix 1- IHP Group FY25 Reporting £m FY25 FY24 Revenue 156.8 144.9 Cost of sales (3.4) (3.0) Gross profit 153.4 141.9 Underlying administrative expenses (91.0) (83.3) Credit loss allowance on financial assets - 0.1 Non-underlying administrative expenses (9.2) (1.7) Operating profit 53.2 57.0 Unde
Slide 27: Appendix 2 - Transact's proprietary technology is a differentiator and driver of value
Appendix 2- Transact’s proprietary technology is a differentiator and driver of value Platform FUD as at 30.09.25 Technology Provider 1 Nucleus £107.0bn FNZ 2 Quilter £99.0bn FNZ 3 aberdeen £75.8bn FNZ 4 Transact £74.2bn Proprietary 5 AJ Bell Investcentre £62.4bn GBST + FNZ Key takeaways 6 Aviva £61
Slide 28: IntegraFin Holdings plc contact details
IntegraFin Holdings plc, 4th Floor, 2 Gresham Street, London EC2V 7AD | Tel: (020) 7608 4900 | Web: www.integrafin.co.uk | (Registered office: as above; Registered in England and Wales under number: 08860879).