Af Legal Group Limited · ASX:AFL
Af Legal — FY2024 Earnings Presentation
14 slides from Af Legal's earnings presentation, Aug 30, 2024
Slide 1: FY24 Results Investor Presentation
FY24 Results Investor Presentation 30 August 2024
Slide 2: Profitable, stable and beginning to grow
Profitable, stable and beginning to grow
Slide 3: FY24 Highlights
FY24 Highlights ▪ Revenue growth of 15% on prior year, with Q4 average weekly revenue of $465k per week, a new high ▪ Normalised NPBT attributable to owners of AF Legal Group of $0.8 million, an all-time high and a $0.6 million increase on prior corresponding period (pcp) ▪ AF Legal Group Limited ha
Slide 4: Financial Results FY24
Financial Results FY24 Kordos Contested Wills Lawyers S Estates AFL Armstrong wat
Slide 5: Headline NPAT profit of $1.6million
Headline NPAT profit of $1.6million 2024 2023 ▪ Headline NPAT for FY24 was a profit of $1.6 million, up from a loss of $7.6 million Note $'000 $'000 in the previous corresponding period (pcp) and the highest level ever achieved by Revenue 3 21,862 18,881 Expenses the AF Legal Group, albeit assisted
Slide 6: Strong Q4 FY24 aided by acquisition
Strong Q4 FY24 aided by acquisition $'000 FY24 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24 FY23 H2 FY23 H1 FY23 FY22 FY21 ▪ Normalised NPBT of $1.65 million, a $0.8 Revenue* 21,661 6,051 4,899 5,167 5,543 18,881 10,054 8,827 16,983 11,009 million increase on pcp Average Weekly Revenue [AWR] (excl. disbursements
Slide 7: We are in the early stages of a significant turnaround
We are in the early stages of a significant turnaround NPBT attrib* ($000) ▪ Normalised NPBT attributable to owners of AFL Group 900 over the past 18 months has totalled $1.4 million 781 622 ▪ This represents a significant lift over the preceding two 650 and a half years which produced a loss of ($0
Slide 8: Revenue growth & 3 consecutive profitable halves
Revenue growth & 3 consecutive profitable halves Half Year Revenue excl. disbursements ($000) Average Weekly Revenue ($000) Normalised NPBT attributable ($000) 12,500 500 1,000 10,951 10,710 450 10,054 10,000 500 8,827 400 8,615 8,369 350 7,500 - 300 H2 FY22 H1 FY23 H2 FY23 H1 FY24 H2 FY24 5,000 250
Slide 9: Balance Sheet post ACWE acquisition
Balance Sheet post ACWE acquisition 2024 2023 Note $'000 $'000 ▪ Net Total assets at $10.0 million increased by $2.9 million (30 June 2023: $7.0 ASSETS million), reflecting FY24 profitability and the impact of the capital raise related to CURRENT ASSETS Cash and cash equivalents 10 2,317 2,052 the A
Slide 10: Cash Flow shows impact of acquisition and funding
Cash Flow shows impact of acquisition and funding 2024 2023 ▪ Operating cash flow for the full year was an inflow of $0.5 million* (2023: inflow Note $'000 $'000 of $1.1 million) due in part to a number of one-off type outflows: Cash Flows from Operating Activities Receipts from customers 20,050 23,
Slide 11: Focus and Outlook FY24
Focus and Outlook FY24 AFL A Armstrong watt: Lawyers
Slide 12: Focus and Outlook
Focus and Outlook People-first culture New Client Activity Profitability Proven growth model ▪ Focus on onboarding, professional ▪ Sponsorship & Executive Producer ▪ Returned to consistent profit levels ▪ Expand into new regions and development, continual education, of Millie Vs – The Film created b
Slide 13: Our Growth Strategy
Our Growth Strategy Better leverage our cost base by adding revenue and accordingly gross margin (after fee earner costs) with minimal incremental overhead costs such that our bottom-line profitability grows at a disproportionately higher rate Family Law - ▪ Growing existing Family Law (FL) practice
Slide 14: Thank You
Thank You Watts McCray