AF Legal Group Limited · ASX:AFL
AF Legal — Shareholder Meeting (November 2024)
13 slides from AF Legal's shareholder meeting presentation, Nov 28, 2024
Slide 1: 2024 Annual General Meeting
For personal use only 2024 Annual General Meeting Brisbane 28 November 2024 1
Slide 2: Q1 FY25 Highlights
Q1 FY25 Highlights Revenue growth of 13% on prior year, with Q1 FY25 average weekly revenue of $483k per week representing a new high For personal use only Our significant turnaround continues to gain momentum: Normalised NPBT attributable to the owners of AF Legal Group in Q1 FY25 of $362k, c
Slide 3: Revenue growth continues as does profitability
Revenue growth continues as does profitability Half Year Revenue excl. disbursements ($000) Average Weekly Revenue ($000) Normalised NPBT attributable ($000) For personal use only 500 1000 12,000 10,951 10,710 10,054 450 8,615 8,827 9,000 8,369 400 500 6,281 6,000 350 300 0 3,000 H2 FY22 H1 FY23 H2
Slide 4: Revenue continues to hit new highs
Revenue continues to hit new highs Half Year Revenue excl. disbursements ($000) Revenue of $6.3 million for Q1 FY25 represents our highest ever quarterly For personal use only 12,000 10,710 10,951 revenue with the period up by $0.74m or 13% on the prior corresponding 8,827 10,054 period of Q1 FY24
Slide 5: Q1 FY25 NPBT $362k, almost half of FY24 NPBT in first quarter
Q1 FY25 NPBT $362k, almost half of FY24 NPBT in first quarter Consolidated Statement of Profit or Loss Q1 FY25 Q1 FY24 FY24 and Other Comprehensive Income for the1st quarter ended 30 September 2024 $000 $000 $000 NPBT attributable to the owners of AF Legal Group for Q1 FY25 was a For personal use
Slide 6: Strong Q1 FY25 aided by initial Armstrong acquisition
Strong Q1 FY25 aided by initial Armstrong acquisition NPBT attributable to owners of AF Legal Group of $362k for For personal use only $'000 Q1 FY25 FY24 H2 FY24 H1 FY24 FY23 FY22 FY21 Q1 FY25 similarly represents a lift on FY24 profitability Revenue* 6,281 21,661 10,951 10,712 18,881 16,983 11,00
Slide 7: Our significant turnaround continues to gain momentum
Our significant turnaround continues to gain momentum NPBT attrib* ($000) Normalised NPBT attributable to owners of AFL Group over For personal use only 900 781 622 the past 21 months has totalled $1.8 million 600 This represents a significant lift over the preceding two and a 362 300 half years
Slide 8: Balance Sheet Q1 movements
Balance Sheet Q1 movements Q1 FY25 FY24 Movement $'000 $'000 $'000 ASSETS CURRENT ASSETS Net Total assets at $10.4 million increased by $0.4 million (30 June 2024: For personal use only Cash and cash equivalents 2,448 2,317 131 Trade and other receivables Other current assets 9,068 1,278 9,543 1,0
Slide 9: Strong Operating Cash Flow with favourable timing flows
Strong Operating Cash Flow with favourable timing flows Q1 FY25 FY24 Q1 FY24 $'000 $'000 $'000 Operating cash flow for Q1 FY25 was a very strong inflow of $1.54 For personal use only Cash Flows From Operating Activities million* (2024: inflow of $0.5 million) due in part to: Receipts from customer
Slide 10: Focus and Outlook FY25
For personal use only Focus and Outlook FY25 10
Slide 11: Focus and Outlook
Focus and Outlook For personal use only People-first culture New Client Activity Profitability Proven growth model GPTW lift to 84% in 2024 (2023: Sponsorship & Executive Producer Improving Profitability trend Expand into new regions and 53%) of Millie Vs – The Film created by continued in Q
Slide 12: 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 Growing existing Family Law (FL) practices through tea
Slide 13: Thank You
For personal use only Thank You 13