HMC Capital Full Year FY24 Results
HMC Capital (ASX: HMC) today released its results for the full year ended 30 June 2024. HMC delivered a record financial result in FY24. This was underpinned by new revenue streams and significant growth in recurring earnings.
Financial highlights:
- Operating EPS of 37 cents, up 40% on FY23
- Net cash balance sheet with $1.4bn of available liquidity including liquid assets
- Assets under management (AUM) of $12.7bn, up 30% on FY23
New Growth Platforms:
- Established $1.6bn AUM Private Credit platform with the acquisition of Payton Capital
- Energy Transition platform established and on track to launch new $2bn+ platform in FY25
- Established Digital Infrastructure platform with the acquisition of North American business StratCap
HMC Managing Director and CEO, David Di Pilla said “HMC delivered a strong financial result in FY24 with operating EPS up 40%. This is consistent with the annualised growth in earnings achieved since the company listed almost five years ago. The past 12 months has seen HMC establish three major new platforms. HMC is now a truly diversified alternative asset manager with scalable platforms in real estate, private equity, private credit, energy transition and digital infrastructure. We believe that each one of these platforms has the potential to grow beyond $10bn of AUM each over the next five years”.
Outlook:
HMC Capital provides DPS guidance of 12.0 cents and is well placed to maintain a strong pre-tax operating EPS growth trajectory supported by five highly scalable and growing platforms.
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