Steadfast Upgrades Its FY19 Guidance, NPAT Estimated To Range Between $85 Million And $90 Million

  • Oct 18, 2018 AEDT
  • Team Kalkine
Steadfast Upgrades Its FY19 Guidance, NPAT Estimated To Range Between $85 Million And $90 Million

In the 2018 Annual General Meeting of the Steadfast Group Limited (ASX: SDF) held today, Managing Director and Chief Executive Officer Robert Kelly has announced the upgradation in FY19 guidance under which the company expects underlying EBITA to range between $190 million  and $200 million. The underlying Net Profit After Tax (NPAT) consensus for FY19 has been upgraded to range between $85 million and $90 million. The improvement in FY19 outlook is underpinned by the growing use of Steadfast Client Trading Platform (SCTP), rise in insurance premium prices, and acquisition growth across Steadfast group.

In the five-year target for Steadfast Client Trading Platform (SCTP), the company expects to transact ~$2.3 billion of Gross Written Premium (GWP) through SCTP by FY23. Further, based on growing use of SCTP the company expects an additional ~$23 million EBITA contribution per annum to the group in the next five year.  

In the voting round in AGM, over 99% of company’s shareholders voted in favor of re-election of Mr. David Liddy, Am and Ms Anne Odriscoll as Directors to SDF’s Board. The resolution passed for the election of Ms Gai McGrath has also won the majority votes of shareholders.

In FY18, company’s underlying revenue grew 16% to $583 million supported by mid-single digit price rise in insurance premiums. As a result, FY18 EBITA increased to $166 million, up 16% on prior year. Its statutory NPAT in FY18 was $76 million, 14% higher than previous FY17.

The company has monetized its insurTech with over $230 million of GWP transacted through SCTP in Fiscal 2018. However, the total GWP of the group has tremendously by 18% to $914 million delivering strong organic growth during past fiscal year 2018.

During Fiscal 2018 Steadfast’s Board has declared a full franked dividend of 7.5 cents per share for the full Fiscal year 2018. It represents 7% hike from last year’s dividend.

The acquisition growth of 6% has been reported for FY18, completing $90 million of acquisition with Whitbread Insurance Group which includes Axis Underwriting Services as the largest acquisition made  by the company in FY18.

Since Steadfast’s listing on Australian Securities Exchange in the August 2013, the market capitalization of the company has increased from $550 million to $2.17 billion as on 18 October 2018. In these five years company’s underlying EBITA has grown from $57 million to $166 million and underlying NPAT from $28 million to $75 million.

Steadfast has a network of 377 Australasia brokers including 16 new brokers from across Australia, New Zealand and Asia who have joined the network in fiscal year 2018.

With the conclusion of 2018 Annual General Meeting today, Steadfast Group’s stock jumped 7.664% to close at $2.950 on 18 October 2018. But, the stock has seen a negative performance change of 5.19% over the past one year. SDF today traded at a PE of 27.760 x with market capitalization of $2.17 billion.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.


All pictures are copyright to their respective owner(s) does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK