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Highlights
- Bravura Solutions shares jump 20% to a 52-week high of $2.78 after half-year results.
- EBITDA surges 200% to $23.8 million, with underlying NPAT of $11.3 million.
- FY25 guidance upgraded, with revenue and earnings now expected to be higher than previously forecast.
Wealth management software provider Bravura Solutions Ltd (ASX:BVS) delivered a robust half-year result, pushing its stock 20% higher on Wednesday morning.
For the six months ending 31 December 2024, Bravura posted a 0.4% revenue increase to $127.5 million, supported by performance in Europe, Middle East, and Africa (EMEA), where revenue rose 1.1% to $90.4 million. Meanwhile, Asia-Pacific (APAC) revenue fell slightly by 1.3% to $37.1 million.
The company’s EBITDA skyrocketed 200% to $23.8 million, while underlying net profit after tax (NPAT) came in at $11.3 million, a sharp turnaround from a $1.7 million loss in the prior period.
Dividend Resumption Boosts Sentiment
In light of the performance, Bravura reinstated its dividend payments, declaring:
- Unfranked interim dividend of 1.6 cents per share.
- Special dividend of 8.92 cents per share, stemming from a licence sale to Fidelity.
The dividends will be paid on 16 April 2025, with a record date of 31 March 2025.
Upgraded FY25 Guidance Fuels Optimism
Bravura also upgraded its full-year FY25 guidance, now forecasting:
- Revenue between $248 million and $252 million (previously $241 million to $245 million).
- EBITDA of $46 million to $49 million (previously $41 million to $44 million).
- Cash EBITDA of $38 million to $41 million (previously $33 million to $36 million).
This revised outlook reflects continued operational improvements, cost efficiencies, and segment growth, reinforcing investor confidence.
