New Zealand · Delayed Price · Currency is NZD Heartland Group Holdings Earnings Call Transcripts
Fiscal Year 2026
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Strong H1 FY26 results with NPAT up sharply, improved ROE, and robust asset quality. Reverse mortgages and rural lending drove growth, while technology investments and NSA realization strengthened the balance sheet. Guidance for FY26 is reaffirmed.
Fiscal Year 2025
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The AGM reviewed a year of strategic reset, with improved asset quality, strong reverse mortgage growth, and a focus on technology and efficiency. Shareholders discussed dividends, executive pay, and governance, while the board outlined plans for continued core lending growth and digital transformation.
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FY 2025 was a year of reset, with underlying net profit of $46.9M and strong growth in reverse mortgages and livestock finance, but higher impairments and costs. FY 2026 targets improved ROE and profit, with a focus on core lending, digitalization, and capital efficiency.
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First-half FY25 saw underlying profit of NZD 10.7 million, with strong reverse mortgage growth and robust capital positions, but significant impairments and higher costs in NZ. Outlook remains positive for margin expansion and deposit funding, with FY25 underlying NPAT expected at least NZD 45 million.
Fiscal Year 2024
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Underlying NPAT reached NZD 102.7 million, 4.9% below guidance, due to elevated provisions, while receivables grew 6.4% and reverse mortgages exceeded 20% growth. Strategic milestones included an Australian bank acquisition and a successful capital raise, with NIM and CTI improvements targeted for FY25 and beyond.