Income Asset Management Group Reports Stable Q2 Revenue Amid Debt Reduction and Growth

Income Asset Management Group Limited ( (AU:IAM) ) just unveiled an announcement.

Income Asset Management Group Limited has reported stable revenue of $4.0 million for Q2 FY2025, despite the typically slower December period. The company’s bond and loan funds under administration (FuA) saw a 31% year-on-year increase to $2.2 billion, while client accounts grew by 38% to 2,405. IAM successfully raised $18 million, retiring a $10 million debt facility, which will save $1.2 million in annual interest costs. The group ended the quarter with $6.5 million in cash holdings, potentially increasing to $7.9 million if bond positions are converted. Although IAM posted a $581k EBITDA loss, it anticipates achieving profitability once cost reductions and the Perpetual transition are completed. With a stronger balance sheet, IAM is positioned to capitalize on revenue opportunities, particularly as custodial holdings are expected to generate recurring revenue from Q4 FY2025. The company also noted significant client onboarding through Netwealth, contributing to its growth in funds under administration.

More about Income Asset Management Group Limited

Income Asset Management Group Limited (IAM) operates in the financial industry, focusing on asset management, particularly in bonds and loans. The company offers services that include trading and investment facilitation, aiming to provide robust financial solutions and capital management for its clientele.

YTD Price Performance: -15.00%

Technical Sentiment Consensus Rating: Sell

Current Market Cap: €17.92M

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