Overview of Helia's 2023 full year financial results

Helia Group Limited (ASX: $HLI) has reported its 2023 full year financial results, with a strong underlying net profit after tax (NPAT) of $248 million and a robust insurance service result of $358 million. The company's strategic progress includes an increase in Net Promoter Score (NPS) by 2 points to +79, winning Great Southern Bank, and enhancing lender API connectivity. Helia also achieved a capital coverage ratio of 1.86x and declared dividends of 59 cents per share for FY23.

Executive commentary on FY23 financial performance

Pauline Blight-Johnston, Chief Executive Officer and Managing Director of Helia, highlighted the company's strong financial results, with underlying NPAT of $248 million and a significant insurance service result of $358 million. She emphasized the strategic progress made, including the increase in NPS and the successful acquisition of Great Southern Bank. Blight-Johnston also noted the company's focus on capital management, with a coverage ratio of 1.86x and the declaration of dividends for FY23.

Summary of 2023 full year financial results and outlook

Helia's 2023 full year financial results demonstrate a robust performance, with a focus on strategic progress, capital management, and sustainability commitments. The company reported a strong underlying NPAT of $248 million and an insurance service result of $358 million. Looking ahead to FY24, Helia expects its insurance revenue to be within the range of $360 million to $440 million, with an anticipated increase in total incurred claims ratio towards ~30%. The company also aims to maintain a stable ordinary dividend level similar to FY23, reflecting the Board's preference for consistent dividends. Helia's commitment to accelerating financial wellbeing through homeownership and its history of strong Total Shareholder Return (TSR) delivery position the company for continued success in the future.