Helia Group Limited (ASX: $HLI) FY23 Financial Results

Helia Group Limited (ASX: $HLI) reported a statutory net profit after tax (NPAT) of $275.1 million and Underlying NPAT of $247.7 million for the year ended 31 December 2023. The Company declared a fully franked final ordinary dividend of 15.0 cents per share and an unfranked special dividend of 30.0 cents per share, both payable on 22 March 2024 to shareholders registered as at 8 March 2024.

Executive Commentary on FY23 Results and Outlook

I am pleased to deliver another strong full year result that reflects Helia's operational performance and financial resilience. Underlying NPAT is higher than the strong prior corresponding period (pcp), reflecting the combination of a low claims environment and higher net investment revenue. We are also pleased to continue our delivery of active and appropriate capital management for our shareholders. New business volumes remain soft, driven by the continuation of low levels of high loan to value ratio (LVR) mortgage lending. This has been exacerbated by the impact of the Federal Government's Home Guarantee scheme. Helia remains focused on our core purpose of accelerating financial wellbeing through home ownership, now and for the future and we are working tirelessly on our vision to be the leading partner of choice for flexible home ownership solutions.

Summary of FY23 Results and Outlook

Helia Group Limited (ASX: $HLI) reported a strong FY23 with a statutory net profit after tax (NPAT) of $275.1 million and Underlying NPAT of $247.7 million. The Company declared a fully franked final ordinary dividend of 15.0 cents per share and an unfranked special dividend of 30.0 cents per share. The operating environment saw resilience in the Australian labor market and a record high in national dwelling values. Helia achieved a further improvement in its Net Promoter Score (NPS) to +79 and made progress on new product delivery. The Company also made capital management decisions in recognition of the strong FY23 profitability and capital position. Looking ahead, Helia expects FY24 Insurance revenue to be within a range of $360 million to $440 million and the annual ordinary dividend for FY24 is expected to be at a level similar to FY23, reflecting the Board's preference for stable ordinary dividends.