Overview of OFX Group Limited's FY24 performance and outlook

OFX Group Limited (ASX: $OFX) reported a solid financial performance for FY24, with a net operating income (NOI) of $227.5M, underlying EBITDA of $64.6M, and a pivot to B2B operations. The company highlighted its ability to generate returns regardless of economic conditions and its focus on delivering value for clients and shareholders.

Executive commentary on FY24 performance and outlook

FY24 was a solid year financially for OFX Group Limited, with a pivot to B2B operations and real traction in attracting new B2B clients. The company demonstrated disciplined cost control and realized synergies through the Firma integration, resulting in strong operating leverage. The cash generation and balance sheet quality continue to provide growth options. The integration of Paytron has been outstanding, enhancing the company's capabilities and client offerings.

Summary of FY24 performance and outlook for FY25

OFX Group Limited's FY24 performance showcased its pivot to B2B operations, disciplined cost control, and the successful integration of Paytron. The launch of a new client platform in Australia and the outlook for FY25 remain positive, with the company re-iterating its medium-term outlook based on client adoption and improving competitive position. The company aims to continue delivering value for clients and shareholders, leveraging its strengths in risk management, cash generation, and global footprint.