Elanor Investors Group
ASX:ENN
Elanor Investors Group
Elanor Investors Group engages in providing investment and funds management services. The company is headquartered in Sydney, New South Wales. The company went IPO on 2014-07-11. Its segments include Funds Management; Hotels, Tourism and Leisure; Retail; Commercial Office, and Healthcare. The Funds Management segment manages third party owned investment funds and syndicates. Its Hotels, Tourism and Leisure segment originates and manages investment and funds management assets. Its Retail segment originates and manages investment and funds management assets in the retail real estate sector. Its Commercial Office segment originates and manages investment and funds management assets in the commercial office real estate sector. Its Healthcare segment originates and manages investment and funds management assets in the healthcare office real estate sector. Its investment portfolio includes Elanor Commercial Property Fund, Hunters Plaza Syndicate, 1834 Hospitality, and others.
Elanor Investors Group engages in providing investment and funds management services. The company is headquartered in Sydney, New South Wales. The company went IPO on 2014-07-11. Its segments include Funds Management; Hotels, Tourism and Leisure; Retail; Commercial Office, and Healthcare. The Funds Management segment manages third party owned investment funds and syndicates. Its Hotels, Tourism and Leisure segment originates and manages investment and funds management assets. Its Retail segment originates and manages investment and funds management assets in the retail real estate sector. Its Commercial Office segment originates and manages investment and funds management assets in the commercial office real estate sector. Its Healthcare segment originates and manages investment and funds management assets in the healthcare office real estate sector. Its investment portfolio includes Elanor Commercial Property Fund, Hunters Plaza Syndicate, 1834 Hospitality, and others.
Recurring Income: Recurring funds management income rose 37% to $23.7 million, reflecting the successful Challenger acquisition.
EBITDA Margin: Recurring funds management EBITDA margin jumped from 3% to 23% year-on-year, demonstrating strong operating leverage.
AUM Growth: Assets under management doubled to $6.3 billion, with a medium-term target of $15 billion.
Core Earnings: Core earnings for the half were $8.3 million, above the $8 million guidance.
Challenger Integration: The Challenger real estate acquisition was fully integrated, adding over $8 million in recurring income and $2 million in costs.
Hotel Segment Weakness: Hotel and leisure fund performance lagged, with occupancy still below pre-COVID levels, but some improvement seen in recent bookings.
Cost Control: No major cost synergies expected in the second half; cost discipline remains a focus.
Dividend Policy: The payout ratio was kept steady at 90%, in line with historical practice.
