Propel Funeral Partners Ltd
ASX:PFP
Propel Funeral Partners Ltd
Propel Funeral Partners Ltd. engages in the provision of death care related services. The company is headquartered in Sydney, New South Wales. The company went IPO on 2017-11-23. The firm owns funeral homes, cemeteries, crematoria and related assets in Queensland, New South Wales, Victoria, Tasmania, South Australia, Western Australia, and New Zealand. The firm provides services to individuals and families dealing with, or preparing for, death and bereavement. This includes the collection and transfer of the deceased, mortuary services, arranging and conducting a funeral, cremation, burial, and memorialization .The Company operates in approximately 136 locations, including 32 cremation facilities and 9 cemeteries. The operates through two geographic segments: Australian operations and New Zealand operations.
Propel Funeral Partners Ltd. engages in the provision of death care related services. The company is headquartered in Sydney, New South Wales. The company went IPO on 2017-11-23. The firm owns funeral homes, cemeteries, crematoria and related assets in Queensland, New South Wales, Victoria, Tasmania, South Australia, Western Australia, and New Zealand. The firm provides services to individuals and families dealing with, or preparing for, death and bereavement. This includes the collection and transfer of the deceased, mortuary services, arranging and conducting a funeral, cremation, burial, and memorialization .The Company operates in approximately 136 locations, including 32 cremation facilities and 9 cemeteries. The operates through two geographic segments: Australian operations and New Zealand operations.
Revenue Growth: Propel reported 1H FY25 revenue of $115.2 million, up 12% year-on-year, driven by increased funeral volumes and pricing.
Profitability: Operating EBITDA grew 9.2% to $29.9 million, and operating NPAT rose 21.1% to $12.2 million.
Cash Flow: Cash conversion remained strong at 96.1%.
Dividend: An interim dividend of $0.074 per share was declared, fully franked and up from $0.072 in the prior half.
M&A Activity: 9 new locations added year-to-date with $6.1 million deployed on acquisitions in the first half; acquisition pipeline remains solid.
Outlook: Company expects to benefit from favorable demographic trends and maintains a positive start to 2H FY25, with January revenue up over 10% year-on-year.
Leadership Transition: Managing Director Albin Kurti announced his retirement effective end of August, with succession planning underway.
