Allfunds Group PLC

Latest Results (27.11.2025):

Allfunds Group PLC — Q4 2024 / year ended 31 December 2024 (FY2024): the Group reported net revenue of €632.1m for the year but recorded a loss after tax of €168.5m, driven primarily by a large impairment charge and increased amortisation/finance costs. The consolidated balance sheet shows strong cash balances (€2.63bn) but lower equity (€2.05bn) versus year‑end 2023. Ernst & Young issued an unqualified audit opinion and highlighted revenue recognition and impairment of goodwill/intangibles as key audit matters; directors and auditors concluded there are no material going‑concern uncertainties.

Top‑line and Net Revenue

Net revenue: €632.079m in FY2024, up from the restated €545.504m in FY2023. Net fee, service & commission revenue rose to €530.059m (2023 restated €469.129m). Interest income increased to €102.941m (2023: €76.728m), supporting overall revenue growth.

Profitability and EPS

Loss before tax: €70.8m (compared with a €152.6m profit in 2023). Loss after tax: €168.514m vs a profit of €85.706m in 2023. Basic/diluted EPS: -€0.2764 (2023: €0.1385).

Impairment, Amortisation and Finance Costs

Major drivers of the FY2024 loss: impairment losses of €264.051m (2023: €3.209m) and amortisation of acquisition‑related intangibles €137.127m (2023: €108.498m). Finance costs increased to €27.530m (2023: €15.557m).

Balance Sheet and Cash

Total assets: €5.072bn (31 Dec 2024). Cash and cash equivalents: €2.628bn (up from €2.101bn at 31 Dec 2023). Goodwill and intangible assets reduced to €1.040bn and €956.424m respectively (reflecting impairments/ amortisation). Total equity declined to €2.045bn (31 Dec 2023: €2.351bn).

Capital return and share actions

Dividends: €57.898m paid in FY2024. Share buyback / treasury purchases: €50.0m acquired during the year. Ordinary shares were delivered to employee scheme beneficiaries (392,497 shares in the year).

Accounting restatement and presentation

Comparatives for 2023 were restated following a review under IFRS 15: Allfunds concluded it generally acts as an agent (not principal) for distribution commissions, so related revenues and expenses were reclassified net. The restatement did not change net profit, net assets or cash flows.

Audit, key audit matters and disclosures

Ernst & Young issued an unqualified opinion on the FY2024 financial statements. EY identified revenue recognition (fee/commission calculations and disputed transactions) and impairment of goodwill/intangible assets (VIU modelling, WACC, growth assumptions) as key audit matters and reported no material misstatements. The annual report also complies with ESEF requirements.

Going concern and other notes

Directors and auditors concluded there are no material uncertainties about the Group’s ability to continue as a going concern for at least 12 months from the report authorisation date. Climate‑related disclosures are included in the Annual Report (as non‑audited “other information”); auditors found no material inconsistency with the financial statements.