The Agency Group (ASX:AU1) is one of Australia’s fastest-growing integrated real estate service companies, with approximately 280 real estate agents. The company recently released their Preliminary Final Report for the full year ended 30 June 2020.
Highlights include:
• FY20 EBITDA2 of $2.66 million
• Pre-adoption of AASB 16 leasing standard, FY20 EBITDA of $711,714 – a $4.9 million turnaround from FY19 EBITDA loss of $4.25 million
• FY20 positive cashflow from operations of $334,704, compared to FY19 negative cashflow of $6.4 million
• Annual Group Revenue up 48% y-o-y to $41.86 million
• Cash receipts of $42.53 million, up 42% y-o-y from $30 million
• Continued growth across all key operating metrics (Gross Commission Income, Properties under Management, properties sold, listings, recruitment, home loan approvals)
• Strong sales pipeline – results flowing through to 1Q FY21
• Cash at end of financial year of $2.72 million (FY19: $2.6 million)
• COVID-19 highlights effectiveness of established remote ready cloud-based platform and model to the industry, which will drive recruiting efforts over following quarters
• Estimated market asset value of rent roll and loan book in excess of $27.0 million
• Actively pursuing strategic partnerships/JV opportunities to drive agent recruitment and sales revenue in the coming reporting periods
