L1 Group FY26 slides: profit surges 97%, synergies exceed target

L1 Group Limited reported a remarkable FY26, with underlying net profit growing by an astounding 97% to $188.8 million, despite the merger with Platinum Asset Management. The company's total revenue surged to $385.9 million, marking a 49% increase compared to the previous year, driven by strong investment performance and synergies realization.

Total assets under management reached $19.1 billion, with a 1.03% average management fee. Operating expenses decreased to $98.5 million, while EBITDA grew to $287.4 million, reflecting impressive efficiency gains. The company's EBITDA margin expanded to 74.5% from 65%, indicating enduring sustainability. Strong performance was seen across flagship strategies, with the L1 Gold Strategy delivering an impressive 83.2% return, the L1 Long Short Strategy achieving a 45.4% return, and the L1 Catalyst Strategy posting a 38.3% return. The merger has expanded L1 Capital's management of total funds under management from 55% to 73%.