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AMP (AMP) investor relations material

AMP H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2025 earnings summary12 Feb, 2026

Executive summary

  • Underlying NPAT increased 21% to AUD 285 million and EPS rose 25% year-over-year, reflecting strong operational execution and cost discipline.

  • Statutory NPAT declined 11.3% to AUD 133 million, mainly due to legal settlements and business simplification costs.

  • The business resolved most legacy issues, restored its reputation, recommenced dividends, and is positioned for growth in retirement and wealth segments.

  • Strategic focus is on organic growth, advisor expansion, innovation in retirement solutions, and leveraging AI across the organization.

  • Total AUM increased 9% to AUD 161.7 billion, supported by positive cashflows and market movements.

Financial highlights

  • Revenue grew 2.8% year-over-year to AUD 1,287 million, while controllable costs fell nearly 7% to AUD 603 million, driving EBIT up over 21%.

  • Cost-to-income ratio improved by more than 6% to 61.5% at the group level; return on equity increased to 8%.

  • Total AUM rose 9% to AUD 161.7 billion, with platforms' net cash flows up 85% to AUD 5.1 billion.

  • Final dividend of AUD 0.02 per share (20% franked), totaling AUD 0.04 for FY 2025.

  • Net tangible assets per share increased to AUD 1.33.

Outlook and guidance

  • Platform margins expected at 40-41 bps and super investments at 60-61 bps for FY 2026.

  • AMP Bank Go targeting AUD 1 billion in deposits and NIM of 125-130 bps in FY 2026.

  • Controllable costs guided at AUD 630-640 million, reflecting inflation and scaling of AMP Bank Go.

  • Dividend approach to remain consistent through FY 2026 and FY 2027, with buybacks preferred for additional capital return.

  • Business simplification program to complete in FY 2026 with AUD 20 million investment.

Platforms AUM margin compression drivers?
S&I path to sustainable positive cashflows?
Why negative FY26 Partnerships return guidance?
Bank ROC improvement strategy
Platform margin stabilization initiatives
China partnerships growth drivers
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Frequently asked questions

AMP Limited is wealth management company in Australia and New Zealand, offering a comprehensive range of financial services. These services include financial advice, retirement income, and managed investment products, as well as superannuation, retirement, and investment solutions. The company caters to both retail and corporate clients, providing wealth management solutions, financial advice, equity investments services, and a portfolio of banking and investment products. Additionally, AMP Limited offers corporate superannuation products and services for workplace super and self-managed superannuation funds, residential mortgages, deposits, and transaction banking. The company is headquartered in Sydney, Australia, and its shares are listed on the Australian Securities Exchange.

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