NEW YORK--(BUSINESS WIRE)--Lazard, Inc. (NYSE: LAZ), the preeminent global financial advisory and asset management firm, announced today that Retired Four-Star U.S. Army General and Former Commander of U.S. Central Command Michael "Erik†Kurilla has joined as Senior Advisor in Lazard's Geopolitical Advisory group, effective immediately. General Kurilla brings deep expertise in strategic command within complex environments, most notably in the Middle East and Central Asia. His appointment builds. ...

Financial Data and Key Metrics Changes - Revenue increased by 21% to $49.4 million, exceeding guidance of 15-20% [6][8] - Underlying EBITDA margin decreased slightly to 24% from 25% in the previous year, while underlying EBITDA rose by 17% [8][25] - Reported EBITDA surged by 39% to $10.6 million, and reported EPS increased by 37% to $1.87 per share [8][20] - Net profit after tax and amortization grew by 42% to $5.9 million, with net profit after tax up 59% [8][20] - Total dividends for the year increased by 4% to $1.66 per share, with a final dividend up 5% to $0.89 per share [9][29] Business Line Data and Key Metrics Changes - Wealth segment revenue grew by 38%, while business segment revenue increased by 7% [20][22] - Self-Managed Superannuation Fund (SMSF) revenue rose by 19%, recovering from a decline in the previous year [22] - Accounting division revenue increased by 11%, while capital revenue remained flat [22] Market Data and Key Metrics Changes - Funds under management increased by 58%, partly due to the Lincoln acquisition, adding $600 million [9][10] - The number of high net worth investors grew by 3,300, significantly expanding the client base [10][16] Company Strategy and Development Direction - The company aims to achieve $100 million in revenue by FY 2028 to FY 2030, with a focus on both organic and acquisition-driven growth [34][63] - Emphasis on technology integration, including a full technology review and implementation of a group-wide CRM system [14][60] - The strategy includes deep integration of acquired businesses to enhance service offerings and client engagement [64][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving growth targets, citing a strong pipeline of acquisition opportunities and a favorable operating environment [34][47] - The company is focused on addressing working capital issues, with a goal to reduce excess tied-up capital [28][72] - Management highlighted the importance of a balanced approach to capital allocation, ensuring continued dividend payments while pursuing growth [57][72] Other Important Information - The company has maintained a modest debt level at 1.3 times underlying EBITDA, indicating strong financial health [8][27] - A significant focus on intergenerational wealth transfer and alternative asset management as key growth areas [17][18] Q&A Session Summary Question: How confident is the company in achieving the $100 million revenue target? - Management expressed strong confidence based on past performance and current growth trajectory, with organic growth settling between 6-10% and two-thirds of growth expected from acquisitions [34][36] Question: Can you provide a breakdown of organic and inorganic growth? - Revenue growth was 21%, with approximately 7% from organic growth and 14% from acquisitions, including a two-month contribution from Lincoln indicators [37][39] Question: What were the key drivers behind the reported EBITDA increase? - The reduction in non-recurring items significantly contributed to the improvement, with non-recurring costs halving compared to the previous year [41][44] Question: How are the recent acquisitions performing? - Acquisitions are performing well, with strong integration and cross-referrals contributing to overall business growth [45][46] Question: What is the outlook for FY '26? - Guidance will be provided at the AGM, but management anticipates continued growth and opportunities in the market [47][48] Question: How does the company plan to fund future acquisitions? - The company has a Westpac facility in place and typically issues 20-50% of acquisition consideration in shares, maintaining a business owner mindset [54][55] Question: How does the company view AI's impact on revenue streams? - AI is seen as both an opportunity and a challenge, with a focus on enhancing client service through technology while maintaining a human touch [59][61]