Media Release: Broker growth underpins resilient FY25 performance at COG Financial Services
COG Financial Services Limited (ASX: COG), Australia’s largest asset finance services business, has delivered robust FY25 results, underpinned by record broker growth and the strength of its broad lender panel. Despite subdued market conditions, brokers continued to adapt and diversify with the support of COG’s technology, processing services and specialist platforms
Net assets financed of $8.4 billion This translated into a 7 per cent increase in broker numbers with more than 8,000 new accreditations processed for existing and new brokers across the year across the year. Mark Rayson, Head of COG Aggregation, says the growth underscored the strength of COG’s model in a difficult operating environment.
“Last financial year was tough for many brokers, with reduced asset values and the end of Government stimulus, but our network has continued to grow and diversify,” Rayson says. “Brokers showed their strength by staying close to clients and maximising every opportunity. Through it all, COG has been a constant – providing the largest lender panel in the market along with the scale, stability and resources to help brokers navigate a challenging market and expand into new areas.”
COG also delivered a solid financial performance, with broker growth and scale helping to offset market pressures. Importantly, strong activity occurred despite the end of the instant tax write-off in June 2024, with net assets financed recording an 8 per cent compound annual growth rate (CAGR) over the past three years.
FY25 highlights included:
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Underlying EBITDA of $38.4 million, up 4% on PCP
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Total revenue of $363.5 million, up 1% year-on-year
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Net assets financed of $8.4 billion
Damian Mantini, Head of Strategic Partnerships at Platform Finance, says the performance highlighted both broker resilience and appetite for diversification. “Brokers are adapting to client demand by going wider – into SME, personal and other finance solutions – and Platform Finance is helping them make that transition,” Mantini says.
“This endurance is also reflected in broader market data. Equifax’s Quarterly Commercial Insights for Q2FY25 showed asset finance applications were up 1.4 per cent compared with the same quarter in 2024. That aligns with what we’re seeing across our network: brokers continuing to find opportunities, even in a subdued market. It was Platform Finance’s strongest year yet, demonstrating the power of combining COG’s scale with the right support and processing services.”
Technology and future focus
COG continued to invest in its purpose-built COG Connect platform, with three dedicated development teams rolling out new features. “COG Connect was built by asset finance brokers for asset finance brokers,” says Rayson. “It’s designed to simplify the way brokers work, with smarter tools and integrated compliance support. By taking care of the complexity in the background, it lets brokers focus on their clients and grow with confidence.
“Our DNA is asset finance – we do it well. We support brokers to be more efficient, more compliant and able to do more transactions with less stress. The Board recognises our market leadership and is backing continued growth. We’re committed to remaining the country’s largest asset finance aggregator, which means ongoing investment in purpose-built systems that make life easier for brokers.”
During the year, the group also strengthened its safeguards with the appointment of a cyber security manager, reflecting its commitment to protecting brokers and clients as digital engagement grows. At the same time, COG accelerated its investment in AI-powered solutions across the group.
“Our investment in AI is designed to make doing business quicker, smarter and more consistent, delivering measurable benefits to brokers, their clients and COG’s own team,” explains Mantini. “For brokers, it brings streamlined client communication, quicker approvals and greater consistency, reducing manual admin so they can focus on supporting clients. Internally, it provides stronger oversight, the ability to scale without compromising service, and a culture equipped with future-ready tools.”
Looking to FY26
While FY25 reflected subdued business confidence, the final quarter showed encouraging signs of recovery. “We anticipate stronger confidence and increased broker activity as interest rate cuts take effect,” Mantini says. “The final quarter indicated the cycle is beginning to turn, and we expect conditions to continue improving in the year ahead. We also expect more organic growth in our broker numbers as part of that momentum.”
Rayson adds that business confidence is a key driver for brokers and for COG. “Our sector moves with business confidence, so the signs we’re seeing are encouraging. As confidence builds, COG is well positioned to support brokers with the tools they need to seize new opportunities.”