Olympia Financial Group Inc. Reports Strong Revenue Growth in 2024

Olympia Financial Group Inc. (TSX: OLY) has announced its annual results for the year ended December 31, 2024, showcasing a robust 3% increase in total revenue, driven primarily by a surge in trust income. The company's audited financial statements and management's discussion and analysis are now available on SEDAR (www.sedarplus.ca).

Revenue Growth and Key Drivers

Olympia's total revenue increased to $102.92 million from $100.21 million in 2023, with trust income being a significant contributor to this growth. Trust, interest, and other income rose by 6% to $55.14 million, primarily due to an increase in the total amount of funds held in trust over the previous 12 months and higher interest rates on trust fund placements.



Service Revenue and Challenges

Service revenue decreased by 1% to $47.78 million, mainly due to lower trading profits and losses. This decline can be attributed to a decrease in trading volumes in the CGP division. To address these challenges, Olympia could explore strategies such as diversifying revenue streams, improving trading technology, strengthening risk management, expanding the client base, and monitoring market trends.



Financial Performance and Outlook

Earnings before income tax decreased by 2% to $31.00 million from $31.59 million, while income tax expense remained consistent at a 24% rate. Basic and diluted earnings per share attributable to shareholders of Olympia decreased by less than 1% to $9.94 per share from $9.96 per share.

Looking ahead, Olympia Financial Group Inc. is well-positioned to maintain and grow its trust, interest, and other income by focusing on strategies such as diversifying investment portfolios, maintaining strong client relationships, expanding service offerings, optimizing interest rates, and strengthening risk management.

In conclusion, Olympia Financial Group Inc. has reported strong revenue growth in 2024, driven primarily by an increase in trust income. The company faces challenges in its service revenue due to lower trading profits and losses but is well-equipped to address these issues and maintain its financial performance. As Olympia continues to execute its strategic initiatives, investors can expect the company to deliver solid results in the coming years.