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The 2024-25 financial year saw the state’s largest member organisation:
In the 2024-25 financial year RAA recorded a $24.3 million underlying profit before tax. This represents a strong performance which did not include the payment received through our insurance partnership with Allianz Australia.
Through this partnership, RAA was entitled to receive $642 million less completion adjustments. After these adjustments as well as tax and transaction costs, this will result in around $450 million in cash retained. After accounting for RAA’s historical investment into RAA Insurance (book value), this results in an accounting profit of $276 million (inclusive of the underlying profit).
Chief Executive Officer Nick Reade said the last financial year was a defining one in RAA’s 122-year history that put the organisation in a strong position to deliver more for members and the community.
“It was a year of transformation to secure RAA’s future – we converted to a Company Limited by Guarantee under the Corporations Act and began our insurance partnership with Allianz Australia,” Mr Reade said.
“Our insurance partnership reduces our exposure to risk, builds a more resilient balance sheet and sets RAA up for the future.”
“After tax and expenses, we’ll retain around $450 million in cash which – as a mutual organisation – we’ll of course be reinvesting to return even more value to our members, and the community.
“We’ve spent the past few months engaging with members to understand what they’d like to see in terms of value, products and services – but also what role they see RAA playing in the community.
“The feedback so far has been overwhelmingly positive, and members will soon start to see new offers to help with their household budgets, as well as RAA really stepping up our support in the community.”
Mr Reade said amidst these significant reforms, RAA continued to develop and launch new products and services to meet members’ needs last financial year.
“While we continue to deliver the trusted home, motor, energy and travel solutions our members rely on, we were also able to introduce new ways to support our members,” Mr Reade said.
“We launched RAA Energy, RAA Rewards and RAA Towing – as well as completed the RAA Charge network, that state’s first border-to-border EV charging network with 144 locations.
“These new offerings are all about returning more value and benefits to our members – to save them money when they shop, power their home or help them on the roadside.”
RAA’s 2024-25 Annual Report can be viewed on the RAA website.
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