CAR Group (CAR) H2 2025 earnings summary

Executive summary

• Delivered strong FY25 results with double-digit revenue and earnings growth across all regions, supported by a diversified global business model and disciplined strategy execution.

• Pro forma revenue reached $1,144m, up 12% in constant currency, with pro forma EBITDA of $641m, also up 12%, maintaining a robust 56% margin.

• Adjusted net profit rose 11% to $377 million, and adjusted EPS increased to 99.8 cents, up 9–11%.

• Final dividend declared at 41.5 cents per share, up 8% year-over-year, with an 80% payout ratio.

• Strategic focus remains on strengthening core marketplaces, expanding product offerings, leveraging technology (notably AI), and operational excellence.

Financial highlights

• Pro forma revenue and EBITDA both grew 12% in constant currency, with a 56% EBITDA margin maintained.

• Adjusted net profit reached $377 million, up 11% year-over-year; adjusted EPS at 99.8 cents, up 9–11%.

• Free cash flow conversion remained strong at 98%, with net debt to EBITDA at 1.7x.

• CapEx investment was 10% of pro forma revenue, supporting ongoing reinvestment and growth initiatives.

• Reported revenue was $1,184m, up 8% in AUD; reported NPAT was $275m, up 10%.

Outlook and guidance

• FY26 guidance: pro forma revenue growth of 12–14%, pro forma EBITDA growth of 10–13%, and adjusted net profit growth of 9–13%, all in constant currency.

• Net finance costs estimated at $60–64m; D&A to grow 15–17%; effective tax rate to rise to 20–21%.

• Continued investment in product innovation, technology, and marketing, especially in marine and DealerDirect segments.

• Margin expected to slightly decline due to increased investment, but long-term operating leverage remains a focus.

• Guidance subject to macroeconomic, geopolitical, and FX risks.