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Smartgroup (SIQ) investor relations material
Smartgroup H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue grew 7% year-over-year to $159.1 million, driven by higher novated leasing volumes and new client wins.
EBITDA increased 13% to $63.6 million, with margin improving to 40%.
NPATA rose 12% to $38.1 million, and return on equity reached 30.7%.
Active salary packages increased 20% year-over-year to 484,000; novated leases under management grew 24% to 80,000; fleet vehicles managed up 6% to 32,400.
Interim fully franked dividend of 19.5 cents per share declared, representing 69% of NPATA.
Financial highlights
Revenue up 7% year-over-year to $159.1 million; net revenue up 8% to $153.1 million.
EBITDA margin improved by 2 percentage points to 40%.
NPATA per share: 28.1 cents, up 10% year-over-year.
Cash conversion was strong at 138% of NPATA, aided by favorable working capital and tax timing.
Return on equity at 30.7%, up 1.9 percentage points year-over-year.
Outlook and guidance
Continued focus on strategic priorities and technology investment to drive growth.
2026 expected to be a significant year for technology investment and change delivery.
Targeting EBITDA margin in the mid-40% range during 2027, with acceleration expected post-2026.
Software/technology capex for 2025 expected at $11–$13 million.
Market conditions and customer sentiment being closely monitored; recent partnerships expected to unlock new growth channels.
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