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Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
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Smartgroup
Smartgroup (SIQ) investor relations material
Smartgroup H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2025 earnings summary25 Feb, 2026
Executive summary
Revenue increased 8% year-over-year to AUD 329.3 million, driven by higher novated leasing volumes and new client wins.
EBITDA rose 14% to AUD 135.3 million, with margin improving to 41%.
NPAT A/NPATA grew 11% to AUD 80.2 million; return on equity reached 30%.
Fully franked dividends totaled AUD 0.53 per share, representing 90% of NPAT A and up 9% year-over-year.
Active customers reached 491,000 (+10%), novated leases under management rose 15% to 85,300, and fleet-managed vehicles grew 9% to 35,200.
Financial highlights
Revenue up 8% to AUD 329.3 million; net revenue up 9% to AUD 318 million year-over-year.
EBITDA increased 14% to AUD 135.3 million; EBITDA margin up 2 percentage points to 41%.
NPAT A/NPATA up 11% to AUD 80.2 million; return on equity improved to 30%.
Cash conversion strong at 122% of NPAT A/NPATA, aided by favorable working capital and tax timing.
Net corporate debt/EBITDA reduced to 0.3x.
Outlook and guidance
Expecting robust demand and further growth in 2026, with January leasing orders and settlements up year-over-year.
2026 will be a significant year for technology investment and change delivery, with software capex for 2026 expected at AUD 11–13 million.
Targeting EBITDA margin in the mid-40s% by 2027, with further improvements anticipated beyond 2027 through automation and AI.
Given 2026 tech spend, what's the margin outlook?
EV policy review: impact on 2027 margin target?
Post-2027 efficiency gains from AI/automation.
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Next Smartgroup earnings date
H1 202626 Aug, 2026
Smartgroup
Next Smartgroup earnings date
H1 202626 Aug, 2026
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Frequently asked questions
Smartgroup Corporation Ltd (SIQ) is an Australia-based company specializing in a range of employee management services. These services include outsourced administration, fleet management, and software, distribution, and group services. The company operates through three main segments: Outsourced Administration (OA), which provides outsourced salary packaging services, novated leasing, and payroll services; Vehicle Services (VS), focusing on fleet management and related services; and Software, Distribution, and Group Services (SDGS), offering a suite of software and other services aimed at optimizing workforce management. The company is headquartered in Sydney, New South Wales, and its shares are listed on the Australian Securities Exchange.
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