Autosports Group (ASG) H2 2026 earnings summary

Executive summary

• Delivered record FY26 revenue of AUD 3.186 billion (up 12% year-over-year) and record gross profit of AUD 590 million (up 15%), driven by disciplined trading, luxury brand focus, and strategic acquisitions.

• Normalised net profit before tax rose 11% to AUD 53.5 million, at the high end of guidance.

• Statutory net profit after tax fell 18% due to prior period impairment reversal and higher lease interest costs.

• Order bank for new vehicles up 290% since FY25, with strong momentum in electric and new energy vehicle (NEV) adoption.

• Awarded 17 Dealer of the Year awards, enhancing reputation with OEMs.

Financial highlights

• Gross margin improved to 18.5%, up 0.6% year-over-year.

• Normalised EBITDA margin steady at 4.2%; normalised PBT margin at 1.7%.

• Operating cash flow of AUD 59.2 million, with 82% cash conversion, impacted by working capital timing.

• Fully franked dividend of AUD 0.08 per share for FY26.

• Net debt to EBITDA at 2.17x, expected to fall below 2x in FY27.

Outlook and guidance

• Positive outlook for FY27, with revenue growth supported by full-year cycling of FY26 acquisitions and new luxury BEV product rollouts.

• EV/NEV order bank expected to unwind as supply improves in H2 FY27, especially for European brands.

• July 2026 new vehicle order write up 18% year-over-year.

• Planned capital expenditure of AUD 27–30 million in FY27 for facility upgrades and property settlement.