CAR Group (CAR) H1 2026 earnings summary

Executive summary

• Achieved 13% proforma revenue growth and 12% proforma EBITDA growth (constant currency) in H1 FY26, maintaining a five-year track record of double-digit growth.

• Adjusted NPAT increased 12% to $197m, and reported NPAT rose 16% to $143m year-over-year.

• Growth was broad-based across Australia, Brazil, South Korea, and the U.S., with notable improvement in the U.S. market.

• Maintained strong market leadership and unique audience growth in all regions, underpinned by product innovation and local relevance.

• Operational scale: 2.4 million vehicles online, 50,000 subscribed dealers, and 52 million unique monthly audience.

Financial highlights

• Proforma revenue reached $626m, up 14% in AUD and 13% in constant currency; proforma EBITDA was $339m, up 12%.

• Interim dividend of 42.5 cents per share declared, up 10% year-over-year, with an 82% payout ratio.

• EBITDA margins: Australia 65%, North America 59%, Asia 44%, Latin America 38%.

• 95% EBITDA to operating cash conversion; leverage at 1.8x net debt/EBITDA; CapEx steady at 10% of revenue.

• Adjusted EPS increased 11% to 52.0 cents; basic EPS 37.9 cents (up 16%).

Outlook and guidance

• FY26 guidance reaffirmed: proforma revenue growth 12–14%, EBITDA growth 10–13%, adjusted NPAT growth 9–13% (constant currency).

• FX headwind expected to reduce reported AUD growth by 2% for FY26 if current rates persist.

• Confident in delivering at the top end of guidance, targeting continued double-digit growth.

• Growth expectations depend on macroeconomic conditions, customer demand, inflation, and FX rates.

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