CAR Group (CAR) H1 2026 earnings summary

Executive summary

• Achieved double-digit proforma revenue and EBITDA growth in H1 FY26, with proforma revenue up 13-14% and proforma EBITDA up 12% in constant currency, maintaining a five-year track record of strong expansion.

• Adjusted NPAT rose 12% to $197m, reported NPAT increased 16% to $143m, and adjusted EPS grew 11% to 52.0 cents.

• Growth was broad-based across Australia, North America, Latin America, and Asia, with notable improvements in the U.S. and strong market leadership in all regions.

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

• Operational scale demonstrated by 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%.

• Reported revenue was $626m (up 8%); reported EBITDA was $339m (up 11%).

• Adjusted NPAT: $197m (up 11%); reported NPAT: $143m (up 16%).

• Segment revenue growth: Latin America 23-30%, North America 13%, Asia 14-17%, Australia 8%.

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

Outlook and guidance

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

• Segment guidance: high single-digit revenue growth in Australia, double-digit growth in North America, Latin America, and Asia.

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

• FX headwind expected to reduce reported AUD growth by ~2% for FY26.

• Guidance depends on macroeconomic conditions, customer demand, inflation, and FX rates.