CAR Group (CAR) H2 2025 earnings summary

Executive summary

• Delivered another year of double-digit revenue and earnings growth, with proforma revenue of $1,144m, up 12% in constant currency and 10% in AUD, and strong performance across all regions and segments.

• Proforma EBITDA reached $641m, up 12% in constant currency and 10% in AUD, maintaining a robust EBITDA margin of 56%.

• Adjusted net profit rose 11% to $377 million, with adjusted EPS up 9% to 99.8c, supporting an 8% increase in the final dividend and an 80% payout ratio.

• Strategic focus remains on strengthening core marketplaces, expanding product offerings, leveraging technology (notably AI), and operational excellence.

• Strong operational metrics: 2.3 million vehicles online, 1.3 billion sessions, and 49,000 subscribed dealers globally.

Financial highlights

• Proforma revenue and EBITDA both grew 12% in constant currency, with a 14% CAGR over four years.

• Adjusted net profit reached $377 million, up 11% year-over-year; reported revenue was $1,184m, up 8% in AUD.

• Free cash flow conversion remained strong at 98%, with a robust balance sheet and net debt to EBITDA at 1.7x.

• Capex investment was 10% of proforma revenue, supporting growth initiatives.

• Final dividend declared at $0.415 per share, up 8% year-over-year.

Outlook and guidance

• FY2026 guidance: proforma revenue growth of 12–14%, proforma EBITDA growth of 10–13%, and adjusted net profit growth of 9–13%, all in constant currency.

• Australia expected to deliver high single-digit revenue growth; North America, Latin America, and Asia forecast double-digit revenue growth.

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

• Continued investment in product innovation, technology, and marketing, especially in marine and DealerDirect segments.

• Guidance subject to macroeconomic, geopolitical, and FX risks.