Eagers Automotive (APE) H2 2025 earnings summary

Executive summary

• Achieved record revenue of AUD 13 billion ($13.0bn) for FY2025, up 16.5%–17% year-over-year, with 68% organic growth, 30% from acquisitions, and 2% greenfield expansion.

• EBITDA reached a record AUD 620.9 million ($620.9m), up 12.8% from 2024, and underlying profit before tax rose 14.3% to AUD 424.1 million.

• New vehicle unit sales rose 20.4% to 177,000, used unit sales increased 10.9% to 61,000, and market share in Australia expanded to 13.9% for new vehicles and 34% for NEVs.

• Maintained industry-leading net margin at 4% for underlying business and 3.3% reported, compared to industry average of 1.2%.

• Strategic partnerships and international expansion, notably with CanadaOne Auto Group and Mitsubishi Corporation, position the business for further global growth.

Financial highlights

• Like-for-like revenue grew 12.6% to $11.5bn, and total revenue increased by more than 50% since 2022, excluding the pending CanadaOne contribution.

• Statutory PBT increased 17.3% to $393.7m, and record full-year dividend of AUD 0.74 per share, with a final dividend of AUD 0.50 per share.

• Net debt reduced significantly to AUD 100 million ($100.0m), with gearing at 0.18x, reflecting strong deleveraging.

• Productivity per person reached AUD 1.48 million, a 60% increase since 2019 and 9% year-over-year.

• Vehicle sales rose by 36,000 units (17.8%), with new vehicle sales at 177,000 and a 2.4% increase in market share to 13.9%.

Outlook and guidance

• Pro forma consolidated revenue (including CanadaOne) for 2025 would be AUD 18.7 billion ($18.7bn), with EBITDA of AUD 968.6 million and PBT of AUD 671.8 million.

• Expecting stable new car markets in Australia and New Zealand for 2026, with continued focus on strategic growth and outperformance.

• Organic revenue growth for 2026 anticipated between AUD 500 million and AUD 1 billion, with additional acquisition opportunities under review.