Harvey Norman Holdings (HVN) H1 2026 earnings summary

Executive summary

• Profit before tax rose 16.5% year-over-year to $466.31M, driven by strong Australian franchising, overseas retail, and property income.

• System sales grew 6.9% to $5.16BN, with franchisee sales up 4.8% and company-operated sales up 11.6%.

• Net assets increased 4.9% to $4.95BN; total assets up 6.3% to $8.77BN.

• Interim dividend per share increased 20.8% to 14.56c, fully franked.

Financial highlights

• EBITDA rose 14.9% to $667.88M; EBITDA excluding AASB16 and property revaluations up 16.9% to $454.52M.

• EBIT up 14.4% to $527.53M year-over-year.

• Reported PAT up 15.2% to $321.91M; PAT excluding AASB16 and property revaluations up 18.5% to $256.19M.

• Basic EPS up 15.3% to 25.84cps; net tangible assets per share increased to $4.36.

• Consolidated revenue up 10.5% to $2.53BN.

Outlook and guidance

• Continued sales growth into January 2026 across all regions and segments; January 2026 system sales up 4.6% year-over-year.

• Plans for new store openings and relocations in Australia, UK, Malaysia, and Croatia through FY27.

• Ongoing investment in store refits and digital transformation.