MaxiPARTS (MXI) H1 2026 earnings summary

Executive summary

• Revenue for the six months ended 31 December 2025 was AUD 139.3 million, up 1.8% year-over-year, with Q2 outperforming Q1 and regional differences in market performance.

• Interim dividend increased by 36% to 4.15 cents per share, fully franked, reflecting improved results and a change in dividend policy.

• The group completed the acquisition of the remaining 20% of Förch Australia, now holding 100% ownership, and the Kalgoorlie greenfield site reached profitability quickly.

• Net profit for the period was AUD 3.6 million, slightly down from the prior year due to higher losses from discontinued operations.

• On track to meet full-year profit expectations, with stronger H2 results anticipated after H1 investments in organic growth initiatives.

Financial highlights

• Revenue for the period was AUD 139.3 million, up 1.8% year-over-year.

• EBITDA was AUD 13.9 million, maintaining a 10% margin, up 0.7% year-over-year.

• Net profit before tax from continuing operations was AUD 6.5 million, up 1.6% year-over-year.

• Earnings per share from continuing operations rose 8.8% to 8.3 cents; total EPS was 6.57 cents, down from 6.73 cents.

• Operating cash flow was AUD 7.0 million, down 16% year-over-year, with gross operating cash conversion at 65%.

Outlook and guidance

• Expect improvement in cash conversion and net debt in the second half as investments in inventory and Förch normalize.

• Revenue and profit improvements anticipated in H2, driven by Kalgoorlie store, customer expansion, and Japanese parts program.

• Förch segment expected to see margin uplift as expanded sales team matures.

• Cash conversion rates expected to return to above 80% in H2.

• No abnormal CapEx or investment projects expected in H2.