Motorcycle Holdings (MTO) H1 2026 earnings summary

Executive summary

• Achieved record half-year revenue of $396.4 million, up 20.9% year-over-year, driven by organic growth and the Peter Stevens/Harley-Davidson (PSHH) acquisition.

• Underlying NPAT rose 28.7% to $12.1 million, with underlying EBITDA up 21% to $31.7 million, reflecting strong operational performance and margin expansion.

• Net profit after tax rose 18.5% to $11.2 million for the half-year ended 31 December 2025.

• Maintained market leadership with 19.8% share in new vehicle sales and record unit sales growth in both new (22.3%) and used (12.5%) vehicles.

• Strengthened balance sheet with net debt reduced to $6.1 million and increased fully franked dividend to 9.5 cents per share.

Financial highlights

• Sales revenue increased to $396.4 million from $328.0 million, gross profit up 23.9% to $102.6 million, and gross margin improved to 25.9%.

• Underlying EPS rose to 16.4 cents, up from 12.8 cents in 1H 2025.

• Net cash from operating activities was $25.5 million, with $9.9 million spent on acquisitions.

• Fully franked interim dividend of 9.5 cents per share declared, up 19% year-over-year.

• Net debt reduced by 32.2% to $6.1 million.

Outlook and guidance

• Focus remains on cost management, digital transformation, and omni-channel sales expansion.

• Expecting increased contribution from Peter Stevens/PSHH in the second half as operations normalize.

• Positive FX tailwinds anticipated to further support gross margins.

• Cautious approach to second half due to seasonality and macroeconomic factors, but confident in full-year outlook.

• Climate-related disclosures to be included in the next annual report as per new regulatory requirements.