WiseTech Global (WTC) H2 2024 earnings summary

Executive summary

• Achieved strong FY24 performance with total revenue up 28% to AUD 1.04 billion and EBITDA up 28% to AUD 495.6 million, with Q4 EBITDA margin reaching 50% a year ahead of schedule, driven by the 3P strategy and operational leverage.

• Launched three breakthrough products: CargoWise Next, Container Transport Optimization, and ComplianceWise, expanding product capabilities and addressing key industry pain points.

• Secured major new customers, including Nippon Express and Sinotrans, increasing large global rollouts to 52 and covering over 50% of the top 25 global freight forwarders.

• Solid foundation and momentum established for FY25 and beyond.

Financial highlights

• FY24 total revenue was AUD 1.04 billion, up 28% year-over-year, with organic revenue growth of 15%.

• CargoWise revenue grew 33% to AUD 880.3 million, with 19% organic growth.

• EBITDA increased 28% to AUD 495.6 million, with a margin of 48% and Q4 run rate at 50%.

• Underlying NPAT rose 15% to AUD 283.5 million; statutory NPAT increased 24% to AUD 262.8 million.

• Free cash flow reached AUD 333 million, up 14%; operating cash flow was AUD 531.1 million, up 23%.

• Final dividend of AUD 0.092 per share, up 10%, with a 20% payout ratio.

• Gross profit margin was 85%, down one percentage point due to M&A dilution.

Outlook and guidance

• FY25 revenue guidance: AUD 1.3–1.35 billion, representing 25–30% growth; EBITDA guidance of AUD 660–700 million, up 33–41%, with margin exit rate around 53%.

• Revenue expected to be significantly second-half weighted due to timing of new product launches.

• Reporting currency to switch to US dollars from FY25.

• Guidance assumes strong CargoWise organic growth, new product launches, continued R&D investment, and no material changes or unforeseen events prior to June 30, 2025.