WiseTech Global (WTC) H2 2024 earnings summary

Executive summary

• Achieved strong FY24 results 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.

• CargoWise revenue grew 33% to AUD 880.3 million, driven by organic growth, acquisitions, and large global freight forwarder rollouts.

• Announced three major products: CargoWise Next, Container Transport Optimization, and ComplianceWise, targeting logistics cost and compliance pain points.

• Secured new global rollouts, including Nippon Express and Sinotrans, expanding penetration to over 50% of the top 25 global freight forwarders.

• Established strong momentum and foundation for FY25 and beyond.

Financial highlights

• Total revenue increased 28% to AUD 1.04 billion, with organic revenue growth of 15%.

• CargoWise revenue reached AUD 880.3 million, up 33% (19% organic).

• EBITDA rose 28% to AUD 495.6 million, with margin at 48% for the year and 50% in Q4.

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

• Free cash flow up 14% to AUD 333 million; free cash flow conversion rate 67%.

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

Outlook and guidance

• FY25 revenue guidance: AUD 1.3–1.35 billion (25%–30% growth); CargoWise revenue expected to grow 31%–37%.

• FY25 EBITDA guidance: AUD 660–700 million (33%–41% growth), with EBITDA margin expected at 51%–52%.

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

• Company-wide efficiency program target increased to AUD 50 million annual run rate savings.

• Guidance assumes no material changes or unforeseen events before June 30, 2025, but is subject to economic, industrial production, and geopolitical risks.