CAR Group has announced a reported net profit of $143 million, surpassing the previous period by 16 per cent. The company anticipates single-digit revenue growth in Australia for the remainder of the financial year. CAR Group is a global automotive group that connects buyers and sellers through digital marketplaces. They also provide integrated software and data solutions for the automotive industry.
Pro forma revenue for the December half of the financial year reached $626 million, exceeding the Visible Alpha consensus of $619.4 million. However, pro forma EBITDA of $339 million slightly missed the forecast of $339.9 million. Revenue experienced a 13 per cent increase in constant currency, positioning the group to achieve its fifth consecutive year of double-digit growth.
The company reported that underlying earnings growth was achieved alongside investments in Marine in the US and Dealer Direct in Korea. US revenue demonstrated strong growth, attributed to dealer adoption and the successful implementation of its diversification strategy. This growth underscores the effectiveness of the company’s strategic investments and market expansion efforts.
CAR Group has reaffirmed its financial year 2026 outlook, projecting a 12 to 14 per cent pro forma revenue growth in constant currency. The company also noted that artificial intelligence-led product development is enhancing efficiency and improving customer experience without necessitating additional investment. This technological advancement is expected to further drive growth and solidify the company’s market position.
