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NZ
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GER
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Highlights
- Smartgroup achieved a 26.1% increase in net revenue, reaching AUD 141.9 million for the first half of 2024.
- SIQ reported a 16% YoY increase in NPATA, reaching AUD 34.1 million in 1HFY24.
- Smartgroup plans to accelerate its digital investments to improve customer experience and productivity in its leasing and salary packaging services.
Smartgroup Corporation Ltd (ASX:SIQ) is an Australian company publicly traded on the Australian Securities Exchange (ASX). It offers a wide range of integrated products, including salary packaging, novated leasing, fleet management, and workforce optimisation services.
In the first half of the financial year 2024 (1HFY24), SIQ posted an impressive 26.1% increase in net revenue, reaching AUD 141.9 million, driven largely by higher volumes in novated leasing. This growth was supported by strategic demand-generation efforts and improving vehicle supply. The increase in revenue contributed to a 20% YoY growth in EBITDA, reaching AUD 56.2 million.
For the reported period, the company posted a profit after tax (NPATA) of AUD 34.1 million, reflecting a 16% YoY increase. Smartgroup also maintained a solid operating cash flow of AUD 36.6 million, equating to 108% of NPATA.
The company declared an interim dividend of 17.5 cents per share. The dividend was fully franked and represented a payout ratio of 69% of NPATA.
Outlook
In 2HFY24, the company plans to accelerate the implementation of digital investments in its leasing and salary packaging services. These initiatives are designed to further improve both customer experience and productivity. With a continued emphasis on cost efficiency, Smartgroup aims to drive growth by providing exceptional service to both existing and new clients.
Top 10 shareholders of SIQ
The top 10 shareholders of SIQ have around 35.11% shareholding in the company. Australian Retirement Trust holds the highest stake in the firm with shareholding of 5%.
Share performance of SIQ
SIQ shares closed 0.52% down at AUD 7.70 per share on 30 December 2024. Over the past year, the share price dropped by almost 11.21%, and in the last three months, it declined by nearly 8.33%.
52-week high of SIQ is AUD 10.798, recorded on 1 March 2024 and 52-week low is AUD 7.48, recorded on 27 August 2024.
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 30 December 2024. The reference data in this report has been partly sourced from REFINITIV.
Disclaimer
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