• Revenue up 2.1% to A$1.4bn
• Gross margin down 1.4% to 18.3%
• Interest costs up 17.9% to A$32.3m
• Normalised PBT down 63.1% to A$20.2m

Autosports Group Ltd (ASG) reported its H1 2025FY results, which were impacted by challenging trading conditions in the new vehicle market. Revenue grew 2.1% to A$1.369bn, driven by the acquisition of Stillwell Motor Group (SMG) which contributed A$80m in revenue. However, gross margins declined 1.4% to 18.3%, primarily due to lower new vehicle margins and lower OEM KPI bonuses. Interest costs continued to impact profitability, increasing 17.9% to A$32.3m, mainly driven by elevated inventory levels in Q1. As a result, normalised PBT declined 63.1% to A$20.2m. The company paid an interim dividend of 3.5 cents per share, fully franked, down 61.1% on the prior corresponding period. ASG generated strong operating cash flow of A$78.8m, enabling it to repay A$14.7m of debt and pay the final 2024FY dividend of A$16.2m. The company also completed the acquisition of SMG and was appointed as the retail partner for Polestar and Zeekr in select locations. Looking ahead, ASG expects the new vehicle market to remain challenging in H2 2025FY, with new vehicle inventory levels expected to drop in line with the market. However, the full-year cycling of the SMG acquisition and the opening of 6 new Polestar and Zeekr greenfield sites are expected to support revenue growth in H2 2025FY.

ASG expects the new vehicle market to remain challenging in H2 2025FY, with new vehicle inventory levels expected to drop in line with the market. However, the full-year cycling of the SMG acquisition and the opening of 6 new Polestar and Zeekr greenfield sites are expected to support revenue growth in H2 2025FY.