• Group revenue up 0.3% vs PCP, with Trade revenue up 1.9% and EBITDA up 12.3%
• Pro-forma NPAT of $45.5M down 15.2% vs PCP, statutory NPAT of $40.8M down 13.0% vs PCP
• Specialist Wholesale restructure underway to simplify business and establish platform for growth

Bapcor Ltd, the leading provider of vehicle parts, accessories, equipment, service and solutions in the Asia Pacific region, has reported its 1H25 results. Group revenue was up 0.3% compared to the prior corresponding period (PCP), with the Trade segment revenue increasing by 1.9% and EBITDA up 12.3%. The Specialist Wholesale segment revenue increased by 0.8%, while the Retail segment revenue declined by 1.1%. New Zealand revenue was flat in local currency and declined 1.8% in AUD. Pro-forma NPAT was $45.5M, down 15.2% compared to PCP, while statutory NPAT was $40.8M, down 13.0% compared to PCP. The company is focused on delivering $20M-$30M in cost savings in FY25, simplifying the Specialist Networks business, and reviewing the Retail and Wholesale operations. Key management actions include the integration of CVG and AEG operations, network expansion in Trade, and investments in IT systems. The new CEO has identified opportunities to simplify the operational model, strengthen the core businesses, and improve inventory management and pricing. The company's balance sheet remains strong, with net debt down 9.7% to $304.5M, and cash conversion improving to 108.5%.