WiseTech delivers strong 1H result, progress on 3P strategy
| Stock | Wisetech Global Ltd (WTC.ASX) |
|---|---|
| Release Time | 26 Feb 2025, 8:37 a.m. |
| Price Sensitive | Yes |
WiseTech delivers strong 1H result, progress on 3P strategy
- 21% CargoWise revenue growth, 17% total revenue growth
- 28% EBITDA growth with margin up 5pp to 50%
- Progressing with breakthrough products - ComplianceWise and CargoWise Next launched, Container Transport Optimization now expected as an initial launch in 2H25 in Australia
WiseTech Global Limited (WiseTech or the Company) today announced its financial results for the six months ended 31 December 2024 (1H25). The Company reported total revenue growth of 17% to $381.0 million, driven by 21% growth in CargoWise revenue. EBITDA grew 28% to $192.3 million, with the EBITDA margin expanding 5 percentage points to 50%. Underlying NPAT increased 34% to $112.1 million. The Company continued to make progress on its 3P strategy, with the launch of ComplianceWise and CargoWise Next, and the development of Container Transport Optimization, expected to launch in the second half of FY25 in Australia. WiseTech also secured a new rollout with Top 25 Global Freight Forwarder Nippon Express and completed the acquisition of Singeste, expanding its global customs platform. The Company's cost efficiency program exceeded its target, and the Board has determined a fully franked interim ordinary dividend of 6.7cps, representing a 31% increase on the FY24 interim dividend.
FY25 revenue is expected to be at the bottom end of the previously announced guidance range, due to further delays to the rollout of the three announced Breakthrough Products. FY25 EBITDA margin rate is expected to be towards the top of the previously announced range, driven by stronger results from a company-wide efficiency program.
The opportunity for future growth is substantial and underpinned by WiseTech's strategic investments in technology, its breakthrough products, and its global teams' relentless focus on adding long-term value for its global supply chain customers.