• Sales activity increased over the period, with Q2 stronger than Q1
• Kalgoorlie (WA) greenfield site added to the MaxiPARTS network, reached profitability in Sept 2025
• Completed acquisition of Forch Australia minority holding and extended distribution agreement through to 2032

MaxiPARTS Limited (ASX: MXI) is a leading company operating within Australia's commercial vehicle and automotive parts sectors. In the half year ended 31 December 2025, the company reported a 1.8% increase in revenue to $139.3m and a consistent EBITDA margin of 10%. This included a new greenfield site in Kalgoorlie, WA, which commenced trading in July 2025 and reached profitability in September 2025. The company also completed the acquisition of the remaining 20% minority interest in Forch Australia and extended the exclusive Australian distribution agreement for Forch products through to 2032. The group remains focused on delivering EBITDA margin growth through strong pricing discipline, GP% benefits from growth of higher margin areas like the Japanese product program and Forch Australia, and a focused cost base management. While the first half saw some inconsistencies in geographic and customer performance, the company expects improvements in revenue growth rates and EBITDA profit margins in the second half, driven by the strong profit contribution from the Kalgoorlie site and uplift in Forch Australia as the expanded sales team gains traction.

The company expects both revenue and profit improvements in H2 FY26 vs H1 to meet current full year (FY26) market expectations, driven by improved Kalgoorlie store contribution, ongoing benefits from key customer expansion projects and growth of the Japanese parts program, and revenue and margin uplift in Forch Australia from the expanded sales team.

The company expects the market conditions seen in H1 to continue into H2, with improvements in cash conversion to return to 80%+ levels as inventory programs and H1 activity linked to the Kalgoorlie start-up normalise. Stronger cash generation will allow further debt repayments and potentially higher dividends, with no abnormal CAPEX or investment projects expected in H2.