• Revenue up 8% to $329.3m
• EBITDA up 14% to $135.3m, with EBITDA margin at 41%
• NPATA up 11% to $80.2m, Statutory NPAT up 5% to $79.4m

Smartgroup Corporation Ltd (ASX: SIQ), a leading employee services and fleet solutions provider, reported its full-year results for the 12 months ended 31 December 2025 (CY 2025). The company delivered strong financial and operational performance, with revenue of $329.3m, up 8% on the prior corresponding period (pcp). Operating expenses increased 5% to $182.7m, as the group continued to invest for growth while focusing on improving scalability. EBITDA of $135.3m was up 14% on pcp, and the EBITDA margin was 41% for the year. Profit after tax, as measured by NPATA, was $80.2m for 2025, up 11% on pcp. Smartgroup maintained a strong balance sheet with low net debt of $38.1m as at 31 December 2025, being 0.3x EBITDA. The company saw growth in its salary packaging, novated leasing, and fleet management businesses, with record customer numbers across these segments. Smartgroup also made progress on its strategic priorities, including delivering a 16% improvement in customers per operations FTE, enhancing its digital customer experience, and expanding its product and service offerings through partnerships.

Based on current market conditions, Smartgroup is targeting EBITDA margins in the mid-40s range during 2027.

Looking ahead, Smartgroup sees a supportive environment for further growth, with robust demand for its products and services. The company's focus is on deepening relationships with existing clients, broadening its benefits offering, and continuing to grow novated leasing, across both electric and internal combustion engine vehicles. Smartgroup is executing its strategic priorities with discipline, building a more scalable and digital business, simplifying brands and systems, modernising technology, and embedding automation and AI to enhance customer service.