Turners updates earnings guidance

• Upgrades FY26 NPBT guidance to around $63 million
• Positive summer trading with strong vehicle sales and improved margins
• Finance lending activity performed well, gaining market share

Turners Automotive Group Limited (NZX/ASX: TRA) has upgraded its earnings guidance for the year ending 31 March 2026, reflecting stronger-than-expected trading performance across all core parts of the business. Based on current trading conditions, Turners now expects net profit before tax (NPBT) before goodwill adjustments to be around $63 million, an increase to previous guidance of 'around $60 million' and approaching the previously stated profit target of $65 million in FY28. The company has experienced positive summer trading, with strong vehicle sales volumes and an improvement in vehicle margins earned in the Auto Retail division. The Group has benefited from disciplined purchasing, effective pricing, and continued market share gains. Finance lending activity also performed well, with January and February delivering several new lending records and consistent with Turners' stated goal to grow its book without compromising credit quality. The business continues to gain market share in the vehicle finance segment. Turners also advised that the carrying value of the EC Credit business would be reviewed, and the Group expects a non-cash goodwill write-down of between $7 to $9 million. Excluding this goodwill write-down, the upgraded guidance confirms another record result for Turners Automotive Group, continuing the Group's track record of consistent earnings growth and outperformance across the cycle.

Turners now expects net profit before tax (NPBT) before goodwill adjustments to be around $63 million for the financial year ending 31 March 2026.

The company is looking forward to updating the market on its five-year strategy at an institutional investor day on 24th March 2026.