Key points
- FY26 marked a reset and turnaround year for Bapcor
- Operational momentum improved in 2H26 with working capital initiatives delivering $68.5M cash flow
- Net bank debt reduced by $229.8M to $135.0M, balance sheet strengthened
- Underlying EBITDA of $152.5M exceeded top end of the guidance range
- No dividend declared as cash is being prioritised to support the turnaround
Full summary
Bapcor Ltd announced its audited financial results for the year ended 30 June 2026, highlighting a reset and turnaround year with new leadership, renewed Board, and strengthened leadership team. Turnaround initiatives in the second half delivered improved operating momentum, with working capital initiatives generating $68.5M cash flow, within the guidance range of $60-$75M, and lifting cash conversion to 109.4%. The balance sheet was materially strengthened, with net bank debt reduced by $229.8M to $135.0M, supported by the February 2026 equity raising and improved cash generation. Despite a more challenging external environment, Bapcor improved trading momentum and exceeded the top end of the May 2026 guidance range for underlying EBITDA at $152.5M. No dividend was declared to prioritize cash for the turnaround.
Guidance
Underlying EBITDA of $152.5M exceeded top end of the May 2026 guidance range
Outlook
Sales for the first six weeks of FY27 are slightly ahead of the prior comparative period. Modest revenue growth is expected in FY27, with benefits largely reinvested in technology and people.