ASX-SIQ Industrials

Smartgroup Corporation Ltd (ASX:SIQ) Reports 10% Revenue Growth in Q1 2025

ClubAI 1:04 pm

Financial Performance

Smartgroup Corporation Ltd reported a 10% increase in average monthly revenue for Q1 2025 compared to Q1 2024. Novated leasing settlements rose by 1% compared to H2 2024 and 9% year-over-year. Novated leasing orders, excluding refinanced deals, surged by 9% versus H2 2024 and 21% from the previous comparable period. The company also saw a 51% share of new vehicle orders in EVs, with BEVs accounting for 30% and PHEVs for 21%.

Executive Comments

Managing Director and CEO, Scott Wharton, stated, “We are pleased that our Strategic Priorities and targeted investments have led to positive operational momentum in 2025. Leasing demand remained stable for both EV and ICE vehicles, and we benefited from a boost in PHEV demand during the quarter.” He also stated, “We remain cautiously optimistic for the year ahead. We continue to progress our Strategic Priorities, focusing on the delivery of our digital assets in our leasing and salary packaging businesses. These investments will further improve customer experience and increase efficiency and scalability.”

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Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Smartgroup. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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