Eagers Automotive reported record first-half results for 2026, with underlying profit before tax rising 24% to AUD 250.4 million on revenue of AUD 8.1 billion, as the acquisition of CanadaOne Auto and organic growth in Australia and New Zealand offset market headwinds.
Australia and New Zealand contributed AUD 207.2 million to underlying profit before tax, up 5% from the prior period, while CanadaOne Auto, acquired in April 2026, added AUD 43.2 million in its first two months of operations. Revenue grew 24% year-on-year, with like-for-like turnover excluding CanadaOne rising by AUD 500 million. Underlying earnings before interest, tax, depreciation and amortisation reached a record AUD 364.6 million, with a margin of 4.5%.
The group’s net profit margin improved to 3.1%, compared with an industry average of 0.7%, as sales per employee surged to nearly AUD 1.6 million annually, up 75% since 2019. Total new vehicle deliveries across Australia, New Zealand and Canada exceeded 111,000 units, a 27% increase, with Australia alone posting a 16% rise in deliveries.
CanadaOne Auto, operating 42 locations across five Canadian provinces, contributed CAD 1 billion in revenue and CAD 43.2 million in underlying operating profit before tax during its first two months under Eagers’ ownership. The North American new vehicle market, at 18.6 million annual sales, remains more than 15 times larger than Australia’s, with average revenue per vehicle in Canada about 30% higher than in Australia.
Eagers also refinanced its corporate debt facilities in June 2026, securing more than AUD 700 million in additional undrawn capacity, bringing total committed core debt facilities to AUD 1.9 billion with maturities extending to 2044. Net corporate debt stood at AUD 674.9 million as of June 30, supported by a property portfolio valued at AUD 1.6 billion, including AUD 624 million in equity.
The group formed a 49% joint venture with Grand Motors Group in July 2026, covering 11 locations on the Gold Coast and Sydney Metro with annual turnover of approximately AUD 490 million. The company highlighted continued strength in the luxury and super-luxury segments, where new car models valued above AUD 120,000 face less disruption than mainstream segments below that threshold.
Eagers Automotive’s shares last traded at AUD 23.38, down 0.17% on the day.
