MaxiPARTS Limited (ASX:MXI) reported an 11.8% rise in net profit before tax to $14.2 million for the 2026 financial year, alongside a shift to a net cash position of $7.0 million despite market volatility tied to geopolitical tensions in the second half.
Revenue for FY26 increased 2.7% year-over-year to $274.4 million, with the first half at $139.3 million and the second half at $135.1 million. EBITDA rose 5.5% to $28.8 million, expanding margins by 30 basis points to 10.5%, while operating cash flow surged 72.3% to $29.8 million. Earnings per share climbed 12.7% to 17.4 cents, supported by a cash conversion rate of 118%, up from 84% in the prior year.
The company reduced total borrowings from $22.5 million to $16.5 million, with available funds for drawdown totaling $11.5 million. Property, plant, and equipment investments amounted to $1.0 million. Working capital improved by $4.6 million, driven by inventory reductions of $7.8 million across MaxiPARTS and $1.2 million at Förch Australia.
MaxiPARTS’ core commercial vehicle parts distribution segment reported sales of $252.0 million, up 2.1% year-over-year, with EBITDA rising 6.5% to $26.2 million and margins expanding to 10.4%. Förch Australia, operating under an exclusive distribution agreement until May 2032, grew 10% during the year, expanded its national sales team to 41 members, and maintained a stock of over 10,000 product lines across warehouses in Perth, Brisbane, and Melbourne.
The Japanese parts program also achieved growth exceeding 10%, while the Kalgoorlie store, launched as a greenfield site in July 2025, reached profitability in its first year. The company’s dividend policy shifted to a 40–70% payout range of NPAT, averaging 55% for the full year and 60% in the second half, with a total dividend of 9.61 cents per share—up 55.7% year-over-year. The fully franked final dividend of 5.46 cents per share is payable on September 17, 2026, implying a 6.7% dividend yield based on the June 30 share price.
Chief Executive Peter Loimaranta described the company as a leading commercial vehicle parts and workshop consumable distribution platform, citing non-discretionary demand drivers and structural factors such as an aging vehicle fleet. Chief Financial Officer Anu Parikh highlighted EBITDA growth outpacing revenue at 5.5%, with margin expansion of 30 basis points to 10.5%.
