Eagers Automotive Limited has delivered record first half revenue of $6.5 billion, an increase of 18.9% on the previous corresponding period, as Australia's leading automotive retail group continues to outperform industry benchmarks.
Eagers Automotive Limited recently announced its financial results for the twelve months ended December 31, 2024 (FY24), claiming it has outperformed the industry. It delivered revenue of $11.2 billion, an increase of 13.6% on FY23. Underlying Operating Profit Before Tax for FY24 was $371.2 million (FY23: $433.3 million).
Eagers chief executive Keith Thornton says the second half of 2024 will be challenging as the automotive retail giant navigates external cost pressures, OEM inventory levels, and lower consumer confidence. In August, Eagers reported a half-year revenue of AUD 5.5 billion for FY24, up 13.4% on FY23.
Businessman Nick Politis will receive a further $25 million shareholding in Eagers Automotive as it acquires a portfolio of dealerships in Victoria in which he is a stakeholder. Eagers Automotive has agreed to acquire the dealerships and properties across Melbourne and the Mornington region for about $245 million from a group of companies associated with Politis.
Eagers Automotive has announced a $246.5 million statutory profit before tax for the first half of the 2022 financial year with an underlying profit before tax or $195.1 million.
ASX-listed company Eagers Automotive has confirmed it will go ahead with the July-scheduled acquisition of Janrule Automotive Group from WFM Motors Pty Ltd. giving it a sizeable market footprint in the Australian Capital Territory.
