Freightos a year on: big plans, new ideas and targeting profitability in 2026
It’s now a year into Freightos’s listing on Nasdaq, and the platform company has been ...
Australia’s WiseTech has just released its fiscal H1 22 results (ended 31 December), with group revenues up 18% and ebitda rising 54%.
(All figures below in A$.)
Highlights:
– 1H22 Total Revenue of $281.0 million, up 18% (22% ex FX) on 1H21
– CargoWise revenue up 29% (33% ex FX) on 1H21, at $193.0 million, driven by Large Global Freight; Forwarder1 rollouts, new customer wins, price and increased existing customer usage
– Acquisition (non-CargoWise) revenue2 of $87.9 million, down 1% (up 2% ex FX) on 1H21
– Market penetration momentum continuing – two new global rollouts secured in 1H22 – FedEx and Access World – and Brink’s Global Services (Brink’s) signed post 31 December 2021
– Ongoing product development delivered 589 CargoWise new product features and enhancements and continued expansion of the CargoWise ecosystem
– Organization-wide efficiency and acquisition synergy program well-progressed – $20.2 million of gross cost reductions in 1H22 (net benefit $19.7 million)
– EBITDA of $137.7 million up 54% on 1H21 reflecting revenue growth and cost reductions
– EBITDA margin of 49% up 12 percentage points (pp) on 1H21, reflecting enhanced operating leverage
– Underlying NPAT3 of $77.3 million, up 77% on 1H21
– Robust free cash flow of $90.3 million, up 85% on 1H21
– Strong outlook: FY22 EBITDA guidance upgraded to 33% to 43% growth (from 26% to 38%). Revenue growth guidance of 18% to 25% reaffirmed.
The full statement can be read here.
The investor pack is here.
Comment on this article