ASG Posts $2.865B Revenue and $47.1M NPBT, Boosted by Stillwell Acquisition

Strong Financial Performance Amid Market Recovery

Autosports Group Limited (ASG) closed FY25 with a normalised profit before tax of $47.1 million, marking a significant 33% increase in the second half compared to the first. This uplift reflects improving conditions in the new vehicle market and the successful integration of strategic acquisitions, notably the Stillwell Motor Group, which contributed $241 million in revenue since its October 2024 acquisition.

Revenue for the year rose 8.2% to $2.865 billion, underpinned by a diversified portfolio of luxury and prestige automotive brands. The company’s operating cash flow remained strong at $116 million, supporting both organic growth and acquisition-led expansion.

Strategic Acquisitions and Greenfield Expansion

ASG’s growth strategy is clearly focused on consolidating the fragmented Australian automotive retail market through acquisitions and greenfield dealership launches. In FY25, the group launched six new greenfield dealerships featuring Polestar and Zeekr brands, expanding its footprint in the electric vehicle segment.

Looking ahead, ASG has entered agreements to acquire the Porsche Centre Canberra and Mercedes-Benz Canberra dealerships, with settlements expected in late 2025. These acquisitions not only deepen ASG’s luxury brand portfolio but also mark its entry into the ACT market, enhancing its presence in key metropolitan areas.

Further growth is anticipated from new greenfield sites for Volvo Cars and Geely brands, operational from H1 FY26, and a planned Mercedes-Benz facility in Southport, Queensland, targeted for FY27. This Southport development is expected to double ASG’s Mercedes-Benz footprint, reinforcing its position as a preferred partner for premium OEMs.

Improved Capital Structure and Operating Leverage

ASG secured a new $350 million syndicated debt facility in June 2025, increasing its growth funding headroom by $110 million. This facility, supported by major financiers including BMW Australia Finance and Commonwealth Bank, simplifies covenants and reduces capital repayments, improving cash flow by approximately $25 million annually.

The company’s balance sheet remains robust, with corporate debt of $240.5 million closely matched by property assets valued at $244.8 million. Strategic property acquisitions in Southport and Canberra further enhance ASG’s control over key retail sites, reducing occupancy costs and supporting long-term growth.

Outlook – Momentum and Market Opportunities

ASG expects the improving new vehicle market conditions to continue through FY26, with revenue growth driven by existing dealerships and the full-year impact of recent acquisitions. The used vehicle, servicing, parts, and collision repair segments are forecasted to grow steadily, providing a resilient revenue base.

July 2025 showed promising momentum with revenue up approximately 13.5% year-on-year and new vehicle orders rising 20.2%. ASG remains actively engaged in identifying further acquisition opportunities aligned with its strategic priorities, aiming to sustain acquisition-led revenue growth exceeding $250 million annually.