Wiseway Reports 10.1% Revenue Growth and 9.2% EBITDA Rise in FY26
Wiseway Group delivered 10.1% revenue growth to $205.6 million in FY26, led by a 22.2% surge in its eCommerce Solutions division, while maintaining EBITDA margins amid cost discipline. The Group declared a fully franked final dividend of 0.6 cents per share.
- Revenue climbs 10.1% to $205.6 million
- EBITDA rises 9.2% to $14.7 million with 7.1% margin
- eCommerce Solutions revenue grows 22.2%, becoming largest division
- Net profit before tax up 21.9% to $5.9 million
- Final dividend declared at 0.6 cents per share, fully franked
Revenue Milestone Fueled by eCommerce Expansion
Wiseway Group Limited (ASX:WWG) has crossed the $200 million revenue threshold for the first time in its FY26 results, posting $205.6 million, a 10.1% increase on FY25. This growth was powered predominantly by the Wiseway eCommerce Solutions (WES) division, which surged 22.2% to $89.2 million and now accounts for 43% of the Group’s revenue. The division’s expansion reflects robust inbound eCommerce volumes and an enhanced fulfilment and third-party logistics (3PL) offering, underscoring the rising importance of eCommerce in Wiseway’s business model.
Profitability Maintained Through Cost Discipline
Despite the shift in revenue mix towards higher-volume, lower-margin eCommerce and import freight, Wiseway held its operating expenses broadly flat, increasing only $0.5 million while adding nearly $19 million in revenue. This operational discipline preserved the Group’s EBITDA margin at 7.1%, with EBITDA rising 9.2% to $14.7 million. Net profit before tax climbed 21.9% to $5.9 million, reflecting the benefits of scale and margin management. Basic earnings per share increased 4.9% to 2.76 cents.
Mixed Performance Across Divisions and Geographies
Wiseway Global Forwarding (WGF) posted modest revenue growth of 1.7% to $69.9 million. Growth in perishables and road freight offset declines in general export air freight, particularly on the Australia–China corridor, which remains subdued. The Group continued its strategic pivot towards higher-margin accounts in this division.
Overseas operations grew 2.1% to $44.5 million. The US business, where Wiseway regained 100% ownership during the year, reported flat revenue at $33.4 million but showed underlying growth of 18.3% excluding one-off FY25 revenue related to tariff-driven stockpiling. Profitability improved in both halves of FY26, and full ownership means shareholders now fully benefit from this segment’s earnings. Singapore revenue declined 19.2% to $1.7 million, with a neutral earnings impact, while China has been repositioned as a lean operational support hub without external revenue generation.
Balance Sheet Strength and Working Capital Gains
Wiseway strengthened its balance sheet with a 31% reduction in net debt to $14.5 million, supported by improved working capital management. Net trade receivables fell 12.5% despite revenue growth, reducing receivable days by approximately 12 days. Cash and cash equivalents rose 32% to $19.1 million, positioning the Group well for continued reinvestment in technology, people, and shareholder returns.
Dividend Policy and Outlook
The Board declared a fully franked final dividend of 0.6 cents per share, payable on 9 October 2026, bringing the full-year dividend to 1.20 cents per share, a 20% increase on FY25. This payout ratio of approximately 43% of basic earnings per share is underpinned by underlying earnings growth, excluding prior year one-off tax benefits.
Looking ahead to FY27, Wiseway aims to build on established go-to-market pillars with a focus on capturing growing eCommerce trade flows across Asia, Australia, New Zealand, and the US. The Group plans to deepen its 3PL and fulfilment capabilities, expanding end-to-end supply chain solutions. Export divisions face moderated growth amid softer Australia–China demand, but strategic client mix shifts and sales expansion are expected to drive profitability. The US business is poised for momentum on a clean comparative base, supported by full ownership.
Technology Investments to Support Growth
Wiseway continues to invest in digital platforms to enhance customer visibility and operational efficiency. The rollout of the Wiseway Tracking Portal and the upcoming launch of AI-driven tools such as WiseCustoms and WiseTrack aim to provide integrated command centre capabilities and end-to-end tracking across both forwarding and eCommerce divisions, underpinning scalable growth.
CEO Ken Tong highlighted the disciplined growth achieved in FY26, noting the Group’s ability to hold costs flat while expanding revenue and profit. He emphasised the strategic importance of the US market and the growing dominance of the eCommerce Solutions division as key drivers for the next phase of Wiseway’s development.
Bottom Line?
Wiseway’s FY26 results showcase disciplined growth with eCommerce at the helm, but the challenge remains to sustain margin amidst shifting revenue mix and softer export markets.
Questions in the middle?
- Can Wiseway maintain EBITDA margins as eCommerce volumes continue to grow and dominate revenue?
- How will the repositioned China hub contribute operationally without direct revenue generation?
- What impact will the full ownership of the US business have on Wiseway’s growth trajectory beyond FY27?
