Highlights

  • Supply Network reported FY26 total Revenue of AUD 403.7 million, with sales revenue increasing 15.5% to AUD 403.0 million.
  • EBIT increased 18.8% to AUD 69.4 million, while profit after tax reached AUD 47.6 million.
  • Growth remained broad across geographic markets, customer segments, vehicle models and product groups.
  • FY27 priorities include further branch-network expansion, operational integration and a target of around AUD 50 million in additional revenue.

Supply Network Limited (ASX:SNL) operates through the Multispares brand, supplying replacement parts and related services to the commercial road transport industry across Australia and New Zealand. While the basic proposition is centred on truck and bus parts, the Business extends into parts interpretation, procurement, Supply management and technical problem solving.

The company competes within the independent aftermarket rather than relying on vehicle manufacturers’ Franchise networks. Its strategy is built around product breadth, technical knowledge, local customer relationships and the ability to provide alternatives to genuine manufacturer parts at competitive prices.

Supply Network’s most recent substantive financial update came with its FY26 Annual Report released on 24 August 2026. The result showed another year of revenue and Earnings growth despite more difficult operating conditions during the second half, alongside continued Investment in branches, distribution infrastructure and technology.

FY26 Performance

Supply Network reported total FY26 revenue of AUD 403.7 million, compared with AUD 349.9 million in FY25.

Sales revenue was AUD 403.0 million, representing growth of 15.5%. The Australian operation recorded sales growth of 17.2%, while New Zealand sales increased 12.2% in NZD terms.

Growth was not concentrated in one particular market. Management reported expansion across geographies, customer segments, vehicle models and product groups, indicating that the increase reflected broader business development rather than reliance on a single category.

EBITDA increased 17.9% to AUD 81.1 million, while EBIT advanced 18.8% to AUD 69.4 million.

Profit after tax reached AUD 47.6 million, up from AUD 40.0 million in FY25. The profit-after-tax Margin improved to 11.8%, around 0.3 percentage points higher than the prior year.

Basic earnings per share increased to 109.0 cents from 92.9 cents.

The company also generated AUD 38.4 million of operating cash flow, compared with AUD 32.2 million in FY25, and finished June with net cash of AUD 17.9 million.

Multispares Model

Multispares operates in a commercial vehicle aftermarket that requires a different service proposition from conventional retail distribution.

Australia and New Zealand have diverse truck and bus fleets, with numerous vehicle makes, models and applications operating over large geographic areas. This creates complexity for replacement-parts suppliers because product Demand can vary significantly between regions and customer types.

Supply Network positions Multispares toward the quality end of the independent aftermarket. Rather than competing primarily on the lowest available product cost, the group emphasises reliable products, technical support and reducing customers’ overall fleet operating costs.

Scale is also becoming increasingly important. A larger distribution and branch network can support broader product availability while allowing purchasing, inventory and technology costs to be spread across greater sales volumes.

Management believes independent suppliers can continue gaining opportunities as transport operators seek high-quality alternatives to original-equipment parts while expecting increasingly specialised customer service.

Network Expansion

Physical network investment remains a significant component of Supply Network’s growth strategy.

In New Zealand, the company opened a new Rosedale branch in North Auckland in March 2026. Management said the location was performing ahead of expectations. It also completed an expansion of racking capacity at its Hamilton distribution centre in June, providing additional capacity for future growth.

Australia is entering another phase of network development.

Supply Network took possession of additional space at its Eagle Farm operation on 1 July 2026, effectively tripling the branch footprint. The expansion is designed to improve service across the North Brisbane-to-Sunshine Coast corridor.

The Canberra branch footprint doubled from 1 August 2026, with additional stock investment planned as the expanded Facility develops.

Further projects include relocating the Toowoomba branch to a larger site in October 2026 and relocating Kwinana during the third quarter of FY27. The Kwinana site is expected to offer almost three times the existing capacity.

Supply Network has also purchased land at Penrith for a new branch intended to support Sydney’s growing north-west region. The development and fit-out is expected to cost around AUD 9 million, with opening targeted for early FY28.

Technology Investment

Supply Network also completed significant operating-system upgrades during FY26.

The Australian and New Zealand businesses transitioned to a new ERP backbone, alongside a browser-based sales interface and enhanced Warehouse scanning capabilities.

Management sees these systems as important infrastructure for future productivity gains. With the main implementation phase completed, attention is turning toward improving process efficiency, reducing operating costs and enhancing customer service.

The company also completed the integration of its Pemulwuy distribution centre in Sydney and expanded Truganina facility in Melbourne.

Closer integration between Australia and New Zealand represents another operational priority. During FY26, Supply Network changed its Australian General Manager role to Group General Manager to improve coordination between the two businesses and strengthen management across the wider Multispares network.

FY27 Focus

Management has targeted approximately AUD 50 million of additional revenue in FY27.

Achieving that objective will depend on continued customer acquisition, expansion with existing accounts, increased branch capacity and efficient execution of technology and distribution investments.

The broader operating environment remains relevant. Transport activity, freight volumes, fleet utilisation and input costs can affect demand across the commercial vehicle aftermarket.

Supply disruptions can also create challenges. Supply Network noted that Middle East hostilities during the second half of FY26 increased diesel and lubricant costs and made some product sourcing and transportation more difficult.

However, commercial vehicles require ongoing maintenance regardless of short-term economic conditions, providing the aftermarket with recurring demand characteristics.

Final Takeaway

Supply Network’s FY26 performance reflected continued expansion of its Multispares platform, with total revenue reaching AUD 403.7 million and profit after tax increasing to AUD 47.6 million.

Importantly, growth remained broad across regions, customers and product categories while the company continued investing in distribution centres, technology and branch capacity.

For Supply Network (ASX:SNL), FY27 will centre on converting those investments into further organic growth. The planned expansion of Eagle Farm, Canberra, Toowoomba and Kwinana, together with closer Australian-New Zealand integration and upgraded operating systems, provides additional capacity for the business.

Execution against the approximately AUD 50 million revenue-growth target, operating efficiency and continued market-share development within the commercial vehicle aftermarket will therefore remain key areas for investors to monitor.