Highlights

  • McMillan Shakespeare provides salary packaging, novated leasing, vehicle finance and related services.
  • FY2026 Revenue increased to A$602.1 million and underlying net profit after tax reached A$107.9 million.
  • Novated leases under management increased to 90,000 during FY2026.
  • Battery electric vehicles represented 57 per cent of new novated Lease sales in FY2026.

McMillan Shakespeare Limited (ASX:MMS) provides salary packaging, novated leasing, asset and fleet management, vehicle finance and disability plan management services across Australia and New Zealand. The company operates through brands including Maxxia, RemServ, Onboard Finance, Interleasing, Just Honk, Plan Partners and Plan Tracker.

Recent Development

McMillan Shakespeare reported FY2026 results on 28 August 2026. Revenue increased 6.8 per cent to A$602.1 million, EBITDA increased 14.1 per cent to A$180.7 million, and underlying net profit after tax and Amortisation rose 13.8 per cent to A$107.9 million. Statutory net profit after tax was A$106.7 million.

Business Operations

The company serves public sector, corporate and charitable employers through salary packaging and vehicle-related services. Its novated leasing operations have continued to expand, with battery electric vehicles becoming a larger component of new lease sales.

Operational Position

During FY2026, novated leases under management increased 13.5 per cent to 90,000. Battery electric vehicles accounted for 57 per cent of new novated lease sales compared with 31 per cent in FY2025. Onboard Finance receivables increased 16.6 per cent to A$587 million.

Key Factors to Monitor

Future company updates may provide information on novated leasing activity, vehicle market conditions, policy settings affecting electric vehicle leasing and the performance of the Onboard Finance receivables portfolio.

Risks

The company's operations are influenced by government policy settings, including arrangements affecting salary packaging and low-emission vehicle leasing. Credit performance, vehicle values and competitive conditions may also affect operations.

Key Insights

McMillan Shakespeare's FY2026 results highlight the contribution of novated leasing and related services to its operating performance. Future disclosures will provide further information on customer activity, policy developments and financial outcomes.