Eagers Automotive (ASX: APE) eyes additional AUD 1bn in revenue in FY24

Thu 09 May 24, 03:13 AM | Team Kalkine

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Highlights

Eagers Automotive is engaged in selling new and pre-owned motor vehicles, distributing and selling parts, accessories, and car care products

In FY23, APE’s revenue increased by 15% YoY to AUD 9,851.7 million

In 2024, the company expects to report revenue growth of nearly AUD 1.0 billion

Eagers Automotive Limited (ASX: APE) is in the business of selling both new and pre-owned motor vehicles, distributing and selling parts, accessories, and car care products, offering vehicle repair and servicing, providing extended warranties, and managing property and investments.

In the financial year 2023 (FY23) ended 31 December 2023, revenue of the company grew by 15% YoY to AUD 9,851.7 million, driven by contribution from acquired businesses in the South Australia and Australian Capital Territory. EBITDAI during the period stood at AUD 688.5 million and statutory profit after tax dropped to AUD 299.1 million, driven by higher finance costs.

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