Highlights

  • Half-year 2026 Revenue reached A$8,053.5 million and underlying operating profit before tax was A$250.4 million.
  • CanadaOne contributed A$1,036.1 million of revenue and A$40.5 million of profit before tax during its first two months in the group.
  • Net Debt stood at A$674.9 million, while cash was A$1,165.2 million and total Liquidity was A$2,610.9 million.
  • The board declared a fully franked Interim Dividend of 25.0 cents per share, paid in September 2026.
  • Management is focused on integrating the Canadian platform while continuing disciplined expansion in Australia and North America.

Eagers Automotive Limited (ASX:APE) is an automotive retail group operating across Australia, New Zealand and Canada, with activities spanning vehicle sales, finance and insurance, parts, service and property. In the six months to 30 June 2026, the company became materially larger after acquiring a 65% interest in CanadaOne Auto Group, making Canada a central part of its 2026 Earnings mix.

CanadaOne lifts revenue and profit scale

For the half year, revenue was A$8,053.5 million and underlying operating profit before tax was A$250.4 million. Underlying EBITDA was A$364.6 million, statutory profit before tax was A$243.1 million and net profit after tax was A$165.2 million. CanadaOne, acquired on 30 April 2026, contributed A$1,036.1 million of revenue and A$40.5 million of profit before tax during its first two months. Eagers also acquired Audi Melbourne and Audi Richmond in May 2026.

Balance sheet changes reflect Acquisition funding

The expansion materially changed the balance sheet. Net debt was A$674.9 million, cash was A$1,165.2 million and total liquidity A$2,610.9 million. The property portfolio was carried at A$1,623.3 million. CanadaOne also added approximately A$2.1 billion of goodwill. Management reported gearing of 0.72 times on a basis that annualised CanadaOne earnings.

Dividend maintained alongside expansion

The board declared a fully franked interim ordinary dividend of 25.0 cents per share, paid on 18 September 2026. The Dividend reinvestment plan did not apply. The company also had an on-market buyback authority, but only 1,500 shares were repurchased for A$30,000 during the period, showing that 2026 Capital deployment remained focused on acquisitions, liquidity and operations.

Operating model now spans three countries

Eagers earns from vehicle sales, finance and insurance commissions, parts, servicing and property. CanadaOne expands that model into a new geography and adds exposure to Canadian vehicle supply, consumer Credit conditions and currency movements. In Australia, the company reported new-vehicle Market Share of 15.9% in the first half of 2026.

Integration and debt are key 2026 watch points

The enlarged group now has more integration work to complete. CanadaOne introduces execution, funding and foreign-exchange considerations alongside the existing Australian and New Zealand operations. Higher net debt increases sensitivity to borrowing costs, while the larger Goodwill balance remains subject to Impairment testing. Management has not provided numerical earnings guidance, instead pointing to continued optimisation and disciplined growth across Australia and North America.

Key Insights

Eagers Automotive's 2026 half-year result shows a Business that increased revenue, operating profit and geographic reach through acquisition. CanadaOne contributed materially despite only two months in the period, but the deal also raised net debt and goodwill. The next phase is about showing that the enlarged group can convert scale into consistent earnings and cash generation.