CAR Group Limited (ASX:CAR) operates digital vehicle marketplaces and related technology businesses across Australia, North America, Latin America and Asia. Its FY26 result showed Revenue and Earnings growth across each major region, while the company’s FY27 outlook points to another year of double-digit group growth in constant currency. The guidance is supported by expansion in marketplace products, dealer services, media, artificial intelligence tools and international operations.

FY26 revenue and earnings move higher

CAR Group reported proforma revenue of A$1.253 billion for FY26, representing growth of 12% in constant currency and 10% in Australian-dollar terms.

Proforma EBITDA reached A$700 million, up 12% in constant currency and 9% in Australian dollars. This produced a proforma EBITDA Margin of 56%.

Adjusted net profit after tax was A$407 million, while reported net profit after tax was A$314 million.

Adjusted Earnings Per Share reached 107.6 cents.

The difference between adjusted and reported profit reflects CAR Group's treatment of selected non-recurring and non-cash items when assessing operating performance. These include items associated with acquisitions, financing and acquired intangible assets.

Operating cash conversion was 100% during FY26, while the ratio of net Debt to proforma EBITDA was 1.7 times at the end of the period.

Global scale is becoming more important

CAR Group now operates a geographically diversified portfolio rather than relying primarily on its Australian carsales business.

Australia accounted for approximately 41% of group revenue during FY26, while North America represented about 26%. Asia contributed around 20% and Latin America about 12%, with the remaining contribution coming from investments.

Across its platforms, CAR Group reported approximately 2.4 million vehicles online at 30 June 2026.

Its marketplaces generated around 1.3 billion sessions during FY26 and reached an average monthly unique audience of approximately 52 million.

The group also had about 50,000 subscribed dealers and delivered around 23 million dealer leads during the year.

This international scale means future results increasingly depend on performance across several vehicle markets and currencies rather than developments in Australia alone.

Australia maintains growth in a mature market

Australian revenue increased 7% to A$519 million, while adjusted EBITDA rose 8% to A$345 million.

Dealer revenue increased 8%, supported by higher lead volumes, improved Yield and greater use of depth products.

Private-seller revenue increased 4%, with contributions from Instant Offer and pricing changes.

Media revenue rose 8%, supported by activity in the new-car market and Advertising from newer electric-vehicle brands.

Data, Research and Services revenue increased 5%, with customer Acquisition through Redbook contributing to growth.

These results show that the Australian operation is continuing to expand through a combination of product penetration, marketplace activity, pricing and additional services rather than relying solely on higher vehicle-listing volumes.

North America records double-digit constant-currency growth

CAR Group’s North American Business generated revenue of A$327 million during FY26.

Revenue increased 12% in constant currency, while adjusted EBITDA also increased 12% on the same basis.

Growth was supported by new products, increased penetration of premium dealer offerings, selected smaller acquisitions and higher customer yield across a relatively stable dealer base.

Media operations also expanded during the year.

The company continued developing its marine marketplace initiative, alongside its established recreational vehicle, powersports and truck businesses.

For FY27, management expects North American revenue to continue growing at a double-digit percentage rate in constant currency.

However, revenue growth is expected to exceed EBITDA growth because the company intends to continue investing in areas including marine operations.

Latin America remains a growth contributor

Latin America continued to expand during FY26, supported primarily by CAR Group’s Webmotors operations.

The region recorded double-digit revenue and earnings growth in constant currency.

Growth has been supported by expanding dealer relationships, higher customer yield, increased use of premium products and additional finance and media revenue.

CAR Group expects Latin America to remain a double-digit revenue growth business in FY27.

The company also expects Operating Leverage in the region, meaning earnings growth could benefit as revenue increases across the existing marketplace infrastructure.

Execution will depend on vehicle-market conditions, customer activity and continued adoption of higher-value products across the platform.

Asia expands through Encar products

CAR Group’s Asian operations also recorded double-digit growth during FY26.

The business is centred on Encar in South Korea, where revenue growth has been supported by marketplace products including Guarantee, Encar Home and Dealer Direct.

The company expects Asian revenue to grow at a double-digit rate again in FY27.

Revenue growth is expected to outpace EBITDA growth because management intends to continue investing in the Dealer Direct offering and related marketing.

This means the region is expected to expand while also carrying higher Investment expenditure as CAR Group develops additional transaction and dealer services.

Artificial intelligence becomes part of the product strategy

Artificial intelligence featured prominently in CAR Group's FY26 strategy.

The company has developed its own AI infrastructure using proprietary data gathered across vehicle listings, pricing, enquiries, transactions and consumer behaviour.

CAR Group is applying these tools to both consumer and dealer products.

AI-assisted search is being used to improve vehicle discovery, while dealer tools are being developed for inventory sourcing, pricing, merchandising and lead management.

The group is also using AI to automate selected operational processes, including listing descriptions, image enhancement and elements of vehicle inspection and quote assessment.

Its Nexgate platform is designed to help dealers manage sourcing, pricing and sales activity using marketplace information and predictive tools.

These initiatives are intended to deepen the role of CAR Group’s marketplaces in the broader vehicle transaction process rather than limiting them to advertising listings.

FY27 guidance points to double-digit growth

CAR Group expects FY27 revenue growth of between 11% and 14% in constant currency.

Adjusted EBITDA is expected to increase between 10% and 13%, while adjusted net profit after tax is forecast to rise between 9% and 12%.

Australia is expected to produce high-single-digit revenue growth.

North America, Latin America and Asia are each expected to generate double-digit revenue growth in constant currency.

The guidance indicates that international operations will remain important contributors to overall expansion.

However, management expects revenue growth to exceed EBITDA growth in North America and Asia because of continued investment in those businesses.

The FY27 outlook is dependent on factors including customer demand, broader economic conditions, inflation, geopolitical developments and movements in foreign exchange rates.

Currency remains an important factor

CAR Group earns a substantial portion of its revenue and profit outside Australia.

This means foreign exchange movements can create a difference between underlying operating growth in local currencies and the figures ultimately reported in Australian dollars.

FY26 illustrated this effect, with proforma revenue increasing 12% in constant currency compared with 10% in Australian dollars.

North America showed an even wider gap, recording 12% revenue growth in constant currency compared with 6% when translated into Australian dollars.

For this reason, CAR Group uses constant-currency measures when presenting much of its regional outlook.

The measure helps show underlying operating changes but does not remove the financial effect of exchange rates on reported group earnings.

What could shape FY27 performance?

CAR Group enters FY27 with growth expected across every major geographic region.

Australia will depend on dealer product penetration, private marketplace activity, media Demand and expansion of services such as Nexgate.

North American performance will be influenced by dealer yield, new products, media, marine expansion and the contribution from smaller acquired businesses.

Latin America is expected to benefit from dealer growth and broader monetisation across premium products, finance and media.

In Asia, Guarantee, Encar Home and Dealer Direct remain central to the growth strategy.

CAR Group will also continue developing AI-based products across its marketplaces, although the financial contribution of individual tools is not separately forecast.

The key measure during FY27 will be whether the group can deliver the expected double-digit revenue expansion while maintaining earnings growth as it continues investing in new products and international businesses.