Key Highlights

  • Smartgroup (ASX:SIQ) closed at $11.14 on 6 November 2026, down 2.45%, while the S&P/ASX 200 Industrials index fell about 0.02%.
  • H1 2026 Revenue rose 13% to $179.5 million and operating EBITDA rose 16% to $73.8 million, with an EBITDA Margin of 41%.
  • The board declared an interim fully Franked Dividend of 21.5 cents per share, up 10%.

Smartgroup Corporation Ltd (ASX:SIQ) closed at $11.14 on 6 November 2026, down 2.45% for the trading session. The S&P/ASX 200 Industrials index (XNJ) closed at 8,421.00, down 1.80 points or about 0.02% over the same session. The S&P/ASX 200 finished at 9,020.80, up 0.49%, and the All Ordinaries closed at 9,144.70, up 0.66%. Smartgroup is a leading employee services and fleet solutions provider, with novated leasing and salary packaging at the centre of its business.

Latest Developments

H1 2026 Half-Year Results (27 August 2026)

Smartgroup released its results for the six months to 30 June 2026 on 27 August 2026. Revenue rose 13% to $179.5 million, and operating expenses increased 12% to $100.6 million. Operating EBITDA was $73.8 million, up 16%, with the EBITDA margin expanding one percentage point to 41%.

NPATA and statutory NPAT were each $42.4 million, up 11%. Novated leasing settlements rose 17%. The company reported a Return on Equity of 31% after tax, which it described as stable, and net Debt at 0.2 times EBITDA.

Interim Dividend and Capital Expenditure (27 August 2026)

The board declared an interim fully franked dividend of 21.5 cents per share, up 10%. Capital expenditure for calendar 2026 is expected to be between $13 million and $15 million.

Managing Director and CEO Scott Wharton said the company had strengthened its market position and grown its customer base over the past 12 months. The release said battery electric vehicle new-vehicle orders rose 162% and accounted for 68% of orders in the period.

About the Company

Smartgroup provides novated leasing, salary packaging and fleet solutions to employees and employers. Under novated leases, employees Lease a vehicle through their employer and pay for it from pre-tax salary, and the company earns fees across the arrangement.

Sector Context

The novated leasing market is closely tied to the vehicle market and to the tax treatment of salary packaged vehicles. The release noted that international factors appeared to bring forward some purchasing decisions, contributing to elevated activity during the half. Electric vehicle Demand has been an important driver of recent growth.

Risks to Watch

The company said some international factors may have accelerated purchasing decisions during the half, which could affect activity in future periods. Demand for electric vehicles and the broader vehicle market can change, and the tax settings that underpin salary packaging may also be reviewed.

Competition in employee services and fleet management could pressure fees and margins over time.

Catalysts on Watch

Future updates on novated leasing settlements, electric vehicle orders and the company's platform developments will be relevant to investors following the stock. The Interim Dividend and any capital management updates will also be of interest.

Closing Remarks

Smartgroup reported record half-year results, with strong growth in revenue, EBITDA and dividends. Its shares closed at $11.14 on 6 November 2026, down 2.45%. The company's next updates will show whether activity levels from the half continue into the second half.