Eclipx Group Ltd. ( (ECXXF) ) has released its Q4 earnings. Here is a breakdown of the information Eclipx Group Ltd. presented to its investors.
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FleetPartners Group Limited is a leading provider of fleet management services in Australia and New Zealand, offering vehicle acquisition, leasing, and novated leasing services. The company recently released its financial report for the year ended 30 September 2024, showing a mixed performance across various segments.
The report highlights a slight increase in net operating income, driven by new business writings and a higher lease book. The novated leasing segment showed significant growth due to increased demand for electric vehicles, while the Australia Commercial segment faced challenges with decreased earnings before interest, taxes, depreciation, and amortization (EBITDA). Operating expenses rose mainly due to higher employee costs.
FleetPartners reported a net profit after tax of $77.9 million, down from the previous year, influenced by factors like higher bad and doubtful debts and expenses. The company also executed a share buy-back program worth $59.4 million and continued its strategic ‘Accelerate’ program aimed at efficiency and cost savings.
Looking ahead, FleetPartners remains focused on its strategic objectives and anticipates further growth in new business writings and assets under management or financed, while addressing key risks such as residual value settings and funding challenges. The management is committed to executing its strategy and enhancing shareholder value.
