WiseTech Global (ASX: WTC) has delivered an impressive first-half FY25 result, with strong revenue growth, rising margins, and continued expansion in its CargoWise platform. The company’s “3P strategy”—Product, Penetration, and Profitability— remains central to its performance, helping drive 17% total revenue growth and a 28% jump in EBITDA.
H1 FY25 Key Highlights
- Total revenue: $381 million (+17% YoY)
- CargoWise revenue: $331.7 million (+21% YoY)
- EBITDA: $192.3 million (+28% YoY), with margins expanding 5 percentage points to 50%
- Underlying NPAT: $112.1 million (+34% YoY)
- Operating cash flow: $202.7 million (+24% YoY)
- Interim dividend: 6.7 cents per share, up 31%
CargoWise Leads the Way
CargoWise continues to be the engine of WiseTech’s growth, delivering 21% revenue growth. This was driven by large-scale rollouts with global freight forwarders (LGFFs) and new customer wins, including Nippon Express and LOGISTEED.
The company also made key strategic acquisitions, including BSM Global and ImpexDocs, to strengthen CargoWise’s digital documentation capabilities.
New Product Launches and Expanding Innovation
WiseTech remains committed to product innovation, launching CargoWise Next and ComplianceWise, with Container Transport Optimization expected to debut in H2 FY25 in Australia.
R&D investment rose 18% to $137 million, accounting for 36% of total revenue. This funding supported 612 new product enhancements in H1 alone, underscoring the company’s long-term commitment to improving its logistics technology platform.
Strong Profitability and Cost Efficiency
WiseTech’s cost efficiency program exceeded expectations, delivering $36 million in annual run-rate savings. This helped push EBITDA margins up to 50%, while the company’s cash flow generation remained strong, with free cash flow up 22% to $124.1 million.
Looking Ahead
With a robust balance sheet, high-margin growth, and expanding global penetration, WiseTech remains well-positioned for continued success. CEO Andrew Cartledge emphasized the company’s strategic focus on scaling CargoWise, driving innovation, and maintaining strong financial discipline to ensure sustainable growth.
The interim dividend of 6.7c per share, up 31%, reflects WiseTech’s confidence in its trajectory. With major product rollouts and ongoing market penetration, the company is on track for another strong performance in the second half of FY25.
