Company Interview / Smartgroup driving growth amid EV boom

Key points:

Smartgroup (ASX: SIQ) reports a 22% rise in revenue and a pre-tax profit of $108M.Rapid EV market growth, Smartgroup offers 78 models from various manufacturers.Divestment and brand consolidation for streamlined operations.

Jason King of Smartgroup shares insights on the company's recent performance, reporting a pre-tax profit of nearly $108 million and a 22% revenue increase. Smartgroup's key business areas—innovative leasing, salary packaging, and fleet—show broad-based growth.

Jason notes the rapid maturity of the EV market, with 78 EV models from multiple manufacturers now featured on their website. While some EV incentives are ending, Smartgroup continues to offer competitive leasing options, foreseeing sustained interest in both electric and combustion vehicles.

Focusing on core operations, Smartgroup has streamlined its business by divesting subscale units and consolidating brands under the Smart brand. Amid interest rate questions, Jason highlights salary packaging as a strategic offering to maximise consumers' take-home pay.