Carsales parent company, Car Group, has reported double-digit revenue and earning growth in all key markets, including a 41% lift in reported revenue to $1.099bn for the full-year to 30 June 2024.

The ASX-listed group reported EBITDA of $568 million for the full-year, up 42% year-on-year, and net profits of $250m, up 61% based on reported revenue.

The financial results include proforma revenue of $1.099bn, up 17% on the prior corresponding period. CAR Group acquired all of Trader Interactive 18 months ago for $1.2bn and purchased an additional 40% stake in webmotors last year for $353m, bringing its total share up to 70%. The group recognised a $487m gain on acquisition of the two businesses.

In Australia, Car Group reported good revenue and adjusted earnings growth of 13% respectively. Dealer revenue was up 12% thanks to solid demand for used cars and increasing adoption of higher value products, particularly depth. On the private sale front, the company cited increasing share of the private ad market supported revenue growth of 10%. Dynamic pricing optimisation supported further yield uplifts, and Instant Offer continues to scale.

On the media side, Car Group said further diversification into non-auto markets and continued development of new advertising technology and products resulted in 20% revenue growth.

Internationally, North American operations reported a 16% increase in Proforma Revenue and Proforma EBITDA was up 18%, 13% and 15% respectively on a constant currency basis. Asia delivered revenue growth of 17% and adjusted EBITDA growth of 13% on pcp, 15% and 11% respectively on a constant currency basis.

CAR Group's EBITDA margin was 53%, slightly higher than pcp. For FY25, the group expects to deliver good growth in Revenue, Adjusted EBITDA and Adjusted NPAT on a constant currency basis with similar adjusted EBITDA margins.

CAR Group CEO, Cameron McIntyre, said it has had another great year.

"We have achieved excellent financial results in FY24 with double-digit revenue and earnings growth in all of our key geographies. This is a great outcome and reflects the strength of the business model as well as its resilience given a more challenging operating environment in some of our markets," he said.

McIntyre also highlighted the company's recent acquisitions, "Our recent acquisitions in Brazil and the United States are performing very well, and we are confident these businesses will continue to drive significant long-term value for shareholders. Our first year as the majority owner of webmotors in Brazil has been outstanding. Aside from delivering exceptional performance outcomes, our partnership with Santander is stronger than ever. In North America, we delivered excellent results by investing in growing our audience and improving our technology."

McIntyre further emphasised the value of CAR Group's data and technology, "Our data and technology provide real value for our customers. As the vehicle transaction process becomes increasingly digital, we see great potential to deliver even better outcomes for our customers.

"In media, we are leveraging new technology and IP across the Group, leading to improved advertising viewability, yield, and consumer experience. Our dynamic pricing engine has successfully increased private ad yields in both the US and Brazil following its implementation in those markets."

As to its FY25 Outlook, the group is expecting to deliver good growth in Revenue, Adjusted EBITDA and Adjusted NPAT on a constant currency basis with similar adjusted EBITDA margins in FY25.

In Australia, it said it expected good growth in Dealer revenue supported by growth in lead volumes, depth and yield, while in the private sales space, it anticipates solid revenue growth supported by dynamic pricing optimisation and Instant Offer growth. Media is also expected to continue delivering results, supported by continued expansion of our native ad products, programmatic capability and non-automotive diversification.

"We have multiple levers to deliver future growth. With a strong balance sheet and conservative leverage, we are well-positioned to invest in technological innovation and deliver great outcomes for our customers. Our momentum gives us confidence in our ability to continue to grow the business over the coming years," McIntyre concluded.