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Company News Summary

Wisetech Global Continues Strong Growth, Revenue Up 31%, EBITDA Up 29%

19 Feb 2020  |  10:39:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: WTC continued strong growth, revenue up 31%, EBITDA up 29%

Wisetech Global announced that revenue from customers on acquired platforms increased by $24.9m, primarily driven by the full period impact of acquisitions completed in FY19. It buys strategic assets in the form of software companies and specialist technology teams. These bring additional skills, increase speed to market and access to IP to converge with its own technology. The Company delivered EBITDA of $62.5m for 1H20 (almost doubled since 1H18) with a healthy margin of 30% including its acquisitions. EBITDA margin excluding acquisitions was stable at 49%, as it continues to see the benefits of its disciplined and highly efficient commercial model for its core CargoWise business.

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