Carsales.com.au announces some strong profit growth
Carsales.com.au (the leader in the Australian auto classifieds online market – a market in which we compete) has recorded a strong growth in revenue(up 62% to $46.2mil) and EBITDA up 99% to $17.1mil.
This resulted in a reported net profit of $11.8million for the financial year.
“This year has seen significant growth in all core areas of the business and our lead as Australia’s number one automotive website has increased substantially,” said Greg Roebuck, managing director at Carsales.com.au.
It was a big year for them as they grew their market leadership and also acquired Discount Vehicles Australia (which I reported a little on here).
This acquisition would have certainly added some revenue growth for them, and boosted their new car lead position in the market.
“Our recent acquisition of Discount Vehicles Australia further extends our market position in particular in the new car area. The strong management team and continued focus from the entire staff has allowed us to grow the business whilst ensuring that our key requirement of helping our customers to ‘stop advertising and to start selling’ is achieved.”
Carsales are clearly at the top of the pile with about 1.5mil unique visitors per month, and nearly 100 million page views. It is going to take some effort by the big media players to catch them up.
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