WiseTech Global Ltd. (WTC.AX,WTCHF), a developer of logistics execution and supply chain management solutions, on Wednesday reported lower profit in its first half of fiscal 2026, while EBITDA climbed with strong growth in revenues. Further, the firm maintained its forecast for fiscal 2026.
WiseTech further announced the next phase of its efficiency program, expecting to reduce teams by up to 50 percent in terms of headcount. The program is likely result in a reduction of approximately 2,000 roles in fiscal 2026 and fiscal 2027.
In Australia, the shares were gaining around 11 percent, trading at A$47.71.
The company said the new phase of the efficiency program will start in the second half of fiscal 2026 and continue into fiscal 2027, and will reduce teams, initially product & development and customer service headcount across the company, including e2open. The other functions will be in scope from fiscal 2027.
The program is part of WiseTech's long-term strategic focus on higher-margin recurring revenue, and its commitment to building a higher-performance culture.
Excluding the impacts of the up to 50 percent headcount reduction in product & development and customer service, the company continues to expect fiscal 2026 revenue in the range of $1.39 billion to $1.44 billion, representing revenue growth of 79 percent-85 percent year-over-year, and EBITDA of $550 million to $585 million, a growth of 44 percent-53 percent. EBITDA margin would be 40 percent to 41 percent, down 8 to 9 percentage points from last year.
Reflecting its confidence in the Company's underlying business performance and outlook, the Board has determined a fully franked interim ordinary dividend of 6.8 cents per share, representing a 1 percent increase from last year. The interim dividend is payable on April 10 to shareholders registered as at March 16.
In the first half, net profit dropped 36 percent to $68.1 million from last year's $106.4 million. Basic earnings per share were 20.4 cents, lower than 32.0 cents a year ago.
Underlying net profit was $114.5 million, compared to $112.1 million last year. Underlying earnings per share were 34.3 cents, compared to 33.7 cents a year ago.
EBIT remained nearly flat at $149.6 million, while EBITDA climbed 31 percent year-over-year to $252.1 million. EBITDA margin dropped 13 percentage points to 38 percent.
Total revenue surged 76 percent to $672.0 million from $381.0 million last year. CargoWise revenue grew 12 percent to $372.4 million.
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