EL7.AI
Mergers & AcquisitionsMedium•15 November 2026•
3 min read

FleetPartners records A$902 million in new business in 2026

Key Facts

1New business reached A$902 million in fiscal 2026, up 16%, or 18% excluding the foreign-exchange effect.
2Adjusted net profit before end-of-contract income rose 10% to A$45 million, while total adjusted net profit fell 5% to A$80 million.
3End-of-contract income fell 19% to A$49.1 million as demand for used cars weakened amid higher fuel prices.
4New business in the salary-packaging leasing segment rose 35% in fiscal 2026 and 75% in the second half.

FleetPartners said it recorded A$902 million in new business in fiscal 2026, up 16% from the corresponding period. Growth rose to 18% excluding the effect of foreign exchange rates, according to coverage of the company’s results. The metric measures new business secured by the company, setting its operating growth against declines in some profit items. Adjusted net profit before end-of-contract income rose 10% to A$45 million. By contrast, total adjusted net profit fell 5% to A$80 million, while reported net profit declined 6% to A$70.9 million.

End-of-contract income was one factor weighing on results, falling 19% to A$49.1 million in the fiscal year. Coverage of the results attributed the decline to higher fuel prices, which weakened demand for used internal-combustion vehicles. It said, "Income from selling cars at the end of leasing contracts fell 19% to A$49.1 million, as higher fuel prices weakened demand for used cars." This reflects the divergence between new-business growth and revenue from selling vehicles after lease contracts expire. As a result, adjusted profit rose when end-of-contract income was excluded, while total and reported profit measures declined.

The salary-packaging leasing segment grew faster than the overall business, with new business up 35% in fiscal 2026 and 75% in the second half. Coverage of the results linked some of this momentum to the company’s acquisition of Remunerator, which was completed in December 2025. The second-half performance points to accelerating growth in the segment during the year, while overall new-business growth remained below its rate after excluding the foreign-exchange effect. On the transaction, the FleetPartners board unanimously recommended that shareholders vote in favour of the acquisition scheme, subject to the specified conditions and with the independent expert continuing to view the deal as being in shareholders’ best interests. The scheme allows for a final distribution for fiscal 2026 of up to A$0.14 per share and a special distribution of up to A$0.12 per share; any cash distribution reduces the scheme consideration, while franking credits attached to distributions remain with shareholders.

The agreement followed a competitive process involving ORIX, a consortium led by Sumitomo and Canada’s Element Fleet, which withdrew its bid. Revised offers preceded the agreement on 14 September 2026, with SG Fleet offering A$4.55 per share, compared with A$4.65 per share in the ORIX and Sumitomo consortium offers. After the deal was announced on 19 October 2026, FleetPartners shares rose as much as 7.8%, reaching a record A$5.140. For fiscal 2027, the company forecast underlying income growth broadly in line with average assets under management and funded, with the underlying income margin broadly stable. It also expected end-of-contract income per unit to be below its fiscal 2026 level.