WiseTech Global announces results for the first half of its 2018 financial year
21 / 02 / 2018
WiseTech Global saw year-on-year revenues surge by 31% to A$93.4m in the first six months of its 2018 financial year.
The supplier of cloud-based business solutions for the logistics industry enjoyed earnings before interest, taxation, depreciation and amortisation (EBITDA) at A$31.8m, an increase of 32%.
WiseTech’s flagship product, CargoWise One, is a single-platform software designed to increase users’ productivity and improve integration, automation, and communication within the supply chain.
A total of 24 out of 25 of the world’s top global freight forwarders are said to be WiseTech customers.
WiseTech chief executive Richard White said “The power and strength of our CargoWise One operations are reflected in their 100% recurring revenue, annual customer attrition rate of 1% and 46% EBITDA margin — all delivered while enlarging our geographic footprint and significantly expanding our pipeline of innovation to further build our leadership position.”
WiseTech continued a process of growth through acquisitions during the period under review. Over the course of the first half of its 2018 financial year, up to February this year, it made no fewer than 11 acquisitions across Brazil, Taiwan, North America, the Netherlands, Ireland and Belgium.
The company broadened its customer base and "delivered a large number of product improvements", including launching BorderWise, a global border compliance engine.
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