PXA +4.7%: PEXA Group rose as much as 9.9%, the most since July, after the Australian property exchange 1H EBITDA beat analyst expectations.
1H26 Highlights
- Revenue of $215.3mn, +9.9% YoY.
- Net loss of $14.3mn, v $32.7mn loss YoY.
- Group EBITDA from continuing operations of $85.8mn up 19% YoY.
- EBITDA margin increased 3.1% to 39.9%.
- Free cash flow increased 25% to $40.2mn.
- No dividend was declared.
This was a robust 1H result from the digital infrastructure business driven by record Australian transaction volumes, including a peak of 41,000 daily settlements in December 2025. Cost optimisation initiatives reduced local expenses by 2.6% and are expected to generate more than $10 million in annual savings. In the UK, volumes continued to recover, with sale and purchase transactions up 15% and remortgages rising 24%, alongside progress onboarding major lender NatWest and expanding services to conveyancers. The group also strengthened its balance sheet, repaying $25 million in debt as part of a broader capital management focus.
MM is long and bullish PEXA Group (PXA) around $15
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