WiseTech Global soars to new heights with record growth

CEO’s growing wealth

The surge has further boosted founder and CEO Richard White’s wealth, making him a billionaire. White, who owns 39% of WiseTech, saw his stake increase by approximately $3 billion over two days.

FY24 performance overview

For FY24, WiseTech posted a 28% rise in revenue to $1.04 billion, slightly below estimates. CargoWise revenue increased by 33% to $880.3 million.

EBITDA increased by 28% to $495.6 million, and underlying NPAT rose 15% to $283.5 million, surpassing the consensus estimate of $265.7 million. WiseTech’s final dividend payment was increased by 10% to 9.2 cents per share, reflecting a 20% payout ratio.

Forecasted revenue growth

For FY25, revenue is projected between $1.3 and $1.35 billion, representing an annual growth rate of 23.9%. This is significantly higher than the Australian market average of 12.3%.

It is being fueled by expected strong demand for its logistics software solutions from major clients such as DHL and FedEx.

Projected revenue growth from 2024