That was on the back of a whopping 57 percent increase in revenue to $95 million. Blog; About Deven; Archive for the 'Novated Leases' Category Next Entries » Video update: 2011 Federal Budget Published May 11, 2011 2011-12 Budget, Business Update, Carbon Emissions, Customer Updates, Henry tax review, Legislative Changes, Novated Leases … “As the pandemic took effect, we moved quickly to focus on providing high quality service to our customers remotely and implementing cost containment measures,” said CEO Tim Looi, in a statement to the Australian Stock Exchange, adding, “This, combined with our simplification program, resulted in a good operational and financial performance for the year.”. Smartgroup reported novated leases under management fell 3% to 66,700 compared with the year earlier. We believe this is an opportunity to buy Smartgroup at an attractive price (11 times free cash flow, 6% dividend yield). Smartgroup is a public company listed on the Australian Securities Exchange, and is one of Australia’s most experienced providers managing over 340,000 salary packages and over 85,000 novated leases. Smartgroup generates revenue by administrating salary packaging on behalf of employers that offer it and through novated leases. News & Announcements; Awards; Who We Help. “For the next 12 months, we will be focused on enhancing customer experience to build loyalty, as well as improving our digital capabilities to reduce our cost to serve,” Smartgroup said in its profit report. A 14% decline in novated lease volumes was the key driver of lower revenue in 2020. We’ll work with you to build an effective program, and fully mange its administration, keeping you free to spend more time on other meaningful work. Read more about Smartgroup » … Deven Billimoria's Blog. The company manages 360,500 packages, with organic growth of some 1,500 packages in 2020. Smartgroup has made another acquisition (the 10th since 2001) by entering into an agreement to acquire 100% of Autopia for $36 million. We welcome our new customers and look forward to supporting your employee benefits program through our specialist providers. The number of fleet vehicles under management increased 4 percent to 24,900 on the year earlier. A novated lease allows an employee to pay for their car lease out of their pre-tax dollars (thereby earning a tax break). In addition, he said that novated leasing leads were 15% higher in January 2021 than their monthly average during the second half of 2020. SUVs and utes dominate the private-buyer choices as hatchbacks disappear. One of its main segments is novated leasing, which allows employees to lease their car through their employer and pay down lease payments with pre … ... Novated lease yields were 2% lower than H1 2019 due to an increase in the proportion of customers refinancing their lease, generally for a further 12-24 months, rather than starting a lease on a new vehicle. Smartgroup Corp., a listed fleet management, novated leasing and employee management services group, posted declines in revenue and profit for the full year ended Dec 31, citing the challenging economic conditions brought in by COVID for the drops, particularly on its novated leasing business. Novated leasing in a nutshell A novated lease is one of the most cost effective and easiest ways to buy and run a car, and you don’t need to be earning a huge salary! Phone: +61 1300 554 474 (toll free within Australia) Email: [email protected] Fax: +61 2 9287 0303 Fax: +61 2 9287 0309 (for proxy voting) “Our simplification program continues to remove complexity across our business. Chief executive Deven Billimoria joined the company in 2000 and became CEO in 2002. Smartgroup operates through a portfolio of brands including … Profit after tax fell 20 percent to $65.2 million for the year, and revenue fell 13% to $216.3 million, compared with the year earlier. “Our simplification program continues to remove complexity across our business. In addition, yields fell 6%, resulting from both a shift towards customers refinancing their existing vehicles, rather than leasing new vehicles, and the previously announced insurance partner re-pricing effective 1 July 2020, Smartgroup reported. The number of fleet vehicles under management increased 4 percent to 24,900 on the year earlier. Not for Profits; Healthcare providers; Corporate Organisation; Government Sector; Education Providers; What We Do. Smartgroup has grown. Looi said the group is off to a good start in 2021. Find out how it works. Smartgroup, one of Australia’s four listed fleet management and novated lease providers, posted a rise in full-year revenue and profit and said it’s still keen on acquisitions to expand. Smartgroup companies are leading providers of novated leasing across all sectors, from corporate to government, and not-for-profits, with specialist teams to meet the unique needs of organisations (and their employees). Smartgroup’s novated leasing customers have been offsetting their vehicle emissions with Greenfleet for over 12 years. This is a slowing from … Smartgroup is pleased to announce the acquisition of Autopia, a highly-regarded novated leasing specialist servicing the corporate sector. Smartgroup reported novated leases under management fell 3% to 66,700 compared with the year earlier. “Smartgroup continues to grow salary packages and novated leases both organically and through acquisition,” the company said in a report to the Australian Stock Exchange. decline in novated lease volumes was the key driver of lower revenue in 2020. Some of Australia’s largest employers choose us again and again and again. Most of them were diesel dual-cab utes fitted with adventure accessories included in the novated lease. More recently, the stock price has increased six-fold while the company's paid a growing stream of dividends since the company listed at $1.50 in July 2014. Smartgroup is also forecasting a number of salary packages and novated leases under management in line with the first half of 2020. Or simply contact us now, and we’ll be in touch. By Neil Dowling on 26th March 2021 Free Access Articles, News Fleet, Novated Lease Vehicles. The results were in line with guidance provided by the company earlier in the year. View the infographic below, to learn more about how novated leasing compares to other forms of finance. The number of fleet vehicles under management increased 4 percent to 24,900 on the year earlier. We attribute our growth to an unwavering commitment to making novated leasing simple for all our customers, both employers and employees. We asked our customers to join us on Facebook and tell us why they love their novated lease, here's what they said! The new Genesis G80 luxury sedan – we drove it at the launch last year, 2020 Toyota Hilux SR5 – We take it off-road, Honda HR-V RS – Double-depth cup holders are the must have accessory. Fully Maintained Novated Lease… Smartgroup has made another acquisition (the 10th since 2001) by entering into an agreement to acquire 100% of Autopia for $36 million. Let’s start by aligning you with your Smartgroup industry specialist. Blog; About Deven; Archive for the 'Novated Leases' Category Celebrating 60,000 Smartleases Published November 30, 2015 Announcement, Business Update, Novated Leases Closed “This is my first novated lease. The novated leasing and salary packaging group posted a 63 percent increase in net profit to $30.3 million for its first half, the six months ended June 30. As a new or existing Advantage customer, you have access to the Smartleasing products, highly competitive pricing and advance technology service solutions. As the pandemic took effect, we moved quickly to focus on providing high quality service to our customers remotely and implementing cost containment measures,” said CEO Tim Looi, in a statement to the Australian Stock Exchange, adding, “This, combined with our simplification program, resulted in a good operational and financial performance for the year. Smartgroup reported novated leases under management fell 3% to, compared with the year earlier. Smartgroup posted a 46 percent surge in net profit after tax to $64.1 million for the year ended December 31, compared with a year earlier. Can novated leasing be cheaper than a car loan or cash? Smartgroup brands include smartleasing, smartfleet, and Autopia. Smartgroup operated much of 2020 with reduced client on-site activities, traditionally a strong channel that generates interest and demand for our services. We recently established a position in Smartgroup, a novated lease and salary-packaging company. 4th generation Kia Carnival – How does it drive? FAN estimates that Summit Fleet Lease have 40,000, ORIX have 35,000 and Fleetcare 30,000 vehicles all split between novated leases, fully maintained operating leases and fleet managed. Smartgroup is a public company listed on the Australian Securities Exchange, and is one of Australia’s most experienced providers managing over 340,000 salary packages and over 85,000 novated leases. A similar number of contracts are up for renewal in 2021. In addition, yields fell 6%, resulting from both a shift towards customers refinancing their existing vehicles, rather than leasing new vehicles, and the previously announced insurance partner re-pricing effective 1 July 2020, Smartgroup reported. Smartleasing customers include the Department of Defence, WA Health, Queensland Government and Westpac. A novated lease allows users to easliy switch to a new car every three to five years. One provider, maximum employee benefits Top 10 novated lease vehicles for 2020. Who is Smartgroup? We tailor our admin to fit yours, from traditional invoicing to fully-integrated systems that simplify processing for your payroll team and salary-packaging employees. ... Smartgroup general manager of vehicle operations Craig Adamson said vehicle supply might change how the top-10 list looks in 2021. Manage or increase the budget for your car via your online account. The repayments are taken out of your pre-tax income every pay cycle in agreed repayments, and you can save GST on the purchase price of the vehicle if new. And this is how long-time CEO and managing director Deven Billimoria will leave the company to his successor Tim Looi, presently chief financial officer. “For the next 12 months, we will be focused on enhancing customer experience to build loyalty, as well as improving our digital capabilities to reduce our cost to serve,” Smartgroup said in its profit report.

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