WISETECH Global saw increases in revenue and profit in the 2022-23 financial year.

The company’s total revenue for the 12 months ended 30 June was $816.8 million, up 29% on revenue reported in the previous financial year.

Its statutory NPAT of $212 million was up 9% on last year’s results and its underlying NPAT of 247.6 million was up 30%.

WiseTech founder and CEO Richard White said the company’s FY23 results reflected an expansion of its product offering, ongoing financial discipline and enhanced operating leverage.

“This is down to the exceptional WiseTech team; their passion, dedication and work ethic,” Mr White said.

“We are driving enormous value for our customers, validated this year with the signing of our first global customs and compliance rollout with the world’s largest global freight forwarder, Kuehne+Nagel.

“This momentum continued after year end with FedEx confirming they intend to roll out global customs alongside their ongoing global forwarding rollout.”

Mr White said the company’s move into landside logistics was delivering “breakthrough capabilities” and significant growth opportunities.

“We have also accelerated our development capability over the year, growing our product development team from just over 1000 team members at the beginning of FY23 to now over 1800.

“This incredible growth means that 60% of our global team is now focused on accelerating our product development.

“Our vision is to be the operating system for global logistics, and we have made significant progress in realising that vision with the release of our CargoWise Warehouse Suite and CargoWise Neo.”

WiseTech provided its FY24 guidance on the basis that market conditions do not materially change, and that it reflects current trends in supply chain volumes.

The company anticipates FY24 revenue of $1,040 million to $1,095 million (representing revenue growth of 27% to34%) and EBITDA of $455 million to $490 million (representing EBITDA growth of 18% to 27%).  

Mr White said he was excited about the opportunities ahead for WiseTech.

“We are exactly where we planned to be as we head into FY24,” he said.

“Our goal is to drive innovation within the CargoWise ecosystem, so that it is a must have for large global forwarders and logistics operators.

“Looking ahead, our strong balance sheet and cash generation provide us with significant financial firepower to fund our future growth.”