Gumtree Markets Australia, which operates the country’s leading horizontal marketplace, reported a sharp improvement in full-year earnings from its core classifieds business after selling its Capital Markets unit. 

The company posted group revenue of AUD74.4 million ($48.5 million U.S.) for the 12 months to June (FY2025), down 8% year on year (y-o-y). Group EBITDA nearly doubled year-on-year to AUD6.0 million ($3.9 million U.S.), with growth in its motors segment more than offsetting weaker demand for display ads.

In June, Gumtree sold its Capital Markets division, which included the stock-trading forums HotCopper and StockHouse and financial news site the Market Online, for AUD6.8 million in cash, allowing it to sharpen its focus on classifieds. Following the sale, Gumtree closed its Perth office, with all staff now based in Sydney.

Chief executive Tommy Logtenberg said that focusing on the classifieds marketplace, alongside cost savings from systems migration, would support higher profitability. “The simplification of the investment story and the focus on the exciting online marketplace sector, with higher profitability levels, are expected to deliver superior results,” he told shareholders. 

The company’s core classifieds business delivered EBITDA of AUD9.3 million, up 32% y-o-y, while net profit more than doubled to AUD3.4 million from AUD1.5 million in FY2024. That improvement, led by listings growth at the motors business and new transactional products, helped narrow the group’s net loss to around AUD100,000 in FY2025 from AUD2.4 million in FY2024. 

Motors revenue — which includes the AutoTrader Australia and CarsGuide verticals — climbed 6% on higher listings and product rollouts, partly offset by softer advertising markets. It is also trialling a joint venture in New Zealand’s auto classified market with media company NZME.

The company expects EBITDA to grow by 20% y-o-y to AUD7.2 million in FY2026 as lower office expenses and the completion of a systems migration reduce costs.

Revenue for the 12 months to June 2025 climbed 12% year-on-year (y-o-y) to AUD1.1 billion ($718 million U.S.), while EBITDA rose 12% to AUD641 million ($418 million U.S.). Net profit after tax increased 10% y-o-y to AUD275 million ($179 million U.S.). 

McIntyre said the “excellent” results reflected “the strength of the business model, the execution of our strategy and resilience through macroeconomic cycles.”

“Our teams across the globe are doing an exceptional job of delivering on our purpose to make buying and selling a great experience, and I am very proud of all they have accomplished for our customers and shareholders over the past 12 months.”

Latin America was the standout, with y-o-y revenue growth of 26% to AUD205 million, due to “outstanding growth” at Webmotors in Brazil, which grew revenue through new dealer products and ongoing expansion.

In Australia, its flagship marketplace, Carsales, extended its market leadership, with revenue up 8% to AUD485 million, driven by a 10% rise in dealer revenue and a 5% increase in revenue from private listings. 

North American revenue grew 10% to AUD308 million despite softer macroeconomic conditions, while South Korea delivered a 16% increase in revenue to AUD136 million on the strong growth of Encar’s Guarantee inspection product. 

McIntyre said consumers preferred used cars over new, pointing to the more than AUD130 million worth of transactions processed through its Pay with Carsales payment system since its launch in Australia 12 months ago. 

“We’ve seen particularly strong performance in the used-car market, while the new car segment has remained stable,” he said. “Traffic and enquiry volumes continue to be healthy despite ongoing cost-of-living pressures.”

Will Elliott, CAR Group’s CFO since 2018, was named as McIntyre’s successor last month.

McIntyre has been mentioned as a possible contender for the top job at REA Group, which is expected to name a replacement for outgoing CEO Owen Wilson within weeks.

Tommy Logtenberg, CEO of Gumtree Australia Markets Limited

Gumtree users can now pay for items of up to AUD2,000 using PayPal’s new “buy now, pay later” service without interest charges or late fees, which the company says is unique for most marketplaces. 

“Adding PayPal to our payment options is a huge win for our users,” Gumtree Australia CEO Tommy Logtenberg said in a statement. “‘Pay in 4’ offers greater flexibility and convenience.” 

PayPal Australia MD Simon Banks said the deal would make second-hand shopping on Gumtree “not just affordable, but even more accessible.”

The expansion of Gumtree Pay reflects the company’s renewed focus on its core classified business. 

Last year, Gumtree struck up a partnership with property site Homely to syndicate listings across both marketplaces. In autos, it launched an instant cash offer for cars and a vehicle inspection service. 

It is also working with New Zealand media company NZME to launch an automotive classified site to compete with horizontal Trade Me’s marketing leading auto vertical. 

Last month, Gumtree sold its capital markets division to London-based fintech company ADVFN for AUD6.8 million ($4.5 million U.S.) in cash. The deal included the financial news site The Market Online, trading forum HotCopper and Canada-based StockHouse.

Cameron McIntyre is stepping down as CEO of Car Group

Cameron McIntyre, who has led Australia-based Car Group since 2017, will retire on Aug. 15 after nearly two decades with the company. Current CFO William Elliott has been named his replacement.

McIntyre succeeded Greg Roebuck — who co-founded Carsales in 1997 with Wal Pisciotta — as CEO in 2017 after Roebuck’s retirement. McIntyre first joined the company in 2007 as CFO and was promoted to COO in 2014.

During his tenure with the company, McIntyre has overseen Carsales’ growth from a single classified listing business in Australia to a global automotive marketplace specialist. He was also a key architect in the company’s 2009 IPO.

In a statement, Car Group’s chair Pat O’Sullivan said: “There is nothing more we could have asked from Cam in his time with the group … During his time as CEO, the group has become over five times larger, is now an ASX top-50 company and is included in the MSCI index. He has built a high-performing leadership team and globalised the group with almost 60% of the business based offshore. It is a testament to his leadership and his commitment to profitable growth.”

With Elliott’s appointment as CEO, the company’s chief strategy officer Stephen Wong has been appointed interim finance chief while the company conducts a competitive search for a permanent replacement.

Elliott has been with Car Group since 2015, when he was appointed head of financial planning and analysis. In 2018, he was made CFO of the company’s international business and head of commercial finance. He became group CFO in 2020.

The company said Elliott was selected as CEO as part of a succession planning process implemented by McIntyre and the company’s board to identify internal and external talent and ensure the effective management of “future succession events.”

“We have a strong history and reputation for building world class executives and I am delighted that Will will be stepping into the CEO role for Car Group,” O’Sullivan said. “Will possess exceptional financial and commercial acumen, strong leadership capability and brings a deep understanding of the culture and talent that underpins the success and ambition of Car Group.”

Reflecting on his time at the company, McIntyre said: “The past nine years have been the highlight of my career. From the very beginning, I have been inspired by the passion, resilience and innovation of our team. Together, we have navigated both challenges and opportunities, consistently striving to push the boundaries of excellence in our industry.”

The company, which reports its full year results Aug. 11, expects 12% proforma revenue growth and proforma EBITDA growth of 11-12%.