2 Cheap Cars Group Limited Ordinary Shares
2CC.NZXConsumer Discretionary
2 Cheap Cars Group* is an integrated used automotive group operating throughout New Zealand. We are vertically integrated from procurement in Japan through to our retail branches nationwide. Operating under the “2 Cheap Cars” brand, our Automotive Retail company is one of the largest used vehicle sellers in New Zealand with 12 dealerships across the country. Our mission is to deliver on our promise… 2 Cheap Cars, driving better deals, every day. *2 Cheap Cars Group was previously known as NZ Automotive Investments (NZAI).
Market Data
$0.800
+0.0%$36.4M
11.4x
$0.070
7.72%
+0.2%
Latest Earnings
2 Cheap Cars Group - Annual Report 2026
26 June 2026
2 Cheap Cars Group delivered FY26 NPAT of $3.2 million (down 3% from $3.3M), meeting its January 2026 guidance of surpassing $3.0 million, despite a challenging used vehicle market marked by elevated Clean Car Standard carbon credit costs (~$1.7M headwind vs FY25), subdued consumer sentiment, and lower vehicle volumes of 7,239 (vs 7,675 in FY25). Revenue held steady at $81.7 million (-0.3%), underpinned by record finance and insurance penetration rates (insurance 44%, finance 31%) and stronger second-half trading momentum. The company declared total FY26 gross dividends of 6.14 cents per share and enters FY27 with strong early trading momentum and a full-year contribution expected from the new Sylvia Park flagship branch. Key points: NPAT of $3.2 million met January 2026 guidance of surpassing $3.0 million despite a challenging market environment.; Record finance and insurance penetration: insurance reached an all-time high of 44% (up from 36% in FY25) and finance penetration rose to 31% (up from 27%), driving F&I commissions up 17% to $7.9 million.; Underlying EBITDA increased 1% to $8.1 million with EBITDA margin improving slightly to 9.9% from 9.7%, demonstrating resilience of the vertically integrated model.
Recent Announcements
Takeover Notice under Rule 41 of the Takeovers Code - 2CC
Sena & Co Limited has announced a full takeover offer under the Takeovers Code to acquire all ordinary shares in 2 Cheap Cars Group Limited not already held, at NZ$0.80 per share, with Sena & Co currently holding 75.924% of the company and seeking 90% acceptance to proceed.
2CC Receipt of Takeover Notice
Sena & Co Limited, which already holds approximately 76% of 2 Cheap Cars Group Limited (NZX:2CC), has issued a takeover notice indicating its intention to make a full takeover offer for the remaining shares at NZ$0.80 per share in cash; the formal offer must be made within 10-20 working days, and a Takeover Committee of independent directors has been established to manage 2CC's response.
2 Cheap Cars Group - Annual Report 2026
2 Cheap Cars Group delivered FY26 NPAT of $3.2 million (down 3% from $3.3M), meeting its January 2026 guidance of surpassing $3.0 million, despite a challenging used vehicle market marked by elevated Clean Car Standard carbon credit costs (~$1.7M headwind vs FY25), subdued consumer sentiment, and lower vehicle volumes of 7,239 (vs 7,675 in FY25). Revenue held steady at $81.7 million (-0.3%), underpinned by record finance and insurance penetration rates (insurance 44%, finance 31%) and stronger second-half trading momentum. The company declared total FY26 gross dividends of 6.14 cents per share and enters FY27 with strong early trading momentum and a full-year contribution expected from the new Sylvia Park flagship branch. Key points: NPAT of $3.2 million met January 2026 guidance of surpassing $3.0 million despite a challenging market environment.; Record finance and insurance penetration: insurance reached an all-time high of 44% (up from 36% in FY25) and finance penetration rose to 31% (up from 27%), driving F&I commissions up 17% to $7.9 million.; Underlying EBITDA increased 1% to $8.1 million with EBITDA margin improving slightly to 9.9% from 9.7%, demonstrating resilience of the vertically integrated model.
Trading update
2 Cheap Cars Group Limited (NZX:2CC) reported positive trading momentum continuing into FY27, with net profit after tax of approximately $0.6 million each in March, April, and May 2026, though the company cautioned this short-term performance may not be representative of full-year results and declined to provide FY27 earnings guidance.
Second-half momentum drives FY26 profitability
2 Cheap Cars Group (NZX:2CC) reported FY26 NPAT of NZ$3.2 million, marginally below the prior year's $3.3 million but in line with January 2026 guidance of exceeding $3.0 million. Revenue was broadly flat at $81.7 million (-0.3%) while EBITDA including finance income rose 1% to $8.1 million, with a strong second-half recovery driven by record F&I penetration rates (44% insurance penetration) and improved vehicle margins. The Board declared a final gross dividend of 3.99 cps, bringing total FY26 gross dividends to 6.14 cps (~9.9% yield), with early FY27 trading described as encouraging. Key points: FY26 NPAT of $3.2 million met guidance (exceeded $3.0M threshold set in January 2026); EBITDA including finance income grew 1% to $8.1 million despite challenging market conditions; Record insurance F&I penetration rate of 44%, up from 36% in FY25, driving improved second-half profitability
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