Completion of divestment from Toll Group unlocks capacity to re-invest
Statutory earnings before interest, tax, depreciation and amortisation (EBITDA)[1] was $104 million, an increase of $99.7 million year-on-year, underpinned by the reduction of separation costs from the Toll Group divestment
Total available liquidity of $93.4 million as at 31 March 2025, comprised of cash and cash equivalents of $43.5 million and undrawn available debt facilities of $49.9 million
Total comprehensive losses of $115.6 million, an improvement of $74 million on FY24 ($189.9 million), mostly attributable to a reduction in transaction and separation costs
Revenue of $2,946 million (FY24: $2,953 million) in line with the previous year, as inflationary pressures affected enterprise and consumer spending
Growth of cross border strategic partnerships and new B2B and B2C customer agreements enabling TGE to maintain revenues, while business efficiency initiatives mitigated inflationary cost challenges
Strategic portfolio optimisation via restructuring of the Tasmanian business.
Sydney, 31 July 2025 – Team Global Express (TGE), Australia's largest multi-modal logistics network, today announced its financial results for FY25, delivering a solid performance against increasing inflationary and market challenges, highlighting the successful completion of its divestment from the Toll Group and improved capital structure.
Chief Executive Officer Nick Stratford said, "The completion of our divestment from the Toll Group enables us to increase our focus and investment in our operational performance and customer interface.
"While revenue was in line with the previous year, our diversified service offering and signing of new strategic partnerships locally and internationally have enabled us to maintain market share.
"Our liquidity position, combined with improved earnings and earnings retention, provides TGE with the cash required to accelerate investment into our systems, people, and processes.”
Group Executive Chairman Christine Holgate said, “We remain committed to reinvesting into Team Global Express and capitalising on growing cross-border, ecommerce, and strategic partnership opportunities, specifically throughout Asia.
“The business expects to deliver significant earnings growth in the year ahead, driven by sustainable improvements in ecommerce, underlying cost disciplines, and the optimising of our core business to meet changing marketplace demand.
“We have the financial flexibility to accelerate operational advances across the Group and continue to improve service to our customers.”
Toll Divestment Delivers Transformational Financial Benefits
The completion of the Toll Group divestment represents a pivotal milestone for TGE, eliminating previous payment obligations and enabling substantially improved earnings retention.
FY25 statutory EBITDA was $104 million, up $99.7 million on the year prior, mostly attributable to a $71.8 million reduction in divestment-related payments, disciplined cost management and lower employee related expenses.
Underlying EBITDA after one-off technology investment expenses associated with upgrading the Company’s IT systems and process efficiencies was $140.1 million.
TGE maintained its market position to deliver total revenue of $2,946 million (FY24: $2,953 million), demonstrating significant resilience against a challenging operating environment marked by inflationary pressures, elevated operating costs, and reduced enterprise and consumer spending.
The completion of transaction and separation arrangements in the previous reporting period resulted in a significant reduction in total comprehensive losses to $115.6 million, an improvement of $74 million on the year prior (FY24: $189.9 million).
Enhanced Liquidity Provides Reinvestment Flexibility
As at 31 March 2025, TGE has established a robust financial base with a total $93.4 million of available liquidity, consisting of cash and cash equivalents of $43.5 million and undrawn available debt facilities of $49.9 million.
Strategic Portfolio Optimisation
Further to the reporting period, TGE has successfully restructured its Tasmanian operations, establishing Strait Link Logistics as a separate entity focused on moving freight via the Strait Link Shipping business between the ports of Melbourne and Burnie.
TGE and Strait Link Shipping Pty Ltd, a subsidiary of Strait Link Australia Holdings Pty Ltd (SLAH Group), have commenced a process for the logistics operation to be sold to the SLAH Group, with a Share Purchase Agreement expected to be finalised this calendar year.
The restructure has generated immediate value, with TGE receiving a $25 million deposit from the SLAH Group in June 2025 as part of the anticipated transaction proceeds.
Group Executive Chair Christine Holgate said, “Our restructuring of the TGE Tasmania operations demonstrates the Group’s ability to identify and extract market value for our shareholders, while optimising our operational footprint.
“This strategic divestment allows TGE to focus on its core multi-modal network and maximise its capital allocation across the business.”
Outlook
TGE remains confident and optimistic while acknowledging ongoing market headwinds.
The separation from Toll Group, combined with disciplined cost and capital management, positions TGE to deliver enhanced shareholder value while maintaining its commitment to safety, our people, and quality of service delivery to our customers.
ENDS
Media Contact
James Rickards
0419 731 371
james.rickards@teamglobalexp.com
[1] All figures represent Team Global Express Australia, excluding Team Global Express New Zealand and the Strait Link business.
