Westpac Banking Corporation (WBC) Earnings Call Transcripts

Westpac Banking Corporation's Latest Earnings Call - May 18, 2026

For the first half of fiscal year 2026, We Buy Cars Holdings Limited (WBC:ZA) reported a revenue increase of 7.8% to ZAR 14.2 billion, driven by higher volumes and average selling prices. However, headline earnings fell by 1.6% to ZAR 500.1 million, reflecting a challenging trading environment characterized by deflationary pressures and increased competition from Asian vehicle manufacturers. Management maintained a positive outlook, signaling confidence in achieving long-term growth targets despite current market challenges.

Reported metrics

Guidance from management

Management remains confident in achieving long-term growth targets, aiming to buy and sell 23,000 vehicles per month by 2028, despite current market challenges. No changes to guidance were indicated.

What management said

Thank you, Willem. Yes, we've been measuring our market area as a percentage of used vehicle registrations from [indiscernible]. The trajectory has been positive over the last number of years. In 2023, we're at 8.3%. In 2024, at 9.9%. In '25, I think at 10.1%. In H1, '26, we're at 10.55%. The positive for H1 FY '26 is quarter 2 where we ended up at 11%. Now we had record buying and sales months in Jan this year and M...

Thanks, Wynand. Faan, the next one is straight to you regarding the sale of shares in January, and it attracted quite a lot of market attention. The question here is, could you please provide some context about the rationale for the disposal. It also has this changed your long-term outlook and confidence in We Buy Cars.

What analysts pressed on

Analysts expressed concerns regarding the impact of increased competition from Asian manufacturers on margins and pricing strategies. There were also questions about the significant cash flow decline and its implications for future growth and expansion plans.

Main topics on the call

• Revenue Growth — We Buy Cars achieved a revenue increase of 7.8% to ZAR 14.2 billion, attributed to higher volumes and average selling prices. CEO Faan van Der Walt noted, "Units bought increased by 3.2% to 95,328 units while units sold ...
• Earnings Decline — Headline earnings decreased by 1.6% to ZAR 500.1 million, impacted by a challenging trading environment. CFO Chris Rein stated, "The main challenge in the period under review was lower gross margins in a challenging defl...
• Dividend Increase — The Board declared a gross interim cash dividend of ZAR 0.33 per share, a 10% increase from ZAR 0.30 in the prior period. This reflects a payout ratio of 27.5% of headline earnings, consistent with the company's dividend...
• Market Share Growth — Management indicated continued market share growth, reaching 10.55% in H1 FY 2026. Wynand Beukes noted, "We’ve been growing our market share in this first half despite the flat deflationary used market."

Read the full Westpac Banking Corporation transcript (May 18, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 33 Westpac Banking Corporation earnings call transcripts on record, spanning May 4, 2020 to August 10, 2026. Based on this history, Westpac Banking Corporation reports quarterly. The most recent call on file is dated August 10, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

WBC

Exchange

ASX

Country

AU

Sector

Financials

Industry

Banks

Calls on record

33

First call

May 4, 2020

Most recent

August 10, 2026

Reporting cadence

quarterly