PETALING JAYA: Carsome Group Inc, South-east Asia’s largest integrated car e-commerce platform, reported a milestone year in financial year (FY) 2025 with earnings before interest, taxes, depreciation and amortisation more than doubling to US$23mil.
In a statement, the company said gross profit rose 16% year-on-year (Y-o-Y), while gross profit per unit (GPU) increased 22% Y-o-Y to a record high.
Carsome noted that this profitable growth was led by Carsome’s core business in Malaysia and Singapore, where volumes continued to be strong despite softer regional market conditions.
It said the performance firmly established the structural profitability path it embarked on in the last two years.
“In particular, Carsome introduced various new initiatives to deliver even more value to our customers, such as expanded financing for our dealers and the affordable Value Plus proposition for retail customers.
“During the year, Carsome also established a number of key strategic partnerships with leading financial institutions, underscoring confidence in the group’s prospects.”
Carsome group co-founder and group chief executive officer Eric Cheng said FY2025 marked an important milestone for the group.
“After several years of building strong foundations, we are now seeing these efforts grow and sustain our profitability.”
As new car sales continue to evolve, Cheng said the used car segment remains an important area of opportunity across Carsome’s business verticals.
“Towards that end, we are especially proud to be expanding access to car ownership for everyday consumers through affordable vehicles and responsible financing.
“With the support of our partners and a clear value proposition, we are entering our next phase of growth from a position of strength.”
