Bus and ferry operator Kelsian Group is set for a record profit year, driven by its All Aboard America! acquisition.
Revenue for the 12 months ending June is projected to surge 42.2% to $2.02 billion, while profits are expected to soar 176.2% to $58 million.
With the gains, Kelsian plans to invest up to $190 million in capital expenditures for FY25, including fleet upgrades and new acquisitions.
Kelsian's Managing Director and Group CEO, Clint Feuerherdt, expressed enthusiasm about the fiscal performance.
"The indicative FY24 unaudited result represents a very strong performance for the business, reflecting the first full-year contribution of AAAHI which underpinned increased revenue and EBITDA margin."
Looking forward, the board has approved substantial investments aimed at enhancing the bus and ferry fleet and supporting medium to long-term growth.
Notable projects include the strategic acquisition of Sydney's Hoxton Park bus depot and final investments for Kangaroo Island ferry infrastructure.
Feuerherdt added, "The growth momentum across all areas of our business, in particular in the Australian bus and AAAHI businesses, supports this investment to underpin multiple years of growth in the medium and longer term. The board and management recognise the solid foundation for growth and are investing accordingly to capitalise on it."
Kelsian’s audited results for FY24 will be released on Aug. 28.
Kelsian Group is an integrated multi-modal transport provider and tourism operator. The company's segments include marine and tourism, Australian bus and international bus.