MOVE Logistics Group (ASX:MOV) said it has achieved further significant improvement and met its target of positive normalised earnings before tax (NEBT) for the year ended 30 June 2026 (FY26).

Chief executive Paul Millward said MOVE is gaining positive momentum and returning to profitable earnings as it continues to execute its New Horizons four-year roadmap, which began in June 2024. With the reset phase completed and the step-up phase now underway, the company said its focus has shifted from foundational transformation to accelerating commercial growth.

MOVE reported that three of its four businesses delivered profitable earnings in FY26, an important marker for the transport and logistics group as it works to show that its restructuring is translating into operating performance across more than one division.

The company said the most notable improvement came from its Freight & Fuel division, where a turnaround meant rising revenue translated into positive earnings. The Specialist division also recorded a strong year, with year-on-year earnings improvement as large projects commenced in the second half of FY26. International delivered a material year-on-year earnings uplift, with Oceans producing the expected results.

Warehousing, however, remained below expectations. MOVE said possible structural cost reductions have now been executed, and management’s priority is aggressive top-line growth to restore profitability in that business.

The company said it has managed capital prudently, citing a reduction in net debt, improved free cashflow and careful control of capital expenditure. For a logistics operator, working capital and funding costs are closely tied to day-to-day activity levels, making the planned refinancing relevant to MOVE’s ability to support growth while continuing to control costs. MOVE also said its new BNZ invoice finance facility, scheduled to commence in November 2026, will reduce ongoing finance costs and help optimise working capital.

Millward told shareholders that while the timing and pace of an economic recovery remain uncertain, MOVE remains focused on its New Horizons roadmap and on what he described as a clear pathway to sustainable value creation.

“FY26 marks an important milestone for MOVE as we delivered our financial target of positive normalised earnings and further strengthened the business,” he said.

“Today, MOVE is a leaner, more capable organisation with a cost base and network better aligned to market conditions and well positioned for the next phase of growth. The structural benefits of the transformation are being realised, with revenue growth and continued cost optimisation resulting in improved positive earnings.

“FY26 has been marked by an inconsistent economy and intense competition. Against that backdrop, delivering an increase in revenue alongside positive earnings (NEBT) represents an important achievement.”

Earlier this year, the transport and logistics group agreed terms with BNZ for a new facility of up to $22 million to support its working capital requirements.

The invoice finance facility is expected to commence by 30 November 2026, when the current Pacific Invoice Finance facility expires. MOVE said the new arrangement will provide a meaningful reduction in its financing costs.

Millward acknowledged the support of Pacific Invoice Finance as the company’s transformation plan has progressed.

“The new funding arrangement with BNZ strengthens our banking relationships and is another positive step forward in MOVE’s business transformation plan. The facility is competitively priced and will significantly lower our financing costs from November 2026 forward.”

Before the market opened, MOV was steady at 15.0¢, with a market capitalisation of $19.14 million.