The S&P/ASX 200 Index (ASX: XJO) is down 0.38% in morning trade today despite the best efforts of this soaring ASX 200 share.

The outperforming company in question is employee services and fleet solutions provider Smartgroup Corporation Ltd (ASX: SIQ).

Smartgroup shares closed yesterday trading for $7.87. At the time of writing on Wednesday, shares are changing hands for $8.40, up 6.73%.

This strong performance for the ASX 200 share follows the release of Smartgroup's full-year 2024 results.

Here's what's grabbing investor interest.

ASX 200 share soars on surging profits

• Revenue of $305.8 million, up 22% from 2023
• Operating earnings before interest, taxes, depreciation and amortisation (EBITDA) of $118.7m, up 18% year on year
• Statutory net profit after tax (NPAT) of $75.6 million, up 22% from 2023
• Final fully franked dividend of 31 cents per share (comprised of an ordinary dividend of 20 cps and a special dividend of 11 cps)

What else did Smartgroup report for the full year?

The ASX 200 share credited its strong 2024 revenue growth to higher novated leasing volumes. Novated leasing settlements were up 20% year on year.

Management said they remain focused on EBITDA margin as the company aims to achieve greater efficiencies from its digital and technology investments in the medium term.

In 2024, the EBITDA margin was 39%, down from 40% in 2023. Smartgroup said the 38% EBITDA margin in the first half of 2024 was impacted by costs related to the implementation of its South Australia Government contract. The second-half EBITDA margin improved to 40%.

On the leasing front, electric vehicles accounted for 44% of new car lease orders in 2024, including plug-in hybrid EVs at 13%.

Demonstrating ongoing demand for internal combustion engine (ICE) vehicles, new ICE car lease orders increased 12% year on year.

The company reported operating cash flow at 108% of net profit after tax and amortisation (NPATA).

Total expenses for the year came out to $173.2 million.

What did management say?

Commenting on the results boosting the ASX 200 share in today's sliding market, Smartgroup CEO Scott Wharton said:

In 2024, we continued to invest in customer experience and acquisition, delivering record customer numbers across salary packaging, novated leasing and fleet.

We are making progress against our Strategic Priorities, announced in February 2024. This includes our new digital customer home, Smart.com.au, as well as our enhanced car leasing portal, both delivering improved functionality and better customer experience. We also expanded benefits through partnerships, including Qantas and Intellihub.

The group further simplified its operations in 2024, divesting two non-core businesses and transitioning our Advantage brand customers and clients to the new Smart brand.

What's next for this ASX 200 share?

Looking to what could impact the stock in the months ahead, Wharton said Smartgroup was "cautiously optimistic for the year ahead".

He noted potential headwinds for the company include continued high interest rates and inflation, international factors and the plug-in-hybrid EVs incentive ending in March.

However, Wharton said:

We are well-positioned within the industry to deliver profitable growth through the implementation of our Strategic Priorities…

We continue to make investments to deliver our Strategic Priorities with CY 2025 technology capex expected to be $11-13m, similar to CY 2024.