Ntaw Holdings Limited. · ASX:NTD
Ntaw — National Tyre & Wheel — FY2018 Earnings Presentation
18 slides from Ntaw's earnings presentation, Aug 30, 2018
Slide 1: Financial Results 2018 Financial Year
For personal use only Financial Results 2018 Financial Year Note: Top Draw Tyres now trades as Tyrelife Solutions 30 August 2018 1
Slide 2: Important Information and Disclaimer
Important Information and Disclaimer For personal use only This presentation may contain certain unaudited financial information in relation to National Tyre & Wheel Limited (NTD or the “Company”). As such, it has not been subject to an audit or an audit process or otherwise independently verified
Slide 3: Results Highlights
Results Highlights For personal use only FY18 results exceed prospectus forecast Unit volume up 7.7% on FY17 Acquired businesses deliver on investment case Statewide acquisition completed in May 2018 Other M&A discussions continuing Expect FY19 earnings to be ahead of FY18 3
Slide 4: Pro Forma Results
Pro Forma Results For personal use only FY18 Pro Forma NPATA $10.7 million ahead of FY18 full year prospectus forecast NPATA $10.3 million FY18 Pro Forma EBITDA $16.9 million (FY18 full year prospectus forecast $16.4 million) Statewide excluded from pro forma, adds another $0.2 million to EBITDA … o
Slide 5: Summary of Pro Forma Results
Summary of Pro Forma Results For personal use only $'000 Pro Forma Historical Forecast Actual Comments Note FY2016 FY2017 FY2018 FY2018 s Sa l es revenue 1 137,379 144,464 155,232 153,402 The pro forma consolidated statement of profit and loss for FY2018 is Cos t of s a l es 2 (97,452) (97,343) (1
Slide 6: Bridging Pro Forma & Statutory Statements
Bridging Pro Forma & Statutory Statements For personal use only $'000 FY2015 FY2016 FY2017 FY2018 FY2018 Revenue Revenue Revenue Revenue Revenue Pro forma revenue 137,662 137,379 144,464 155,232 153,402 Notes Revenue relating to acquired businesses: NSW/ACT (4,960) 0 0 0 0 1. NPAT relating to acquir
Slide 7: Balance Sheet
Balance Sheet For personal use only $'000 FY2018 FY2017 Balance Sheet 30 June 2018 30 June 2017 Current assets Notes Cash and cash equivalents 19,608 14,765 Receivables 25,900 19,840 1. Cash and cash equivalents – The Group has a strong cash position holding $19.6 Inventories 47,754 31,348 million a
Slide 8: Cash Flow
Cash Flow For personal use only $'000 Statutory Statutory Forecast Actual Comments Note FY2018 FY2018 EBITDA cash flow conversion 95%, stronger than prospectus forecast. EBITDA 11,279 11,390 Net movement in working capital lower than forecast due to running down inventory of Non-ca s h i tems 2,
Slide 9: Successful IPO and ASX Listing
Successful IPO and ASX Listing For personal use only Share Price since IPO 59 million shares sold, raising $59m at $1.00 per share After sell down ≈ 58% held by the public and institutions More than 30 institutional shareholders at IPO Market Cap at ≈ $125m @ $1.22 per share (based on closing price
Slide 10: National Tyre & Wheel: Experienced Management Team & Board
National Tyre & Wheel For personal use only Experienced Management Team & Board Specialised brand building business focused on tyre & wheel importing and distribution Leading position in 4WD/SUV tyres, steel wheels & OEM wheels and tyres to caravan manufacturers Peter Ludemann Murray Boyte Strong hi
Slide 11: Extensive Distribution Platform
Extensive Distribution Platform For personal use only Senior Management team with over 200 years combined tyre and wheel industry experience Over 200 employees in 3 countries 12 Distribution Centres operated by NTAW 7 Warehouse operated by 3rd parties 11
Slide 12: A diversified tyre and wheel wholesaler
A diversified tyre and wheel wholesaler For personal use only New Zealand Australia South Africa South Australia 12
Slide 13: Building Leading Brands – Tyres
Building Leading Brands – Tyres For personal use only Exclusive importer and distributor of - Cooper and Mickey Thompson 4WD, SUV and passenger tyres and wheels in Australia, New Zealand and South Africa - All Federal tyres in Australia (ex Qld) and New Zealand - Mastercraft, Dick Cepek and Starfire
Slide 14: Building Leading Brands – Wheels & MPC
Building Leading Brands – Wheels & MPC For personal use only Dynamic – specialising in steel wheel importing and distribution in Australia and New Zealand MPC – specialising in OE solutions for caravan and trailer manufacturers in Australia Proprietary brands (Dynamic and MPC) and product designs St
Slide 15: History of Growth & Profit
History of Growth & Profit For personal use only ETD (core business) founded in 1989 to import and distribute Cooper tyre products Exclusive retailer business model and rapid expansion of 4WD vehicle fleet resulted in growth, with Cooper achieving a market leading position Mickey Thompson 4WD range
Slide 16: Outlook
Outlook For personal use only Expect FY19 earnings (EBITDA) to be ahead of FY18, with H2 contributing more than usual due to Q2 new product launch. Organic growth at historical rates forecast for business units – backed by ETD launch of an update of its biggest selling product (August/September 2018
Slide 17: FY19 Key Activities
FY19 Key Activities For personal use only ETD new product launches August/September Revenue synergies (all Group Businesses) Ongoing Dynamic new product launch Q2 Mickey Thompson TCC Content Launch August South Africa Product launches Q3 M&A Discussions Ongoing New MPC Mud Tyre and new Wheel Q1 New
Slide 18: Questions
For personal use only Questions Thank you 18