Ama Group Limited · ASX:AMA

Ama — Investor Presentation (August 2024)

27 slides from Ama's investor presentation, Aug 23, 2024

  1. Slide 1: FY24 Annual Results Presentation

    FY24 Annual Results Presentation 23 August 2024

  2. Slide 2: Webcast

    Webcast AMA Group FY24 Annual Results Presentation Friday, 23 August 2024 11:00am, AEST To join the webinar online register here: https://ccmediaframe.com/?id=hsQeUVhS To join the webinar via phone register here: https://s1.c-conf.com/diamondpass/10039973-bh5v2z.html 2

  3. Slide 3: Business Update

    Business Update

  4. Slide 4: FY24 Overview

    FY24 Overview  Continued focus on people through FY24 Normalised ‐ Increased the team by 146 to 3,4401, including 450 apprentices, and reduced voluntary turnover by 8.4 Revenue EBITDA percentage points to 30.0%2 $895m $49.0m ‐ Grown technical and leadership expertise through I-CAR and Frontline lea

  5. Slide 5: Vehicle Collision Repairs

    Vehicle Collision Repairs Performance ahead of expectations, with opportunity to further improve Sites1 Revenue  Substantial $24.1 million normalised pre-AASB 16 EBITDA improvement from FY23 128 $820.8m  Reduction in repair volume from FY23 largely reflective of network consolidation FY24 FY24 ↓5

  6. Slide 6: AMA Collision

    AMA Collision Network rationalisation complete with improving performance and commercial and customer focus Sites1 Revenue  AMA Collision most impacted by cash constraints in 1H242, with loss of volume and 62 $355.2m team members FY24 FY24 ↓7 sites vs. FY23 ↓$5.1m vs FY23  Customer relationships i

  7. Slide 7: Capital SMART

    Capital SMART Delivering ahead of expectations with operational improvements delivered early Sites Revenue  Pricing reset 1 July 2023 after three-year pricing standstill 59 $464.5m ‐ Clear annual repricing mechanism FY24 FY24 ‐ FY24 transitional support for operational initiatives ↑2 sites vs. FY23

  8. Slide 8: Specialist Businesses

    Specialist Businesses Newly formed Specialist Businesses unit will bring focus on key opportunities 5 Prestige Revenue 2 TrackRight  AMA Prestige Sites $44.2m ‐ New format AMA Prestige - Harris & Adams opened in NSW 5 TechRight FY24 ‐ EBITDA performance down year on year due to prior year positive

  9. Slide 9: Wales Heavy Vehicle

    Wales Heavy Vehicle Wales has grown pre-AASB 16 EBITDA 22.5% year on year1 with further upside Revenue Sites  Stable revenue profile, with 12.8% growth year on year $73.8m 8 FY24  Greater customer choice than passenger vehicle repair ↑$8.4m vs FY23 ‐ Reputation and service critical  Adelaide site

  10. Slide 10: ACM Parts

    ACM Parts Business reset over past two years, strong core growth and poised for profitability Sites Revenue  Continued strong underlying sales growth 6 $84.8m ‐ Parallel import daily parts sales up 36.0% in 4Q242 vs 4Q233 FY24 FY24 ‐ Record external daily parts sales of $177k in 4Q242 with dedicate

  11. Slide 11: Group Financials

    Group Financials

  12. Slide 12: Summary Financial Performance

    Summary Financial Performance Summary financial performance ($M) FY24 FY23 Change Continuing Operations  Total Group revenue and other income from continuing Revenue and other income 894.8 830.3 64.5 operations up $64.5 million to $894.8 million (FY23: Operating expenses (inc. rent, normalisations)

  13. Slide 13: Summary Financial Position

    Summary Financial Position Summary financial position ($M) Jun-24 Jun-23 Change  30 June cash position of $39.9 million (including $3.0 million Cash and cash equivalents 36.9 28.9 8.0 cash balance for ACM Parts captured within Assets held for Other current assets 81.8 126.1 (44.3) sale) Assets held

  14. Slide 14: Net Debt and Funding

    Net Debt and Funding 30-Jun-24 Net Debt ($M) 30-Jun-24 30-Jun-23  Extension of senior debt facilities for a new maturity date of Pro-forma1 31 December 2025 (were due to mature in October 2024) Financial liabilities - drawn cash facilities 80.0 130.0 165.0 agreed with banking syndicate in July 2024

  15. Slide 15: Cash Flows

    Cash Flows Statement of Cash Flows ($M) FY24 FY23 Change  FY24 Operating Cash inflow of $10.5 million1 (once all Receipts from customers, inclusive of GST 1,013.1 995.6 17.5 Payments to suppliers and employees, inc. of GST (935.0) (963.1) 28.1 lease payments included) substantially improved from Pa

  16. Slide 16: Corporate

    Corporate Summary financial performance ($M) FY24 FY23 Change  Reduction in operating expenses reflects a number of Revenue and other income 0.1 0.4 (0.3) Operating expenses (including rent) (23.2) (25.1) 1.9 cost reduction initiatives and the settlement of historical EBITDA (pre-AASB 16) (23.1) (2

  17. Slide 17: Outlook

    Outlook

  18. Slide 18: Outlook

    Outlook Repositioning of the balance sheet allows AMA Group to focus on achieving core growth initiatives, with FY25 normalised pre-AASB 16 EBITDA expected to be above FY24 and a five-year pre-AASB 16 EBITDA margin target of ~9%1  Capacity utilisation can be improved by reducing vacancy count from

  19. Slide 19: Other Information

    Other Information

  20. Slide 20: Team members $895m

    Drivable passenger vehicle collision repairs $464.5m FY24 revenue 1,540 team members Number of sites 149k repairs # Drivable and non-drivable passenger vehicle collision repairs $355.2m FY24 revenue 30 1,292 team members 89k repairs 13 5 Heavy vehicle collision repairs $73.8m FY24 revenue 27 261 tea

  21. Slide 21: Summary Financial Performance

    Summary Financial Performance FY24 FY24 Summary financial performance Post-AASB 16 Pre-AASB 16 Revenue and other income 894.8 894.8 Operating expenses (inc. rent, normalisations) (802.8) (845.8) Normalised EBITDA 92.0 49.0 Normalisations 0.4 0.4 EBITDA 92.4 49.4 Depreciation & amortisation (excl. SM

  22. Slide 22: FY24 Results

    FY24 Results Improvement in operating position of all business segments on prior year (excluding ACM Parts) Vehicle Collision Repairs Wales ACM Corporate/Eliminations Total Group Summary financial performance ($M) FY24 FY23 Change FY24 FY23 Change FY24 FY23 Change FY24 FY23 Change FY24 FY23 Change R

  23. Slide 23: Quarterly Key Metrics

    Quarterly Key Metrics Key Metrics - Quarter on Quarter Units 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Safety LTIFR #/mhrs 3.63 3.04 2.05 2.07 2.43 2.72 4.03 4.95 Collision Repair Repair volume '000 69.5 61.6 64.7 64.7 66.7 58.0 58.8 60.8 Average repair price $ 2,914 3,123 3,176 3,342 3,514 3,736 3,68

  24. Slide 24: Proforma FY24 Capitalisation Following Equity Raising

    Proforma FY24 Capitalisation Following Equity Raising PROFORMA BALANCE SHEET Jun-241 Impact of Impact of Jun-24 Improved liquidity position4 2 3 Cash on balance sheet ($millions) A$ millions Equity Raising Debt extension Pro-Forma Cash and cash equivalents 39.9 63.3 - 103.2 Other current assets 190.

  25. Slide 25: Definitions

    Definitions Item Definition EBITDA Earnings before interest, tax, depreciation, amortisation, impairment and fair value adjustments on contingent vendor consideration. From continuing operations (excludes ACM Parts). Pre-AASB 16 unless stated. Normalised EBITDA EBITDA as defined above, excluding the

  26. Slide 26: Q&A

    Q&A

  27. Slide 27: AMA Group Limited

    AMA Group Limited ABN 50 113 883 560 Level 13, 484 St Kilda Road Melbourne, VIC 3004 amagroupltd.com

AMA Group — Investor Presentation (August 2024) on 6ix