Slide 1: FY2016 Results Presentation
F Y 2 0 1 6 R e s u l t s P r e s e n t a t i o n
Slide 2: Our Brands
Our Brands AUTOMOTIVE EQUIPMENT B PRECISION (Car Baxters LV Sai AAD © EI @ The Car & Truck Parts Specialists MIDAS Ass
Slide 3: Disclaimer
Disclaimer The material in this presentation has been prepared by Bapcor Limited (“Bapcor”) ABN 80 153 199 912 and is general background information about Bapcor’s activities current at the date of this presentation. The information is given in summary form and does not purport to be complete. Infor
Slide 4: Agenda
Agenda 1 FY2016 Results Highlights 2 FY2016 Result Details 3 Strategy Update 4 Outlook 5 Q&A 4
Slide 5: FY2016 Result Highlights
1 FY2016 Result Highlights 2 FY2016 Result Details 3 Strategy Update 4 Outlook 5 Q&A 5
Slide 6: FY2016 Result Highlights
FY2016 Result Highlights $ million FY2016(3) FY2015(4) Variance Revenue 685.6 375.0 82.7% Gross Margin %(1) 44.2% 41.4% 2.8 EBITDA 77.0 41.5 85.7% Strong NPAT 43.6 23.1 88.9% performance EPS(2) (cps) 17.85 13.62 31.0% in all areas Final dividend (cps) 6.0 4.7 27.7% Full year dividends (cps) 11.0 8.7
Slide 7: Business Segment Contribution to Results
Business Segment Contribution to Results Revenue EBITDA EBITDA % Revenue % FY2016 FY2015 FY2016 FY2015 % Change FY2016 FY2015 Change Change Trade 419.1 375.3 11.7% 51.8 44.3 17.0% 12.4% 11.8% 0.6 Retail 191.1 - - 22.2 - - 11.6% - - Specialist 103.4 - - 10.1 - - 9.8% - - Wholesale Unallocated / (28.0
Slide 8: Burson Trade
Burson Trade 145 stores at the end June 2016, up 15 from June 2015. Network now includes 6 stores in WA and 1 in the ACT – operate in all states and territories. Total revenue up 11.7% Same store sales growth of 4.6% Supplier price increases successfully passed through to market
Slide 9: Burson Trade - Summary of Key Performance Indicators
Burson Trade - Summary of Key Performance Indicators Store Numbers Revenue and “Same Store” growth 145 375.3 419.1 130 341.6 116 284.3 306.3 100 105 4.6% 4.6% 3.9% 2.1% 1.4% FY2012 FY2013 FY2014 FY2015 FY2016 FY2012 FY2013 FY2014 FY2015 FY2016 Revenue ($ million) Same Store growth % Gross Profit Mar
Slide 10: Retail
Retail Total store numbers up by 48 in FY2016. Includes 40 Sprint Auto Parts stores acquired April 2016, 3 independent Autopro and CarParts Stores, 3 Autobarn and 2 service workshops Autobarn same store growth for FY2016 was 5.2% EBITDA margin of 11.6% Strategy of growing company owned Autob
Slide 11: Specialist Wholesale
Specialist Wholesale Wholesale segment comprises AAD and Opposite Lock (acquired August 2015) and Bearing Wholesalers (acquired March 2016) Good progress in growing level of intercompany sales Some sales loss of products traditionally sold to Burson’s competitors 10 additional Opposite Lock
Slide 12: FY2016 Result Details
1 FY2016 Result Highlights 2 FY2016 Result Details 3 Strategy Update 4 Outlook 5 Q&A 12
Slide 13: Summary Income Statement
Summary Income Statement Revenue growth of 82.7% delivered by Pro forma, $ million FY2016 FY2015 Change ANA acquisition contributed 67.9% Burson Trade up 11.7% Revenue 685.6 375.3 82.7% Bearing Wholesalers and Sprints contributed 3.3% Gross Profit 303.0 155.4 94.9% Same Store sales growth
Slide 14: Summary Cash Flows
Summary Cash Flows Working capital Pro forma, $ million FY2016 Working capital movement reflects increase in sales Cash flows excluding ANA associated cash flows Total year end working capital 18.9% of FY2016 sales EBITDA 77.0 compared to 11.2% June 16 due nature of ANA’s franchise Change in w
Slide 15: Summary Balance Sheet
Summary Balance Sheet ANA acquisition Balance sheet reflects impact of ANA $ million Jan 2016 June 2015 acquisition Cash 22.4 107.9 Fair value exercise undertaken with third party valuation of intangibles Trade and Other Receivables 87.8 33.4 $221M intangibles relate to the ANA Inventories 1
Slide 16: Strategy Update
1 FY2016 Result Highlights 2 FY2016 Result Details 3 Strategy Update 4 Outlook 5 Q&A 16
Slide 17: Subsequent Events
Subsequent Events Since 30 June 2016; • Trade has opened 5 stores • Retail has opened; • 4 Autobarn stores (3Strategy company, 1 franchise) • 1 Autopro store (company) • 1 Midas (franchise) • Specialist Wholesale has added: • Baxters - auto electrical • Roadsafe – 4WD & suspension • 1 Opposite Lock
Slide 18: Group Business 5 year Strategic Targets and Current Status
Group Business 5 year Strategic Targets and Current Status CURRENT STATUS Trade focussed “parts Target 25% AUS Target TRADE professionals” supplying Home 200 150 Stores workshops brands Stores 10% home brand AUS Target 116 AB Stores Premium Retailer of Target 35% 200 67 OL stores Automotive Accessor
Slide 19: Outlook
1 FY2016 Result Highlights 2 FY2016 Result Details 3 Strategy Update 4 Outlook 5 Q&A 19
Slide 20: Outlook
Outlook FY2017 will continue to deliver business and profit growth Solid growth in Trade and Retail New stores – circa 40 Full 12 months trading from former ANA businesses Inclusion of full 12 months Bearing Wholesalers, Sprint Auto Parts and Precision Automotive Equipment Acquisitions
Slide 21: Thank You
Thank You 21