Maxiparts Limited · ASX:MXI
Maxiparts — MaxiTRANS Industries — Shareholder Meeting (October 2009)
15 slides from Maxiparts's shareholder meeting presentation, Oct 16, 2009
Slide 1: Annual General Meeting
For personal use only MaxiTRANS Industries Limited Annual General Meeting 16th October, 2009
Slide 2: Financial Highlights
Financial Highlights For personal use only Sales $M Underlying NPAT $M 350 18 300 16 14 250 12 200 10 150 8 100 6 4 50 2 0 0 FY06 FY07 FY08 FY09 FY06 FY07 FY08 FY09 * * Excludes impact of impairment charge of $6.137 million and restructuring costs of $1.428 million
Slide 3: Financial Highlights (cont.)
Financial Highlights (cont.) For personal use only % Change 1H: $151m FY07 $000 FY08 $000 FY09 $000 on FY08 2H: $102m Sales 236,553 290,740 252,621 (13%) Underlying EBITDA 18,180 30,309 14,904* (51%) Underlying NPBT 9,800 21,943 6,572* (70%) Underlying NPAT 8,018 16,101 5,243* (67%) Impairment charg
Slide 4: Financial Highlights (cont.)
Financial Highlights (cont.) For personal use only FY07 $000 FY08 $000 FY09 $000 Inventory reduced by Operating Cash $10.4m Flow 5,543 18,600 14,072 Net Debt 39,385 32,574 24,236 Bank facilities Net Debt/Equity % 51% 36% 29% secured until Sept. EPS (Basic) 4.67 cents 9.38 cents 3.02 cents* 2010 Divi
Slide 5: FY09 Overview
FY09 Overview For personal use only > Strong order banks at start of year > Order intake declined across most brands in 1H09 > Lack of credit and loss of confidence depressed sales > Highly competitive market conditions > Enquiry rates maintained but quote conversion rates fell by over 50% until Apr
Slide 6: FY09 Overview (cont.)
FY09 Overview (cont.) For personal use only Strategies implemented in FY09: > Capex and discretionary spending frozen > Salaries frozen plus a 10% reduction for Directors and Senior Management > Reduced working days, use of annual leave and extended shutdowns > Employee numbers reduced by 312 > Re-n
Slide 7: Trailers
Trailers For personal use only > Strong order bank at start of FY09 > Unit sales down 39% on pcp > Aggressive approach to retain customers and volume > Product development stimulating sales (Load Hold + EziLiner = 40% of T-Liner sales) > Major contracts in FY09: Linfox, EziLiner Semi-Trailer Austral
Slide 8: Vans
Vans For personal use only > Strong order bank at start of FY09 > Unit sales down 33% on pcp > Aggressive and highly competitive market Maxi-CUBE Slide-A-Side > Major contracts: Lindsay Australia, Woolworths > Van market remains flat > Major tender pending (240+ units). Peki Reefer
Slide 9: Tippers
Tippers For personal use only > Record number of units sold (+17% on pcp) > Strong rural sector (Qld, SA, Northern NSW) > Strengthened sales/distribution (SA and north Qld) > Order intake remains strong > Promising outlook for crop yields and rural tipper demand. Stag B-Double
Slide 10: Tippers
Tippers For personal use only > FY09 opened with strong order bank > Unit sales down 23% on pcp > Construction sector remains depressed (Truck and Dog market) > Strong price competition in urban and construction sectors > Robot welding and new CAD systems delivering gains > Order intake has strength
Slide 11: Parts
Parts For personal use only > FY09 revenue similar to prior year > Margins impacted by rapid fall in A$ in 1H09 > Working capital, staff numbers, costs reduced > $6.1m impairment charge pursuant to AASB 136 Steel Wheel Rim > Expanded wholesale network paying dividends > Strong start in 1Q10: Sales u
Slide 12: New Zealand
New Zealand For personal use only > NZ trailer market declined 29% in FY09 > MaxiTRANS now the second largest trailer manufacturer in NZ > Growth in sales of rigid truck bodies > Market will remain flat until regulation changes in early 2010 > Factory expansion plans underway. Maxi-CUBE Slide-A-Side
Slide 13: Joint Ventures
Joint Ventures For personal use only Freighter Maxi-CUBE Qld (36.67%): > Positive contribution but down 27% on pcp after 8 years of growth > Acquired Trailer Sales North Queensland – Positive contribution since acquisition February 09 – Opportunities for growth in North Queensland Yangzhou Maxi-CUBE
Slide 14: Outlook F10
Outlook F10 For personal use only > General improvement in order intake since May 09 > 1H10 NPAT* reflects significant improvement on 2H09 underlying NPAT > 1H10 NPAT* expected to exceed budget and be approximately 40% of underlying NPAT in pcp > Consumer confidence and economic outlook appear to be
Slide 15: Annual General Meeting
For personal use only MaxiTRANS Industries Limited Annual General Meeting 16th October, 2009
MaxiTRANS Industries — Shareholder Meeting (October 2009) on 6ix