Maxiparts Limited · ASX:MXI

Maxiparts — MaxiTRANS Industries — H1 FY2016 Earnings Presentation

16 slides from Maxiparts's earnings presentation, Feb 19, 2016

  1. Slide 1: MaxiTRANS Industries Limited Half Year Ended 31st December 2015

    MaxiTRANS Industries Limited Half Year Ended 31st December 2015 For personal use only

  2. Slide 2: Financial Highlights

    Financial Highlights For personal use only Sales $M NPAT $M 200 12 180 10 160 140 8 120 6 100 4 80 60 2 40 0 20 0 -2 1H14 2H14 1H15 2H15 1H16 1H14 2H14 1H15 2H15 1H16 2

  3. Slide 3: 1H16 Overview

    1H16 Overview For personal use only Continued strong Australian trailer market share growth despite overall market contraction (new trailer registrations down 20% YoY, trailer de-registrations up 70%, prime mover truck sales down 12% YoY.) • 1H15 NPAT $5.19m – upper end of market guidance range • Un

  4. Slide 4: 1H16 Overview (cont…)

    1H16 Overview (cont…) For personal use only • Trailer business − Order intake up 8% on pcp − New NSW trailer dealership at Smeaton Grange opened in November ‘15 − Increased focus and resources on manufacturing continuous improvement program − Closed loss-making Bundaberg manufacturing facility in No

  5. Slide 5: Financial Highlights

    Financial Highlights For personal use only 1H14 1H15 1H16 % change on $000 $000 $000 1H15 Revenue 181,371 172,022 181,365 5% EBITDA 17,528 10,673 11,197 5% NPBT 14,086 6,708 7,364 10% NPAT attributable to MXI 10,252 5,086 5,189 2% equity holders 5

  6. Slide 6: Financial Highlights (cont…)

    Financial Highlights (cont…) For personal use only 1H14 1H15 1H16 % change on $000 $000 $000 1H15 Operating cash flow 9,406 10,682 13,182 +23% Net debt 28,185 34,334 31,809 -7% Net debt/equity % 23% 28% 25% -3ppts EPS (basic) (cents) 5.57 2.75 2.80 2% Interim dividend declared 3.75 2.00 2.00 0% (cen

  7. Slide 7: Trailer Business

    Trailer Business For personal use only • Continued strong market share growth resulting from aggressive pricing notwithstanding significant market decline • Benefits of manufacturing continuous improvement program has preserved margins – Increased resources applied to manufacturing continuous improv

  8. Slide 8: Trailers

    Trailers For personal use only • Unit sales down 21% on pcp despite market share increase indicative of a soft general freight market • Order intake up 19% on 2H15 • Significant opportunities from major fleets • Numerous product enhancements to be released in 2H16 should drive improved sales and mar

  9. Slide 9: Vans

    Vans For personal use only • Strong unit sales up 68% on pcp • Order bank down 45% on 2H15 but 37% up on pcp (reflecting the very strong order intake in 2H15) • Significant opportunities from major fleets • Commenced van rental business – TraileRentals. TraileRentals website Reefer for Ron Finemore

  10. Slide 10: Tippers

    Tippers For personal use only • Unit sales 1% down on pcp but 33% up on 2H15 • Order intake 16% up on 2H15 with improvement across all brands • General market conditions remain soft, however: – Vigorously pursuing waste refuse opportunities locally and internationally with comprehensive suitable pro

  11. Slide 11: Parts and Service

    Parts and Service For personal use only • Segment revenue is 6% below pcp with Parts revenue down 8% on pcp • Soft Queensland & WA market conditions due to high exposure to mining sector continues to drive the underperformance • 2H16 Focus: – Revenue growth to be delivered through new business initi

  12. Slide 12: International Operations

    International Operations For personal use only New Zealand • Unit sales up 30% on pcp with growth across both Maxi-CUBE and Freighter • Adverse product mix kept revenue largely flat and profit slightly behind pcp • Launch of VersaBOLT provides further product portfolio expansion • Forthcoming headwi

  13. Slide 13: International Operations

    International Operations For personal use only MTC – Yangzhou, China (80% owned JV) • Revenue up 33% on pcp • Increased production volumes and rigorous cost management resulted in significant profit improvement • Launch of new products for local and export markets, together with improved sales strat

  14. Slide 14: Outlook FY16

    Outlook FY16 For personal use only • Continuing soft market conditions with little sign of recovery in the short term, however strong market share will position MXI well when conditions improve • Strong order book leading into 2H16 • Market share gains to be obtained by: − Continued focus on aggress

  15. Slide 15: Outlook FY16 (cont…)

    Outlook FY16 (cont…) For personal use only • Operating in slowing market conditions, MaxiPARTS’ performance largely dependent on success of new business initiatives, particularly the MaxiSTOCK customer managed inventory system • MTC sales and profitability growth (incl. export sales) expected to con

  16. Slide 16: For personal use only

    STV EMS = hk EHTS ©) [panes EEE MaxiPARTS

MaxiTRANS Industries — H1 FY2016 Earnings Presentation on 6ix