Slide 1: FY25 1H Result
For personal use only FY25 1H Result Graeme Whickman, CEO & MD Aaron Canning, CFO 12 February 2025 1
Slide 2: Disclaimer
Disclaimer Important notices This presentation has been prepared by Amotiv Limited (ABN 99 004 400 891) (“Amotiv” or “Company”). For personal use only Summary information This Presentation contains summary information about Amotiv and its activities current as at 12 February 2025. The information in
Slide 3: Contents
Contents Key Messages and Group Overview 4 For personal use only Divisional Review 10 Financials 14 Trading Update and Outlook 21 Appendix A 23 Including supplementary financial information Appendix B 28 Including glossary of terms 3
Slide 4: Amotiv – Key messages
Amotiv – Key messages1 For personal use only Result reflects Continued to invest Well positioned for Strong capital Growth in Group a challenging for growth, within an improved H2, position supports revenue and environment an updated supported by new continued buyback underlying EBITA and AOV’s stro
Slide 5: Group financial highlights
Group financial highlights1,4 • Revenue growth due to Powertrain & Undercar (+5.8%) and Lighting, Power & Revenue2 Underlying EBITDA2 Electrical (+3.6%) while 4WD & Trailering was softer (-1.9%). Headwinds continued + 2.3% to + 2.6% to For personal use only across NZ, Caravan/RV and APG Top 20 $503.
Slide 6: H1 progress on FY25 strategic imperatives
H1 progress on FY25 strategic imperatives1 Enterprise optimisation – South Africa Build offshore Operational Capital For personal use only ‘Amotiv Unified’ manufacturing revenue excellence Management 2025 • 4WD1 NZ cost out • Successfully • Strong Vision X • Delivered industry • Share buyback initia
Slide 7: Amotiv is a diversified automotive parts company
Amotiv is a diversified automotive parts company benefiting from resilient, largely ICE agnostic revenues that are increasingly from offshore markets2 Strategically positioned – combining Global strategic footprint – expands reach and TAMs supported by major manufacturing sites located resilience an
Slide 8: Focused on strategic imperatives to drive growth within existing portfolio
Focused on strategic imperatives to drive growth within existing portfolio1 01. Enterprise optimisation Long term Strategic Imperatives For personal use only ‒ Leverage scale – “Amotiv Unified” 4WD Accessories & Trailering Establish and drive Amotiv Unified platforms Be the leader in 4WD Accesso
Slide 9: 'Amotiv Unified': next evolution of the business
‘Amotiv Unified’: next evolution of the business Amotiv Unified represents the Multi-year Evolution of our Wave 1 Platforms maturing of the Auto pure play Business Platforms For personal use only • Now leveraging scale with a focus on efficiency Product, Sourcing, Logistics & Fulfilment and producti
Slide 10: Divisional Review
For personal use only Divisional Review Graeme Whickman, CEO & MD
Slide 11: 4WD Accessories and Trailering (4WD)
4WD Accessories and Trailering (4WD)1 Solid revenue performance against a backdrop of weak Pick-up/SUV sales (APG Top $M FY25 H1 FY24 H1 Change 20 flat) and softness in caravan/RV and NZ markets Revenue2 179.7 183.1 (1.9%) For personal use only • Reported revenues supported by a modest acquisition.
Slide 12: Lighting, Power & Electrical (LPE)
Lighting, Power & Electrical (LPE)1 Revenue reflects challenging ANZ market dynamics masking a strong US $M FY25 H1 FY24 H1 Change performance Revenue 160.0 154.5 3.6% For personal use only • Revenue growth supported by the contribution from acquired businesses2 Underlying EBITDA 38.0 38.1 (0.3%) •
Slide 13: Powertrain and Undercar (PU)
Powertrain and Undercar (PU)1 Result reflects continued resilience of the ‘wear and repair’ market, brand strength $M FY25 H1 FY24 H1 Change and ongoing revenue diversification Revenue 164.0 155.0 5.8% For personal use only • Strong, above system, volume growth driven by filtration, including positi
Slide 14: Financials
For personal use only Financials Aaron Canning, CFO
Slide 15: Group financials
Group financials1 • Revenue +2.3% benefiting from LPE acquisitions. Organic revenue $M FY25 H1 FY24 H1 Change of $478m, representing 3% decline on pcp For personal use only Revenue 503.7 492.6 2.3% • Gross Profit – reported margins at 44%, down 75bp due to higher freight costs and 4WD mix. Pricing b
Slide 16: NWC and cash conversion
NWC and cash conversion1 Investment in Net Working Capital expected to support stronger H2 Net working capital (NWC) • Inventory increases of $11.5m since June FY24 due to: For personal use only Movement − LPE: Inventory build in Australia due to reseller destocking FY25 H1 FY24 FY24 H1 vs FY24 vs H
Slide 17: Balanced capital investment supporting growth and offshore expansion
Balanced capital investment supporting growth and offshore expansion1 Product Development (PD) and innovation spend Capex increase largely reflects capacity Increased Capex balanced across sustaining and supportive of future organic growth expansion, including offshore markets growth initiatives For
Slide 18: Foreign Exchange and growth in offshore earnings contribution
Foreign Exchange and growth in offshore earnings contribution Foreign Exchange Exposure – US$ exposure well managed1 USD payables exposure vs. hedging position For personal use only • A$:US$ Majority of H2 exposure hedged >80% through to beginning of May 2025 at favourable rates 91% • FY25 P&L impac
Slide 19: Balance sheet flexibility with long dated debt profile and attractive cost
Balance sheet flexibility with long dated debt profile and attractive cost1 Conservative leverage2 maintained Debt profile is long dated and mostly fixed... …at an attractive “all in rate” Net Debt vs Net Debt/Adjusted EBITDA2 Maturity profile ($m) For personal use only 500 2.50 2.6 150 BBSY - avera
Slide 20: Capital Allocation Framework
Capital Allocation Framework1 Amotiv has formalised an updated Capital Allocation Framework For personal use only • Aligns to existing internal processes and the lens through which capital deployment opportunities are assessed Cash conversion ratio >= 75% • Balances short- and long-term growth aspir
Slide 21: Trading Update and Outlook
For personal use only Trading Update and Outlook Graeme Whickman, CEO and MD
Slide 22: Trading update and outlook
Trading update and outlook1 For personal use only Trading Update - January FY25 outlook • Forward workshop bookings stable at 1-2 weeks Growth in Group revenue and underlying EBITA is expected in FY25 driven by slightly stronger H2 skew, supported by • ANZ NVS trends have continued • South Africa re
Slide 23: Appendix A
For personal use only Appendix A Supplementary financial information
Slide 24: Significant items
Significant items 4WD Accessories Lighting, Power Powertrain For personal use only $M Unallocated Total & Trailering & Electrical & Undercar Cash items Acquisition initiative support costs 0.1 - - 0.3 0.4 Greenfield Costs e.g. South Africa, 4WD US expansion 2.5 - - - 2.5 Restructuring, redundancy an
Slide 25: Cash conversion and balance sheet calculations
Cash conversion and balance sheet calculations Cash conversion Balance sheet ratios For personal use only $M FY25 1H FY24 1H Change $M FY25 H1 FY24 FY24 H1 Operating cashflow 55.1 76.9 (28.3%) Bank overdraft - 1.0 0.7 Adjustments: Current Borrowings - - 40.2 + Tax paid 26.0 25.1 3.6% Non-Current Bor
Slide 26: Balance sheet ratio calculations
Balance sheet ratio calculations1 Adjusted EBITDA – rolling 12 months2 Net interest – lease adjusted For personal use only $M FY25 H1 FY24 $M FY25 H1 FY24 EBIT post AASB 16 144.2 164.7 Reported Interest (rolling 12 months) 25.1 25.5 Add ROU depreciation 21.4 19.1 Interest on lease liabilities (6.7)
Slide 27: Reconciliation to segment EBIT (note 5)
Reconciliation to segment EBIT (note 5) 4WD Accessories and Trailering Powertrain and Undercar For personal use only $M FY25 H1 FY24 H1 Change $M FY25 H1 FY24 H1 Change Revenue 179.7 183.1 (1.9%) Revenue 164.0 155.0 5.8% Operating costs (139.5) (142.3) (2.0%) Underlying EBITDA 40.2 40.8 (1.5%) Opera
Slide 28: Appendix B
For personal use only Appendix B Supplementary information
Slide 29: Glossary of terms (1 of 3)
Glossary of terms (1 of 3) Term For personal use only 4WD 4WD Accessories & Trailering Division ACS Australian Clutch Services, a subsidiary company of Amotiv Ltd Adjusted EBITDA A non-IFRS measure, Earnings Before Interest, Tax and Amortisation adjusted for the impact of leases and acquisitions/dis
Slide 30: Glossary of terms (2 of 3)
Glossary of terms (2 of 3) Term For personal use only ICE Products Those in categories of automotive parts, accessories and services that can only be applied to ICE vehicles (i.e. they are dependent on an ICE for their operation). Relates to step up in inventory acquired via a business combination a
Slide 31: Glossary of terms (3 of 3)
Glossary of terms (3 of 3) Term For personal use only PD or NPD Product Development or New Product Development PPS Percentage points PU Powertrain & Undercar Division R&D Research and Development RAV Register of Approved Vehicles (Australia) ROCE Return on capital employed RV Recreational vehicle In
Slide 32: 4WD Accessories and Trailering (4WD) – Key drivers
4WD Accessories and Trailering (4WD) – Key drivers Auto industry sales steady overall in APG Top 20 (ANZ) but model mix still highly variable – Caravan volumes reflect slowing industry For personal use only APG Top 20 New Vehicle Sales (000’s) – ANZ FY25 H11,2 APG Top 20 Sales Variance - ANZ FY25 H1
Slide 33: APG Top 20 flat - strong RAV4 sales concealing drop in Pick Ups & SUV M+
APG Top 20 flat - strong RAV4 sales concealing drop in Pick Ups & SUV M+ New Vehicle Sales in Key Segments and Markets: H1 FY25 vs H2 FY241 (Not to same scale) Australia: Top 20 slightly down HoH + = For personal use only Australia New Zealand ANZ Combined • Pick Up category down 16% for the half −
Slide 34: LPE and Powertrain and Undercar – Key drivers
LPE and Powertrain and Undercar – Key drivers SUV and Pick up segmentation remains strong EV (inc. PHEV) growing, ICE still dominates Amotiv enjoys the benefit of an ageing car parc For personal use only New Vehicle Sales – Australia – CY15 to CY30Forecast1,2 Sales by fuel type (% of sales)1,4 Avera