Uni-Select — Q4 2017 Earnings Presentation
16 slides from Uni-Select's earnings presentation, Feb 20, 2018
Slide 1: Q4 2017 Conference Call
Q4 2017 Conference Call February 20, 2018
Slide 2: Preliminary Comments
Preliminary Comments Certain statements made in this presentation are forward-looking statements. These forward-looking statements include, but are not limited to, statements relating to Uni-Select’s financial guidance (including, without limitation, adjusted EBITDA margin and organic sales by busin
Slide 3: Q4 2017 – Highlights (YoY)
Q4 2017 – Highlights (YoY) • Fourth quarter results were mixed: • Good performance by Canadian Automotive Group, organic growth of 1.5% and 5.9% excluding the customer loss at the beginning of 2017; • We continue to work through some challenges at FinishMaster US, organic growth of -2.1%, product li
Slide 4: Q4 2017 Highlights/FinishMaster US
+95% Q4 2017 - Highlights/FinishMaster US of sales derived by commercial Total Sales up 10.1% Supported by Business Acquisitions accounts • Continued focus on driving profitable growth in specific initiatives to achieve long-tem objectives and counterbalance current market conditions • Organic Growt
Slide 5: Q4 2017 Highlights/Canadian Automotive Group
Q4-2017 Highlights/ +90% of sales derived Canadian Automotive Group by commercial accounts Total Sales up 11.6% Supported by Positive Organic Growth from Canadian Independent Customers and Corporate Stores • Organic sales growth of 1.5% and 5.9% excluding the customer loss at the beginning of 2017 •
Slide 6: Q4 2017 Highlights/The Parts Alliance UK
+95% Q4-2017 Highlights/The Parts Alliance UK of sales derived by commercial First Full Quarter of Results Included in Uni-Select Results accounts • On a standalone basis, organic sales up 3.7% including one of the slowest month of the year, December • Management team strengthened with internal prom
Slide 7: Q4 2017 Financial Review
C =a) FINISHMASTER Automote 8nd a in 42017 inancial Review Auto Parts Plus’ UNI-SELECT, in
Slide 8: Total Sales by Business Segment
Total Sales by Business Segment Q4 2017 Highlights (YoY) (Millions of $ ) • Total sales up 42.6% to $415.0 million mainly driven by recent acquisitions 415.0 • FinishMaster US sales reached $199.0 395.8 million, up 10.1% mainly from business 55.7 93.0 acquisitions 340.3 • Canadian Automotive Group s
Slide 9: EBITDA by Business Segment
EBITDA by Business Segment (1) Q4 2017 Highlights (YoY) (2) (Millions of $ ) • Adjusted EBITDA amounted to 33.9 (2) $28.0 million, up 10.4% driven 32.5 (2) 2.3 mainly by The Parts Alliance UK operations and the Canadian 10,7 28.0 (2) Automotive Group operations 11,3 25.4 (2) 23.2 3.7 • Adjusted EBIT
Slide 10: 20/20 Initiative: Save $20M of annualized operating costs by end of 2020
20/20 Initiative: Save $20M of annualized operating costs by the end of 2020 • All business units are working on various initiatives to meet our 20/20 objective • The focus is on reducing our cost to serve model by becoming more efficient • To date, approximately 60% of our total targeted number has
Slide 11: Earnings
Earnings (1) (Millions of $ ) Earnings (1) Q4 2017 Highlights (YoY) 16,6 15,9 13,1 • Adjusted earnings reached $11.6 million or 11,0 11,6 $0.27 per share vs. $13.1 million or $0.31 per share in Q4 2016. The variation is mostly related to increased intangible assets amortization and increased finance
Slide 12: Q4-2017 – Sources and Uses of Funds
Q4-2017 – Sources and Uses of Funds (Millions of $) Q4 2017 Highlights (YoY) • Cash flow from operating activities totaled $45.5 million, down $9.0 million compared to Q4 2016 mainly due to lower activities through the 45,5 54.8 vendor financing program and higher interest payments partially offset
Slide 13: Financial Position
Financial Position (Millions of $ ) Total Net Debt(1) Q4 2017 Highlights (1) 418 ● Total Net Debt outstanding was $417.9 million down $21.1 million from Q3 2017 as cash availability 278 260 permitted debt reimbursement (2) 112 ● Leverage ratio of Funded Debt to Nil 0 (1) Adjusted EBITDA of 3.56x at
Slide 14: Operating Results Highlights
Operating Results Highlights (Millions of $ ) % Revenue 2017 2016 2017 2016 2017 Highlights (YoY) Sales 1,448.3 1,197.3 • Sales were up 21.0% to $1.4 Gross margin 465.1 366.6 32.1% 30.6% billion, due mainly to business Employee benefits 236.7 175.6 16.3% 14.7% acquisitions (up 23.4%) and Other opera
Slide 15: 2017 – Sources and Uses of Funds
2017 – Sources and Uses of Funds (Millions of $) 2017 Highlights (YoY) • Cash flow from operating activities totalled $124.0 million, down $10.0 million compared to 2016 mainly due to lower activities through the vendor financing program, higher interest payments, higher income tax payments and acqu
Slide 16: Contact info
Contact info: Investorrelations@uniselect.com