Peter Warren Automotive Holdings Ltd · ASX:PWR
Peter Warren Automotive — H1 FY2025 Earnings Presentation
27 slides from Peter Warren Automotive's earnings presentation, Feb 21, 2025
Slide 1: H1 FY25 Results Presentation ASX Announcement
ASX Announcement 21 February 2025 Peter Warren Automotive Holdings Limited H1 FY25 Results Presentation Peter Warren Automotive Holdings Limited (ASX: PWR) encloses for immediate release its H1 FY25 Results Presentation. Authorised for lodgement by the Board of Peter Warren Automotive Holdings Limit
Slide 2: Peter Warren Automotive Holdings H1 FY25 Results Presentation
Peter Warren Automotive Holdings Hi FY25 Results Presentation 21 February 2025 Andrew Doyle Victor Cuthell Chief Executive Officer Chief Financial Officer
Slide 3: Agenda
Agenda H1 FY25 Results Overview 3 CEO Review 6 H1 FY25 Financial Summary 12 Conclusions and Outlook 18 Questions 20 Appendices 22 Peter Warren Group Half Year Results 2025
Slide 4: H1 FY25 Results Overview
Slide 5: H1 FY25 Financial Overview
H1 FY25 Financial Overview Underlying PBT delivered in line with guidance of $6m - $8m 2.2% Revenue Growth H1 FY25 Revenue $1,229m H1 FY24 Revenue $1,203m Lower Inventory Inventory: 31 Dec $460.8m Inventory: 30 Jun $476.9m (1) Underlying PBT excludes one-off costs of $1.1m (HI FY24: $2.6m) (2) After
Slide 6: PBT Bridge
PBT Bridge PBT was impacted by a $29.3m drop in new car gross profit, mitigated by cost savings and organic growth in other service lines Ci) PBT reduced to $7.1m as new car gross ao als margins had a large impact © Gross profit reduced by $13.3m including: + -$29.3m in new vehicle GP ~59 + +$4.5m o
Slide 7: CEO Review
CEO Review —
Slide 8: CEO Review
CEO Review Peter Warren Performance Industry Trends Initiatives to Deliver 1st Impressions + Opportunities a
Slide 9: CEO Review — Industry Trends
CEO Review — Industry Trends More competitive market presents new car margin challenges, but also many opportunities + Macro-economic cost of living pressure driving Number of OEMs is accelerating weaker customer demand on prior periods Market Dynamics + Accelerating growth in the number of OEMs, an
Slide 10: CEO Review — Peter Warren Performance
CEO Review — Peter Warren Performance New car margins impacted by oversupply. Focus on the controllables: Stock, F&l, Used, Service & Parts New Vehicle Stock Finance & Insurance \ LFL Decrease -$16.5m 63 “\ LFL Revenue +1.8% 382.8 312.6 re — Jun New LFL Dec 2024 D'ships Decrease 2024 Service Busines
Slide 11: CEO Review — First Impressions and Opportunities
CEO Review — First Impressions and Opportunities Very strong foundations, with solid opportunities to offset margin pressure First Impressions Opportunities * 65+ years of brand legacy, strong culture, and high-quality v Macro environment optimism (rate relief) into 2025 management professionalism Y
Slide 12: CEO Review — Initiatives to Deliver
© CEO Review — Initiatives to Deliver Initiatives underway to actively manage through the cycle and deliver improved profitability Brand Partners Strong target-driven culture Close and trusted partnerships * Clearly aligned incentives communicated * Improved retail performance * Peter Warren the emp
Slide 13: H1 FY25 Financial Summary
H1 FY25 Financial Summary. piv; \s eo”. * —_ + re |
Slide 14: H1 FY25 Financial Results
H1 FY25 Financial Results Continued revenue growth, PBT in line with guidance Revenue ($m) EBITDA® (Sm) B | [ - j= . . T Hn Yaz Hi FY22 Hi FY23 HIFY24 Hi FY25 Hi Fait) Hi FY22 HIFY23 HIFY24 HIFY25 New Vehicle Units Sold PBT®) (Sm) 10,507 10,246 13,384 15,762 26.9 36.3 4 34.4 HIFY21 Hi FY22 HIFY23 HI
Slide 15: H1 FY25 Profit and Loss
H1 FY25 Profit and Loss Impact of new car margins mitigated by acquisitions and organic growth in used cars, service, parts and finance HI FY25 HIFY24 Variance Variance $m $m $m % Ci) Revenue 1,229.4 1,203.1 26.3 2.2% @ Gross Profit 198.4 2n7 (13.3) (6.3%) Gross Profit % 16.1% 17.6% C3] Operating ex
Slide 16: Gross Profit
Gross Profit New car supply is impacting industry gross margins 17.6% -1.8% +0.3% 16.1% > HI FY24 New Car Other HI FY25 GP % 20.8% 19.1% We 18.3% 17.6% : ; : Hi FY22 H2 FY22 HIFY23 H2 FY23, HIFY24 H2FY24 HI FY25 Peter Warren Group Half Year Results 2025 Margin down 1.5ppts to 16.1% Increased vehicle
Slide 17: Operating Cost Bridge ($m)
Operating Cost Bridge ($m) Opex savings of $5.2m offset inflation with more Opex savings targeted 4.0 -5.2 HiFY24 Acquistions Inflation Cost Opex reduction Opex as a % of revenue 12.6% 11.8% 17% 14.3% 12.0% HI H2 HI H2 HI Fy23FY23 FY24 FY24 Fy2s Peter Warren Group Half Year Results 2025 147.3 = Hi F
Slide 18: Cash Flow Statement
Cash Flow Statement Operating cash flow of $29.2m generated from EBITDA of $50.0m HI FY25 Hi FY24 Statutory Statutory Variance sm sm tS EBITDA 50.0 68.7 (27.2%) © Movement in working capital (5.3) (6.9) Movement in customer deposits (1.2) (6.4) Operating cash flow before floorplan interest 43.5 55.4
Slide 19: Conclusions and Outlook
Conclusions and Outlook
Slide 20: Conclusions and Outlook
Conclusions and Outlook Near term focus is on actively managing through the cycle, whilst capturing compelling opportunities Conclusions H1 FY25 profitability impacted by market-driven over-supply of new vehicles LFL revenue growth achieved in other departments: * Service * Used cars * Parts * Fal N
Slide 21: Questions
Slide 22: Disclaimer
Disclaimer IMPORTANT NOTICE The material in this presentation has been prepared by Peter Warren Automotive Holdings Limited (ASX: PWR) ABN 57 615 674 185 (“Peter Warren” or the “Company’) and is general background information about Peter Warren's activities current as at the date of this presentatio
Slide 23: Appendices
Vy pra “a
Slide 24: Balance Sheet
Balance Sheet AASB 16 Reconciliation 3r-Dec-24 30-Jun-24 - HI FY25 HI FY24 $m Variance sm Actual Actual Actual Actual Cash and cash equivalents 22.7 35.2 (12.5) EBITDA (AASB 117) 321 53.4 Trade and other receivables 82.6 102.0 (19.4) Decrease in operating lease expense 79 15.3 Inventories 460.8 416.
Slide 25: Adjustments to Statutory Income Statement
Adjustments to Statutory Income Statement Statutory Underlying “ @ December half year end ($m) Hi FY25 Hi FY24 H1FY25 Hi FY24 Revenue 1,229.4 1,203.1 1,229.4 1,203.1 Cost of sales (1,031.0) (991.4) (1,031.0) (991.4) Gross profit 198.4 2.7 198.4 2.7 Gross profit margin 16.1% 17.6% 16.1% 17.6% Employe
Slide 26: Definitions
Definitions AASB Australian Accounting Standards Board IFRS International Financial Reporting Standards ‘Accounting Accounting standards, principles and practices applying by law or LFL Like for like Standards otherwise generally accepted and consistently applied in Australia NEV New Energy Vehicle
Slide 27: Enquiries
Enquiries Investor relations contact details: Katrina Dang Phone: +61 2 9828 8704 Email: investors@pwah.com.au Company IR website: www.pwah.com.au Company address: 13 Hume Highway, Warwick Farm, NSW, 2170, Australia
Peter Warren Automotive Holdings — H1 FY2025 Earnings Presentation on 6ix