Eagers Automotive Limited · ASX:APE
Eagers Automotive — Shareholder Meeting (May 2023)
46 slides from Eagers Automotive's shareholder meeting presentation, May 24, 2023
Slide 1: AGM addresses and presentation
24 May 2023 Market Announcements Office ASX Limited For personal use only AGM addresses and presentation The Annual General Meeting of Eagers Automotive Limited (ASX:APE) is being held as a hybrid meeting today at 9:00am (Qld time). Please find attached the following AGM material: 1. Chairman’s addr
Slide 2: Chairman's address
24 May 2023 Chairman’s address Shareholders, On behalf of the Eagers Automotive Board, I welcome you to our Annual General Meeting for the year ended 31 December 2022. I will begin with my reflections on 2022 and I will then invite our Chief Executive Officer Keith Thornton to provide his report on
Slide 3: The year ahead
The year ahead We are now almost five months through the new financial year. In the first four months of the year, demand for vehicles continued to exceed supply and our order bank continues to grow to record levels with an extended run-off period. This positions the company strongly to continue to
Slide 4: CEO's address
24 May 2023 CEO’s address Thank you, Chairman. Good morning shareholders and thank you for your interest in Eagers Automotive’s Annual General Meeting. Today, I will begin with a brief review of the company’s operating and financial performance during 2022. For personal use only I would then like to
Slide 5: For personal use only
We have deliberately and uniquely positioned the company to support our customers and OEM partners, both existing and new, to capitalise on this incredible market shift. More on this later. Within this market context, Eagers Automotive has continued to perform strongly. In 2022 we maximised volume i
Slide 6: For personal use only
People: Throughout 2022 we continued to invest in technology to improve both the customer experience and employee productivity. In turn this allowed the business to continue to re- design both the roles we employ and the output possible. The technology we develop in-house is proprietary to Eagers, i
Slide 7: Trading Update
Trading Update Turning now to our year-to-date trading. On a like for like basis, demand continues to exceed supply and our order book has grown further through to the end of April 2023. This dynamic has been accentuated by the widely reported port delays and bio-security issues that have materially
Slide 8: For personal use only
Given the uncertainty and variability around both these factors it would be inappropriate to provide specific guidance at this stage on our expectations for the first half of 2023, however both factors appear to be favourable to our near-term performance. For the remainder of 2023, we are encouraged
Slide 9: For personal use only
We are proud of your company’s tradition of delivering for shareholders and also the role we play in our communities; being able to serve our customers and also assist others in need through the Eagers Automotive Foundation. We provided $1.5 million in charitable support last year, evidencing the wo
Slide 10: Annual General Meeting
For personal use only 66 Annual General Meeting th 24 MAY 2023
Slide 11: Introductions
Introductions For personal use only Tim Crommelin Keith Thornton Sophie Moore Nick Politis Dan Ryan Chairman CEO Director/CFO Director Director Marcus Birrell Michelle Prater David Blackhall Greg Duncan Denis Stark Director Director Director Director Company Secretary 2 | Eagers Automotive 2023 Annu
Slide 12: How to ask a question online
How to ask a question online For personal use only • To ask a written question select the Q & A icon • Select the topic your question relates to from the drop-down list • Type your question in the text box and press the send button • To ask a verbal question follow the instructions below the broadca
Slide 13: How to vote online
How to vote online For personal use only • When the poll is open, select the vote icon at the top of the screen • To vote, select either For, Against or Abstain • You will see a vote confirmation • To change or cancel your vote “click here to change your vote” at any time until the poll is closed 4
Slide 14: Voting is now open
For personal use only Voting is now open 5 | Eagers Automotive 2023 Annual General Meeting
Slide 15: Chairman's address
For personal use only Chairman’s address To find a copy of the Chairman’s address, please visit https://www2.asx.com.au/markets/trade-our-cash-market/announcements.ape 6 | Eagers Automotive 2023 Annual General Meeting
Slide 16: CEO's address
For personal use only CEO’s address To find a copy of the CEO’s address, please visit https://www2.asx.com.au/markets/trade-our-cash-market/announcements.ape 7 | Eagers Automotive 2023 Annual General Meeting
Slide 17: FY 2022 Operating & Financial Highlights
FY 2022 Operating & Financial Highlights Operating Highlights Financial Highlights For personal use only Record Underlying Financial Performance & Dividend Statutory PBT Record Underlying(1) Record Return on Operating PBT Sales (Underlying) Strong Margins & Robust Balance Sheet Favourable Market Dyn
Slide 18: NEXT100 Strategy
NEXT100 Strategy Providing integrated mobility solutions for the next 100 years Strategy For personal use only OPTIMISE DEVELOP GROW Transformation & Evolution + Consolidation & Engage our customers, everywhere Redefine our workforce Deliver optimised vehicle finance Support Reinvest with Rationalis
Slide 19: FY 2022 Strategic Initiatives
FY 2022 Strategic Initiatives Execution against our key strategic priorities For personal use only Engage our Redefine our Deliver optimised Support Reinvest with Strategic customers, workforce vehicle finance innovation discipline everywhere Pillar solutions Flexible property portfolio. Superior cu
Slide 20: AutoMall West
AutoMall West Execution of innovative automotive retail solutions For personal use only Foot Traffic Dwell Time 2,000+ 16 minutes Average unique visitors Average time spent inside the per day store per customer Order Write Growth Service RO Growth 175.6% 38.3% Increase in monthly order write Growth
Slide 21: Acquisitive growth continues in 2023
Acquisitive growth continues in 2023 Driving growth through selective and strategic M&A Irelands For personal use only of Cairns Long established and successful business Multi franchise operation Strategic property acquired (~24,000 m2) + 12 | Eagers Automotive 2023 Annual General Meeting
Slide 22: 2023 Outlook & Beyond
2023 Outlook & Beyond Disciplined focus on accelerating our Next100 Strategy Top Line Growth Return on Sales Growth For personal use only $8.5 billion $9.5 - $10.0 billion 2023 & 3.0% 4.6% 4.7% 2023 & 2022 2023 est. Beyond… 10-yr avg 2021 2022 Beyond… Franchised Auto consolidation and rationalizatio
Slide 23: 2023 Key Takeaways
2023 Key Takeaways - Revenue growth: Increase of 9.0% year-to-date On Track 1 Revenue growth - Forecast full year growth: Remains unchanged On Track For personal use only Sustainable strong - Margins: Remain strong year-to-date On Track 2 return on sales - Cost base: Controlled in challenging enviro
Slide 24: Proxy and Direct votes received prior to meeting
Proxy and Direct votes received prior to meeting For Against Board Discretion Non-Board Abstain % in favour or at Discretion Board Discretion 2(a) Tim Crommelin re-election 163,006,265 15,009,554 187,716 428,193 215,758 91.36% For personal use only 2(b) Marcus Birrell re-election 144,037,804 33,974,
Slide 25: Financial Reports
For personal use only Financial Reports Item 1 Eagers Automotive financial reports can be found in the 2022 Annual Report (commencing on page 53) 16 | Eagers Automotive 2023 Annual General Meeting
Slide 26: Re-election of Tim Crommelin
Re-election of Tim Crommelin For personal use only Item 2(a) Independent, non-executive Director since February 2011. Member of Remuneration & Nomination Committee. Chairman of Morgans Holdings (Australia) Limited. Director, University of Queensland Endowment Foundation (UQEF). Trustee, Australian C
Slide 27: Proxy votes: Re-election of Tim Crommelin
Proxy and Direct votes received prior to meeting For personal use only Item 2(a) Re-election of Tim Crommelin For Against Board Discretion Non-Board Abstain % in Favour or at Discretion Board Discretion 163,006,265 15,009,554 187,716 428,193 215,758 91.36% 18 | Eagers Automotive 2023 Annual General
Slide 28: Re-election of Marcus Birrell
Re-election of Marcus Birrell For personal use only Item 2(b) Non-executive Director since July 2016. Independent Director since February 2020. Member of Audit & Risk Committee. Former Director of Australian Automotive Dealer Association Limited. 38 years automotive experience at manufacturer, finan
Slide 29: Proxy votes: Re-election of Marcus Birrell
Proxy and Direct votes received prior to meeting For personal use only Item 2(b) Re-election of Marcus Birrell For Against Board Discretion Non-Board Abstain % in Favour or at Discretion Board Discretion 144,037,804 33,974,400 187,716 430,903 216,663 80.74% 20 | Eagers Automotive 2023 Annual General
Slide 30: Re-election of Sophie Moore
Re-election of Sophie Moore For personal use only Item 2(c) Executive Director since March 2017. Chief Financial Officer since August 2015, responsible for the group’s accounting, taxation, internal audit and treasury functions. Chartered accountant, having previously held senior finance roles with
Slide 31: Proxy votes: Re-election of Sophie Moore
Proxy and Direct votes received prior to meeting For personal use only Item 2(c) Re-election of Sophie Moore For Against Board Discretion Non-Board Abstain % in Favour or at Discretion Board Discretion 159,661,425 18,346,864 192,716 428,193 218,288 89.49% 22 | Eagers Automotive 2023 Annual General M
Slide 32: Re-election of David Blackhall
Re-election of David Blackhall For personal use only Item 2(d) Independent, non-executive Director since December 2019. Chairman of Audit & Risk Committee. Managing Director of corporate advisory firm Raglan Ridge Advisors. Chairman and Former Chief Executive Officer of Australian Automotive Dealer
Slide 33: Proxy votes: Re-election of David Blackhall
Proxy and Direct votes received prior to meeting For personal use only Item 2(d) Re-election of David Blackhall For Against Board Discretion Non-Board Abstain % in Favour or at Discretion Board Discretion 177,773,091 239,638 187,716 430,903 216,138 99.63% 24 | Eagers Automotive 2023 Annual General M
Slide 34: Re-election of Greg Duncan
Re-election of Greg Duncan For personal use only Item 2(e) Independent, non-executive Director since December 2019. Chairman of Remuneration & Nomination Committee. Member of Audit & Risk Committee. Director JWT Bespoke Pty Ltd, an investment and advisory firm. Former Chairman of Board of Management
Slide 35: Proxy votes: Re-election of Greg Duncan
Proxy and Direct votes received prior to meeting For personal use only Item 2(e) Re-election of Greg Duncan For Against Board Discretion Non-Board Abstain % in Favour or at Discretion Board Discretion 173,024,204 4,987,274 188,966 430,903 216,139 96.97% 26 | Eagers Automotive 2023 Annual General Mee
Slide 36: Re-election of Michelle Prater
Re-election of Michelle Prater For personal use only Item 2(f) Non-Executive Director since February 2020. Executive Chairman of APPL Group, a property and investment group. Former executive roles at corporate and operational levels with Automotive Holdings Group Limited, including as an Executive D
Slide 37: Proxy votes: Re-election of Michelle Prater
Proxy and Direct votes received prior to meeting For personal use only Item 2(f) Re-election of Michelle Prater For Against Board Discretion Non-Board Abstain % in Favour or at Discretion Board Discretion 156,543,489 21,466,849 191,194 428,193 216,283 87.75% 28 | Eagers Automotive 2023 Annual Genera
Slide 38: Remuneration Report
For personal use only Remuneration Report Item 3 The Remuneration Report can be found in the 2022 Annual Report (commencing on page 36) 29 | Eagers Automotive 2023 Annual General Meeting
Slide 39: Proxy votes: Remuneration Report
Proxy and Direct votes received prior to meeting For personal use only Item 3 Remuneration Report For Against Board Discretion Non-Board Abstain % in Favour or at Discretion Board Discretion 99,754,860 1,123,836 188,452 428,193 1,622,435 98.47% 30 | Eagers Automotive 2023 Annual General Meeting
Slide 40: Renewal of Proportional Takeover Provisions of Constitution
For personal use only Renewal of Proportional Takeover Provisions of Constitution Item 4 A detailed summary of this motion is included in the Notice of Meeting 31 | Eagers Automotive 2023 Annual General Meeting
Slide 41: Proxy votes: Proportional Takeover Provisions
Proxy and Direct votes received prior to meeting For personal use only Item 4 Proportional Takeover Provisions of Constitution For Against Board Discretion Non-Board Abstain % in Favour or at Discretion Board Discretion 177,794,864 141,652 194,014 430,903 284,575 99.68% 32 | Eagers Automotive 2023 A
Slide 42: The meeting is now paused
For personal use only The meeting is now paused so shareholders may finalise their votes 33 | Eagers Automotive 2023 Annual General Meeting
Slide 43: Voting is now closed
For personal use only Voting is now closed 34 | Eagers Automotive 2023 Annual General Meeting
Slide 44: Q&A
For personal use only Q&A 35 | Eagers Automotive 2023 Annual General Meeting
Slide 45: Meeting is now closed
For personal use only Meeting is now closed 36 | Eagers Automotive 2023 Annual General Meeting
Slide 46: For personal use only
For personal use only 37 | Eagers Automotive 2023 Annual General Meeting