Ntaw Holdings Limited. · ASX:NTD
Ntaw — National Tyre & Wheel — FY2022 Earnings Presentation
20 slides from Ntaw's earnings presentation, Aug 31, 2022
Slide 1: 2022 Financial Year Results Presentation
PWN National Tyre & Wheel Driving the Future 2022 Financial Year Results Presentation 31 August 2022
Slide 2: Agenda
Agenda Item Page FY22 Highlights 3 Operational Review 5 Financial Results an Outlook 18 Driving the Future
Slide 3: FY22 Highlights
For personal use only • • • • • • • • • • • •
Slide 4: Financial Highlights FY22 FY21
For personal use only Financial Highlights FY22 FY21 Gross profit margin 28.7% 29.8% Operating costs as a % of revenue 21.4% 19.8% EBITDA ($ million) 40.5 46.1 EBITDA margin 7.3% 10.0% NPATA* ($ million) 11.1 21.1 Basic EPS (cents) 7.7 17.9 Dividend per share (cents) 4.5 8.0 Net debt ($ million) 60.
Slide 5: For personal use only
For personal use only
Slide 6: Customer Mix
For personal use only • • • B2B - End User B2B - Reseller B2C - Retail Customer Mix Customer Mix Customer Mix • Caravan, truck trailer and farm equipment manufacturers • Tyre speciality retail stores (chains and independents) • Consumers • Commercial truck and bus fleet operators • Mechanical servic
Slide 7: Revenue Segmentation
For personal use only • • • COMMERCIAL CONSUMER COUNTRY REVENUE SEGMENTATION REVENUE SEGMENTATION Consumer Retail South Africa 10% 2% Commercial Retail Commercial New Zealand 18% Wholesale 21% 28% Australia Consumer 77% Wholesale 44% •
Slide 8: Leveraging Australia's largest distribution platform
Leveraging Australia’s largest distribution platform Improved service levels, lower rent (pm2), shared logistics, new management, efficiency and cost focus @ DISTRIBUTION CENTRES & WAREHOUSES WAREHOUSE CONSOLIDATIONS @ BLACK RUBBER RETREADS Who SOUTH AFRICA Consolidation of Melbourne (2) and Sydney
Slide 9: FY22 Supplier Mix by Revenue
For personal use only • FY22 SUPPLIER MIX BY REVENUE • Cooper family (Ex. MT) Mickey Thompson Other suppliers Proprietary brands Other exclusive brands
Slide 10: Digital Transformation
For personal use only Outcomes for NTAW and customers from digital transformation Digital Transformation • • • • • • • • • •
Slide 11: Financial Results
For personal use onily Financial Results rel i
Slide 12: Statement of Profit or Loss
For personal use only Statement of Profit or Loss $'000 FY22 FY21 Key Operating Metrics FY22 FY21 Sales revenue 557,909 461,533 Gross profit margin 28.7% 29.8% Cost of goods sold (397,802) (324,023) Gross profit 160,107 137,510 Operating costs as a % of revenue 21.4% 19.8% 28.7% 29.8% EBITDA margin
Slide 13: FY21-FY22 NPATA Bridge
FY21-FY22 NPATA Bridge Gains from acquired businesses offset by difficult trading conditions Driving the Future NPATA Bridge Ml Increase ll Decrease i Total 45 14.4 15 (10.6) Comments * Black Rubber and Carter's (“FY22 Acquisitions”) contributed $8.0m of EBITDA to the group, mostly in 2H22. + Higher
Slide 14: FY21-FY22 Expenses Bridge
FY21-FY22 Expenses Bridge Costs higher for acquired businesses, additional month of Tyres4U and digital transformation project $ Millions 140 130 120 110 100 90 80 70 93.3 Expense Bridge ™ Increase ™ Decrease ® Total Expenses FY21 3.8 1.0 0.6 120.4 2 | BR & Carters IT (HO) Other Extra Month T4U. HO
Slide 15: Reconciliation of Reported EBITDA to Operating EBITDA
For personal use only Reconciliation of Reported EBITDA to Operating EBITDA $'000 FY22 FY21 Net profit after tax 9,569 20,540 Depreciation and amortisation 20,904 14,278 Finance costs (net) 5,010 2,949 Income tax expense 4,995 8,378 Reported EBITDA 40,478 46,145 Gain on bargain purchase - (596) Acqu
Slide 16: Statement of Financial Position
For personal use only Statement of Financial Position Net debt at 30 June 2022 of $60.0m $'000 June-22 June-21 Net debt to EBITDA of 1.5x Current assets Cash and cash equivalents 35,826 28,905 Net debt to Equity+Debt ratio of 28.8% Receivables 98,425 71,807 Inventory 127,133 101,025 Other current as
Slide 17: Dividends per share
For personal use only • • 9.0 • 8.0 7.0 NTAW currently has $19.4m franking credits available 6.0 cents per share 5.0 4.0 3.0 2.0 1.0 - FY18 FY19 FY20 FY21 FY22 Interim Final Special
Slide 18: Outlook
For personal use only
Slide 19: Outlook
For personal use only • • • • • • • • • • •
Slide 20: Important Information and Disclaimer
Important Information and Disclaimer LX National Tyre & Wheel Driving the Future This presentation may contain certain unaudited financial information in relation to National Tyre & Wheel Limited. As such, it has not been subject to an audit or an audit process or otherwise independently verified. T