Maxiparts Limited · ASX:MXI
Maxiparts — MaxiTRANS Industries — H1 2015 Earnings Presentation
14 slides from Maxiparts's earnings presentation, Feb 20, 2015
Slide 1: MaxiTRANS Industries Limited Half Year Ended 31st December 2014
MaxiTRANS Industries Limited Half Year Ended 31st December 2014 For personal use only
Slide 2: Financial Highlights
Financial Highlights For personal use only Sales $M NPAT $M 200 14 180 12 160 140 10 120 8 100 6 80 60 4 40 2 20 0 0 1H13 2H13 1H14 2H14 1H15 1H13 2H13 1H14 2H14 1H15 2
Slide 3: 1H15 Overview
1H15 Overview For personal use only • 1H15 NPAT $5.0m - in line with market guidance • NPAT includes $840k (after tax) cost associated with MaxiPARTS product recall initiated in 1H15 • Revenue down 5% on pcp • Aggressive discounting across all trailer brands • Significant decline in resources sector
Slide 4: Financial Highlights
Financial Highlights For personal use only 1H13 1H14 1H15 % change on $000 $000 $000 1H14 Revenue 189,867 181,371 172,022 -5% EBITDA 22,189 17,528 10,673 -39% NPBT 17,993 14,086 6,708 -52% NPAT 12,902 10,348 5,084 -51% Non-controlling interests (82) (96) 2 -102% NPAT attributable to MXI 12,820 10,25
Slide 5: 1H15 v 1H14 Profit Movement
1H15 v 1H14 Profit Movement For personal use only 1H14 NPAT $10,348 Gross Profit decline ($3,143) MaxiPARTS Product Recall ($840) MaxiPARTS Store expansion ($784) Other Costs ($497) 1H15 NPAT $5,084 Presented in after tax dollars 5
Slide 6: Financial Highlights (cont)
Financial Highlights (cont) For personal use only 1H13 1H14 1H15 % change on $000 $000 $000 1H14 Operating cash flow 5,389 9,406 10,682 +14% Net debt 29,624** 28,185 34,334 +22% Net debt/equity % 27% 23% 28% +5ppts EPS (basic) (cents) 6.97 5.57 2.75 -50% Interim dividend declared 4.25 3.75 2.00 -47%
Slide 7: Parts & Service
Parts & Service • Segment revenue is in line with pcp however, Parts For personal use only revenue down 5.5% on pcp • Customer loyalty program gaining traction to improve market share • Segment profit down 59% on pcp driven by • Significant decline in Qld parts market driven by reduced resources, ag
Slide 8: Trailers
Trailers For personal use only • Unit sales up 3% on pcp • General freight market soft and adversely affected by weak economy • Aggressive sales strategy succeeding – winning new customers through Conquest Customer program Freighter AutoHold • Strong orders from major fleets • Order bank up 23% on e
Slide 9: Vans
Vans For personal use only • Strong sales due to strong order intake late 2H14 (unit sales up 17% on pcp) • New customers won through targeted Conquest Customer program • New “Premium Pack” model well received • 53ft PBS units well accepted. Drop Deck B-Double – Dry Freight 53 ft, 26 Pallet, PBS Ree
Slide 10: Tippers
Tippers For personal use only • Unit sales down 31% on pcp • Demand depressed by: • Significant contraction in the resources sector • Drought affected agricultural sector • Low infrastructure construction activity • Very aggressive market pricing significantly impacting margins • Sales and distribut
Slide 11: International Operations
International Operations For personal use only New Zealand • A return to strong profitability • Unit sales up 27% on pcp and revenue up 90% on pcp reflecting favourable product mix • Market share gains achieved in the period under review (from 8.1% to 9.8%). Slide-A-Side Trailer and Truck Body 11
Slide 12: International Operations
International Operations For personal use only MTC – Yangzhou, China (80% owned JV) • Revenue up 25% on pcp • Reduced profit compared to pcp due to increased cost of operating new facilities (note, pcp profit based on old site) • Aggressive approach being taken to rapidly expand export market opport
Slide 13: Outlook FY15
Outlook FY15 For personal use only • Soft economic environment driving continued subdued business confidence and low demand for heavy road transport equipment • Focus on operational efficiency and gaining market share • Tipper markets expected to remain soft, new market and customer opportunities be
Slide 14: For personal use only
@#REIGHTER WaxieuBe) "FM EWS zg HamelexWhite .\|ATMEB ()Maxiparts Y Gives