Bapcor Ltd · ASX:BAP
Bapcor — Macquarie Conference Sydney 2019
20 slides from Bapcor's conference presentation, Apr 29, 2019
Slide 1: ASX Release: Macquarie Conference Sydney 30th April 2019
Bapcor Limited (ASX: BAP) For personal use only ASX Release 29 April 2019 Macquarie Conference Sydney 30th April 2019 Bapcor Limited (Bapcor) advises that its CEO & Managing Director, Mr Darryl Abotomey has had to withdraw from presenting at the Macquarie Investor Conference in Sydney on Tuesday 30t
Slide 2: Macquarie Conference – Sydney - April 30, 2019
For personal use only Macquarie Conference – Sydney - April 30, 2019
Slide 3: Disclaimer
Disclaimer For personal use only The material in this presentation has been prepared by Bapcor Limited (“Bapcor”) ABN 80 153 199 912 and is general background information about Bapcor’s activities current at the date of this presentation. The information is given in summary form and does not purport
Slide 4: H1 FY2019 Headline Results – it was a record result
H1 FY2019 Headline Results – it was a record result ! For personal use only 3.2% 8.2% 6.6% 5.9% Revenue EBITDA NPAT EPS Up 3.2% to $636.1M Up 8.2% to $76.0M Up 6.6% to $43.1M Up 5.9% to 15.34 cps (continuing ops) (proforma continuing ops) (proforma continuing ops) (proforma continuing ops) Up 13.2%
Slide 5: H1 FY2019 Financial Highlights
H1 FY2019 Financial Highlights For personal use only H1 FY19 H1 FY18 Variance Continuing Operations Revenue $’M 636.1 616.1 3.2% Gross Margin % 47.1% 45.6% 1.5 pp EBITDA – proforma $’M 76.0 70.2 8.2% Every EBITDA % 11.9% 11.4% 0.6 pp performance NPAT – proforma $’M 43.1 40.4 6.6% EPS – proforma cps
Slide 6: H1 FY2019 Operational Highlights
H1 FY2019 Operational Highlights For personal use only A record first half result in Revenue, Earnings and EPS, in challenging economic conditions. NPAT growth negatively impacted by 2.5% due to the divestment of TRS on 3 July 2018. The FY18 profit contribution of TRS is expected to be fully off
Slide 7: Business Segment Contribution to Results
Business Segment Contribution to Results For personal use only Total Auto Revenue Total Auto EBITDA H1 FY19 H1 FY18 H1 FY19 H1 FY18 80% 83% 25% 24% 29% 28% $636M 51% $616M 53% $76M $70M 58% 58% 17% 18% 20% 19% 6 ”Australasia’s leading provider of aftermarket parts, accessories, equipment and service
Slide 8: Summary of Key Performance Indicators
Summary of Key Performance Indicators For personal use only Revenue * EPS (cps) * 1,236.7 31.0 1,013.6 24.4 based on extrapolated H1 685.6 17.9 616.1 636.1 15.3 13.6 14.5 435.1 10.6 375.3 322.2 8.0 6.6 185.0 FY2015 FY2016 FY2017 FY2018 FY2019 FY2015 FY2016 FY2017 FY2018 FY2019 NPAT * Dividends per s
Slide 9: Current Year Forecast
For personal use only CURRENT YEAR FORECAST 8 ”Australasia’s leading provider of aftermarket parts, accessories, equipment and services”
Slide 10: FY19 Financial Year Forecast
FY19 Financial Year Forecast For personal use only For the full FY19, Bapcor continues to forecast an increase NPAT of circa 9% above FY18 proforma NPAT – i.e. Circa $94.3million - THIS HAS NOT CHANGED This guidance delivers a record full year result in Revenue, Earnings and EPS. Full Year cash conv
Slide 11: Comments on current performance
Comments on current performance For personal use only • Overall market remains softer than historically • Competition continues in every sector and fighting for business – nothing new here!! This is normal for any business. • In trade, market share gain is not as high as historically, BUT NOT LOSING
Slide 12: Strategy & Industry Fundamentals
For personal use only STRATEGY & Industry Fundamentals 11 ”Australasia’s leading provider of aftermarket parts, accessories, equipment and services”
Slide 13: Bapcor Year Strategic Targets
Bapcor 5 Year Strategic Targets For personal use only NO CHANGE TO GROWTH STRATEGY 12
Slide 14: Growth Strategy
Growth Strategy For personal use only All current business segments; Grow sales Organic Store Footprint Expansion Margin Procurement / Buying Pricing Management Own Brand Intercompany Operating Efficiencies Strategic Acquisitions / Expansion 13 “Australasia’s leading provider o
Slide 15: Strategy
Strategy For personal use only Consistent strategy with specific, clear, measurable targets. No changes to direction. We know what we do best and stick with it. 14 “Australasia’s leading provider of aftermarket parts, accessories, equipment and services”
Slide 16: Continued growth of the Australian Car Parc
Continued growth of the Australian Car Parc… For personal use only Estimated 19.5m registered vehicles at the end of 2018, an increase of 2% on 2017 Average age of vehicles stable at 11 years New vehicle sales in 2018 were 1.15m, down 3% on 2017 and ending four years of YoY growth 60% of new
Slide 17: Impact of Electric Vehicles (EVs)
Impact of Electric Vehicles (EVs)… For personal use only Facts do not support rhetoric!!!! For EVs to reach 50% of New Car Sales by 2030, 60% year on year sales growth in electric cars is required – and at that point only 7% on road will be electric!! EVs reach 50% of EVs reach 50% of New Car Sale
Slide 18: Impact of Electric Vehicles (EVs)
Impact of Electric Vehicles (EVs)… Do you remember the LPG usage forecasts????? Where are these today? For personal use only For EVs to reach 50% of New Car Sales by 2040, 30% year on year sales growth is required – and at that point only 12% of cars on road will be electric!! Australian Car Parc
Slide 19: Bapcor Thailand
Bapcor Thailand For personal use only • Now operating 4 stores in Bangkok district • A further 2 new stores planned pre June • Stores making positive progress in new market dynamics • Good relationships being established with a significant chains presenting good growth opportunities as we grow more
Slide 20: For personal use only
For personal use only 19 ”Australasia’s leading provider of aftermarket parts, accessories, equipment and services”