Maxiparts Limited · ASX:MXI
Maxiparts — MaxiTRANS Industries — H1 FY2014 Earnings Presentation
14 slides from Maxiparts's earnings presentation, Feb 24, 2014
Slide 1: MaxiTRANS Industries Limited Half Year Ended 31st December 2013
MaxiTRANS Industries Limited Half Year Ended 31st December 2013 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 1H12 2H12 1H13 2H13 1H14 *1H12 *2H12 1H13 2H13 1H14 *Note: Excludes impact of restructuring charges and non-operating gains. 2
Slide 3: 1H14 Overview
1H14 Overview For personal use only • 1H14 NPAT $10.2m - in line with market guidance • Revenue down 4% on pcp • Cautious economic environment saw trailer order intake down 10% on pcp, however signs of improvement by end of 1H14 • Trailer margins adversely impacted by reduced trailer demand and incr
Slide 4: Financial Highlights
Financial Highlights For personal use only 1H12 1H13 1H14 % change on $000 $000 $000 1H13 Revenue 134,117 189,867 181,371 -4% EBITDA 11,612 22,189 17,528 -21% NPBT 8,329 17,993 14,086 -22% NPAT 6,109 12,902 10,348 -20% Non-controlling interests (92) (82) (96) +17% NPAT attributable to MXI 6,017 12,8
Slide 5: Financial Highlights (cont)
Financial Highlights (cont) For personal use only 1H12 1H13 1H14 % change on $000 $000 $000 1H13 Operating cash flow 9,678 5,389 9,406 +75% Net debt 3,380 29,624** 28,185 -5% Net debt/equity % 3% 27% 23% -4 %points EPS (basic) (cents) 3.27 6.97 5.57 -20% Interim dividend declared 2.00 4.25 3.75 -12%
Slide 6: Parts & Service
Parts & Service For personal use only • Revenue down 2% on pcp • Segment profit down 24% on pcp driven by • Gladstone (largest store) adversely impacted by shift in resources activity from construction to operation • Weakening AUD creating margin pressure in an already soft parts market • Acquisitio
Slide 7: Parts & Service (cont.)
Parts & Service (cont.) • New Branches opened/acquired For personal use only • Mackay (greenfield store) (November, 2013) • Central Coast NSW (acquisition) (December, 2013) • Ingleburn (relocation & upgrade to include retail) (December, 2013) • Wagga Wagga (acquisition) (March 2014) • Dubbo (acquisi
Slide 8: Trailers
Trailers For personal use only • Order intake down 15% on pcp but up 3% on 2H13 • Margins impacted by aggressive pricing by competitors • New Freighter AutoHold to be launched April ‘14 • Better market outlook since January 2014 Freighter AutoHold Vans • Order intake down 17% on pcp • Order bank sof
Slide 9: Tippers
Tippers For personal use only • Order intake down 16% on pcp but up 37% on 2H13 • Stronger performance in construction sector • Agricultural demand continues to be weak with the impact of the drought in Qld & NSW • Strengthened Hamelex White distribution: • Appointed Trailer Sales as a Hamelex White
Slide 10: International Operations - New Zealand
International Operations For personal use only New Zealand • Market strengthening with general economic improvement (Trailer market in 1H14 up 20% vs. 2H13) • 1H14 order intake up 103% on 2H13 • Order bank continues to strengthen, rising since July 2013. New Zealand Freighter Models: • B-Train Curta
Slide 11: International Operations - MTC Yangzhou, China
International Operations For personal use only MTC – Yangzhou, China • Relocation to new factory now complete • Contribution in 1H14 adversely impacted by the shutdown of the old facility and commissioning of the new one • Underlying demand for the product in China is still strong and we expect impr
Slide 12: Dealerships & Joint Ventures
Dealerships & Joint Ventures For personal use only Transport Connection (80%): Trailer Sales Qld (36.67%): • Acquired Sept. 2012 • Qld dealer for Freighter, Maxi- CUBE, Hamelex White (& • Now sells all MXI trailer AZMEB in Nth.Qld.) brands under the one roof • Contribution up 11% on pcp • Multi bran
Slide 13: Outlook
Outlook FY13 For personal use only • Order intake strengthening, but markets expected to remain challenging • Launch of new Freighter AutoHold April 2014 • Drought continuing to impact tipper demand in Qld and Northern NSW • Recovery expected in Parts and Service business with new acquisitions and c
Slide 14: For personal use only
PENI /US7Y EM$Z@ HamelexWhite .\|AIMEB (@)MaxiPARTS | PANEL Petey A®REIGHTER
MaxiTRANS Industries — H1 FY2014 Earnings Presentation on 6ix