Eagers Automotive Limited · ASX:APE
Eagers Automotive — FY2024 Earnings Presentation
40 slides from Eagers Automotive's earnings presentation, Feb 27, 2025
Slide 1: For personal use only
For personal use only Eagers Automotive Limited T (07) 3608 7100 Registered Office Postal Address ABN 87 009 680 013 F (07) 3608 7111 5 Edmund Street, PO Box 199, ASX: APE E corporate@eagersautomotive.com.au Newstead Fortitude Valley W www.eagersautomotive.com.au QLD 4006 QLD 4006
Slide 2: FY 2024 Results
eQogels .. “ automotive FY 2024 Results Keith Thornton | Chief Executive Officer Sophie Moore | Chief Financial Officer Sz0% AUYWNUGAd LZ
Slide 3: Agenda
For personal use only Agenda Overview Financial Operational Strategy Outlook Q&A CQ Sieivtive
Slide 4: Financial highlights FY 2024
Financial highlights FY 2024 For personal use only =a Revenue $11.2bn => =©) ama Underlying EBITDAI $550.4m —" Statutory PBT $335.6m & Available Liquidity $773.9m s Underlying Operating PBT” $371.2m ii Es Owned Property?) $885.4m % i= Return on Sales (Underlying) 3.3% © Ordinary Final Dividend 50.0
Slide 5: Building an enduring and growing competitive advantage
| use only Building an enduring and growing competitive advantage Execution of Next100 Strategy Building an optimised business model to maximise operating leverage — Order Write Market Dynamics = Delivery ne BS -Or persona Sun- 24, N 2 Pre-covid Dec-20 Dec-21 Dec22 Dec-23 Dec2s fer Bank _eluan Jan-2
Slide 6: Maturation of our business model
Maturation of our business model A multi-year transformation For.personal use only Reinvest with discipline Engage our customers everywhere Redefine our workforce Support innovation Deliver optimised Bon vehicle finance solutions OF LFL Headcount (#)" 8321 6,878 ()LFL excludes all acquisitions, dive
Slide 7: Financial Results
eqacers .. qutomotive Financial Results
Slide 8: Full year 2024 summary P&L
Full year 2024 summary P&L For personal use only S$ Million Underlying Operating Results Revenue from continuing operations Underlying operating EBITDAI from continuing operations" Underlying operating EBITDAI margin Underlying operating PBT from continuing operations” Specific items reported below
Slide 9: Inventory levels and market dynamics
For personal use only Inventory levels and market dynamics New Vehicle Days Supply December 2023 to December 2024 CA — “o—o © Inventory Levels December 2023 to December 2024 218.2 ___ 1878.0 ‘S) © 14.3% Cash Rate December 2024 & Forecast 44% 55% guy 77 LT Average 1620.0 FY23 reported LPL Acquisition
Slide 10: Executing balanced capital management
Executing balanced capital management 3 Long term consistent track record of maximising shareholder returns Capital 1 2 2 Framework Cc Invest in the business ‘alue accretive fo) l in the busi: Vali ive M&A ® 2) =) © Capex and proprietary Disciplined Cc technology investment approach to M&A (eo) to d
Slide 11: Strong balance sheet enables investing in growth
Strong balance sheet enables investing in growth Balance Sheet Strength Cash 94,2 209.1 197.6 190.4 $ Million Net Debt 315.8 129.3 128.4 253.5 Property” 267.2 363.9 467.0 607.6 oo Available Liquidity 205.0 683.2 7331 6311 Gearing 115 0.29 0.28 0.54 Since December 2023 Real property accelerating busi
Slide 12: Operational Update
@) egoers . “| qutomotive Operational Update
Slide 13: For personal use only
For personal use only Dec-24 Jan-25
Slide 14: Inventory levels and new car market dynamics
Inventory levels and new car market dynamics New entrants Market > New Vehicle conditions Continued emergence of China —_ Global alliances & evolution of OEM go-to- om Days Supply market strategies fe) jecember New Vehicle Efficiency Standard to December 2024 ®o Market continues to be dominated by T
Slide 15: Resilience of the Automotive Retail Model
Resilience of the Automotive Retail Model Key Levers 2D ndustry Dynamics Cc fo) New Car Volume @ New Car GPU Nn 5 Used Car Volume —= Used Car GPU © Parts Department PBT je) pee New F&I Penetration (0) ios SI nm I Service Department PBT n p Trough gross margins occurred in 2H24. Eagers’ transformed b
Slide 16: Focused on controllable costs
Focused on controllable costs Evidencing benefits of scale and disciplined cost management For personal use only 13.5% 14.0% Eagers Management 13.9% 13.7% 18.5% 13.2% 14.2% Eagers Management 13.7% 13.4% 13.2% 13.0% Fyib FYI6 FY FYIB Frig FY20 Fy21. FY22 oY excludir FY23 FY24 Technology enabled produ
Slide 17: The net margin outcome
| use only LE -Or persona The net margin outcome Underlying Return on Sales (ROS) (core like-for-like on a 3-yr basis) 0.7% TT Z 0.3% 0.9% se Oe ee Upside Ml ROS Underlying Underlying Acquisitions © Greenfield Retail Joint ~— Independent ~—_ Underlying Core LFL Core LFL Venture Used FY24 “e “ oe e C
Slide 18: Strategic Priorities
eqacers .. “ qutomotive Strategic Priorities
Slide 19: Optimisation of business model and clear growth strategy
Optimisation of business model and clear growth strategy For personal use only Optimisation Building an optimised business model to maximise operating leverage Engage our Deliver optimised customers, Redefine our vehicle finance Support Reinvest with everywhere workforce solutions innovation discipl
Slide 20: New vehicles / Used vehicles
For personal use only New vehicles Used vehicles • • • •
Slide 21: ROS Upside
For personal use only ROS Upside
Slide 22: ROS Upside
For personal use only ROS Upside
Slide 23: Days to Sell - AU Market
For personal use only Days to Sell- AU Market
Slide 24: Unique business model and competitive advantage
Unique business model and competitive advantage Lead indicators demonstrate business platform to support further growth 2023 HE24 H2-24 Customer Sourced — External — B2B Purchases (DFR) ee ee 2022 2023 HE24 H2-24 Delivered Volume — Avg Inventory [lll Days To Sell Unique sourcing channels from Franch
Slide 25: Strong record of sustainable growth
Strong record of sustainable growth Growing easyautol23 Where we're going 9025 Outlook Turnover Underlying Profit Return on Sales Pool of Gross per Unit Cost Base per Unit © dustate New Zealand The ttre Finance Income PVR a a) act & Purpose-built end- Realestotelight —__Digitoliinteraction Economica
Slide 26: easyauto123 as a potential growth driver
easyauto123 as a potential growth driver 600,000 Every 1% uplift new vehicle = inreferral ay through customer touch conversions is asyaut points annually ‘an additional 6k units 70% retailed $30k average sales price 23° @ per unit i : b 5 Vehicle Inventory Sourcing Management Incremental revenue opp
Slide 27: Outlook
eqoers .. “ automotive Outlook
Slide 28: Building an enduring and growing competitive advantage
Building an enduring and growing competitive advantage personal gase only Eor Brand Portfolio (#) Owned Property ($'m) Owned Property vs Lease LFL Leases Exited (#) LFL Headcount (#) Productivity ($'000 / Headcount) +49% Retail Joint Venture ($'m) Independent Used ($'m) Underlying ROS (%) Building a
Slide 29: Growth opportunities
2 nal_use 2 Eor a Growth opportunities Franchised Automotive e Independent Used New Distribution Models Investing in Enablers / Adjacent 28 | Eagers Autom Consolidation Rationalisation Evolution Scaling existing business model Changing OEM go-to-market strategies Adjacent markets: Finance, novated,
Slide 30: Industry and Eagers Dynamics - Outlook for FY25
Industry and Eagers Dynamics - Outlook for FY25 For personal use only Industry Turnover Business Dynamics a Units Full year 2025 outlook a 1.194 FY25 Outlook 9.852 Turnover ROS 8.542 New Car Volume (S) | Underlying Core ® (S) 2022 2023 2024 2025 FCST New Car GPU iS) Acquisitions ® ® Used Car Volume
Slide 31: Thank you
CQgers |. \ automotive Thank you
Slide 32: Questions?
For personal use only QUESTIONS?
Slide 33: Disclaimer
e only For personal us Disclaimer The information in this document (information) does not contain all information necessary for investment decisions, is not intended to be an offer, invitation or recommendation with respect to shares, is not financial product advice, and is intended to be general ba
Slide 34: Appendix
eqoers .. “ automotive Appendix
Slide 35: Statutory to Underlying EBITDAI & PBT - FY 2024
For personal use only Statutory to Underlying EBITDAI & PBT - FY 2024 $ Million FY24 EBITDAI Depn & Amort Interest Expense Interest Income Impairment PBT Tax Expense Underlying Operating Impairment AASB16 Lease Standard Business Acquisition, Divestment & Integration Costs Sale of Assets Miscellaneou
Slide 36: Statutory to Underlying EBITDAI & PBT - FY 2023
For personal use only Statutory to Underlying EBITDAI & PBT - FY 2023 $ Million FY23 EBITDAI Underlying Operating 546.0 Impairment - AASB'6 Lease Standard 1419 Business Acquisition, Divestment & Integration 30) ~, (2.9) Costs Sale of Assets 40 Miscellaneous (0.6) Total Significant Items 142.5 Statut
Slide 37: Definitions
For personal use only Definitions
Slide 38: Definitions
For personal use only Definitions
Slide 39: Definitions
For personal use only Definitions
Slide 40: For personal use only
CQgelrs _. automotive