Maxiparts Limited · ASX:MXI
Maxiparts — MaxiTRANS Industries — FY2014 Earnings Presentation
15 slides from Maxiparts's earnings presentation, Aug 22, 2014
Slide 1: MaxiTRANS Industries Limited Year Ended 30th June 2014
For personal use only MaxiTRANS Industries Limited Year Ended 30th June 2014
Slide 2: 2014 Year in Review
2014 Year in Review • A soft and challenging market resulting in: For personal use only − Revenue of $351 million, down 3% on prior year − NPAT attributable to MXI Equity Holders $17 million in line with the trading update in April, ‘14 • Margins adversely impacted by: − Low trailer demand driving i
Slide 3: Financial Highlights
Financial Highlights For personal use only FY11 - FY13 FY14 % change FY14 $000 $000 on FY13 CAGR Revenue $362,534 $351,968 -3% 20.2% EBITDA $44,219 $30,594 -31% 40.0% NPBT $36,358 $23,172 -36% 74.7% NPAT attributable to MXI equity $25,965 $17,075 -34% 60.0% holders * Excludes impairment charges and
Slide 4: Financial Highlights (cont.)
Financial Highlights (cont.) For personal use only FY13 FY14 % change on $000 $000 FY13 Operating cash flow $23,543 $16,612 -29% Net debt $24,601 $37,539 52.6% Net debt/equity % 21% 31% 10 ppts EPS (basic) (cents) 14.11 9.26 -34.4% Total dividends declared 8.5 6.0 -29.4% (cents) Total dividend as %
Slide 5: Parts & Service continues to grow contribution to Group results
Parts & Service continues to grow contribution to Group results For personal use only • Parts & Service contributed 39% of the group result, up from 35% in FY13 • Non-recurring items dampened Parts & Service profit contribution in FY14 • Expect Parts & Service contribution to continue to increase 5
Slide 6: Major Achievements in FY14
Major Achievements in FY14 • Continued to build national parts network: For personal use only • Acquisition of three parts stores to expand NSW footprint: • Central Coast (Warnervale) • Dubbo • Wagga Wagga • Relocated NSW warehouse and opened new retail store in Moorebank • Opened new greenfield sto
Slide 7: Vans
Vans For personal use only • Slow start to FY14 until order intake strengthened significantly commencing Q2 ‘14 • Solid orders from both large & small fleets • FY14 unit sales down 7.7 % below FY13 but positive mix had revenue 4% above FY13 • Premium Pack Maxi-CUBE launched in Q3 ‘14 • Order bank si
Slide 8: Trailers
Trailers For personal use only • Soft general freight market and reduction in mining investment adversely affected demand AutoHold closing • Competitors discounting heavily punished system margins (4 patents on the overall • FY14 sales down 8% on FY13 design) • New AutoHold trailer well received by
Slide 9: Tippers
Tippers • Most sectors depressed in FY14: For personal use only − Agriculture adversely affected by drought in Queensland and north western NSW − Resources investment decline as projects come online and few new projects in the pipeline • Total tipper sales down 18% on FY13 New Low Tare Hamelex White
Slide 10: New Zealand
New Zealand For personal use only • Strong NZ economy • FY14 sales 48% up on FY13 • Market penetration being achieved with new Freighter strategy & product development • Order bank up 114% on pcp • Improved efficiencies at new factory more capacity & shorter lead times • Van and trailer markets st
Slide 11: Parts & Service
Parts & Service MaxiPARTS Darwin • FY14 Revenue in line with pcp For personal use only (& images below) − Gladstone decline offset by acquisitions and greenfield stores − Australian service and repairs business stronger than prior year • FY14 profit significantly down on pcp due to: – Overall market
Slide 12: Maxi-CUBE Tong Composites (MTC) – Yangzhou, China
Maxi-CUBE Tong Composites (MTC) – Yangzhou, China (80% owned JV) For personal use only • FY14 revenue in line with pcp • FY14 contribution adversely affected by relocation to new factory: – Shutdown old factory – Implement new technology at factory requiring testing and commissioning New MTC Panels
Slide 13: Dealerships & Joint Ventures
Dealerships & Joint Ventures Transport Connection (80%) Trailer Sales (36.67%) For personal use only • FY14 revenue up 60% on FY13 • FY14 contribution down slightly on (accounting for Oct 2012 to June pcp 2013 only) • Appointed Hamelex White distributor • FY14 contribution up 5% on for all of Qld (p
Slide 14: Outlook FY15
Outlook FY15 • Expect market conditions to be similar to FY14 For personal use only • Product design and quality improvements should yield market share gains for the trailer business in FY15 • Expect ongoing optimisation of manufacturing facilities and process improvement to reduce lead times and im
Slide 15: For personal use only
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