Slide 1: A.P. Eagers 2013 First Half Results
For personal use only A.P. Eagers 2013 First Half Results September 2013 Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 2: 2013 Half Year Highlights
2013 Half Year Highlights For personal use only • Record statutory EPS up 12% • Record statutory NPAT of $31.4m up 23% • Record Full Franked interim dividend of 8.0 cents up 14% • Internal improvements in Parts & Service offset weaker vehicle margins • Increased returns being achieved from Adtrans a
Slide 3: Status of Industry New Vehicle Sales YTD July 2013
Status of Industry New Vehicle Sales YTD July 2013 For personal use only • July YTD up 4.6% • Private sales July YTD up 9.9% • Heavy commercial July YTD up 5.0% • Diesel sales up, Hybrid and LPG down • Vehicle sales from China 4854 July YTD down 36% Monday, September 02, 2013 © 2013 AP Eagers Limite
Slide 4: Status of Automotive Retail Industry YTD August 2013
Status of Automotive Retail Industry YTD August 2013 For personal use only • Strong sales but at a cost • Retail Industry going through cyclical changes (Normal) • Franchise structure ie Dealer/Manufacturer Partnership always adjusts to the market place – however never instantly. • An increased numb
Slide 5: Yen relativity for Consumers
Yen relativity for Consumers For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 6: Thai Baht relativity for Consumers
Thai Baht relativity for Consumers For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 7: Korean Won relativity for Consumers
Korean Won relativity for Consumers For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 8: Euro relativity for Consumers
Euro relativity for Consumers For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 9: Reducing disadvantage for Australian sourcing/exports
Reducing disadvantage for Australian sourcing/exports. For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 10: Interest Rate Trend
Interest Rate Trend For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 11: 2013 Half Year Highlights - Financial
2013 Half Year Highlights - Financial For personal use only • Record statutory EPS up 12%. • Record statutory NPAT of $31.4 million up 23%. • Fully franked interim dividend of 8.0 cents. • EBITDA of $60.6 million up 11%. • NPBT increased by 13% to $42.0 million. • Cash flow from operations of $57.7
Slide 12: Earnings Per Share
Earnings Per Share For personal use only * Monday, September 02, 2013 * Dilution mostly related to AHG investment © 2013 AP Eagers Limited. All Rights Reserved.
Slide 13: Financial Summary
Financial Summary For personal use only $ Million 1H 2013 1H 2012 Change Revenue 1,349.4 1,297.8 Up 4% EBITDA 60.6 54.9 Up 11% EBIT 54.3 49.3 Up 10% PBT 42.0 37.2 Up 13% PAT 31.4 25.6 Up 23% Cash from operating 57.7 32.3 Up 79% activities NTA/share 2.15 1.74 Up 24% Net gearing excluding 27.6% 28.6%
Slide 14: Balance Sheet - Summary
Balance Sheet - Summary For personal use only 30/06/13 • New vehicle inventory and $m receivables funded by CA-CL (excl. held for sale) 87.7 bailment debt. • Parts and most used vehicle Freehold Property (incl. held for 326.6 sale) inventory is balance sheet Other Non Current 203.1 funded. Tangible
Slide 15: Financial Trends
Financial Trends For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 16: Financial Trends
Financial Trends For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 17: Financial Trends
Financial Trends For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 18: Financial Trends
Financial Trends For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 19: Strategy (Focus: Grow EPS & Pay Larger Dividends)
Strategy (FOCUS: GROW EPS & PAY LARGER DIVIDENDS) For personal use only Exceed stakeholder expectations – Growth by selective customers, employees, acquisition partners (manufacturers), shareholders and community. Development of enhancements and complimentary services Business Optimisation – continu
Slide 20: Strategy: Business Optimisation – Short Term
Strategy (FOCUS: GROW EPS & PAY LARGER DIVIDENDS) For personal use only • Business Optimisation – Short Term • Internal Improvements in Parts and Service offset weaker new vehicle margins. • Pruning, Hidden Valley Ford divested. • Jaguar Land Rover added to Brookvale cluster (May 2013). • VW being a
Slide 21: Jaguar Land Rover Brookvale
Jaguar Land Rover Brookvale For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 22: Proposed Cardiff Cluster NSW
Proposed Cardiff Cluster NSW For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 23: Strategy (Focus: Grow EPS & Pay Larger Dividends)
Strategy (FOCUS: GROW EPS & PAY LARGER DIVIDENDS) For personal use only Exceed stakeholder expectations – customers, employees, Growth by selective partners (manufacturers), acquisition shareholders and community. Development of enhancements and complimentary services Business Optimisation – continu
Slide 24: Strategy: Enhancement & Complimentary Services
Strategy (FOCUS: GROW EPS & PAY LARGER DIVIDENDS) For personal use only • Development of Enhancement & Complimentary Services – Medium / Long Term • MTAI Insurance (25yrs old, APE 21%) • www.carsguide.com.au (21mths old, APE 7.5%) • www.carzoos.com.au (17mths old APE 100%) Monday, September 02, 2013
Slide 25: Used car buying you can’t get wrong
Used car buying you can’t get wrong. For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 26: Strategy: Enhancement & Complimentary Services
Strategy (FOCUS: GROW EPS & PAY LARGER DIVIDENDS) For personal use only • Development of Enhancement & Complimentary Services – Medium / Long Term • MTAI Insurance (25yrs old, APE 21%) • www.carsguide.com.au (21mths old, APE 7.5%) • www.carzoos.com.au (17mths old APE 100%) • Precision Automotive Tec
Slide 27: For personal use only
For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 28: Strategy (Focus: Grow EPS & Pay Larger Dividends)
Strategy (FOCUS: GROW EPS & PAY LARGER DIVIDENDS) For personal use only Exceed stakeholder expectations – customers, employees, Growth by selective partners (manufacturers), acquisition shareholders and community. Development of enhancements and complimentary services Business Optimisation – continu
Slide 29: Main North Nissan & Renault and Unley Nissan & Renault (Adelaide)
Main North Nissan & Renault and Unley Nissan & Renault (Adelaide) For personal use only Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 30: The Next Months
The Next 12 Months For personal use only • Post election confidence is expected to offset pre-election and FBT uncertainty in July/August • Consistent strategy – further business optimisation particularly after implementation of Precision Automotive Technology strategy. • Consistent strategy – curre
Slide 31: A.P. Eagers Company Profile
For personal use only A.P. Eagers COMPANY PROFILE Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 32: AP Eagers Today
AP Eagers Today For personal use only •100 year old automotive retail group founded in 1913 •55 years as a listed public company – dividend paid every year •A.P. Eagers owns more than 70 acres of prime real estate with land and buildings of $327m (June 2013) •Represents all 12 of the top 12 selling
Slide 33: AP Eagers Investments
AP Eagers Investments For personal use only • 20.7% ownership of MTAI Insurance Company (Since 1985) • 7.5% ownership of www.carsguide.com.au (Nov 2011) • 19.5% ownership of Automotive Holdings Group (July 2012) Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 34: AP Eagers Volume Car Brands
AP Eagers Volume Car Brands For personal use only Represents 12 of the top 12 selling volume car brands in Australia Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 35: AP Eagers Luxury Car Brands
AP Eagers Luxury Car Brands For personal use only Represents 8 of the top 9 selling luxury car brands in Australia Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 36: AP Eagers Truck and Bus Brands
AP Eagers Truck and Bus Brands For personal use only Representing 10 truck and bus brands Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.
Slide 37: Revenue by State / % of group Revenue (2012)
Revenue by State / % of group Revenue (2012) For personal use only AP Eagers $2.6 billion revenue $0.15bn (6%) $1.13bn (44%) $0.0bn $0.53bn (20%) $0.62bn (24%) $0.16 BN (6%) $0.0 BN Monday, September 02, 2013 © 2013 AP Eagers Limited. All Rights Reserved.