Mainfreight Limited · NZX:MFT
Mainfreight — FY2025 Earnings Presentation
16 slides from Mainfreight's earnings presentation, 2025
Slide 1: Mainfreight Limited Full Year Results
MAINFREIGHT LIMITED FULL YEAR RESULTS 31.03.25
Slide 2: Result Summary
Result Summary Revenue $5.24 billion up 11% PBT $383.6 million down 3% Net Profit $274.3 million up 31% Prior year saw non-cash tax accounting adjustment of $69 million People 11,130 up 486 Branches 337 Countries 27 Net Capital Expenditure $234.5 million Discretionary bonus of $30.5 million payable
Slide 3: Full Year Overview
Full Year Overview Satisfactory revenue growth Record result from our Australian businesses – now largest revenue and profit performer Profit decline in New Zealand, Asia and Americas Margin performance impacted by higher property overheads / competitive market conditions Eight new facilities comple
Slide 4: Dividend
Dividend Directors have approved a final dividend of 87.0 cents per share Full dividend for year = 172.0 cents per share Books close 11 July 2025 Payment on 18 July 2025 “Continue to be comfortable with current level of dividend”
Slide 5: Capital Management
Capital Management Operating Cash Flows remain satisfactory $584 million v $505 million last year Net Capex $234 million - $111 million on property Increased on half year estimate - timing Net Funds at $14 million “cash at hand” Bank debt of $125 million, from a total available facility of $504 mill
Slide 6: Future Capital Expenditure Update: F26-27
Future Capital NZ$ MILLION F26 NZ$ MILLION F27 Expenditure Planned Capital Expenditure $202.9 Planned Capital Expenditure $247.2 Update: ▪ Property $ 98.2 ▪ Property $123.6 F26 -27 ▪ Fit-out costs $ 44.7 ▪ Fit-out costs $ 63.5 ▪ Non-property capex $ 60.0 ▪ Non-property capex $ 60.0 Property and Fit-
Slide 7: Beach Road (owned)
Beach Road (owned) - 22,000 sq metres - 24,000 pallet capacity – 50% utilised currently - Dangerous Goods Warehouse - Built to highest standard practicable for a major hazardous facility - Networks alongside Chemcouriers for distribution
Slide 8: Our Core Products (NZ$) FY 2025
Our 3 Core Products (NZ$) FY 2025 TRANSPORT Revenue $2,262.86 million 3.4% PBT $169.79 million 1.6% Total tonnes increased 4% Consignment counts increased in all regions other than New Zealand Australia performance increased in volume and consignments – reflecting market share increases WAREHOUSING
Slide 9: Full Year 2025 Analysis
Full Year 2025 Analysis NZ$000 Revenue* Var % Profit before Tax Var % New Zealand NZ$ 1,158,860 3.1% 134,518 9.5% Australia AU$ 1,507,349 16.5% 137,447 7.0% Americas US$ 665,769 4.2% 15,219 30.0% Europe EU€ 602,794 8.2% 30,969 11.0% Asia US$ 126,241 30.8% 9,813 29.4% Group NZ$ 5,236,437 11.0% 383,57
Slide 10: New Zealand
New Zealand • Significant down trading of many customers TRANSPORT • Continue to improve market share offsetting some down trade • Rail supply issues necessitated more road units North Island to South Island with resulting freight imbalance impacting margins • Three new cross-dock investments in Auc
Slide 11: Australia
Australia • Continuing to grow market share across express LTL distribution/wharf cartage and FTL TRANSPORT opportunities • Regional branch profitability improving providing confidence to continue regional expansion • Construction has commenced for Brisbane and Townsville cross-docks • Improving pro
Slide 12: Americas
Americas • Gross margins impacted by poorer than expected linehaul utilisation and extended delivery areas TRANSPORT • Cross-docks in Chicago and Dallas fully operational – added property costs – additional sites on hold until profitability improvements are found • All sites excluding New Jersey wel
Slide 13: Europe
Europe • Volume improvement through second half of the year TRANSPORT • Performance across France, Poland and Romania continuing to disappoint • Network intensification in Netherlands yet to fully realise benefits • Less activity in Belgium and core Netherlands sites WAREHOUSING • UK Warehousing dev
Slide 14: Asia
Asia • Stronger freight volume growth particularly Asian controlled sales • Poorer than expected margin and profitability performance • Higher expectations and increased inquiry for Southeast Asia and India trade as a consequence of tariff controversy • Diversifying trade lane development to offset
Slide 15: Outlook
Outlook • Trading April and May disappointing • Short trading weeks • US tariff implications • Supply chain customer developments improving • Top 500 utilising all three divisions increased from 37% to 39% • Sales gains continue to be satisfactory • Overhead and labour cost management focus • Cautio
Slide 16: To Close
To Close Annual Meeting of Shareholders - 30 July 2025 F26 – 6 months ended 30 September 2025 - 12 November 2025