Slide 1: MaxiTRANS Industries Limited Year Ended 30th June 2015
For personal use only MaxiTRANS Industries Limited Year Ended 30th June 2015
Slide 2: 2015 Year in Review
2015 Year in Review For personal use only • Despite Australian trailer market declining by an estimated 25% in 2015, MaxiTRANS increased market share: − Revenue of $329 million, down 6.5% on prior year – both Trailers and Parts & Service segments declined − Underlying NPAT attributable to MXI Equity
Slide 3: Financial Highlights
Financial Highlights For personal use only Revenue 400 FY14 FY15 % change 350 $000 $000 on FY14 300 250 AUD$ m 200 150 Revenue $351,968 $329,165 -6.5% 100 50 0 F2012 F2013 F2014 F2015 EBITDA* $30,594 $16,247 -47% Underlying Net Profit After Tax* 30 25 20 NPBT* $23,172 $8,079* -65% AUD$ m 15 10 NPAT*
Slide 4: Financial Highlights (cont.)
Financial Highlights (cont.) For personal use only FY14 FY15 % change on $000 $000 FY14 Operating cash flow $16,612 $12,138 -27% Net debt $37,539 $42,957 14% Net debt/equity % 31% 36% 5 ppts EPS (basic) (cents) 9.26 2.43 -74% EPS – Underlying (basic) 9.26 3.41 -63% (cents) Total dividends declared 6
Slide 5: Financial Highlights (cont.)
Financial Highlights (cont.) For personal use only $000 FY14 NPBT $23,172 SG&A Increase includes: • Company owned NSW dealership commenced Gross Profit (Trading) ($8,951) Q2 FY15 • Warranty costs • Due diligence costs Product Recall ($2,450) • Legal expenses • IT costs Selling General & Admin • Peop
Slide 6: Vans
Vans For personal use only • Strong demand for refrigerated vans in FY15, particularly in grocery and fresh produce sectors • FY15 sales up 24 % on pcp. • Significant cost reductions arising from continuous improvement program on vans enabled competitive pricing whilst retaining strong margins • Str
Slide 7: Trailers
Trailers For personal use only • Continued soft general freight market drove competitors to discount heavily to win business • FY15 sales down 5% on pcp although overall market share improved by 6 percentage points in 2015 • Order bank 12% below pcp, creates more competitive lead times. • Commenceme
Slide 8: Tippers
Tippers For personal use only • Tipper market significantly depressed due to continued drought in Queensland and north western NSW and continued decline in resources and infrastructure activity • Total tipper sales down 53% on pcp New Hamelex • Order bank 30% lower than pcp White • Competitors prici
Slide 9: New Zealand
New Zealand For personal use only • Continued strong NZ economy • FY15 sales 39% up on pcp • Market leader in refrigerated and dry freight vans • Strong acceptance of Freighter products with sales improving 40% on pcp and representing 30% of total sales • Improved efficiencies and procurement benefi
Slide 10: Parts & Service
Parts & Service • FY15 Revenue 8% below pcp For personal use only − One third of revenue generated in Queensland which has been severely impacted by drought and mining activity decline • FY15 profit significantly down on pcp due to: – Overall market downturn impacting sales volume – Product recall o
Slide 11: Maxi-CUBE Tong Composites (MTC)
Maxi-CUBE Tong Composites (MTC) – Yangzhou, China (80% owned JV) For personal use only • FY15 Sales down 8% on pcp • Heavy duty truck sales in China declined 33% in H2 FY15 • FY15 contribution impacted by: − Lower sales volume creating sub-optimal factory efficiency − Price competition in local mark
Slide 12: Dealerships & Joint Ventures
Dealerships & Joint Ventures For personal use only MaxiTRANS SA(80%) Trailer Sales (36.67%) • FY15 revenue down 23% on • FY15 contribution down 32% on pcp pcp in a soft South Australian due to weak Queensland market market conditions 12
Slide 13: Outlook FY16
Outlook FY16 For personal use only • Further market share gains for the trailer business expected in FY16, particularly in vans with Maxi-CUBE holding a strong order book and opportunities • Accelerate continuous improvement program across all manufacturing sites and products to reduce lead times an
Slide 14: For personal use only
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