Maxiparts Limited · ASX:MXI
Maxiparts — MaxiTRANS Industries — Shareholder Meeting (October 2012)
18 slides from Maxiparts's shareholder meeting presentation, Oct 19, 2012
Slide 1: MaxiTRANS Industries Limited Annual General Meeting
For personal use only MaxiTRANS Industries Limited Annual General Meeting 19 October 2012
Slide 2: Financial Highlights
Financial Highlights For personal use only FY10 FY11 FY12 % Change $000 $000 $000 on FY11 Revenue 235,387 202,476 276,767 +37% EBITDA 14,741 11,230 23,549 +109% NPBT 7,124 4,341 16,795 +186% NPAT* 5,766 4,171 12,334 +195% * Attributable to Equity Holders These results include the following non-opera
Slide 3: Financial Highlights (cont)
Financial Highlights (cont) For personal use only FY10 FY11 FY12 $000 $000 $000 Operating Cash Flow 8,723 9,058 17,567 Net Debt 21,905 9,779 26,093 Net Debt/Equity % 25% 11% 26% EPS (Basic) 3.17 cents 2.27 cents 6.70 cents Dividend declared 2.00 cents 1.50 cents 4.25 cents Dividend as % of EPS 63% 6
Slide 4: FY12 Overview
FY12 Overview For personal use only • Unit sales up 35% on FY11 • Order intake up 39% on FY11 • Order banks at end of FY12 up 70% on FY11 • Increased demand driven by agriculture and mining & resources sectors • Another record contribution from Colrain parts business • Benefit of strategic initiativ
Slide 5: Strategic Achievements in FY12
Strategic Achievements in FY12 For personal use only − Expansion of Parts business: – Acquisition of Queensland Diesel Spares (QDS) – Revenue $40m+, EBIT $4.5m+ (before synergies) – Total investment $21.6m – EBIT multiple of 4.8x – Addition of 9 retail stores to parts retail portfolio – Increased ex
Slide 6: Strategic Achievements in FY12 continued
Strategic Achievements in FY12 continued For personal use only − Significant revenue growth since FY08 − Contribution of Parts & Service businesses to group NPBT now 45% (11% in FY08) expected to grow to 50% in FY13. 6
Slide 7: Strategic Achievements in FY12 continued
Strategic Achievements in FY12 continued For personal use only − Diversification of exposure within Australian economy: – Acquisition of AZMEB Global Trailers – Revenue $20m+, EBIT $2m+ (before synergies) – Total investment $6 million – EBIT multiple of 3x – Exposure to mining & resources and to was
Slide 8: Parts
Parts For personal use only • Record contribution in FY12 (up 27% on pcp) • Organic sales growth from new product ranges (safety, fuel additives, etc) • Acquisition of QDS on 2 April 2012: − Geographic expansion − New product categories − New customers − Significant synergies • First quarter FY13: −
Slide 9: Trailers
Trailers For personal use only • Unit sales up 48% on pcp • Order intake up 45% on pcp • Strong demand from mining and resources sector • Large orders from new and existing customers – fleet, military, etc • Strong order bank to start FY13 (up 61% on pcp) • First quarter FY13 − Unit sales up 33% on
Slide 10: Vans
Vans • Unit sales up 46% on pcp For personal use only • Order intake up 27% on pcp • New model meat hanger introduced – auto operation • Significant contracts won • First quarter FY13 − Order intake up 19% on 4Q12. 10
Slide 11: Tippers
Tippers • Unit sales up 23% on pcp For personal use only • Order intake up 58% on pcp • Driven by agricultural and mining and resources sectors • Depressed construction market (truck & dog product segment) • New mining and resource related products launched • Strong order bank to start FY13 (up 149%
Slide 12: Tippers: Acquisition of AZMEB Global Trailers
Tippers For personal use only • Acquisition of AZMEB Global Trailers on 21 May 2012: − Increased exposure to mining and resources and waste management sectors − Proven, stable and patented product range − Expanded distribution throughout Australia via MXI dealer network − Increased production levels
Slide 13: New Zealand
New Zealand For personal use only • Unit sales up 35% on pcp (trailing equipment market up 20%) • Relocation to larger factory in November 2011 • Extension of Freighter brand and product range • Changes to Road User Charge tax system announced in June expected to increase demand for new equipment •
Slide 14: MTC – Yangzhou, China
MTC – Yangzhou, China For personal use only • Major panel supplier to Chinese body builders • Completed sale of 20% equity to MTC management team • Profit contribution up 42% on pcp • New factory due for completion 2H13 • Capacity to increase by 300% • Well positioned to capitalise on market develop
Slide 15: Joint Venture
Joint Venture For personal use only • Trailer Sales (previously Freighter Maxi-CUBE Qld) - 36.67% share: − FY12 contribution up 70% on pcp − Strong contribution from all segments (new equipment, parts and workshop) − Continued growth in North Qld operations − First quarter FY13 contribution* up 76%
Slide 16: Acquisition
Acquisition For personal use only • Acquired 8 October 2012 - 80% share (20% held by David Rees – General Manager) • Long standing trailer, van and tipper dealership in South Australia • After sales repairs, service and parts • Current Hamelex White distributor • Transition of Freighter, Maxi-Cube,
Slide 17: Outlook FY13
Outlook FY13 For personal use only • First quarter FY13 − Unit sales up 34% on pcp − Order intake up 14% on pcp • Projected first half FY13 NPAT in excess of $12M* vs. $6M last year • Strong order bank at start of FY13 – 70% up on FY11 • Continuing strength in agriculture and mining and resources se
Slide 18: For personal use only
GHTER lUSIVEWS? KZ7MEB OOOuRAIN HamelexWhite cvosat traiters
MaxiTRANS Industries — Shareholder Meeting (October 2012) on 6ix