Maxiparts Limited · ASX:MXI
Maxiparts — MaxiTRANS Industries — H1 FY20 Earnings Presentation
14 slides from Maxiparts's earnings presentation, Feb 28, 2020
Slide 1: Results Presentation – Half Year Ended 31 December 2019
28 February 2020 For personal use only Results Presentation – Half Year Ended 31 December 2019 Attached is MaxiTRANS Industries Limited’s Results Presentation for the half-year ended 31 December 2019. Authorised for release by the MaxiTRANS Industries Limited Board of Directors Enquiries Dean Jenkin
Slide 2: MaxiTRANS Industries Limited – H1 FY20 Investor Presentation
For personal use only MaxiTRANS Industries Limited – H1 FY20 Investor Presentation
Slide 3: H1 FY20 Overview
For personal use only H1 FY20 OVERVIEW • As has been the case for a number of reporting periods, safety performance continues to improve with trailing 12 month injury rates improving by over 20% • Revenue down 11.8% for continuing operations (14.3% from PCP total revenue) • Trailers revenue has decl
Slide 4: Financial Overview
For personal use only FINANCIAL OVERVIEW A$M 1H19 1H20 Change % Change • Operating performance in HY20 was challenging with External Revenue * 190.7 163.5 (27.2) (14.3%) a significant decline in the external market leading to # EBITDA (Underlying) 8.5 6.5 (1.9) (22.8%) a decline in trailer order int
Slide 5: Cashflow
For personal use only CASHFLOW A$M 1H19 1H20 Change % Change • Significant reduction in Capital Expenditure inclusive # EBITDA 5.6 6.5 0.9 16.7% of Transform / EquipIQ expenditure Change in Working Capital (2.4) 2.7 5.1 214.4% Other (2.9) (2.8) 0.1 1.9% Operating Cashflow 0.3 6.4 6.1 2045.6% • Favou
Slide 6: Balance Sheet
For personal use only BALANCE SHEET A$M Dec‐18 Jun‐19 Dec‐19 • Reduction of Debt by $6.0m ($22.0m since H1 2019) Receivables 36.7 42.4 36.8 Inventories 62.7 59.3 62.0 • Reduction in PP&E due to Sale and Leaseback of the Total Current Assets 126.3 118.1 114.3 PP&E 55.8 41.7 34.4 Trailers Rental Fleet
Slide 7: Segment Earnings - MaxiPARTS
For personal use only SEGMENT EARNINGS ‐ MAXIPARTS A$M 1HFY20 2HFY19 1HFY19 FY19 FY18 FY17 FY16 FY15 Total Revenue 67.7 64.4 69.0 133.5 127.4 99.9 97.2 103.1 External Revenue 59.0 51.9 55.1 106.9 101.9 88.8 88.0 94.7 EBITDA excl Corporate Costs & AASB 16 5.6 5.6 5.6 11.2 9.7 6.8 3.7 1.2 EBITDA Margi
Slide 8: Trailers: A Diverse Portfolio of Brands Exposed to Multiple Segments
For personal use only TRAILERS A DIVERSE PORTFOLIO OF BRANDS EXPOSED TO MULTIPLE SEGMENTS OF THE ECONOMY Bulk Transport General Freight Food & Grocery • Infrastructure • Population Growth • Housing Starts • Population Growth • Consumer Spending • Agriculture • Consumer • Infrastructure • Waste Spend
Slide 9: Segment Earnings - Trailers
For personal use only SEGMENT EARNINGS ‐ TRAILERS A$M 1HFY20 2HFY19 1HFY19 FY19 FY18 FY17 FY16 FY15 Total Revenue 104.6 109.9 130.6 240.5 298.5 233.9 235.4 223.1 External Revenue 104.5 110.0 130.2 240.2 290.9 232.2 233.5 221.3 EBITDA excl Corporate Costs & AASB16 6.6 6.6 9.6 16.2 23.3 20.4 9.2 12.7
Slide 10: Cost Saving Initiatives
For personal use only COST SAVING INITIATIVES The group has proactively responded to the changing market: Cost Saving Initiatives • Restructuring (Phase 1) actions taken in Feb 19 will 12,000 2,200 10,600 deliver $1.8m of savings in FY20 10,000 8,400 4,000 • Ongoing cost reductions throughout FY20 a
Slide 11: Outlook
For personal use only OUTLOOK • General economic conditions have continued to be challenging with new trailer registrations rapid slowing over H1 FY20, which looks set to remain at low levels for at least H2 FY20 • Recent quotation levels have shown a slight improvement in Australia compared to the
Slide 12: Our Values
For personal use only OUR VALUES SEND ALL OUR A BALANCED FOCUS ENABLE AND PEOPLE HOME ON CUSTOMERS EMPOWER PEOPLE SAFELY AND RESULTS TO ACHIEVE RESULTS BE HONEST, ENCOURAGE BECOME BETTER FORTHRIGHT AND COLLABORATION EVERY DAY IN ALL ETHICAL IN OUR AND DEEP SEATED THAT WE DO DEALINGS ACCOUNTABILITY 1
Slide 13: Important Information
For personal use only IMPORTANT INFORMATION This document should be read in conjunction with the periodic and continuous disclosure announcements of MaxiTRANS Industries Limited (MaxiTRANS) that have been lodged with the ASX, in particular the financial report for the half‐year ended 31 December 201
Slide 14: For personal use only
HamelexWhite’ — LUSTV EMS MR Genit Riva) A AUMEB: @axiparts