Maxiparts Limited · ASX:MXI
Maxiparts — MaxiTRANS Industries — Shareholder Meeting (October 2014)
17 slides from Maxiparts's shareholder meeting presentation, Oct 24, 2014
Slide 1: Annual General Meeting 24th October, 2014
For personal use only MaxiTRANS Industries Limited Annual General Meeting 24th October,2014
Slide 2: 2014 Year in Review
2014 Year in Review For personal use only • A soft and challenging market resulting in: − Revenue of $351 million, down 3% on prior year − NPAT attributable to MXI Equity Holders $17 million in line with the trading update in April, ‘14 • Margins adversely impacted by: − Low trailer demand driving i
Slide 3: Financial Highlights
Financial Highlights For personal use only FY11 - FY13 FY14 % change FY14 $000 $000 on FY13 CAGR Revenue $362,534 $351,968 -3% 20.2% EBITDA $44,219 $30,594 -31% 40.0% NPBT $36,358 $23,172 -36% 74.7% NPAT attributable to MXI equity $25,965 $17,075 -34% 60.0% holders * Excludes im pairm ent charges an
Slide 4: Financial Highlights (cont.)
Financial Highlights (cont.) For personal use only FY13 FY14 % change on $000 $000 FY13 Operating cash flow $23,543 $16,612 -29% Net debt $24,601 $37,539 52.6% Net debt/equity % 21% 31% 10 ppts EPS (basic) (cents) 14.11 9.26 -34.4% Total dividends declared 8.5 6.0 -29.4% (cents) Total dividend as %
Slide 5: Parts & Service continues to grow
Parts & Service continues to grow contribution to Group results For personal use only • Parts & Service contributed 39% of the group result, up from 35% in FY13 • Non-recurring items dampened Parts & Service profit contribution in FY14 • Expect Parts & Service contribution to continue to increase 5
Slide 6: Major Achievements in FY14
Major Achievements in FY14 For personal use only • Continued to build national parts network: • Acquisition of three parts stores to expand NSW footprint: • Central Coast (Warnervale) • Dubbo • Wagga Wagga • Relocated NSW warehouse and opened new retail store in Ingleburn • Opened new greenfield sto
Slide 7: MaxiSAFE Program
MaxiSAFE Program For personal use only • 47% reduction in injury frequency achieved since FY06 • But, gains have plateaued • MaxiSAFE Program: − Operating for 12 months so far − Targeting 60% reduction in injury rates from FY13 levels by FY16 − Ultimate target: ZERO INJURIES − Working with DuPont Su
Slide 8: Project TRANSform
Project TRANSform For personal use only • Outdated core IT system no longer supported • Multiple legacy IT systems (13) to be replaced with a single ERP system • Benefits: – Streamline business processes and management – Create operational efficiencies – Reduce operational risk • Currently at the “d
Slide 9: Vans
Vans For personal use only • FY14 unit sales 7.7 % below FY13 but positive mix had revenue 4% above FY13 • Maxi-CUBE Premium Pack successfully launched in Q3 ‘14 • Current order bank flat on pcp. New Maxi-CUBE Premium Pack New 26 Pallet Maxi-CUBE Reefer 9
Slide 10: Trailers
Trailers For personal use only • FY14 sales revenue down 8% on FY13 • Competitors discounting heavily punished AutoHold margins closing system • New AutoHold trailer well received by the (4 patents on market with orders taken prior to year end the overall design) • Current order bank up 53% on pcp.
Slide 11: Tippers
Tippers For personal use only • Most sectors depressed in FY14: − Agriculture adversely affected by drought in Queensland and north western NSW − Resources investment decline as projects come online and few new projects in the pipeline − General lack of infrastructure project pipeline • Total tipper
Slide 12: New Zealand
New Zealand For personal use only • Strong NZ economy • FY14 sales revenue 48% up on FY13 • Market penetration being achieved with new Freighter strategy & product development • Improved efficiencies at new factory more New Freighter B-Train capacity & shorter lead times • Van and trailer markets st
Slide 13: Parts & Service
Parts & Service For personal use only MaxiPARTS Darwin (& images below) • FY14 Revenue in line with pcp − Gladstone decline offset by acquisitions and greenfield stores − Australian service and repairs business stronger than prior year • FY14 profit significantly down on pcp due to: – Overall market
Slide 14: Maxi-CUBE Tong Composites (MTC)
Maxi- Maxi-CUBE Tong Composites (MTC) – Yangzhou, China (80% owned JV) For personal use only • FY14 revenue in line with pcp • FY14 contribution adversely affected by relocation to new factory: – Shutdown old factory – Implement new technology at factory requiring testing and commissioning New MTC P
Slide 15: Dealerships & Joint Ventures
Dealerships & Joint Ventures For personal use only Transport Connection (80%) Trailer Sales (36.67%) • FY14 revenue up 60% on FY13 • FY14 contribution down slightly on (accounting for Oct 2012 to June pcp 2013 only) • Appointed Hamelex White distributor • FY14 contribution up 5% on for all of Qld (p
Slide 16: Outlook FY15
Outlook FY15 For personal use only • Australian Trailer and Parts markets continue to soften: – Continued drought, soft resources sector and slow infrastructure activity significantly impacting tipper demand and parts market in particular – Business activity has continued to soften across Australia
Slide 17: For personal use only
PEHI JUSTY A$ Ze HamelexWhite \ |ATMEB (4) MaxiPARTS [ PANEL DEESEY TRANSFER SYSTEMS,
MaxiTRANS Industries — Shareholder Meeting (October 2014) on 6ix