Move Logistics Group Limited · NZX:MOV
Move Logistics — H1 2025 Earnings Presentation
24 slides from Move Logistics's earnings presentation, Feb 28, 2025
Slide 1: MOVE Logistics Group Limited 1H25 Results
MOVE LOGISTICS GROUP LIMITED 1H25 RESULTS Paul Millward, Chief Executive Officer Lee Banks, Chief Financial Officer 28 February 2025
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by MOVE Logistics Group Limited (“MOV”). The information in this presentation is of a general nature only. It is not a complete description of MOV. This presentation is not a recommendation or offer of financial products for subscription, purchase or sa
Slide 3: Agenda
Agenda • 1H25 at a glance • Accelerate Transformation programme • Division performance • Financial results • Outlook • Q&A 1H25 Results Presentation 3
Slide 4: 1H25 Financial Highlights
1H25 Financial Highlights Earnings loss halved, gross margin expansion plan progressing well INCOME GROSS MARGIN EARNINGS 1 Income $150.7m Gross Margin $43.0m Normalised EBT2 $(6.1)m -5% +14% +54% Gross Margin 29% +5.2bp EBT $(8.1)m +43% MOMENTUM DESPITE WEAK GROSS MARGIN % THE HIGHEST SOLID IMPROVE
Slide 5: The Accelerate Transformation Programme
The Accelerate Transformation Programme Launched June 2024 PROFITABLE REVENUE RECALIBRATE THE BUSINESS BALANCE SHEET RESILIENCE GROWTH Costs Down Increased Revenue Stronger Balance Sheet Productivity Up Better Margins Improved Cashflow • Control and reduce costs • Strengthen existing • Creating a st
Slide 6: Momentum of transformation plan evident
Momentum of transformation plan evident 2Q25 quarterly earnings the strongest in 18 months Accelerate Gross Margin $ Accelerate Total Income +12% +13% Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Gross Margin % Normalised EBT +2.7bp +48% Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25
Slide 7: 1H25 Business Highlights
1H25 Business Highlights Momentum being made in a challenging market, clear forward action plan • Paul Millward appointed interim CEO in August 24, to lead the transformation plan. Appointed permanent CEO from 28 February 2025 • Clear transformation plan (Accelerate) well embedded • Strong gross mar
Slide 8: Freight
Freight Revenue: $69.5m Normalised EBT: $(3.9)m Good momentum on turnaround, progressing to plan - steady improvement now being delivered 2Q25 NEBT best in two years driven by gross margin expansion - Revenue revenue growth and cost reduction 80.9 69.5 61.8 NZ$m • Laser focus on cost control and eff
Slide 9: Contract Logistics
Contract Logistics Revenue: $56.7m (Warehousing and Fuel) Normalised EBT: $(0.7)m Disappointing result, driven by Warehousing which remains challenged, and despite positive Fuel performance Revenue Warehousing 80.5 77.5 • Current weak demand and excess capacity across the market 56.7 NZ$m • Clear pr
Slide 10: Specialist
Specialist Revenue: $10.3m Normalised EBT: $1.9m Going from strength to strength, with a healthy pipeline Revenue • Continuing demand for expert services in a tighter market 10.3 9.5 10.3 • Topline growth alongside good cost discipline NZ$m • Strong pipeline of work in place • Considered experts to
Slide 11: International
International Revenue: $12.0m Normalised EBT: $(0.3)m Freight forwarding and other services providing consistent performance while the Oceans business (trans-Tasman Revenue shipping) is building momentum 12.0 Oceans 9.5 NZ$m 6.6 • Moved to time charter model with new larger vessel commencing from Se
Slide 12: Financial Results
FINANCIAL RESULTS 1H25 Results Presentation 12
Slide 13: 1H25 Group Summary
1H25 Group Summary Disciplined financial management as transformation plan is executed $Millions 1H25 1H24 Total Income 150.7 159.4 • Weak economy continues to impact on Normalised EBITDA1 20.1 13.2 customer demand and activity Normalised EBT1 (6.1) (13.3) • Early benefits from execution of Accelera
Slide 14: Improvement in earnings
Improvement in earnings Normalised EBT +54%, EBT +43% Majority of businesses delivering improved earnings; Warehousing the exception 0 -2 • FREIGHT: Strong revenue improvement and reduced cost base driving earnings -4 improvement 1.6 -6 6.5 -0.05 1.8 -6.1 • CONTRACT LOGISTICS: Fuel volumes held $M -
Slide 15: Reduction in opex
Reduction in opex 150 146.1 $16.8m reduction in operating 145 expenses year on year • Focus on cost reduction (both direct and 140 -6.6 135 overheads) 2.3 129.3 • Headcount down by 16% since Jan 2024 130 -10.5 -0.8 -1.2 125 as a result of efficiency drive 120 • Large proportion of lease costs are fi
Slide 16: Funding and capital
Funding and capital • Successful new funding partnership established in August 2024 - combination of bank facility and invoice finance funding – combined facility of up to $35m • February 2025 - renewed ANZ facility with extended tenure to August 2026, as well as adjustments to covenants and other p
Slide 17: Looking Forward
LOOKING FORWARD Move
Slide 18: 2H25 Outlook
2H25 Outlook • Market outlook still soft, improvement not expected Remain on track to achieve our goals: until at least mid-2025 FY25: • Inflation has eased • Lift in market activity and customer demand, • Positive adjusted net operating combined with improvements from transformation cashflow* plan,
Slide 19: 2H25 priorities
2H25 priorities • Gross margin expansion, delivery through various levers • Win in the market, through sales execution, operational excellence and delighting our customers • Freight – continuing cost discipline alongside improved process efficiency • Warehousing – revenue growth and productivity imp
Slide 20: Appendices
APPENDICES 1H25 Results Presentation 20
Slide 21: Our Business
Our Business Move is one of the largest domestic freight, warehousing and logistics solutions providers in New Zealand FREIGHT WAREHOUSING FUELS SPECIALIST OCEANS 1H25 Results Presentation 21
Slide 22: Sound Business Fundamentals
SOUND BUSINESS FUNDAMENTALS Nationwide network and specialised expertise Multi-modal, end to end supply chain solutions Customer focused, culture of service excellence Experienced and passionate team Competitive, value for money, reliable and resilient provider 1H25 Results Presentation 22
Slide 23: Weak economy impacting revenue
Weak economy impacting revenue Approx. 70% of MOVE’s top 20 clients are in the Retail sector Retail Fuel Retail Sales 1700 Seasonally adjusted volume Seasonally adjusted volume 1650 26,500 1600 26,000 1550 25,500 1500 25,000 1450 24,500 1400 24,000 Sep-22 Mar 23 Sep 23 Mar 24 Sep 24 June 22 Dec 22 J
Slide 24: Financial Measures
Financial Measures MOVE Logistics Group uses several non-GAAP measures when discussing $Millions 1H25 1H24 financial performance, and believe these provide a better reflection of Net profit/(loss) before income tax (GAAP measure) (8.1) (14.2) the company’s underlying performance. Add back: Glossary: