Slide 1: Results Presentation – Year Ended 30 June 2023
ABN 58 006 797 173 PO Box 768, Sunshine VIC 3020 P 03 9368 7000 W corporate.maxiparts.com.au 24 August 2023 ASX Announcement Results Presentation – Year Ended 30 June 2023 Attached is MaxiPARTS Limited’s Results Presentation for the financial year ended 30 June 2023. Authorised for release by the Ma
Slide 2: FY23 Full Year Results
FY23 FULL YEAR RESULTS
Slide 3: FY23 Highlights
FY23 HIGHLIGHTS
Slide 4: FY23 Financial Highlights
FY23 Financial Highlights Capital Distribution & EPS Capital Management & Cash • Return to consistent fully franked Dividend Distribution • Debt Facility renegotiated to provide additional funding H2 FY22 2.5 cents for acquired business and extension on maturity of debt H1 FY23 3.17 cents out to May
Slide 5: FY23 Highlights
FY23 Highlights Execution of Strategic Truckzone Integration Projects • Completion of branch rebrand, IT systems, data • Network investment resulting in a significant increase consolidation, safety processes, site consolidations in national site capacity • Increased sales volume in underperforming s
Slide 6: Financial Overview
FINANCIAL OVERVIEW
Slide 7: FY23 Financial Overview
FY23 Financial Overview Commentary A$M FY23 FY22 Change Change % External Revenue 201.7 152.8 48.9 32.0% Revenue of $201.7m increased by 28.1% from pcp (FY22 was a 14.8% increase from 1 FY21 revenue of $137.1m). The sales growth is a result of: Total Revenue* 1 2 201.7 157.4 44.3 28.1% • full-year i
Slide 8: Balance Sheet
Balance Sheet Commentary A$M FY23 HY23 FY22 FY23 Receivables of $31.2m is higher than comparable FY22 period due to increased trading volume Assets 1 and $1.5m of receivables for Förch Australia. HY23 balance is lower due to seasonal slower trading period in December as well as some early payments f
Slide 9: Cashflow
Cashflow Commentary A$M FY23 FY22 Receipts from customers 220.2 217.2 Strong cash flow generation from operating activities for FY23 of $15.1m. 1 Comparative period of FY22 distorted by the sale of the Trailer Solutions Payments to suppliers and employees (204.8) (228.6) division. Interest and other
Slide 10: Operational Update
OPERATIONAL UPDATE
Slide 11: Growth in Core Customer and Product Areas – FY23 vs FY22
Growth in Core Customer and Product Areas – FY23 vs FY22 FY23 Revenue by Product Group FY23 Revenue by Customer Type 4% Axles, Suspensions, Tyres, Revenue Growth Projects 7% Cash and Other Wheels, Brake 15% Other General Products • Underlying Revenue growth of 14% 35% Fleet 36% 11.5% after normalizi
Slide 12: Investment in Site Infrastructure to Drive & Support Future Growth
Investment in Site Infrastructure to Drive & Support Future Growth • MaxiPARTS and Truckzone Perth Site consolidation (July 22) • Truganina Mezzanine Storage (Nov 22) • Increase storage capacity at National DC • Warehouse efficiency gains compared to acquired Wetherill Welshpool, WA Park site • Abil
Slide 13: Förch Status and Priorities
Förch Status and Priorities • Acquisition completed 1st June 2023 with completion accounts agreed and reflected in full year accounts • June trading in line with expectations at $1.2m Revenue and $0.27m Profit Before Tax and Minority Interests • Interest from MaxiPARTS customer base has been strong
Slide 14: Strategy
STRATEGY 13
Slide 15: Strategic Pillars
Strategic Pillars SYSTEMS SYSTEMS AND AND NETWORK PEOPLE PRODUCT SOLUTIONS SOLUTIONS IMPROVE SAME STORE DEVELOP OUR LEADERS FOR DELIVER TARGET REVENUE SYNERGIES FROM INCREASE IN E-COMMERCE PERFORMANCE THE FUTURE EXPANDED CORE PRODUCT OFFERING PRESENCE GROW NATIONAL NETWORK DELIVER RECRUITMENT AND DE
Slide 16: Outlook
OUTLOOK 15
Slide 17: Outlook
Outlook • The parts industry has traditionally exhibited resilience throughout various economic cycles and we are continuing to observe strong underlying activity levels throughout this period of economic uncertainty • Subject to economic conditions, we anticipate our underlying MaxiPARTS Operations
Slide 18: Appendix
APPENDIX
Slide 19: Förch Australia Balance Sheet and Treatment of Intangibles
Förch Australia Balance Sheet and Treatment of Intangibles A$M $’000 Cash & Cash equivalents 0.2 Trade Receivables 1.5 Portion of Intangible asset allocated to Distribution Agreement with Inventories 2.8 future amortisation Right to Use Asset 2.7 Property, plant and equipment 0.2 Intangible Assets I
Slide 20: Operating EBITDA (AASB16 Impact)
Operating EBITDA (AASB16 Impact) Increased impact of AASB16 in FY23 with site investment and timing of lease extensions A$M FY23 FY22 Change AASB16 Lease Information Depreciation expense of right-of-use assets 4.6 4.0 0.6 Interest expense on lease liabilities 1.3 1.1 0.2 Total Lease Expense 5.9 5.1
Slide 21: Revenue Breakdown
Revenue Breakdown A$M H1 FY23 H2 FY23 Full Year H1 H2 H2 Variance % Variance % Variance % H1 FY23 FY22 Variance FY23 FY23 Variance FY23 FY22 Variance Underlying Revenue 84 59 26 44% 91 71 21 29% 176 129 46 36% Revenue to previously owned Trailer Solutions business 15 14 1 7% 10 14 (4) (28%) 25 28 (3
Slide 22: Business Overview
BUSINESS OVERVIEW
Slide 23: National Footprint
National Footprint QUEENSLAND BURPENGARY PARKINSON EAGLE FARM RICHLANDS GLADSTONE ROCKHAMPTON IPSWICH TOWNSVILLE MACKAY YATALA NEW SOUTH WALES VICTORIA ALBURY BALLARAT INGLEBURN BENDIGO WARNERVALE CAMPBELLFIELD WAGGA WAGGA DANDENONG SOUTH WETHERILL PARK GEELONG LYNBROOK WESTERN AUSTRALIA SUNSHINE WE
Slide 24: National footprint with 27 branches; distributor of leading genuine brands
MaxiPARTS is one of Australia’s leading independent commercial vehicle parts distribution companies. National footprint with 27 branches (as Distributor of leading genuine brands as well as having an extensive range of aftermarket of July 2023) commercial vehicle parts Over 162,000 parts available a
Slide 25: Förch Australia Product Range
Förch Australia is one of Australia’s leading direct selling companies for workshop, installation and fastening products for trade and industrial companies. Exclusive Distributor in Australia of Locations in Perth and Melbourne FÖRCH products with over 80,000 Market leading stock fill rates with thi
Slide 26: Important Information
IMPORTANT INFORMATION IMPORTANT INFORMATION
Slide 27: Important Information
Important Information This document should be read in conjunction with the periodic and continuous disclosure announcements of MaxiPARTS Limited (MaxiPARTS) that have been lodged with the ASX, in particular the financial report for the full-year ended 30 June 2023 (available at www.asx.com.au). This
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