Fleetpartners Group Limited · ASX:FPR
Fleetpartners — Shareholder Meeting (January 2024)
21 slides from Fleetpartners's shareholder meeting presentation, Jan 25, 2024
Slide 1: FleetPartners Group 2024 Annual General Meeting Presentation Materials
25 January 2024 ASX Release Market Announcement Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 FLEETPARTNERS GROUP 2024 ANNUAL GENERAL MEETING PRESENTATION MATERIALS Please see attached the presentation materials which are to be displayed at this morning’s Annual General Meet
Slide 2: 2024 Annual General Meeting
2024 Annual General Meeting FleetPartners Group Limited (ASX:FPR) 25 January 2024
Slide 3: Legal disclaimer
Legal disclaimer This Presentation contains summary information about FleetPartners Group Limited (FleetPartners) and its subsidiaries and their activities, current as at the date shown on the front page of this Presentation. The information in this Presentation does not purport to be complete. It s
Slide 4: Agenda
Agenda 1. Chair’s address 2. Chief Executive Officer’s address 3. Appendix 4. Voting
Slide 5: 1. Chair's address
1. Chair’s address F FleetPartners
Slide 6: Board of Directors and Executive team
Board of Directors and Executive team New appointments Board of Directors1 Chair NED NED NED NED NED Gail Pemberton Fiona Trafford-Walker Russell Shields Cathy Yuncken Rob McDonald Mark Blackburn Executive CEO & MD Damien Berrell CFO James Owens COO Adriana Sheedy CCO Daniel Thompson MD NZ Russell W
Slide 7: FY23 performance highlights
FY23 performance highlights Continuing to deliver NBW and AUMOF growth despite a challenging supply environment NPATA New business writings (NBW) AUMOF $88.0m Strong NPATA result driven by AUMOF growth and EOL at $7,598 per unit +13% 1,2 $762m NBW, with growth driven by 2H23 performance, as supply b
Slide 8: Environmental, social and governance highlights
Environmental, Environmental,social socialand and governance highlights governance highlights COMMITTED TO OPERATING IN AN ETHICAL AND TRANSPARENT WAY 7
Slide 9: 2. Chief Executive Officer's address
2. Chief Executive Officer’s address
Slide 10: 45% CAGR in cash earnings per share
45% CAGR in cash earnings per share (EPS) since FY19 Excluding the benefits from elevated EOL, Cash EPS has grown at a CAGR of 29% over the last five years Creating shareholder value Cash EPS growth Normalised EPS1 Elevated EOL performance2 Strategic Pathways Accelerate program EPS growth dr
Slide 11: Strategic Pathways
Strategic Pathways Expanding market share in three underpenetrated, high returning segments – strong growth across the board, but in particular Small Fleets and Novated growing at 23% and 38%1 respectively Corporate AU & NZ Small Fleets2 Novated 2.5m 1.5m c.1m TAM3 vehicles4 vehicles4 employees5 2
Slide 12: Strong order intake begins to convert into NBW
Strong order intake begins to convert into NBW Strategic Pathways delivering a strong NBW performance, whilst maintaining the order pipeline Orders taken1 NBW Order pipeline1 Sale and lease-back 1.6x 3.0x 3.0x 2.7x 2.7x 1.3x 1.2x 1.2x 1.2x $4m $8m $26m 2.1x 1.0x $440m 1.4x $331m $342m $339m $322m
Slide 13: Accelerate program's key milestones
Accelerate program’s key milestones Business transformation program that will deliver an annualised $6m opex saving by mid-FY25. Running to plan both from a timing and spend perspective FY23 FY24 FY25 Status Accelerate Program • Removes duplication through consolidation of brands, 1. FleetPlus NZ tr
Slide 14: Capital management – 25% of share capital bought back
Capital management – 25% of share capital bought back $73 million to be bought back for the full year, which is 83% of FY23 NPATA Buy-back1 Comments 2% of SOI illustratively to • Completed $43 million 1H23 buy-back, including $10 million special buy-back and 1% of SOI be cancelled4 $5 million carrie
Slide 15: EPS growth drivers
EPS growth drivers We have capitalised on the tailwinds of COVID-19 … but have also put the business on a firm footing for longer term growth Strategic Pathways Accelerate program Share buy-back Acquisitions +13%1: NBW growth as new car Program running to plan both from a $43m 1H23 buy
Slide 16: 1Q24 trading update
1Q24 trading update Strong start to FY24 with growth in NBW and AUMOF as new vehicle supply continues to improve Operating environment 1Q24 performance highlights • Operating environment is good with a rational competitive landscape New business writings1 Order pipeline2 • Corporate order and tender
Slide 17: FY24 expectation analysis
FY24 expectation analysis NOI pre EOL and provisions margin expected to continue to normalise, offset by growth in AUMOF FY24 FY23A Comments (expectation) • Growth in average AUMOF partially offset by reduction in management fees as extensions and inertia reduce to more NOI pre EOL and provisions $1
Slide 18: 3. Appendix
3, Appendix F FleetPartners
Slide 19: Change to calculation of NPATA
Change to calculation of NPATA The calculation of NPATA has been updated to remove the impact of non-cash hedging movements New Old Comments $ million FY23 FY22 FY23 FY22 • FPR hedges 100% of its interest rate exposure on leases via interest rate swaps NOI pre EOL and provisions1 150.8 153.5 150.3 1
Slide 20: 4. Voting
4. Voting F FleetPartners
Slide 21: Thank you
Thank you fleetpartners.com.au
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