Peter Warren Automotive Holdings Ltd · ASX:PWR
Peter Warren Automotive — Investor Presentation (August 2022)
24 slides from Peter Warren Automotive's investor presentation, Aug 26, 2022
Slide 1: Peter Warren Automotive Holdings Limited FY22 Investor Presentation
Peter Warren Automotive Holdings Limited 26 August 2022 FY22 Investor Presentation Peter Warren Automotive Holdings Limited (ASX:PWR) attaches its FY22 Investor Presentation relating to PWR’s full year 2022 financial results announcement. AUTHORISED FOR LODGEMENT BY: The Board of Peter Warren Automo
Slide 2: Peter Warren Automotive Holdings FY22 Results Presentation
Peter Warren Automotive Holdings (PWR.ASX) FY22 Results Presentation Mark Weaver Chief Executive Officer Bernard Friend Chief Financial Officer Friday 26 August 2022
Slide 3: Agenda
Agenda 1 FY22 Result Overview 2 FY22 Financial Summary 3 Outlook 4 Questions 5 Appendices 02 FY22 Financial results | August 2022
Slide 4: FY22 Financial Highlights
FY22 Financial Highlights Strong result in a challenging environment (1) (1) (1) Revenue EBITDA Profit before tax (PBT) Net profit after tax (NPAT) $1,711m $130m $88m $62m (2) (2) (2) (2) FY21 Revenue $1,622m FY21 EBITDA $108m FY21 PBT $76m FY21 NPAT $52m Revenue growth +5.6% EBITDA growth +20.4% PB
Slide 5: Delivered Solid Growth on Prior Period
Delivered Solid Growth on Prior Period FY22 includes contribution from recent acquisitions (A$m) 11.3 88.2 80.8 (1.0) 2.2 (2.3) 75.7 (5.1) .................................................................................................................................................................
Slide 6: Three Primary Pillars
Three Primary Pillars Delivered through our workplace culture and core values Organic growth Acquisition opportunities Evolve property portfolio Expansion of current operations Pursue new acquisition in the sale of new and used opportunities, with a Ownership or long-term leases vehicles and the pro
Slide 7: FY22 Delivering on our Strategy
FY22 Delivering on our Strategy Strong execution against primary pillars rganic growth O Continued strength of our forward order book Deep dive and national alignment of revenue streams to focus on cost efficiencies & growth Re-configuration of F&I providers and offerings to align our digital strate
Slide 8: Electric Vehicles
Electric Vehicles Growing our EV capabilities as customer demands change EV sales small but growing BEV (battery electric vehicles) & PHEV (plug in hybrid electric vehicles) (1) vehicle sales estimated to be less than 3% of new vehicles sales in FY22 Hybrid sales growth was modest in FY22: units up
Slide 9: Environmental, Social and Governance
Environmental, Social and Governance Embedding ESG into our strategy and ways of working 2021 Vocational Education and Energy audits completed Above national average Employee Training award winners "Large and Energy Conservation Engagement survey results, Employer of the Year" NSW, Measures (ECM's)
Slide 10: FY22 Financial Summary
FY22 Financial Summary 09 FY22 Financial results | August 2022
Slide 11: FY22 Statutory Financial Result
FY22 Statutory Financial Result Solid performance with growth on prior year Revenue (A$m) New Vehicle Units Sold EBITDA (A$m) Profit Before Tax (A$m) $1,377 $1,622 $1,711 20,152 22,396 23,209 $49 $108 $123 $16 $76 $81 +13.6% +6.8% +5.6% Penfold Group (7 months) +3.6% 19,928 FY20 FY21 FY22 FY20 FY21
Slide 12: FY22 Profit and Loss
FY22 Profit and Loss Demand continues to outstrip supply Penfold Group +55% since Dec 21 FY22 FY21 Variance NSW & QLD +98% June year end (A$m) since Jun 21 Proforma (%) Revenue 1,711.3 1,621.2 5.6% Gross Profit 342.5 292.1 17.2% EBITDA - underlying 130.1 108.0 20.4% Flood recovery costs (5.1) - n.m
Slide 13: Operating Cost Bridge
Operating Cost Bridge Increase reflects impact of acquisitions and one-off costs (A$m) 212.4 2.3 219.8 5.1 23.1 5.2 184.1 ..................................................................................................................................................................................
Slide 14: Continued Strong Cashflow Conversion
Continued Strong Cashflow Conversion Cashflow conversion at 94.2% 94.2% Cashflows FY22 FY21 Variance June year end (A$m) Statutory Proforma (%) Statutory EBITDA 122.7 108.0 14% Movement in working capital (6.9) (18.6) 82.1% Operating cashflow before floor 115.7 89.4 29% plan interest Floor plan Inte
Slide 15: Strong Cash and Liquidity Position
Strong Cash and Liquidity Position Capital structure supports our growth plans 30 Jun 22 30 Jun 21 Variance External debt facility partly drawn to co-fund acquisition of Penfold A$m Actual Actual A$m Motor Group Cash and cash equivalents 52.2 42.9 9.3 $96m, 10-year facility secured against Warwick F
Slide 16: Outlook
Outlook 15 FY22 Financial results | August 2022
Slide 17: Outlook
Outlook Strategic Focus Outlook The Group will continue to execute its strategic priorities, focused on delivery of its primary pillars of organic growth initiatives, evaluation of Operating Environment acquisition opportunities and continuing to leverage and evolve our property portfolio Dynamic bu
Slide 18: Questions
Questions 17 FY22 Financial results | August 2022
Slide 19: Disclaimer
Disclaimer IMPORTANT NOTICE The material in this presentation has been prepared by Peter Warren Automotive Holdings Limited (ASX: PWR) ABN 57 615 674 185 (“Peter Warren” or the Company") and is general background information about Peter Warren’s activities current as at the date of this presentation
Slide 20: Appendices
Appendices 19 FY22 Financial results | August 2022
Slide 21: Balance Sheet AASB 16 Reconciliation
Balance Sheet AASB 16 Reconciliation 30 Jun 22 30 Jun 21 FY22 FY21 A$m Actual Actual Variance June year end (A$m) Actual Actual Cash and cash equivalents 52.2 42.9 9.3 EBITDA (AASB 117) 99.3 76.3 Trade and other receivables 56.1 56.8 (0.7) Decrease in operating lease expense 23.4 25.8 Inventories 27
Slide 22: Proforma Adjustments to Statutory Income Statement
Proforma Adjustments to Statutory Income Statement Statutory Underlying / Proforma June year end (A$m) FY22 FY21 FY20 FY22 FY21 FY20 Revenue 1,711.3 1,635.0 1,391.3 1,711.3 1,621.2 1,376.6 Cost of sales (1.368.8) (1,329.1) (1,155.7) (1.368.8) (1,329.1) (1,155.7) Gross profit 342.5 305.9 235.6 342.5
Slide 23: Proforma Adjustments to Statutory Income Statement
Proforma Adjustments to Statutory Income Statement NPAT EBITDA PBT June year end (A$m) Footnote FY22 FY21 FY20 FY22 FY21 FY20 FY22 FY21 FY20 Statutory 56.5 37.5 8.9 122.7 102.1 65.6 80.8 54.8 12.0 Jobkeeper 1 - (0.4) (9.9) - (0.5) (14.2) - (0.5) (14.2) Impact of capital structure 2 - 5.1 5.8 - 0.0 0
Slide 24: Investor relations contact details
Investor relations contact details: Citadel-MAGNUS Maddie Seacombe Phone: +61 2 8234 0114 Email: mseacombe@citadelmagnus.com Company website: www.pwah.com.au Company address: 13 Hume Highway Warwick Farm NSW 2170 Australia
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