Slide 1: Results Presentation – Year Ended 30 June 2024
ABN 58 006 797 173 PO Box 768, Sunshine VIC 3020 P 03 9368 7000 W maxipartslimited.com.au 22 August 2024 ASX Announcement Results Presentation – Year Ended 30 June 2024 Attached is MaxiPARTS Limited’s Results Presentation for the year ended 30 June 2024. Authorised for release by the MaxiPARTS Limit
Slide 2: FY24 Full Year Results
FY24 Full Year Results
Slide 3: Our Brands & Background
Our Brands & Background Mw MAXIPARTS LIMITED
Slide 4: Overview
Overview | (MMaxiPaRTS = Your one-stop shop for truck and trailer parts
Slide 5: MaxiPARTS is one of Australia’s leading independent commercial vehicle parts distribution companies
MaxiPARTS is one of Australia’s leading independent commercial vehicle parts distribution companies. 29 branches across Australia and multiple customer embedded on-site operations Two established private label brands Distributor of leading genuine brands as well as having an extensive range of Suppl
Slide 6: Förch Australia is one of Australia’s leading direct selling companies
Förch Australia is one of Australia’s leading direct selling companies for workshop, installation and fastening products for trade and industrial companies. Exclusive Australian FÖRCH product distribution agreement runs to April 2030, providing 80,000 lines of German products. Higher EBITDA margins
Slide 7: Our Market
Our Market Historical underlying market growth driven by increased road freight task Ongoing growth forecast in the road freight volumes Australian Commercial Vehicle Parts market estimated to be circa $2b+ Non-OEM market share has grown over time OVER Recent period of industry consolidati
Slide 8: Our Evolution
Our Evolution Disposal of Trailer Solutions Business FY05 FY12 FY13 FY22 FY22 FY23 FY24 Colrain Parts The Queensland Parts business Transformed the ASX entity Acquisition of Acquisition of 80% of Acquisition of Independant business Diesel Spares rebranded to into a dedicated commercial
Slide 9: Growth & Diversification
Growth & Diversification MaxiPARTS Truckzone Independant Parts Förch Australia Organic FY24 Port Hedland Upgraded site March 2024 Stores: 1 NT % Revenue: 2% Richlands QLD Sub DC upgraded June 2023 Stores: 11 QLD % Revenue: 24% Sites consolidated into Richlands: • Rocklea (MaxiPARTS) Stores: 6 • Darr
Slide 10: FY24 Highlights & Results
FY24 Highlights & Results Mw MAXIPARTS LIMITED
Slide 11: Our Progress in FY24
Our Progress in FY24 STRATEGIC ACQUISITIONS MAXIPARTS FÖRCH AUSTRALIA MARKET Diversifying and growing revenue 41% growth in higher margin 20% + YOY sales growth Slowdown in demand in H2 base Japanese Parts program FY24 across the east coast Investment in sales team, Independant Parts (IP
Slide 12: Delivering Revenue and EBITDA Growth
Delivering Revenue and EBITDA Growth Financial Highlights EBITDA Margin of 9.5% Up 0.3% on FY23 Revenue Operating cash flow of $10.6m +243.9M Down from $15.1m in FY23 EPS from continuing operations of 10.73 cps Up 20.9% on FY23 Down from 15.53 cps in FY23 Net debt of $15.9m representing a leverage E
Slide 13: Delivering Consistent Growth Over Time
Delivering Consistent Growth Over Time A$m EBITDA Growth 14.0 9.6% 12.0 9.4% 10.0 9.2% EBITDA CAGR growth of 29.8% 8.0 9.0% Improvements driven by both acquisitions and organic 6.0 8.8% programs 4.0 8.6% Ongoing focus on margin improvement 2.0 8.4% - 8.2% H2 FY22 H1 FY23 H2 FY23 H1 FY24 H2 FY2
Slide 14: FY24 Financials
FY24 Financials A$M FY24 FY23 Change % 1. Revenue of $243.9m increased by 20.9% from pcp. Revenue 1 243.9 201.7 20.9% EBITDA 2 23.0 18.5 24.4% 2. EBITDA of $23.0m increased by 24.4% from pcp, and EBITDA margin of 9.5% increased by 30 bps, demonstrating strong pull through from the top line growth an
Slide 15: Balance Sheet
Balance Sheet 1. Receivables and Payables have grown in line with growth and acquisitions. 2. Inventory increased during the year to $67.1m, an increase of $15.3m from inventory held at FY23. Refer to appendix for further details. 1 2 3. Financial assets includes the $3.2m, net of impairment, on com
Slide 16: Cashflow
Cashflow A$M FY24 FY23 Receipts from customers 269.1 220.2 1. Cash conversion of 69% in FY24, compared to 91% in FY23, as result of: Payments to suppliers and employees (253.2) (203.3) • Increase in inventory to support growth in Forch and WA operations Subtotal: Gross operating cash flow 1 15.9 16.
Slide 17: Capital Management
Capital Management A$M FY24 FY23 Current leverage ratio of 0.7 times is well within the Group’s capital management targets Total borrowing facility 29.5 20.0 Facility drawn 29.5 15.0 Loan balances to reduce by $2.0m in FY25 ($0.5m amortising quarterly) Utilisation ratio % 100% 75% Cash 13.6 14.0
Slide 18: Acquisition Updates
Acquisition Updates Mw MAXIPARTS LIMITED
Slide 19: Independant Parts (IP)
Independant Parts (IP) Acquisition Update Results in line with expectations (7 months reported in FY24) Underlying WA market remains strong Integration work completed in FY24 Perth site consolidated with existing MaxiPARTS site Port Hedland site relocated into new facility Rebranding com
Slide 20: Förch Australia
Förch Australia Acquisition Update $16.9m Reported Revenue Positive customer (both MaxiPARTS and external) engagement in relation to National expansion. 21% YOY sales growth from Förch Australia* 3% YOY sales growth from Förch Brisbane** Multiple national customer roll out programs implement
Slide 21: Market Expectations and Areas of Focus
Market Expectations and Areas of Focus
Slide 22: Organic Project Focus in FY25
Organic Project Focus in FY25 OUR MARKETS OUR FOCUS Demand in the short-term remains inconsistent given the general economic uncertainty, Continued focus on revenue and margin improvement initiatives from the however, we do expect this to stabilise and return to historical levels in the medium t
Slide 23: Appendix
APPENDIX Mw MAXIPARTS LIMITED
Slide 24: Revenue by Customer and Product Groups
Revenue by Customer and Product Groups Revenue by Customer Type Revenue by Product Classification 9% 20% B2B Trade Axles, Suspensions, Tyres, Wheels, 6% 23% Brake 34% Electrical Products Fleet Japanese Truck Products 12% Load Restraint Trailer OE Mudguard and Mudflap Products 12% Other General Produ
Slide 25: FY24 Acquisitions: IP and Förch Brisbane
FY24 Acquisitions: IP and Förch Brisbane Independant Parts (IP) Notes to segment table: Förch Brisbane A$M $’000 A$M $’000 IP business combination is completed at Cash & Cash equivalents 0.4 reporting date. Inventories 1.0 Trade Receivables 7.4 Right to Use Asset 0.1 Inventories 10.3 IP has been
Slide 26: Segment Split
Segment Split Notes to segment table: MaxiPARTS Operations segment includes IP acquisition Forch Australia segment includes Förch Brisbane acquisition Eliminations represents the sales between MaxiPARTS Operations and Förch Australia segment
Slide 27: Lease Depreciation and Interest Bridges
Lease Depreciation and Interest Bridges Lease Depreciation (A$m) Lease Interest (A$m) ease Acquired P general Pro ection xtenstion ease Acquired P general Pro ection eases Site move M eases xtenstion new store Printers eases Site move M eases new store Printers Change projected for FY25 relate to:
Slide 28: Interest - Finance Cost
Interest - Finance Cost MaxiPARTS Bank Debt (drawn) and interest charges and published cash rate by month. Interest charge A$000’s * Drawn bank debt A$000’s *Interest charge includes interest charges and line fees for debt availability
Slide 29: Important Information
IMPORTANT INFORMATION My MAXIPARTS LIMITED
Slide 30: 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 2024 (available at www.asx.com.au). This