Car Group Limited · ASX:CAR
Car — carsales.com — FY2015 Earnings Presentation
36 slides from Car's earnings presentation, Aug 12, 2015
Slide 1: Full year results presentation to 30 June 2015
1 For personal use only full year results presentation to 30 June 2015
Slide 2: Disclaimer and Non-IFRS Information
2 Disclaimer and Non-IFRS Information Disclaimer For personal use only The material in this presentation has been prepared by carsales.com Limited (ASX: CAR) ABN 91 074 444 018 (“carsales") and is general background information about carsales’ activities current as at the date of this presentation.
Slide 3: Table of Contents
3 Table of Contents For personal use only Key Messages 4–6 Reported Group Financial Performance 7 – 10 carsales Domestic 11 – 15 carsales International 16 – 20 Outlook 21 – 22 New Product Releases 23 – 32 Appendix 32 – 37
Slide 4: Key Messages
4 For personal use only Key Messages to 30 June 2015
Slide 5: Organisational Structure
5 Organisational Structure For personal use only Acquired NEW 15 July 2014 Acquired NEW 12 March 2015 Acquired NEW 26 June 2015 NEW Announced 7 August 2015 – not formally completed
Slide 6: Overview of FY15
6 Overview of FY15 For personal use only FINANCIAL OVERVIEW • Another record full year result. REPORTED • FY15 pcp growth in revenue of 32%, EBITDA of 12% and NPAT (before one-off REVENUE up gains and post NCI) of 4%. Reported NPAT post NCI up 8% to $103m. 32% to $312m DOMESTIC OVERVIEW • Continued
Slide 7: Reported Group Financial Performance
7 For personal use only Reported Group Financial Performance to 30 June 2015
Slide 8: Financial Overview
8 Financial Overview • Strong growth in revenue rising to $311.8m, up by 32% on pcp. $A Millions Growth Year Ending 30 June 2015 FY14 FY15 $'s % • Operating expenses (before interest and D&A) up 62% on pcp For personal use only Revenue predominantly due to Stratton acquisition (see slide 9 for furth
Slide 9: Financial Overview continued
9 Financial Overview continued… • Reported EBITDA margin has increased from 48.3% in H1 Reported EBITDA Margin Bridge For personal use only FY15 to 49.5% for the FY15 financial year. The acquisition of Stratton is the principle reason for the decrease in margin from 58.7% in FY14 to 49.5% in FY15 (s
Slide 10: Reported Debt and Cash flow
10 Reported Debt and Cash flow Continued strong operating cash flows* Comfortable credit metrics For personal use only Reported Operating Cash flow (column) and Reported Leverage Ratio conversion from EBITDA to cash (line) (Net debt / Annualised EBITDA) Millions Proforma - 100% 112.9 101.8 - 90% Pro
Slide 11: carsales Domestic
11 For personal use only carsales Domestic to 30 June 2015
Slide 12: Domestic Revenue Performance - Summary
12 Domestic Revenue Performance - Summary FY15 SEGMENT REVENUE For personal use only $A Millions Growth Year Ending 30 June 2015 FY14 FY15 $'s % Operating Revenue Dealer 105.2 112.9 7.7 7% Private 39.9 43.0 3.1 8% Display 58.8 60.6 1.8 3% Data, Research and Services* 29.1 33.0 3.9 14% Finance and Re
Slide 13: Domestic Revenue Performance by Segment
13 Domestic Revenue Performance by Segment Dealer revenue up 7% on pcp to $112.9m Dealer For personal use only Millions Millions Pleasing dealer automotive enquiry volume up 4.4% on pcp. Beginning to see positive signs on new car inventory and enquiry volumes. Growth from increased yield across the
Slide 14: Domestic Revenue Performance by Segment
14 Domestic Revenue Performance by Segment Data, Research and Services revenue up 14% to $33.0m Data, Research and Services For personal use only Millions Solid continued growth in Livemarket and Livetrade products. Redbook Australia continued to perform well and maintained its double digit growth.
Slide 15: New Domestic Investments
15 New Domestic Investments Ratesetter For personal use only Stratton and carsales acquired 20% of the Ratesetter business during the year for approximately $10m. Ratesetter is an innovative peer-to-peer financier that provides excellent synergies for short term or low priced vehicle finance. Will b
Slide 16: carsales International
16 For personal use only carsales International to 30 June 2015
Slide 17: International Portfolio
17 International Portfolio For personal use only • International Key Highlights • International now accounts for around 10% of our business. • Double digit revenue growth rates maintained across International. • Investment continuing to position for future growth. • SoloAutos expected to complete H1
Slide 18: Asia – Underlying Results
18 Asia – Underlying Results SKENCARSALES Financials (49.9% Owned - Equity Accounted by CAR) For personal use only 12 months to June 12 months to June Pro-Forma (100%) PCP 30, 2014 30, 2015 KRWb KRWb % Underlying Revenue* 19.0 24.9 31% Strong Financial Results. Reported EBITDA N/A 15.9 N/A Reported
Slide 19: Latin America – Underlying Results
19 Latin America – Underlying Results WebMotors Financials (30% owned - Equity Accounted by CAR) For personal use only 12 Months to June 12 Months to June Pro-Forma (100%) PCP 30, 2014 30, 2015 BRLm BRLm % Reported Revenue 72.8 87.7 20.5% Reported EBITDA 28.1 23.5 (16.3%) Reported EBITDA (%) 38.6 26
Slide 20: Investment in Mexico
20 Investment in Mexico Mexico presents an attractive market for investment For personal use only Second largest economy in Latin America (behind Brazil). Population of over 120 million people; internet usage at around 59 million. Mexico’s 2015 first quarter new car sales volumes increased 22% year
Slide 21: Outlook
21 For personal use only Outlook to 30 June 2015
Slide 22: Performance Outlook
22 Performance Outlook For personal use only carsales Domestic Outlook Domestic trading conditions in the first 6 weeks of FY16 have remained solid. A more detailed trading update will be provided at the October AGM. Expect to continue seeing further growth from newer domestic investments in tyresal
Slide 23: New Product Releases
23 For personal use only New Product Releases to 30 June 2015
Slide 24: New App and Mobile Design
24 New App and Mobile Design For personal use only
Slide 25: Apple Watch
For personal use only Apple Watch 25
Slide 26: Location Search
For personal use only Location Search 26
Slide 27: Guaranteed Consideration
27 Guaranteed Consideration For personal use only
Slide 28: Dealer Premium Products
28 Dealer Premium Products For personal use only
Slide 29: LiveConnect
For personal use only LiveConnect 29
Slide 30: One Autogate for cars
30 One Autogate for cars For personal use only
Slide 31: Dealer Self Service
31 Dealer Self Service For personal use only
Slide 32: Appendix
32 For personal use only Appendix to 30 June 2015
Slide 33: Overview of carsales Non-IFRS Financial Information
33 Overview of carsales Non-IFRS Financial Information What is IFRS and non-IFRS financial information? For personal use only • IFRS financial information is financial information that is presented in accordance with all relevant accounting standards. • Non-IFRS financial information is financial in
Slide 34: Look Through Revenue and EBITDA Performance
34 Look Through Revenue and EBITDA Performance For personal use only Look Through Revenue ($m) Look Through EBITDA ($m) CAGR 18.6% CAGR 16.9% 156.5 301.7 140.4 245.4 119.7 215.2 101.3 184.2 83.8 152.5 229.3 132.2 212.8 110.2 182.1 101.0 150.6 86.4 70.8 39.4 NOTE: carsales “Look Through” methodology
Slide 35: carsales Look Through P&L Analysis
35 carsales “Look Through” P&L Analysis For personal use only * Investments in Tyresales (owned 50% from 1 July 2013), Auto Exchange (owned 50% from 1 July 2013) and Stratton Finance (owned 50.1% from 15th July 2014) are presented with Domestic Investments. NOTE: carsales “Look Through” methodology
Slide 36: For personal use only
For personal use only