Maxiparts Limited · ASX:MXI
Maxiparts — MaxiTRANS Industries — Shareholder Meeting (October 2011)
16 slides from Maxiparts's shareholder meeting presentation, Oct 21, 2011
Slide 1: Annual General Meeting 21st October, 2011
For personal use only MaxiTRANS Industries Limited Annual General Meeting 21st October, 2011
Slide 2: Financial Highlights
Financial Highlights For personal use only FY09 FY10 FY11 % Change $000 $000 $000 on FY10 Revenue 252,621 235,387 202,476 (14%) EBITDA 7,339 14,741 11,230 (24%) NPBT (993) 7,124 4,341 (39%) NPAT (1,894) 5,766 4,171 (28%) These results include the following non-operating items: Impairment (6,137) - -
Slide 3: Financial Highlights (cont)
Financial Highlights (cont) For personal use only FY09 FY10 FY11 $000 $000 $000 Operating Cash Flow 14,072 8,723 9,058 Net Debt 24,236 21,905 9,779 Net Debt/Equity % 29% 25% 11% EPS (Basic) (1.09) cents 3.17 cents 2.27 cents Dividend declared 1.0 cent 2.0 cents 1.5 cents Dividend as % of EPS - 63% 6
Slide 4: FY11 Overview
FY11 Overview For personal use only • Commenced the year with slow order intake • Restructuring costs and associated short term inefficiencies in excess of $3.5m NPBT • Order intake in FY11 down 12% on FY10 • Order intake in 2H11 up 30% on 1H11 • Major contracts secured in 4Q11 • Another record cont
Slide 5: Strategic Achievements in FY11
Strategic Achievements in FY11 For personal use only • Enhanced Competitiveness: − Consolidation of manufacturing activities – improved efficiencies and reduced overheads (estimated $2 million p.a.) • Expansion in China: − Acquisition of 100% of MTC − New and expanded manufacturing facility under co
Slide 6: Parts
Parts For personal use only • Record profit contribution in FY11 (up 112% on pcp) • Significant contribution from NSW branch (Sales up 83% on pcp) • Sales growth from new product ranges (lights, signage, tools etc) • Tyre sales continue to grow strongly (Sales up 363% on pcp) • Further growth expect
Slide 7: Trailers
Trailers For personal use only • Unit sales down 29% on pcp • 2H11 order intake up 50% on 1H11 • New Freighter AutoHold launched at Brisbane Truck Show − Load restraint curtains − No buckles or straps − Patent Pending • Strong order bank to start FY12 (up 78% on pcp) • Strong first quarter FY12: − U
Slide 8: Vans
Vans For personal use only • Unit sales down 27% on pcp • 2H11 order intake up 67% on 1H11 • Strong order bank to start FY12 (up 32% on pcp) • Classic C Series (full chassis van) well received by customers • Strong first quarter FY12: − Unit sales up 185% on pcp − Order intake up 109% on pcp. Maxi-C
Slide 9: Tippers
Tippers • FY11 unit sales down 24% on pcp For personal use only • 2H11 order intake up 14% on 1H11 • Agricultural demand improved in 2H11 • Hamelex White manufacturing successfully transferred to Ballarat • New Dandenong sales, service and parts facility • New products being launched for resources s
Slide 10: Resources Sector
Resources Sector For personal use only • ABARES forecasts energy & mineral exports to grow from $186B (FY11) to $219B (FY16)* • Have supplied resource sector for over 5 years: − 260 units sold thus far − $28m value • Senior Manager appointed to grow the business • New and updated product range being
Slide 11: New Zealand
New Zealand For personal use only • FY11 profit contribution up 457% on pcp • FY11 unit sales up 48% on pcp • FY11 order intake up 246% on pcp • New, larger factory opened October 2012 • Expanded product ranges from new facility • Strong result expected FY12 Recent contract • Strong first quarter FY
Slide 12: MTC – Yangzhou, China
MTC – Yangzhou, China For personal use only • Major panel supplier to Chinese body builders • Remaining 50% equity acquired January 2011 • Refrigerated road transport market in China forecast to grow at 10% CAGR to 2014* * TechNavio: “Refrigerated Road Transport Market in China 2010-2014” July 2011
Slide 13: Joint Venture
Joint Venture For personal use only Freighter Maxi- Maxi-CUBE Qld (36.67%): • FY11 Contribution down 32% on pcp • Slow trailer and van market • Adverse effects of Brisbane floods and North Qld cyclone FMQ Head Office flooded Jan. 2011 • First quarter FY12 contribution up 5% on pcp. Trailer Sales NQ,
Slide 14: Carbon Tax (Clean Energy Future)
Carbon Tax (“ (“Clean Energy Future” Future”) The Carbon Tax affects two areas of the business: For personal use only • Impact on MaxiTRANS (Preliminary View): − Cost increases expected in: – Locally sourced components – Utilities – Raw materials − Other local trailer manufacturers similarly affecte
Slide 15: Outlook FY12
Outlook FY12 For personal use only • Order intake for first quarter of FY12 up 65% on pcp − Solid order intake for trailers & vans − Strong agricultural sector demand for tippers • Another record contribution expected from Colrain • New Zealand: strong growth from expanded product range and capacity
Slide 16: For personal use only
PERI, HamelexWhite LUSTY EMS i \ SAS
MaxiTRANS Industries — Shareholder Meeting (October 2011) on 6ix