Move Logistics Group Limited · NZX:MOV
Move Logistics — Shareholder Meeting (October 2024)
33 slides from Move Logistics's shareholder meeting presentation, Oct 24, 2024
Slide 1: Chair address: Board of Directors and leadership
MOVE 2024 ANNUAL MEETING OF SHAREHOLDERS CHAIR, JULIA RAUE Tena koutou katoa. Good afternoon everyone and a warm welcome to the MOVE Logistics 2024 Annual Shareholder Meeting. I’m Julia Raue, the Chair of your Board of Directors. Board of Directors With me here today are our Directors - Greg Whitham
Slide 2: Responding to Market and Business Challenges
Responding to Market and Business Challenges The FY24 year delivered some of most challenging trading conditions seen in the industry in recent times. Cost inflation continued to rise, margins were under pressure, and customer demand reduced significantly as businesses cut costs, public spending was
Slide 3: Accelerate programme and MOVE's inherent value
keeping you updated on our progress. We are instilling a culture and mindset that ensures we are fighting fit, with an appropriate operating model and cost base to support this. The Accelerate programme is focused on three pathways, which Paul will talk to in more detail. We believe these will help
Slide 4: Getting the fundamentals right
specialised lifting and transport, and our trans-Tasman shipping service. This broad offering is fit for purpose and relevant to win. Getting the fundamentals right A lot of work has been done over the last two years to ensure MOVE has some strong fundamentals in place. Our end to end supply chain o
Slide 5: For personal use only
In some cases, we have had to unwind positions that were built up in anticipation of economic recovery and growth. We’ve accelerated the sale of old and excess fleet to release cash, and have also entered sale and leaseback agreements for some of our fleet. Our metro delivery operations used to oper
Slide 6: High performance culture and FY25 outlook
High performance culture A clear simple plan is in place. It now comes down to culture and capability. People will drive our success and we have tasked them with a focus on four things to ensure we deliver: Cost obsession, Customer First, Leadership and Quality Decisions. We are seeing great engagem
Slide 7: MOVE Logistics Group 2024 Annual Meeting
MOVE LOGISTICS GROUP LIMITED For personal use only 2024 ANNUAL MEETING 24 October 2024
Slide 8: Chair Julia Raue
For personal use only CHAIR JULIA RAUE 2
Slide 9: Voting and asking questions
VOTING AND ASKING QUESTIONS For personal use only Voting Card Question box 3
Slide 10: Agenda
AGENDA Welcome and Introductions For personal use only Chair and CEO Presentations Shareholder Discussion Resolutions General Business Close of the Meeting 4
Slide 11: Board
BOARD For personal use only Greg Whitham Lachie Johnstone Non-independent Director Independent Director Standing for election Standing for election Julia Raue Independent Chair Last re-elected 2023 Appointed Chair June 2024 Mark Newman Grant Devonport Independent Director Independent Director Retiri
Slide 12: Leadership Team
LEADERSHIP TEAM For personal use only Paul Millward Lee Banks Rachel Hustler Ricky Clark Nick Ward Interim CEO CFO GM People & Culture GM Sales GM Technology Craig Leishman Anthony Browne Warwick Bell David King GM Warehousing GM Oceans GM Specialist Lifting Freight – Consultant Recruitment underway
Slide 13: Responding to Market & Business Challenges
RESPONDING TO MARKET & BUSINESS CHALLENGES Accelerated change plan in place from 1 July 2024 For personal use only Investment made Cost of doing business Priority to adjust Moving at pace. into growth too high; clear step strategy, rightsize Priority - cashflow strategy ahead of change needed to and
Slide 14: FY24 Results Snapshot
FY24 RESULTS SNAPSHOT Results below aspirations; significant improvement targeted in FY25 • For personal use only 2H24 Normalised EBITDA ahead of 1H24, in line with INCOME EBITDA EBT NLAT2 Normalised1 Normalised1 guidance $301.7m $ 27.6m $(25.7)m $(48.1)m • Disappointing result FY23: $347.7m FY23: $
Slide 15: Accelerate Programme
ACCELERATE PROGRAMME Improve financial performance and build shareholder value For personal use only RECALIBRATE PROFITABLE BALANCE THE REVENUE SHEET BUSINESS GROWTH RESILIENCE FY25 TARGETS: Positive adjusted net operating cashflow; Significant improvement in normalised EBT FY26 TARGET: Return to no
Slide 16: MOVE's Inherent Value & Strong Offer
MOVE’S INHERENT VALUE & STRONG OFFER For personal use only Nationwide network and specialised expertise Multi-modal, end to end supply chain solutions Customer focused, culture of service excellence Experienced and passionate team Competitive, reliable and value-adding partner 10
Slide 17: CEO Paul Millward
For personal use only CEO PAUL MILLWARD 11
Slide 18: Our Business
OUR BUSINESS FREIGHT WAREHOUSING For personal use only FUELS SPECIALIST OCEANS 12
Slide 19: Getting the fundamentals right
GETTING THE FUNDAMENTALS RIGHT IN PLACE THE DIFFERENCE NEEDED For personal use only • End to end supply chain • Right organisation structure • Increasingly multi-modal • Commercial decisions driven by data • Strong brand • Commercial assertiveness • Nationwide network • Step change in culture • Cust
Slide 20: The Accelerate Programme
THE ACCELERATE PROGRAMME Goals to improve financial performance, build positive cashflow and deliver value to shareholders, while continuing to provide great service to MOVE customers For personal use only PROFITABLE REVENUE BALANCE SHEET RECALIBRATE THE BUSINESS GROWTH RESILIENCE • Control and redu
Slide 21: Recalibrate the Business
RECALIBRATE THE BUSINESS Progress Update • Well underway on cost reduction and cash For personal use only improvement programme • Completed analysis of route demand and profitability • Right-sizing of network, fleet and team, while retaining ability to flex with expected demand: • Accelerated the pl
Slide 22: Profitable Revenue Growth
PROFITABLE REVENUE GROWTH Progress Update For personal use only • Trading conditions remain challenging, with reduced levels of customer activity across the sector • Focus on customer retention alongside strong sales pipeline, supported by stronger sales structure • Full value pricing • Warehousing
Slide 23: Balance Sheet Resilience
BALANCE SHEET RESILIENCE Progress Update For personal use only • New funding arrangements in place; provides Cashflow $m FY24 FY23 commercial firepower to deliver the Accelerate programme Cash from operating activities 18.7 38.4 • Release of $2.9m cash YTD from asset sales and sale Lease principal p
Slide 24: High Performance Culture
HIGH PERFORMANCE CULTURE For personal use only Team behaviours that will drive our success: • Cost Obsession • Customers are Everything • Be a Leader • Quality Decisions 18
Slide 25: FY25 Outlook
For personal use only FY25 OUTLOOK 19
Slide 26: FY25 Progress and Outlook
FY25 PROGRESS AND OUTLOOK Change plan will create • Continuation of a challenging economic environment For personal use only a stronger, streamlined • Freight - competitive but seeing positivity in Auckland in business. terms of tonnage with margins improving slowly FY25 turnaround year; • Increasin
Slide 27: Discussion
For personal use only DISCUSSION 21
Slide 28: Resolutions
For personal use only RESOLUTIONS 22
Slide 29: Resolutions
RESOLUTIONS RESOLUTION 1: To record the re-appointment of PricewaterhouseCoopers as the Company’s auditor For personal use only and to authorise the Directors to fix the auditor’s remuneration for the ensuring year. RESOLUTION 2: Under NZX Listing Rule 5.1.1(b), to approve an increase in the facilit
Slide 30: Other Business / Close of the Meeting
For personal use only OTHER BUSINESS CLOSE OF THE MEETING 24
Slide 31: Appendices
For personal use only APPENDICES 25
Slide 32: Financial Measures
Financial Measures MOVE Logistics Group uses several non-GAAP measures when discussing $Millions FY24 FY23 financial performance, and believe these provide a better reflection of Net profit/(loss) before income tax (GAAP measure) (45.3) (7.6) the company’s underlying performance. Add back: Glossary:
Slide 33: Disclaimer
Disclaimer This presentation has been prepared by MOVE Logistics Group Limited (“MOV”). The information in this presentation is of a general nature only. It is not a complete description of MOV. For personal use only This presentation is not a recommendation or offer of financial products for subscr
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