Maxiparts Limited · ASX:MXI
Maxiparts — MaxiTRANS Industries — FY2020 Earnings Presentation
22 slides from Maxiparts's earnings presentation, Aug 21, 2020
Slide 1: Results Presentation – Year Ended 30 June 2020
21 August 2020 For personal use only Results Presentation –Year Ended 30 June 2020 Attached is MaxiTRANS Industries Limited’s Results Presentation for the financial year ended 30 June 2020. Authorised for release by the MaxiTRANS Industries Limited Board of Directors Enquiries Dean Jenkins Tim Bradf
Slide 2: MaxiTRANS Industries Limited FY2020 Investor Presentation
For personal use only MaxiTRANS Industries Limited FY2020 Investor Presentation
Slide 3: FY20 Highlights
For personal use only FY20 HIGHLIGHTS 2
Slide 4: FY20 Results
FY20 RESULTS For personal use only • Strengthened Balance Sheet resulted in Net Debt reducing by $19.9m to $12.1m, down from $32m • Operating Cashflow increased to $31.4m • External sales of $317.6m, down 9.9% with MaxiPARTS maintaining its consistent performance • Underlying EBITDA of $14.7m ($5.3m
Slide 5: Financial Overview
FINANCIAL OVERVIEW Results For personal use only • MaxiPARTS business held up well in the FY20 FY20 Pre FY19 Pre AASB16 current market increasing revenue by A$M Reported AASB16 Reported ** YoY % 1.5% External Revenue* 317.6 317.6 352.5 -9.9% • Trailer Solutions experienced revenue EBITDA (Underlying
Slide 6: Earnings Bridge
EARNINGS BRIDGE For personal use only * Whilst not quantified, the impact of COVID-19 on the business is considered in this section 5
Slide 7: Cashflow
CASHFLOW A$M FY19 FY20 For personal use only EBITDA (Underlying) 14.2 14.7 Change in Working Capital (9.1) 14.1 FY19 vs FY20 Operating Cashflow Bridge Other (11.1) 2.6 Operating Cashflow (6.1) 31.4 Dividends Paid (2.8) 0.0 Dividends Received 1.4 2.2 CAPEX (13.2) (5.4) Lease Payments * 0.0 (8.5) Othe
Slide 8: Balance Sheet
BALANCE SHEET For personal use only A$M FY19 FY20 • A dedicated focus on cash generation has Cash 11.9 25.5 significantly strengthened MaxiTRANS Balance Receivables 42.4 26.5 Sheet with Cash at Bank up +200% over FY19 Inventories 59.3 58.4 • Interest Bearing Loans have reduced by 15% Total Current A
Slide 9: CAPEX
CAPEX For personal use only Rental Fleet • Challenging economic conditions drew increased CAPEX focus on balancing CAPEX and operational needs ERP (TRANSform) 18 16 • IT systems (ERP and associated systems) 14 13.2 investment to conclude in FY21 12 3.8 10 • ERP Live in Manufacturing with rest of Tra
Slide 10: Relocation to Carole Park (Brisbane)
RELOCATION TO CAROLE PARK (BRISBANE) For personal use only • FY21 will see MaxiTRANS relocate its Queensland Manufacturing operations from Richlands to a purpose built facility at Carole Park (Brisbane) • Relocation will generate manufacturing efficiencies of +$2.3m pa plus add product portfolio fle
Slide 11: Business Unit Performance
For personal use only BUSINESS UNIT PERFORMANCE 10
Slide 12: Two Complementary Businesses
TWO COMPLEMENTARY BUSINESSES For personal use only FY20 Segment Revenue Contribution MaxiPARTS Differentiators Trailers Differentiators A national store footprint in Parts 36% Strong brand heritage the right locations Trailers 64% and reputation Broadest range of products, Unique technology enabled
Slide 13: MaxiPARTS: Extensive Range of Parts/Consumables and Expertise
MAXIPARTS EXTENSIVE RANGE OF PARTS/CONSUMABLES AND EXPERTISE For personal use only • Distribution of leading genuine brands as well as extensive FY20 Revenue by Product classification range of aftermarket commercial vehicle parts Other general products, Axles, Suspensions, Tyres, 34% Wheels & Brakes
Slide 14: Segment Earnings – MaxiPARTS
SEGMENT EARNINGS – MaxiPARTS For personal use only FY20 FY20 pre- Reported AASB16 FY19 FY18 FY17 FY16 MaxiPARTS continues to become a A$M Total Revenue 130.8 130.8 133.5 127.4 99.9 97.2 larger share of the MaxiTRANS External Revenue EBITDA excl Corporate Costs 114.4 16.0 114.4 11.7 112.7 11.2 101.9
Slide 15: Trailers: A Diverse Portfolio of Brands
TRAILERS A DIVERSE PORTFOLIO OF BRANDS EXPOSED TO MULTIPLE SEGMENTS OF THE ECONOMY For personal use only Bulk Transport FY20 PRODUCT REVENUE CONTRIBUTION • Infrastructure • Housing Starts • Agriculture • Waste • Mining • Population Growth 23% 45% General Freight • Population Growth Food & Grocery 32
Slide 16: Segment Earnings – Trailers (Australia & NZ)
SEGMENT EARNINGS – TRAILERS (AUSTRALIA & NZ) FY20 FY20 pre- For personal use only FY19 FY18 FY17 FY16 Reported AASB16 A$M Total Revenue 205.5 205.5 240.5 298.5 233.9 235.4 • Revenue declined by 15.4% over FY19 External Revenue 203.2 203.2 240.2 290.9 232.2 233.5 principally due to external market EB
Slide 17: Strategy Update – Focusing on the Near Term
For personal use only STRATEGY UPDATE – FOCUSING ON THE NEAR TERM 16
Slide 18: Strategic Activity to Focus on Near Term
STRATEGIC ACTIVITY TO FOCUS ON NEAR TERM For personal use only Whilst maintaining consistent pathways of strategy the scope has been refined to ensure we underpin continued focus on balance sheet prudence: • Operational excellence - ensure the group’s systems and processes deliver high quality, cost
Slide 19: Outlook
For personal use only OUTLOOK 18
Slide 20: FY21 Outlook
FY21 OUTLOOK For personal use only • While the ongoing impacts of COVID-19 remain very uncertain in both near and medium term, MaxiTRANS will remain focused on efficient use of capital and shorter-term financial controls. Investment in any new growth programs will be constrained for the foreseeable
Slide 21: Values
VALUES For personal use only SEND ALL OUR A BALANCED FOCUS ENABLE AND PEOPLE HOME ON CUSTOMERS EMPOWER PEOPLE SAFELY AND RESULTS TO ACHIEVE RESULTS BE HONEST, ENCOURAGE BECOME BETTER FORTHRIGHT AND COLLABORATION EVERY DAY IN ALL ETHICAL IN OUR AND DEEP SEATED THAT WE DO DEALINGS ACCOUNTABILITY 20
Slide 22: Important Information
IMPORTANT INFORMATION For personal use only This document should be read in conjunction with the periodic and continuous disclosure announcements of MaxiTRANS Industries Limited (MaxiTRANS) that have been lodged with the ASX, in particular the financial report for the full-year ended 30 June 2019 (a