Ntaw Holdings Limited. · ASX:NTD
Ntaw — National Tyre & Wheel — H1 FY2019 Earnings Presentation
18 slides from Ntaw's earnings presentation, Feb 26, 2019
Slide 1: Financial Results Six Months to 31 December 2018
For personal use only Financial Results Six Months to 31 December 2018 27 February 12019
Slide 2: Important Information and Disclaimer
Important Information and Disclaimer For personal use only This presentation may contain certain unaudited financial information in relation to National Tyre & Wheel Limited (NTD or the “Company”). As such, it has not been subject to an audit or an audit process or otherwise independently verified
Slide 3: Results Highlights
Results Highlights For personal use only H1 Result consistent with November Guidance H1 Revenue of $83.8m – Group (including Statewide in the pro forma) down ≈ 1% vs the prior corresponding period (PCP) H1 GP = 30.1% (compared to 32.9% in pro forma H1 FY18) Group unit sales (including Statewide in t
Slide 4: Results Highlights
Results Highlights For personal use only Balance Sheet strong with net assets of $68.8m Inventory build ahead of import price rises and for new products Net debt of $0.4m (lower than PCP) due to inventory build M&A activity on hold to focus on core businesses H2 employee expense reduction by restruc
Slide 5: Summary of Results
Summary of Results For personal use only Comments $'000 Pro-Forma Statutory Actual Actual Actual H1 FY19 results represents six months trading for all entities in the NTAW H1 FY2018 H1 FY2018 H1 FY2019 group. Sales revenue 75,375 66,567 83,591 Cost of sales (50,606) (44,784) (58,444) H1 FY19 gro
Slide 6: Balance Sheet & Key Operating Metrics
Balance Sheet & Key Operating Metrics For personal use only $'000 H1 FY19 Actual FY18 31 December 2018 30 June 2018 Current assets Cash and cash equivalents 13,580 19,608 Comments Receivables 20,530 25,900 Inventories 52,532 47,754 Other assets 2,049 2,242 Cash and cash equivalents – The Group has
Slide 7: Cash Flow
Cash Flow For personal use only $'000 H1 FY19 Actual H1 FY18 Actual 31 December 2018 31 December 2017 Comments Profit/(loss) after income tax expense for the half-year 3,848 (22) Receivables – lower due to weaker than expected sales in October and Adjustments for: the shorter December trading peri
Slide 8: Share price and market capitalisation
Share price and market capitalisation For personal use only NTD Share Price Market Cap at ≈ $46m @ $0.45 per share (based on closing price on 22 February, 2019) Net assets at 31 December 2018 = $68.8m 8
Slide 9: National Tyre & Wheel – Strong Foundations
National Tyre & Wheel – Strong Foundations For personal use only Experienced Management Team & Board Specialised brand building business focused on tyre & wheel importing and distribution Leading position in 4WD/SUV tyres, steel wheels & OEM wheels and tyres to caravan manufacturers Peter Ludemann M
Slide 10: Extensive Distribution Platform – Strong Foundations
Extensive Distribution Platform – Strong Foundations For personal use only Senior Management team with over 200 years combined tyre and wheel industry experience Over 200 employees in 3 countries 12 Distribution Centres operated by NTAW 7 Warehouse operated by 3rd parties 10
Slide 11: A diversified tyre and wheel wholesaler
A diversified tyre and wheel wholesaler For personal use only New Zealand Australia South Africa South Australia 11
Slide 12: Building Leading Brands – Tyres
Building Leading Brands – Tyres For personal use only Exclusive importer and distributor of - Cooper and Mickey Thompson 4WD, SUV and passenger tyres in Australia, New Zealand and South Africa - All Federal tyres in Australia (ex Qld) and New Zealand - Mastercraft, Dick Cepek and Starfire tyres in A
Slide 13: Building Leading Brands – Wheels & MPC
Building Leading Brands – Wheels & MPC For personal use only Dynamic – specialising in steel wheel importing and distribution in Australia and New Zealand, with Tyrelife launching in South Africa in H2 MPC – specialising in OE solutions for caravan and trailer manufacturers in Australia Proprietary
Slide 14: Trading and operations year to date
Trading and operations year to date For personal use only During H1 the Group experienced tough trading conditions. Gains made from sales growth in wheels, all product categories in NZ , OE equipment (MPC), passenger and all terrain tyres (in Australia) have been offset by difficult conditions for l
Slide 15: Trading and operations year to date
Trading and operations year to date For personal use only Recognising that pressure on gross profit will continue in H2, ETD Australia in February re-organised its customer service/call centre activities and sales teams in Queensland and New South Wales, along with some other staff. The resulting re
Slide 16: Outlook
Outlook For personal use only H2 Outlook. - Revenue guidance of $170-180m for FY19 might be exceeded if we achieve improved performance from ETD Australia (SUV push, customer growth), Tyrelife (South Africa) (new products), Statewide (procurement gains) and MPC (new customers). The result will be be
Slide 17: FY19 Key Activities
FY19 Key Activities For personal use only ETD SUV push and the ATT launch H2 Revenue synergies (all Group Businesses) Ongoing Dynamic wheels in South Africa H2 Tyrelife – new products H2 ETD Australia new COO March MPC customer growth Ongoing ETD key customer co-op promotions March/April ETD NZ prom
Slide 18: Questions
For personal use only Questions Thank you 18
National Tyre & Wheel — H1 FY2019 Earnings Presentation on 6ix