Maxiparts Limited · ASX:MXI
Maxiparts — MaxiTRANS Industries — H1 FY21 Earnings Presentation
19 slides from Maxiparts's earnings presentation, Feb 19, 2021
Slide 1: MaxiTRANS Industries Limited H1 FY21 Investor Presentation
For personal use only MaxiTRANS Industries Limited H1 FY21 Investor Presentation
Slide 2: 1H FY21 Highlights
For personal use only 1H FY21 HIGHLIGHTS 2
Slide 3: 1H FY21 Results
1H FY21 RESULTS For personal use only • Strengthened Balance Sheet resulted in favourable net cash position of $2.8m improved by $14.9m from a $12.1m net debt position at the end of FY20 • Operating Cashflow of $21.6m generated • External sales of $184.6m, up 12.9% from pcp • Trailers revenue of $12
Slide 4: Financial Overview
FINANCIAL OVERVIEW Results For personal use only A$M HY21 HY20 Change Change % • Revenue up 12.9% from pcp due to stronger volumes in External Revenue 184.6 163.5 21.1 12.9% H1 FY21 particularly for Trailers in Q2 FY21 EBITDA (Underlying) 14.7 6.5 8.1 125.2% • Trailer Solutions experienced revenue i
Slide 5: Earnings Bridge
For personal use only EARNINGS BRIDGE 5
Slide 6: Cashflow
CASHFLOW A$M HY21 HY20 For personal use only EBITDA (Underlying) 14.7 6.5 Change in Working Capital 8.8 2.7 Other (1.9) (2.8) Operating Cashflow 21.6 6.4 Dividends Received 1.5 1.1 CAPEX (3.5) (1.8) Lease Payments (4.8) (4.1) Free Cashflow 14.8 1.6 Net Debt (2.8) 30.4 Cashflow highlights: • Continue
Slide 7: Balance Sheet
BALANCE SHEET A$M HY21 FY20 FY19 • A dedicated focus on cash generation has significantly For personal use only Cash 26.5 25.5 11.9 strengthened MaxiTRANS Balance Sheet with a net cash Receivables 21.7 26.5 42.4 position of $2.75m achieved at 1H FY21 Inventories 52.1 58.4 59.3 Total Current Assets 1
Slide 8: Business Unit Performance
For personal use only BUSINESS UNIT PERFORMANCE 8
Slide 9: Two Complementary Businesses
TWO COMPLEMENTARY BUSINESSES For personal use only MaxiPARTS Differentiators Trailers Differentiators A national store footprint in Strong brand heritage the right locations and reputation Broadest range of products, Unique technology enabled national distribution and customer solutions service capa
Slide 10: Segment Earnings – MaxiPARTS
SEGMENT EARNINGS – MaxiPARTS A$M 1HFY21 2HFY20 1HFY20 • 1H FY21 Revenue of $68.6m increased by 8.7% or $5.5m over H2 FY20 recovering from the COVID-19 For personal use only Total Revenue 68.6 63.1 67.7 External Revenue 58.8 55.4 59.0 revenue challenges quicker than expected, EBITDA excl Corporate Co
Slide 11: Trailers: A Diverse Portfolio of Brands
TRAILERS A DIVERSE PORTFOLIO OF BRANDS EXPOSED TO MULTIPLE SEGMENTS OF THE ECONOMY For personal use only Bulk Transport • Infrastructure • Housing Starts • Agriculture • Waste • Mining • Population Growth pcp 21.4% 45% pcp 44.2% General Freight • Population Growth Food & Grocery pcp 34.5% • Consumer
Slide 12: Segment Earnings – Trailers (Australia & NZ)
SEGMENT EARNINGS – TRAILERS (AUSTRALIA & NZ) A$M 1HFY21 2HFY20 1HFY20 • Revenue increased by 21.4% over H1 FY20 • Sales volume was driven by an increase in food & grocery customers in some For personal use only Total Revenue 126.9 100.9 104.6 External Revenue 125.8 98.7 104.5 cases bringing forward
Slide 13: Relocation to Carole Park (Brisbane)
RELOCATION TO CAROLE PARK (BRISBANE) For personal use only • MaxiTRANS relocated its Queensland Manufacturing operations from Richlands to a purpose built facility at Carole Park (Brisbane) in Nov-20 • Relocation will generate manufacturing efficiencies of +$2.3m pa plus add product portfolio flexib
Slide 14: Strategy Update
For personal use only STRATEGY UPDATE 14
Slide 15: 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: • Safety - Continued focus on improving our safety performance to not only ensure we send our
Slide 16: Outlook
For personal use only OUTLOOK 16
Slide 17: FY21 Outlook
FY21 OUTLOOK • The group remains cautious about the economic outlook in calendar year 2021, though has seen many positives in both the For personal use only resilience and consistency in the MaxiPARTS trading performance and a strong order bank at end of calendar year 2020 for the Trailers CGU, whic
Slide 18: 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 18
Slide 19: 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