Tourism Holdings Limited · NZX:THL
Tourism — H1 FY2014 Earnings Presentation
12 slides from Tourism's earnings presentation, Feb 26, 2014
Slide 1: 6 Months Dec 2013 Financial Overview
6 Months Dec 2013 Financial Overview Tourism Holdings Limited 26th February 2014
Slide 2: NPAT 6 months to Dec 2013
NPAT 6 months to Dec 2013 2 • Turnaround from NPAT loss of $0.5m to profit of $2.5m • Forecast for FY14 $10.5m NPAT
Slide 3: Operating Profit (EBIT) 6 months Dec 2013 vs pcp
Operating Profit (EBIT) 6 month Dec 2013 vs pcp $m €T0799d Lda ywoddns dnoip HH ZT 20q Ul 4288 sjeqad ZN Jo SOD eyesysny sjequay Sn Jeg peoy gjequay ZN dnoip wsynoy 7107990 Ld uoN I ZN Cth
Slide 4: EBIT 6 months to June 2014 comparison
EBIT 6 months to June 2014 comparison 4 • 54% growth in EBIT in the 6 months to June 2014 vs the same period last year • Reflects strong NZ summer in rentals and tourism businesses
Slide 5: NPAT 6 months to June 2014 forecast vs pcp
NPAT 6 months to June 2014 forecast vs pcp 5 • Forecast 86% growth in NPAT in the 6 months to June 2014 vs the same period last year • NPAT growth reflects strong NZ summer in rentals and tourism businesses and in addition the turnaround in the manufacturing JV and lower interest costs with reduced
Slide 6: EBITDA forecast
EBITDA forecast 6 • Earnings Before Interest Tax and Depreciation -EBITDA $26m for the 6 months to Dec 2013. • Forecast circa $59m for full year FY2014
Slide 7: Net Debt
Net Debt 7 • 1st November 2012 $156m at start of merged NZ rentals business. • $97m at Dec 2013 • Forecast $95m June 2014 (After payment of $5.5m dividend April 2014)
Slide 8: JV Manufacturing turnaround
JV Manufacturing turnaround 8 • 200% increase with $0.7m loss turned into a $0.7m profit • Reflects stability in production and work on achieving plant efficiencies
Slide 9: Capital Expenditure
Capital Expenditure 9 • Significantly reduced capital expenditure in Australia due to difficult trading conditions • NZ rentals reduced after merger • USA stable with solid return on funds employed
Slide 10: Fleet Sales
Fleet Sales 10 • Fleet sales forecast at circa $70m for FY2014 • Growth in six months reflects 6 months of merged NZ businesses vs 2 months in pcp • AU sales down in six months reflecting election uncertainty
Slide 11: Dividend and Imputation Credits
Dividend and Imputation Credits 11 • Dividend of 5cps fully imputed payable 17 April 2014 with an ex date of 8th April and record date 10th April. • This fully utilises thl’s remaining imputation credit balance • Current forecasts indicate that carried forward tax losses in NZ should be fully utilis
Slide 12: Customer Proposition
“creating unforgettable holiday experiences”