Slide 1: MaxiTRANS Industries Limited Year Ended 30 June 2009
For personal use only MaxiTRANS Industries Limited Year Ended 30 June 2009
Slide 2: Financial Highlights
Financial Highlights For personal use only FY06 FY07 FY08 FY09 % Change $000 $000 $000 $000 on FY08 Sales 244,960 236,553 290,740 252,621 (13%) Underlying 20,088 18,180 30,309 14,904* (51%) EBITDA Underlying 11,772 9,800 21,943 6,572* (70%) NPBT Underlying 9,313 8,018 16,101 5,243* (67%) NPAT Impair
Slide 3: Financial Highlights (cont)
Financial Highlights (cont) For personal use only FY06 FY07 FY08 FY09 $000 $000 $000 $000 Operating Cash Flow 19,308 5,543 18,600 14,072 Net Debt 36,508 39,385 32,574 24,236 Net Debt/Equity % 49% 51% 36% 29% EPS (Basic) 5.42 cents 4.67 cents 9.38 cents 3.02 cents* Dividend declared 4.25 cents 4.0 ce
Slide 4: FY09 Overview
FY09 Overview For personal use only • Strong order banks at start of year • Order intake declined across most brands in 1H09 • Lack of credit and loss of confidence depressed sales • Highly competitive market conditions • Enquiry rates maintained but quote conversion rates fell by over 50% until Apr
Slide 5: FY09 Overview: Strategies implemented
FY09 Overview For personal use only Strategies implemented: • Working capital management – inventory reduced by $10.4m (down 23%) • Capex and discretionary spending frozen • Salaries frozen plus a 10% reduction for Directors and Senior Management • Reduced working days, use of annual leave and exten
Slide 6: Trailers
Trailers For personal use only • Strong order bank at start of year • Unit sales down 39% on pcp due to GFC • Aggressive approach to retain customers and volume • Load Hold and EziLiner gaining share T-Liner Drop Deck • Major contracts: Linfox, Australia Post, K&S • Order intake and order bank showi
Slide 7: Vans & Bodies
Vans & For personal use only • Strong order bank at start of year • Unit sales down 33% on pcp • Aggressive and highly competitive market Maxi-CUBE Reefer Van • Major contracts: Lindsay Australia, Woolworths • Recent signs of market improvement • Improved order bank. Peki’s 1000th Van (reefer)
Slide 8: Tippers
Tippers For personal use only • Record number of units sold (+17% on pcp) • Strong rural sector (Qld, SA, Northern NSW) • Order bank maintained throughout the year • Growth in repairs and service operation • Strengthened sales/distribution (SA and north Qld) • Stag B-Double popularity rising once ag
Slide 9: Tippers
Tippers For personal use only • FY09 opened with strong order bank • Unit sales down 23% on pcp • Construction sector collapsed (Truck and Dog market) • Strong price competition in urban and construction sectors • Robot welding and new CAD systems delivering gains • Order intake and order bank impro
Slide 10: Parts
Parts For personal use only • Revenue similar to prior year • Margins impacted by rapid fall in A$ in 1H09 • Working capital, staff numbers and costs reduced • Key supplier arrangements re-negotiated ongoing savings • Expanded and strengthened retail and wholesale paying dividends • New products: Me
Slide 11: New Zealand
New Zealand For personal use only • NZ trailer market declined 29% in FY09 to record low • Growth in sales of rigid truck bodies • Encouraging recent order intake • Strong order bank. Quad Axle Slide-A-Side Refrigerated Truck Body and Quad Axle Dog Trailer
Slide 12: Joint Ventures
Joint Ventures For personal use only Freighter Maxi-CUBE Qld (36.67%): • Positive contribution to MXI despite impact of GFC • Contribution down 27% vs. pcp after 5+ years of steady growth • Acquired Trailer Sales North Queensland – good growth opportunity Yangzhou Maxi-CUBE Tong Composites Co. Ltd.
Slide 13: Outlook FY10
Outlook FY10 For personal use only • Recent improvements in order intake across the business • Benefits expected from improved margins and lower cost base • Well positioned to take advantage of opportunities: • Strong balance sheet • Bank facilities in place • Experienced management • Market leading
Slide 14: For personal use only
For personal use only