Maxiparts Limited · ASX:MXI
Maxiparts — Shareholder Meeting (November 2021)
34 slides from Maxiparts's shareholder meeting presentation, Nov 3, 2021
Slide 1: MaxiPARTS Limited 2021 Annual General Meeting
3 November 2021 For personal use only MaxiPARTS Limited 2021 Annual General Meeting Chairman’s and Managing Director’s Addresses Attached are the Chairman’s Address, Managing Director’s Address and presentation to be delivered at today’s Annual General Meeting. Authorised by: Contact: Peter Loimaran
Slide 2: Chairman's Address
3 November 2021 MaxiPARTS Limited 2021 Annual General Meeting For personal use only Chairman’s Address I would like to start by thanking our staff, as I did last year. I recognised their efforts in keeping everyone safe and enabling our operations to continue serving our customers despite the ravage
Slide 3: Chairman's Address (continued)
a business which is very operationally capable, aware of the daily details required to run a national distribution business and well aware of the range of levers which can be pulled depending on the challenges of the day. While we will work with the management team over the coming months to define i
Slide 4: Chairman's Address (conclusion)
you and Valerie continued happiness. I know MaxiPARTS will not be far from your thoughts. Jim, thank you on behalf of all of us. -END- For personal use only
Slide 5: Managing Director's Address
3 November 2021 MaxiPARTS Limited For personal use only 2021 Annual General Meeting Managing Director’s Address It is an honour to make my first Managing Director’s address to shareholders. Given the significant change with the sale of the Trailer Solutions business, this address will obviously have
Slide 6: FY21 Results
The Total Recordable Injury Frequency Rate (TRIFR) for the group finished the year at 20.1 injuries per million hours worked. The ongoing MaxiPARTS business recorded a total recordable injury frequency rate (TRIFR) for FY21 of 9.3. Within MaxiPARTS we have recently re-assessed our key health and saf
Slide 7: Strategy Update
The growth over this period has come from a consistent store network with no acquisitions or new site openings taking place, but instead a strong focus on organic initiatives involving both product range expansion and various customer solutions. In a similar fashion to the FY21 profit improvement, o
Slide 8: Outlook
We have been pleasantly surprised by the pipeline of opportunities which have developed since we announced the sale of the Trailer Solutions business. While we have nothing concrete yet, we remain confident of adding value through this program in both the short and long term horizons. Outlook For pe
Slide 9: MaxiPARTS Limited Annual General Meeting 2021
For personal use only MaxiPARTS Limited Annual General Meeting 2021
Slide 10: Online Attendees – Text Question Process
ONLINE ATTENDEES – TEXT QUESTION PROCESS 123-456-789 For personal use only When the question function is available, the messaging tab will appear at the top of the screen To submit a question, type your question in the “Ask a question” box and press the send arrow Your question will be sent immediat
Slide 11: Online Attendees – Audio Question Process
ONLINE ATTENDEES – AUDIO QUESTION PROCESS 123-456-789 For personal use only When the audio questions line is available, a link will appear on the home tab titled Asking Audio Questions If you would like to ask an audio question, pause the meeting broadcast and click on the link You will be prompted
Slide 12: Online Attendees – Voting
ONLINE ATTENDEES – VOTING 123-456-789 For personal use only When open, the vote will be accessible by selecting the voting tab at the top of the screen To vote simply select the direction in which you would like to cast your vote. The selected option will change colour. For Against Abstain There is
Slide 13: Board of Directors
BOARD OF DIRECTORS For personal use only James Curtis Rob Wylie Peter Loimaranta Deputy Chairman, Chairman, Non-Executive Managing Director & CEO Non-Executive Director Mary Verschuer Greg Sedgwick Gino Butera Director, Non-Executive Director, Non-Executive Director, Non-Executive 5
Slide 14: Chairman's Address
For personal use only CHAIRMAN’S ADDRESS 6
Slide 15: Managing Director's Address
For personal use only MANAGING DIRECTOR’S ADDRESS 7
Slide 16: FY21 Results
FY21 RESULTS For personal use only • Further strengthening of the Balance Sheet which resulted in a Net cash position of $5.2m, a $17.3m improvement on the $12.1m net debt position in the prior year • Operating Cashflow of $31.9m • External sales of $352.8m, up 11% • Underlying EBITDA of $27.1m, up
Slide 17: Proforma MaxiPARTS Business
For personal use only PROFORMA MaxiPARTS BUSINESS 9
Slide 18: MaxiPARTS Proforma Income Statements – Key Financials
MaxiPARTS PROFORMA INCOME STATEMENTS – KEY FINANCIALS For personal use only $mil FY20 FY21 Revenue 127.0 133.5 Continued operating leverage benefits EBITDA (pre-corporate costs) 15.7 17.5 • 5.1% Revenue Growth Centralised functional/ support costs • 11.5% EBITDA Growth (5.0) (5.0) • 31.8% Proforma E
Slide 19: MaxiPARTS Revenue - Proforma
MaxiPARTS REVENUE - PROFORMA For personal use only 7% compound annual revenue growth FY16 – FY21 • Consistent track record of growth over extended period • FY20 impacted by lower Trailers activity and COVID, before FY21 uplift in parts revenue associated with Trailers recovery • Growth from existing
Slide 20: MaxiPARTS EBITDA
MaxiPARTS EBITDA 29% compound annual EBITDA growth FY16 – FY21 (pre- For personal use only corporate costs, before AASB 16 impacts) Key drivers of FY21 EBITDA increase (18%) over FY20: • 5% revenue increase, linked to Trailers recovery and higher external sales to other customers • Consistent year o
Slide 21: Strategy Update
For personal use only STRATEGY UPDATE 13
Slide 22: Strategy – Organic Initiatives
STRATEGY – ORGANIC INITIATIVES For personal use only Existing initiatives will continue to drive revenue growth, profit improvement and working capital management. The business continues to focus on these priorities with new initiatives in: Over last five years MXI has successfully executed its • Op
Slide 23: Strategy - Acquisitions
STRATEGY - ACQUISITIONS MaxiPARTS is well positioned to play an active role in consolidation of commercial vehicle aftermarket parts industry; For personal use only M&A a key component of our short-term growth strategy. Commercial vehicle parts market Enhances product range/geographies Clear post-ac
Slide 24: Outlook
For personal use only OUTLOOK 16
Slide 25: 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 17
Slide 26: Formal Business
For personal use only FORMAL BUSINESS 18
Slide 27: Questions
For personal use only QUESTIONS 19
Slide 28: Financial Statements and Reports
FINANCIAL STATEMENTS AND REPORTS For personal use only To receive and consider the financial report, the directors’ report and the auditors’ report for the Company and its controlled entities for the year ended 30 June 2021. 20
Slide 29: Adoption of the Remuneration Report
ADOPTION OF THE REMUNERATION REPORT For personal use only That the Company’s Remuneration Report for the year ended 30 June 2021 be adopted. Valid proxies have been received in respect of this resolution as follows: For Against Proxy’s discretion Abstain 12,533,634 1,121,232 133,569 43,931 90.9% 8.1
Slide 30: Re-election of Director, Greg Sedgwick
RE-ELECTION OF DIRECTOR, GREG SEDGWICK For personal use only That Gregory Leo Sedgwick, who retires in accordance with the Company’s Constitution and being eligible for election, is re-elected as a Director of the Company. Valid proxies have been received in respect of this resolution as follows: Fo
Slide 31: Re-election of Director, Gino Butera
RE-ELECTION OF DIRECTOR, GINO BUTERA For personal use only That Gino Butera, who retires in accordance with the Company’s Constitution and being eligible for election, is re- elected as a Director of the Company. Valid proxies have been received in respect of this resolution as follows: For Against
Slide 32: Grant of Performance Rights to the Managing Director & CEO
GRANT OF PERFORMANCE RIGHTS TO THE MANAGING DIRECTOR & CEO For personal use only For the purposes of Listing Rule 10.14, to approve the grant of performance rights to Peter Loimaranta, Managing Director and Chief Executive Officer, as described in the Explanatory Memorandum. Valid proxies have been
Slide 33: Update to Constitution
UPDATE TO CONSTITUTION For personal use only That the Constitution be amended as set out in the document tabled at the meeting and signed by the Chairman for identification, with effect from the close of the meeting. Valid proxies have been received in respect of this resolution as follows: For Agai
Slide 34: For personal use only
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