Maxiparts Limited · ASX:MXI
Maxiparts — H1 FY22 Earnings Presentation
18 slides from Maxiparts's earnings presentation, Feb 25, 2022
Slide 1: H1 FY22 Investor Presentation
H1 FY22 Investor Presentation February 2022
Slide 2: 1H FY21 Highlights / Company Snapshot
1H FY21 Highlights / Company Snapshot • 6% increase in underlying MaxiPARTS Sales versus pcp • 11% growth in underlying MaxiPARTS segment profit versus pcp • Completed sale of Trailer Business in September 2021 • Special Dividend of 62.5 cents per share paid in December 2021 • Launched new e-commerc
Slide 3: Financial Overview
FINANCIAL OVERVIEW
Slide 4: 1H FY22 Financial Overview
1H FY22 Financial Overview Commentary A$M HY22 HY21 Change Change % 1 Revenue of $72.6m increased by 6% from pcp, demonstrating the strength in the underlying Total Revenue 1 2 72.6 68.6 4.0 5.8% market and MaxiPARTS strong value proposition and adaptability and knowledge of staff to manage External
Slide 5: Balance Sheet
Balance Sheet Commentary $M HY22 FY21 Assets 1 Receivables and Payables for the FY21 comparative period include the Trade Debtors and Payables associated with the Trailer Solutions Cash 6.6 22.4 business, that the group has subsequently collected / paid following Receivables 1 2 21.6 33.1 the divest
Slide 6: Cashflow
Cashflow Commentary $M HY22 HY21 Receipts from customers 148.4 222.2 1 Operating cash outflow for the period of ($13.4m) included ($11.7m) outflow from the discontinued operations that Payments to suppliers and employees (161.7) (199.9) included: ($3.9m) of exit, separation, cyber fraud and litigati
Slide 7: Update on Acquisition of Truckzone Group
UPDATE ON ACQUISITION OF TRUCKZONE GROUP 7
Slide 8: Update on Acquisition of Truckzone Group
Update on Acquisition of Truckzone Group Total of 27 MaxiPARTS owned sites Overview of Acquisition post acquisition Timing • Completed on 21 February 2022 • Estimated to be $18 million subject to normal Purchase price & working capital adjustments Payment • $10 million paid on completion Milestones
Slide 9: Strategic Rationale
Strategic Rationale • Positions MaxiPARTS as one of the largest independent multi-site parts only businesses in Australia with a strong geographic footprint Immediate • Significantly expands existing geographic footprint and provides further scale in existing markets geographic expansion ‒ Additiona
Slide 10: Expansion of Core Product Range
Expansion of Core Product Range Product Mix Diversification Product Range Enhancement • Combination provides product diversification with Truckzone focus skewed more towards trucks than trailers • Mature Japanese Parts program with overseas supply chain and product catalogue support Truckzone produc
Slide 11: Accretive Opportunity with Identified Synergies
Accretive Opportunity with Identified Synergies Expected benefits Cost synergies of $2.5m1 Further upside through ✓ Increased scale benefits revenue synergies ✓ Decreased costs ✓ Streamlined operations ✓ Strong revenue growth ✓ Access to higher margin products The acquisition is expected to deliver
Slide 12: Outlook
OUTLOOK OUTLOOK
Slide 13: Outlook
OUTLOOK • The Group remains cautious about the ongoing impact of the COVID-19 pandemic. In particular, staffing shortages linked to isolation increased in December 2021 and January 2022. To date the Group has been able to continue operations with no sites having closed and expects that staffing leve
Slide 14: Appendix
APPENDIX APPENDIX
Slide 15: Appendix
Appendix Bridge of H1 FY22 Segment Profit to Continued Operations and Profit / (Loss for the period) $M HY22 HY21 Change 1 MaxiPARTS segment profit – refer to Note 2 Segment information of the 1H FY22 MaxiPARTS Segment profit before Corporate Cost 7.3 6.7 0.5 Financial Statements Allocated Corporate
Slide 16: Important Information
IMPORTANT IMPORTANT INFORMATION INFORMATION
Slide 17: Important Information
IMPORTANT INFORMATION This document should be read in conjunction with the periodic and continuous disclosure announcements of MaxiPARTS Limited (MaxiPARTS) that have been lodged with the ASX, in particular the financial report for the full-year ended 30 June 2021 (available at www.asx.com.au). This
Slide 18: Slide 18