Slide 1: 2004/05 1st Half Results Presentation
Slide 2: First Half Highlights
First Half Highlights *® Stores now trading across Australia and New Zealand ™ 21 stores opened during the half m 204 stores trading by Christmas 2004 *» 29 Stores opened in New Zealand in 53 weeks m@ 29 stores trading by Christmas 2004 * 6 stores ~- November 2003 = 29 stores - December 2004 ™ New Z
Slide 3: First Half Highlights
First Half Highlights ™® Marketing and Merchandise Planning initiatives successful @ Merchandise teams restructured to align with store quadrants m™ = Inventory function linked to Business Manager m = =Improved Business and Supplier contact General Manager - Merchandising O Merchandise Business Mana
Slide 4: Merchandise Management Structures
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Slide 5: First Half Highlights
First Half Highlights 4 ™ Marketing and Merchandise Planning initiatives successful m= Launch of new TV campaign m= Increase in catalogue pages and distribution m= = Christmas and New Year trading period (LFL sales up over 10%) ™ Supplier Relations LOO m™ = Collaborative approach to improving supply
Slide 6: First Half Highlights
First Half Highlights @ SALES - strong like for like growth driven by successful promotions 27 weeks to 1% January 26 weeks to 25" December 2005 2004 Total Retail Growth 23.8% 19.0% LFL Growth 5.1% 1.1% ™ 27 weeks to 1% January (03/04 and 04/05 includes comparative trading periods including both Box
Slide 7: SCA Locations
SCA Locations at 18 February 2005 Stoke, NZ 200* store LOO : Srisbane ‘> Newcastle Sydney Wellington hristchurch Ashmore, QLD Kelston, NZ Ulladulla, NSW to open 19 Feb 05
Slide 8: The 1st Half Results 2004/05
The 1** Half Results 2004/05
Slide 9: Trading Statement
Trading Statement 03/04 as reported 03/04 excl Boxing Day $m % of $m % of Sales Sales Sales 182.9 Gross Profit . 70.5 38.6 Op Ex . (55.0) 30.1 EBITDA . 15.5 8.5 EBITA 12.3 67 AOS AAA EBIT . 10.9 6.0 NPAT . ; 6.3 (comparative) NPAT Supe {reported} aes The trading results have been adjusted to exclude
Slide 10: Abnormal Items
LOO Abnormal Items Pre Tax Impact Inventory valuation methodology Share issues costs Total Inventory valuation methodology: m™ Benefit associated with a change to the methodology for the calculation of inventory valuation. Supply chain costs incurred during the stock holding period are now capitalis
Slide 11: Sales
Sales Sales 26 wks to 25 / (27) Dec Australia New Zealand Total ASA » Australia: M@ 2 additional new stores opened ahead of prospectus forecast for the half m@ LFL performance tracking 0.6% pts ahead of prospectus forecast for the year » NZ: @ 7 additional new stores opened ahead of prospectus forec
Slide 12: Cash Flow
LOO 6 months to December EBITDA Tax Paid Working capital Management loans Other Assets Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash Cash Flow Improvement through negotiated increase in creditor days Discharge of loa
Slide 13: Net Debt
Net Debt Closing net cash Closing gross debt Closing net debt Pro-forma Adjustments for Pre IPO transactions: Management loans Liability arising on settlement of Tearn Member share loans paid in full in July 04 Pre IPO dividends Liability reclassified as debt at June 04 paid in full in August 04 AOS
Slide 14: Balance Sheet
Inventory Trade Payables Net Inventory investment Receivables Other Creditors Working Capital Fixed Assets Intangibles Other Assets Provisions & Other Liabilities Capital Employed Pro-forma net Debt Net Assets Balance Sheet Includes $4.5 valuation adjustment — $ 525k average inventory per store — pr
Slide 15: Key Ratios
LOO Key Ratios Earnings per Share - pre amortisation and abnormals Full year prospectus forecast ~ 17.2c - post amortisation and abnormals Full year prospectus forecast ~ 14.4c Fixed Charge Cover EBITDAR / (Interest + Rent) Net Debt : Capital - headline - adjusted Leases capitalised at 6x Annualised
Slide 16: ty S . S N
ty S . S N
Slide 17: Looking Forward
Looking Forward ™» New Stores m= On track to achieve 210 stores trading by 2 July 2005 m 5 stores ahead of prospectus forecasts m= 205" store opens this weekend in Ulladulla — 2 further stores will open by end of March ™ Camp Mart Acquisition m= = Transaction completed 18! January 2005 m= All stores
Slide 18: Camp Mart Acquisition (contd)
™» Camp Mart Acquisition (contd) ™ High Profile Sponsorship Arrangements Established Looking Forward Rollout will commence by 15 quarter 05/06 Acquisition expected to be earnings neutral in 04/05 but contribute circa 1.0c per share in 05/06 Naming right sponsor for the Bathurst 1000 Sponsor of the 2
Slide 19: Looking Forward (cont)
Looking Forward (cont) @ Anticipate LFL growth in the 2°4 half in line with prospectus forecast of 4.5% @ SCA sales expected to be slightly ahead of prospectus forecast augmented by circa $6m sales contribution from Camp Mart @ Supply Chain efficiencies expected to continue to drive margin improveme
Slide 20: Super Cheap Auto Group Limited
SUPER CHEAP AUTO GROUP LIMITED se ne oy a Os ym 4 py i, Ve Oi me SEH HDHMHOOV GROUP SERVICES Wilt ye >, EL loa