Slide 1: 1H25 Results Presentation
1H25 Results Presentation 26 February 2025
Slide 2: Acknowledgement of Country
Acknowledgement of Country Bapcor would like to acknowledge the Traditional Custodians of country throughout Australia. We pay our respect to elders past and present. We recognise the continued connection of all First Nations people with country across Australia, in particular, on all the land where
Slide 3: Agenda
Agenda Content 1. 1H25 Group Highlights 2. Segment Summaries 3. 1H25 Financial Summary 4. 1H25 Summary and Outlook Appendices 3
Slide 4: Asia Pacific's leading provider of vehicle parts, accessories, equipment, service and solutions
Asia Pacific’s leading provider of vehicle parts, accessories, equipment, $988M Top 3 937 service and solutions 1 1H25 REVENUE BRAND ACROSS NATIONAL STORE ALL SEGMENTS FOOTPRINT Revenue by segment 8% 19% 38% Trade Specialist Wholesale Retail Australia's leading Industry leaders in Premium parts and
Slide 5: 1H25 Group Highlights
1H25 Group Highlights Angus McKay Executive Chair and CEO 5
Slide 6: Executive summary
Executive summary Strong execution in Trade and delivery of cost saving initiatives underpins result Revenue – Gross Margin – Pro-forma Pro-forma • Group revenue was up 0.3% vs PCP $987.8M 46.9% • Pro-forma NPAT of $45.5M down 15.2% vs PCP 0.3% vs 1H24 10 bps vs 1H24 • Trade revenue up 1.9% & EBITDA
Slide 7: 1H25 key management actions
1H25 key management actions Strong execution against strategic priorities STRATEGIC PRIORITY PROGRESS TO DATE Deliver $20M-$30M savings in FY25 Expect to deliver planned savings at 1 upper end of guidance CVG & AEG operations fully integrated, site Specialist Networks simplification and 2 consolidat
Slide 8: Initial observations from new CEO
Initial observations from new CEO Strong core businesses, growth through operational model simplification and strengthening execution KEY OBSERVATIONS KEY FUTURE FOCUS AREAS One of the largest ranges of parts with an Simplification of operational model to drive 1 unparalleled distribution network ef
Slide 9: Segment Summaries
Segment Summaries Angus McKay Executive Chair and CEO 9
Slide 10: 1H25 segment overview
1H25 segment overview 1 Revenue 2 EBITDA 2 Revenue by type 8% 9% 9% 38% 10% 15% 19% 45% Non discretionary - Trade Trade & Wholesale Specialist Wholesale Non discretionary - Retail Retail Discretionary - Retail New Zealand 31% 81% 35% Revenue 2 1H25 V 1H24 EBITDA 2 1H25 V 1H24 Segment ($M) 1H25 2H24
Slide 11: Trade
Trade › Maintained market share in Parts and Tools & Equipment Australia’s leading distributor of vehicle parts and equipment categories, with Trade revenue increased 1.9%: solutions for the Trade › Parts revenue up 1.4%, driven by growth in sales to national and state service chains › Tools & Equip
Slide 12: Specialist Wholesale
Specialist Wholesale › Revenue increased 0.8%: Truck, electrical and specialist wholesale market leader, › Specialist Networks revenue increased by 1.8% with aggregator and importer for Bapcor growth in Auto Electrical Group (AEG) and Commercial Vehicle Group (CVG). The focus for CVG has been ration
Slide 13: Retail
Retail › Revenue declined 1.1%: › Impacted by difficult retail environment in the Full-offer retailer and service centre providing quality product discretionary category with both sales and margins declining ranges and fitment experiences › Lower sales in discretionary categories (sound and vision,
Slide 14: New Zealand
New Zealand Integrated trade and wholesale group providing leading parts and equipment solutions across New Zealand › Revenue was flat in NZD and declined 1.8% in AUD › Recessionary environment impacting consumer $M 1H25 1H24 spending and business confidence Revenue 87.1 88.7 -1.8% › Gross margin gr
Slide 15: Supply chain update
Supply chain update › On track to reduce ~20% of smaller warehouses Progress on Distribution Centre consolidations › Established DCW (15,000m2 site in Perth), DCN (8,000m2 Number of sites 1 site in Sydney) and DCS (5,000m2 in Adelaide) to service our customers quicker, eliminate duplicate inventory
Slide 16: 1H25 Financial Summary
1H25 Financial Summary George Saoud Chief Financial Officer 16
Slide 17: Income Statement
Income Statement Key points $M1 1H25 1H24 2 % change Revenue 987.8 984.8 0.3% Cost of Goods Sold (COGS) (524.6) (523.9) 0.1% › Pro-forma NPAT of $45.5M lower than PCP of $53.7M due to the Gross Margin 463.2 460.8 0.5% combination of relatively flat revenue and increases in CODB Cost of Doing Busines
Slide 18: Cash Flow
Cash Flow Key points $M1 1H25 1H24 EBITDA – Pro Forma 132.5 142.7 Operating Cash Flow 143.7 89.0 › Improvement in operating cash flow from $89.0M in 1H24 to Cash conversion % 108.5% 62.4% $143.7M largely relates to focus on receivables collection and Interest (11.0) (9.3) optimising international su
Slide 19: Balance Sheet
Balance Sheet Key points $M 31 Dec 24 30 Jun 24 31 Dec 23 Cash 89.5 71.6 88.0 Trade and other receivables 190.8 198.6 223.4 › Working Capital improvement due to continued focus on Inventories 578.3 541.2 563.6 receivables collections, improvement in trade and other payables Income tax receivable & O
Slide 20: Net Debt - including debt facilities and maturity profile
Net Debt - including debt facilities and maturity profile $304.5M >$290M ~3.2 years 1.65x NET BANK DEBT UNDRAWN COMMITTED AVERAGE REMAINING NET LEVERAGE RATIO FACILITIES TENOR › Net debt decreased $32.6m (9.7%) from June 2024 driven by DEBT MATURITY PROFILE ($’M) improvement in working capital and s
Slide 21: 1H25 Summary and Outlook
1H25 Summary and Outlook Angus McKay Executive Chair and CEO 21
Slide 22: Summary & outlook
Summary & outlook Strong earnings growth in Trade with cost out program delivering results Summary › Trade had a strong 1H25 performance with Revenue and EBITDA growth of 1.9% and 12.3% respectively › Continued focus on simplifying the business is key to improving long-term margins › Disciplined cap
Slide 23: Appendices
Appendices axa, TOURING & ACCESSORIES =
Slide 24: Statutory to pro-forma reconciliation
Statutory to pro-forma reconciliation 1H 25 Consolidated 1H 24 Consolidated $M Statutory Significant Items 1 Pro-Forma $M Statutory Significant Items 2 Pro-Forma Revenue 1,012.4 (24.6) 987.8 Revenue 1,017.5 (32.7) 984.8 EBITDA 127.0 5.5 132.5 EBITDA 133.5 9.2 142.7 D&A (50.5) 1.3 (49.2) D&A (48.9) 0
Slide 25: Leverage calculation reconciliation
Leverage calculation reconciliation › The following tables reconcile statutory to pro forma net debt, statutory EBITDA to pre-AASB16 EBITDA and the Net Leverage calculation Consolidated Consolidated $M 31 Dec 24 30 Jun 24 $M (last 12 months) 1H 25 1H 24 Cash and cash equivalents 89.5 71.6 Statutory
Slide 26: Disclaimer
Disclaimer The material in this presentation has been prepared by Bapcor Limited (“Bapcor”) ABN 80 153 199 912 and is general background information about Bapcor’s activities current at the date of this presentation. The information is given in summary form and does not purport to be complete. Infor
Slide 27: Asia Pacific's leading provider of vehicle parts, accessories, equipment, service and solutions
Asia Pacific’s leading provider of vehicle parts, accessories, equipment, service and solutions