Slide 1: Annual General Meeting CEO Presentation
ANNUAL GENERAL MEETING CEO Presentation 29TH October 2018
Slide 2: 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 3: Aftermarket Supply Chain
Aftermarket Supply Chain 3 “Australasia’s leading provider of aftermarket parts, accessories, equipment and services”
Slide 4: Over 800 locations across Australia & NZ
Over 800 locations across Australia & NZ Trade Specialist Wholesale Retail & Service THAI CAR PARC • No. of vehicles 16m • New cars sold p.a. 850k • Ave. age of vehicles 10 yrs • Ave. annual growth c. 5% p.a. AUS CAR PARC NZ CAR PARC • No. of vehicles 19m • No. of vehicles 5m • New cars sold p.a. 1.
Slide 5: Business Segment Contribution to Results
Business Segment Contribution to Results Total Auto Revenue Total Auto EBITDA FY2018 FY2017 FY2018 FY2017 24% 22% 28% 26% $1.2B 53% $1.0B 53% $150M $117M 58% 57% 18% 22% 19% 21% TRADE FOCUSSED IN A RESILIENT INDUSTRY 5 “Australasia’s leading provider of aftermarket parts, accessories, equipment and
Slide 6: FY2018 Headline Results
FY2018 Headline Results 22% 32% 27% REVENUE NPAT EPS Up 22% to $1,237M Up 32% to $86.5M Up 27% to 30.99 cps (continuing ops) (proforma continuing ops) (proforma continuing ops) Up 48% to $94.7M Up 43% to 33.90 cps Statutory Statutory 6 “Australasia’s leading provider of aftermarket parts, accessorie
Slide 7: FY2018 Operational Highlights
FY2018 Operational Highlights ▪ Delivered result in line with guidance – have done each year since IPO in 2014 ▪ Every business segment showing improvement on prior year ▪ Trade continues to perform extremely well, as does Specialist Wholesale and Bapcor New Zealand ▪ Retail & Service making good pr
Slide 8: FY2018 Financial Highlights
FY2018 Financial Highlights FY18 FY17 Variance Continuing Operations Revenue $’M 1,236.7 1,013.6 22.0% Gross Margin % 46.0% 45.7% 0.3 pp EBITDA – proforma $’M 150.0 117.4 27.7% EBITDA % 12.1% 11.6% 0.5 pp NPAT – proforma $’M 86.5 65.8 31.6% EPS – proforma cps 30.99 24.40 27.0% Total Bapcor (includin
Slide 9: Business Segment Results – continuing operations
Business Segment Results – continuing operations EBITDA % Revenue EBITDA Revenue $’M Proforma FY18 FY17 % Change FY18 FY17 % Change Change Trade 501.6 465.1 7.8% 72.1 63.3 13.9% +0.8 pp Bapcor NZ 177.9 87.1 104.1% 22.7 9.3 144.3% +2.1 pp Specialist Wholesale 364.3 272.3 33.8% 38.6 28.0 37.7% +0.3 pp
Slide 10: Summary of Key Performance Indicators
Summary of Key Performance Indicators Revenue * EPS (cps) * 1,236.7 31.0 1,013.6 24.4 685.6 17.9 13.6 375.3 FY2015 FY2016 FY2017 FY2018 FY2015 FY2016 FY2017 FY2018 NPAT * Dividends per share Interim Final 8.5 86.5 7.5 6.0 65.8 4.7 43.6 7.0 23.1 5.0 5.5 4.0 FY2015 FY2016 FY2017 FY2018 FY2015 FY2016 F
Slide 11: Comparative Total Return to Shareholders
Comparative Total Return to Shareholders - over last four years Source: KPMG 11 ”Australasia’s leading provider of aftermarket parts, accessories, equipment and services”
Slide 12: Financial Position @ 30 June 2018
Financial Position @ 30 June 2018 STRONG FINANCIAL POSITION • Solid cash conversion 98.9% • Net cash generated before acquisitions, divestments, dividends $57m • Net Debt $290m • Leverage Ratio < 2 times • TRS in NZ divested 1 July 2018 for $20m 12 ”Australasia’s leading provider of aftermarket part
Slide 13: Bapcor 5 Year Strategic Targets
Bapcor 5 Year Strategic Targets 13 “Australasia’s leading provider of aftermarket parts, accessories, equipment and services”
Slide 14: Growth Strategy
Growth Strategy ▪ All current business segments; ▪ Grow sales ▪ Organic ▪ Store Footprint Expansion ▪ Margin ▪ Procurement / Buying ▪ Pricing Management ▪ Own Brand ▪ Intercompany ▪ Operating Efficiencies ▪ Strategic Acquisitions / Expansion 14 “Australasia’s leading provider of aftermarket parts, a
Slide 15: Strategy
Strategy ▪ Consistent strategy with specific, clear, measurable targets. ▪ No changes to direction. ▪ We know what we do best and stick with it. 15 “Australasia’s leading provider of aftermarket parts, accessories, equipment and services”
Slide 16: Trading Update
Trading Update ▪ TRS, a NZ tyre & wheel specialist business, was divested in July 2018 for NZ$20M ▪ First store in Asia opened – formal grand opening was held 10 August 2018 ▪ Second store opened 6th October ▪ FY19 YTD all business segments tracking to expectations ▪ FY19 expect continued revenue &
Slide 17: Questions
Questions 17 “Australasia’s leading provider of aftermarket parts, accessories, equipment and services”