Ama Group Limited · ASX:AMA

Ama — Investor Presentation (February 2024)

26 slides from Ama's investor presentation, Feb 23, 2024

  1. Slide 1: 2024 Interim Results Presentation

    2024 INTERIM RESULTS PRESENTATION For the Half Year Ended 31 December 2023 23 February 2024

  2. Slide 2: Webcast

    Webcast AMA Group Limited 2024 Half Year Results Friday, 23 February 2024 11:00am, AEDT Register at: https://event.choruscall.com/mediaframe/webcast.html?webcastid=T39qKgUu 2

  3. Slide 3: Contents

    Contents Overview Slide 4 Group Financials Slide 13 Outlook Slide 19 Other Information Slide 22 3

  4. Slide 4: Overview

    Overview AMA GROUP

  5. Slide 5: 1H24 Overview

    1H24 Overview Positive momentum and improving business performance Revenue EBITDA $469m $19m  $16.1 million increase in normalised, pre-AASB 16 EBITDA with improved margins ‐ Price discipline, with uplifts across portfolio, notably renegotiated Capital SMART MRSA1 ‐ Business has stabilised, product

  6. Slide 6: People Activities

    People Activities Turnover continues to reduce as we invest in team members  Keeping People Safe and Well ‐ Take the LEAD HSE program ‐ LTIFR at 2.72, continues improvement from 3.04 in the pcp ‐ Mental Health First Aid Training made available to leaders  Attracting People ‐ Headcount increased to

  7. Slide 7: Vehicle Collision Repairs

    Vehicle Collision Repairs Performance ahead of expectations, with opportunity to further improve Sites1 Repairs  Substantial $20.4 million pre-AASB 16 EBITDA improvement from 1H23 130 121k  Reduction in repair volume from 1H23 largely reflective of network consolidation completed in FY23 and conti

  8. Slide 8: Capital SMART strong results on successful change program

    Strong results on the back of a successful change program  Capital SMART delivered operating results ahead of expectations Non-OEM1 parts usage ‐ Project SHIFT ahead of plan and largely complete ‐ Positive team member engagement has been critical to success of this change 35 program 34 33 ‐ Volume

  9. Slide 9: Solid portfolio performance but work remains to rebuild

    Solid portfolio performance but work remains to rebuild  Overall portfolio is performing well - focus is on bottom-third performing sites ‐ AMA Collision EBITDA margins have remained compressed ‐ AMA Collision most negatively impacted by cash constraints in 1H24 prior to equity raise ‐ Network oper

  10. Slide 10: Tech Right planning well progressed

    Tech Right planning well progressed  Most new vehicles have Advanced Driver Assistance Systems (ADAS)  ~20% vehicles in Australian carparc have ADAS1  Currently ~10-15% of vehicles in accident repair require calibration – expected to grow to 30%+ as the carparc changes over time2 ‐ Nationally, AM

  11. Slide 11: Heavy Vehicle Repairs

    - Heavy Vehicle Repairs Profitable growth continues, with significant further runway Sites Repairs  Revenue up 17.4% pcp 8 4k ‐ Strong forward bookings and active jobs on site 1H23 9 1H23 4k  Pre-AASB 16 EBITDA grew 33.9% pcp  Price increases from 1 July 2023  Wales Adelaide established and oper

  12. Slide 12: Core new parts growth programs progressing well

    Core new parts growth programs progressing well Sites Daily Sales  Business has been reset over past two years and is now delivering strong core 7 $275k growth which is expected to result in overall business profitability in 2H24  Strong underlying sales growth 1H23 7 1H23 $209k ‐ Parallel import

  13. Slide 13: Group Financials

    Group Finan AMA GROUP

  14. Slide 14: Summary Financial Performance

    Summary Financial Performance Summary financial performance ($M) 1H24 1H23 Change  Total Group revenue and other income up $43.1 million Revenue and other income 469.3 426.2 43.1 Operating expenses (inc. rent, normalisations) (450.3) (423.3) (27.0) to $469.3 million (1H23: $426.2 million) Normalise

  15. Slide 15: Summary Financial Position

    Summary Financial Position Summary financial position ($M) Dec-23 Jun-23 Change  31 December cash position of $34.3 million Cash and cash equivalents 34.3 28.9 5.4 Other current assets 116.1 126.1 (10.0)  Net $51.9 million equity raise proceeds Intangible assets 317.6 325.8 (8.2) ‐ $35.0 million u

  16. Slide 16: Net Debt and Funding

    Net Debt and Funding Net Debt ($M) 31-Dec-23 30-Jun-23 Change Financial liabilities - drawn cash facilities 130.0 165.0 (35.0)  Repayment of $35.0 million senior debt principal in PIK interest capitalised 2.3 1.0 1.3 December 2023 Cash and cash equivalents (34.3) (28.9) (5.4) ‐ Outstanding senior d

  17. Slide 17: Cash Flows

    Cash Flows Statement of Cash Flows ($M) 1H24 1H23 Change  1H24 Operating Cash outflow of $4.9 million (once all Receipts from customers, inclusive of GST 527.0 486.6 40.4 Payments to suppliers and employees, inc. of GST (494.6) (487.9) (6.7) lease payments included) substantially improved from Paym

  18. Slide 18: Corporate

    Corporate Summary financial performance ($M) 1H24 1H23 Change  Increase in operating expenses reflects higher legal Revenue 0.0 0.0 0.0 Operating expenses (including rent) (14.4) (13.0) (1.4) costs and international recruitment costs EBITDA (pre- AASB 16) (14.4) (13.0) (1.4)  Normalisations reflec

  19. Slide 19: Outlook

    Outlook AMA GROUP

  20. Slide 20: FY24 Outlook

    FY24 Outlook Continued positive turnaround momentum  Continuing to care for our growing team ‐ Keeping team members safe ‐ Retaining and developing team members who we have and attracting new team members ‐ Enhancing talent to build further momentum  A heightened focus on exceptional customer expe

  21. Slide 21: AMA Group

    AMA GROUP

  22. Slide 22: Other Information

    Other Inform AMA GROUP

  23. Slide 23: Group Snapshot

    Group Snapshot ~3,370 ~220k Team members Recycled & new parts supplied per year ~260k ~6.3k Vehicles Vehicles repaired reclaimed per year per year 130 8 Vehicle Collision Wales - Heavy Vehicle Repairs sites Repairs sites 7 1 Supply Support locations office Site count and team members as at 31 Decemb

  24. Slide 24: Segment Summary Results

    Segment Summary Results Vehicle Collision Repairs Wales ACM Parts Corporate/Eliminations Total Group Summary financial performance ($M) 1H24 1H23 Change 1H24 1H23 Change 1H24 1H23 Change 1H24 1H23 Change 1H24 1H23 Change Revenue and other income 413.8 372.2 41.6 37.3 31.7 5.6 40.6 40.6 0.0 (22.4) (1

  25. Slide 25: Quarterly Key Metrics

    Quarterly Key Metrics Key Metrics - Quarter on Quarter Units 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 All Collision Repair Repair volume '000 69.5 61.6 64.7 64.7 66.7 58.0 Average repair price $ 2,914 3,123 3,176 3,342 3,513 3,736 Revenue $m 202.5 192.4 205.5 216.2 234.3 216.7 ACM Parts Average daily parts sal

  26. Slide 26: AMA Group Limited

    AMA Group Limited ABN 50 113 883 560 Level 13, 484 St Kilda Road Melbourne, VIC 3004 amagroupltd.com

AMA Group — Investor Presentation (February 2024) on 6ix