Ntaw Holdings Limited. · ASX:NTD
Ntaw — 1H2026 Earnings Presentation
19 slides from Ntaw's earnings presentation, Feb 26, 2026
Slide 1: Results presentation – Half-year ended 31 December 2025
Results presentation Half-year ended 31 December 2025
Slide 2: Managing Director's message on 1H2026 focus
1H2026 saw our focus shift from adjusting the expense base to driving growth in businesses with strong positioning, while also challenging other business units to find their growth path. Development of a strategic roadmap is underway to leverage existing core capabilities and create new offerings to
Slide 3: Overview
Overview • NTAW Holdings Limited (ASX: NTD) (‘NTD’ or the ‘Group’) continued the program started in 2H2025 with the implementation of substantial changes to reset the Group’s cost base, review the organisational structure, challenge the working capital required, and ensure clear accountabilities and
Slide 4: Financial metrics in 1H2026 reset
Financial metrics in 1H2026 reset Achieved • Revenue remained materially in line compared to 2H2025 (with the exclusion of Dunlop sales in Australia). • Statewide, Solid Plus and Dynamic Wheel Co. experienced steady growth, offset by Black Rubber’s decline due to stores closed in June 2025. • Altho
Slide 5: Financial metrics in 1H2026 reset (cont.)
Financial metrics in 1H2026 reset (cont.) Achieved • Expenses stabilised after the reset in 2H2025 as Australian Dunlop sales reduced. • Although EBITDA was disappointing, it reflects the stage – now completed – of the reset where the Group has dealt with several realignment projects to match the l
Slide 6: Progress on our FY2026 priorities
Progress on our FY2026 priorities Balance sheet flexibility Revenue and margin improvements • Inventory levels continued to reduce - down $14.5 million • The Group aims to expand revenue opportunities on the existing over 1H2026. Total reduction since December 2024 cost structure. is $44.1 million (
Slide 7: Progress on our FY2026 priorities (cont.)
Progress on our FY2026 priorities (cont.) Strengthen core supplier partnerships Cost base refinements continue • As Core Supplier Partnerships are agreed, a clear focus on • In February 2026, the Group finalised the consolidation of two joint activities to grow volumes will continue to be actioned.
Slide 8: 1H2026 financial results
1H2026 financial results 8
Slide 9: Statement of profit or loss
Statement of profit or loss $'000 1H2026 2H2025 1H2025 • Revenue decreased on pcp driven by the loss of $27 million in Sales revenue* 225,777 255,230 257,446 Dunlop sales (in Australia) and $9 million in Black Rubber due to Cost of goods sold* (157,461) (179,823) (182,034) store closures and loss of
Slide 10: Operating EBITDAI 1H2025 - 2H2025 - 1H2026
Operating EBITDAI* 1H2025 - 2H2025 - 1H2026 • Reduction in revenue was expected with the cessation of Dunlop in Australia. • Improvement in gross margin in 1H2026 was pleasing and indicates the projects worked on are starting flow in the P&L. • Further reduction in headcount and employee costs were
Slide 11: Balance sheet
Balance sheet $'000 Dec-25 June-25 Dec-24 Current assets Cash and cash equivalents 23,070 46,993 25,039 Receivables 59,622 64,422 68,493 Inventory 113,156 127,732 157,235 Other current assets 6,294 3,378 8,807 Current tax asset/(liability) 836 1,036 1,088 202,978 243,561 260,662 • Successful invento
Slide 12: Cash flow summary
Cash flow summary $'000 1H2026 2H2025 1H2025 Net receipts from customers & payments to suppliers and employees 5,067 41,475 (4,510) Net interest and other finance costs (3,059) (3,977) (3,390) Income taxes paid (595) (289) (1,592) Net cash (used in)/from operating activities 1,413 37,209 (9,492) Net
Slide 13: Outlook
Outlook HOLDINGS LIMITED
Slide 14: Outlook
Outlook During FY2025, the Group focused on adjusting the expense base to better align to the reduced sales volumes post-Dunlop (in Australia). This also allowed a more disciplined approach to managing costs and created higher accountabilities. Strategic Supplier Relationships were strengthened and
Slide 15: Outlook (cont.) – Expenses
Outlook (cont.) Expenses • Property consolidation and cost reductions remain key focus areas across both Australia and New Zealand. Material progress has already been achieved, including consolidation in Adelaide and subleasing of space in Sydney. Third-party logistics and subleasing of excess space
Slide 16: Outlook (cont.) – Working capital, debt & key project
Outlook (cont.) Working capital, debt & key project • No material changes are expected in working capital management in the near term. • Accounts payable and accounts receivable metrics are currently within acceptable ranges and require no significant intervention. Continued focus on cash discipline
Slide 17: Important information and disclaimer
Important information and disclaimer This presentation may contain certain unaudited financial information in relation to NTAW Holdings Limited (‘NTD’ or the ‘Group’). As such, it has not been subject to an audit or an audit process or otherwise independently verified. This presentation may contain
Slide 18: Appendix A
Appendix A NTAW Holdings Limited is the largest independent tyre and wheel importer in Australia and New Zealand. The Group has about 750 employees serving more than 3,500 B2B customers, going further to help them win in a highly competitive industry. The Group is engaged in brand building, logistic
Slide 19: Appendix B – Focus on winnable segments of a $5.5 billion industry
Appendix B Focus on winnable segments of a $5.5 billion industry 19