RESULTS PRESENTATION. For the six months ended 30 November February 2015

Transcription

1 RESULTS PRESENTATION For the six months ended 30 November February 2015

2 Presentation overview Group overview and financial highlights Corporate actions Financial performance Prospects 2

3 Group overview

4 Group overview Specialist logistics service provider Individual thinking, collective success 4

5 Group overview Specialised Logistics VDS 100% CVDS 100% United Bulk 74% OneLogix Linehaul 75% Madison 51% OneLogix Projex 90% Cargo Solutions 69.5% Other Logistics Services Atlas % DriveRisk 49% QSA 85% S O L D Retail 5

6 The OneLogix Way Well established niche logistics provider Footprint across South Africa and neighbouring countries Strong market position Customer service focused / good staff relations Cash generative Company structure (empowering, entrepreneurial) Structured to assimilate acquisitions Management capabilities Management shareholding 6

7 Corporate Actions

8 Interim period activity Operations Integrated acquisitions into the group Focus on organic growth Improve infrastructure Umlaas Road completed On time Within budget Atlas 360 new premises Fleet replacement and expansion programmes 8

9 Umlaas Road - before 9

10 Umlaas Road - current 10

11 Umlaas Road - current 11

12 Atlas 360 new premises 12

13 Interim period activity Acquisition Andre Niemand Cargo Solutions 13

14 Interim period activity Acquire minority shareholding stakes CVDS OneLogix Projex United Bulk DriveRisk 14

15 Interim period activity East Africa Tanzania Kenya 15

16 Tanzania / Zambia border 16

17 Post interim period activity Acquisition Jackson and Buffelshoek 17

18 Post interim period activity Sale of company PostNet New BEE partners Kagiso Capital Staff and management share participation schemes 18

19 Financial Highlights

20 Financial highlights Revenue (from continuing operations) 9% to R703 million Trading profit (from continuing operations) 13% to R68.2 million Core HEPS (cps) 12% to 20.8 HEPS 14% to 20 cps Net cash (generated from operating activities) 11% to R70.1 million Interim dividend declared 8 cps Umlaas Road vehicle storage facility in KZN completed Period of consolidation and preparation for the next phase of growth 20

21 Period under review Difficult trading conditions Margin performance Focus on Specialised Logistics segment Declaration of interim dividend 21

22 Ratios Unaudited Nov 2014 Unaudited Nov 2013 Return on equity (ROE) (%) Headline return on equity (%) Core headline return on equity (%) Gearing ratio (excl cash) (%) Interest cover (times)

23 Rm Segmental contribution from operations Revenue Specialised Logistics Other (Logistics Services) Total 23

24 Financial Performance

25 Income statement Continuing operations R m Unaudited Nov 2014 Unaudited Nov 2013 Change (%) Audited May 2014 Revenue Trading profit Trading profit margin (%) Profit before taxation Profit for the period from continuing operations Profit for the period from discontinued operations Profit for the period

26 Income statement - continuing operations Revenue (Rm) Trading profit (Rm) and trading margin (%) Interim period Interim period Margin 26

27 HEPS 25 Interim period HEPS Core HEPS 27

28 Cash flows from operations R m Cash Flow Trading Profit (from continuing operations) 28

29 Cash utilisation Declared interim dividend of 8 cps Payable in March 2015 Additional investment in subsidiaries and associate of R20m Umlaas Road development Funded R45m from internal cash resources Capex Fleet Replacement Expansion Property Development IT Other Total R83.0m R14.2m R68.8m R125.7m R2.5m R2.2m R213.4m 29

30 Statement of financial position - assets R m Assets Unaudited Nov 2014 Unaudited Nov 2013 Change (%) Audited May 2014 Non-current assets Current assets Total assets Equity Liabilities Non-current liabilities Current liabilities Total equity and liabilities NAV per share (cents) NTAV per share (cents)

31 Segmental breakdown Revenue Trading Profit 8% 4% 92% 96% Specialised Logistics Other Specialised Logistics Other 31

32 R m % R m Specialised Logistics Constituents: Vehicle Delivery Services Commercial Vehicle Delivery Services OneLogix Projex OneLogix Projex Cargo Solutions Madison Onelogix Linehaul United Bulk Revenue Trading Profit * % % 10.2% 10.0% 9.6% 9.0% 8.0% * After allocation of pro-rata corporate costs 32

33 Logistics supply chain Strategic positioning Strive to strategically interact through the entire supply chain 1 2 Strategic Supply chain design and optimisation Opportunity 3 Tactical Advanced planning and scheduling Operational Execution VDS CVDS OLP Madison OLH UBulk OPCS 33

34 New Products Existing OneLogix growth Markets Existing Market penetration New Market development Product development Diversification 34

35 VDS 35

36 VDS - customers 36

37 VDS fleet information Age Number % of total Trucks 0 2 yrs yrs > 4 yrs Total Type Number % of total Trailers 3-4 car carriers car carriers car carriers car carriers Total

38 VDS Storage 38

39 CVDS 39

40 CVDS - customers 40

41 OneLogix Projex 41

42 OneLogix Projex - customers 42

43 OneLogix Projex - fleet Trailers No Dolly 2 Flatdeck 19 Lowbed 7 Box 1 Skeleton 7 Interlink 8 Stepdeck 22 Extendable 6 Total 72 Trucks No % 0-2 years years > 4 years Total

44 United Bulk 44

45 United Bulk fleet information Age Trucks % of total 0 2 yrs yrs > 4 yrs Total Trailer Type No % of total Gas Acid 10 5 Liquid Dry bulk 6 3 Flatdecks 11 5 Total

46 Madison 46

47 Madison fleet information Fleet < 4 yrs > 4 yrs Trucks * 3 40 * Four with winches; two with cranes Fleet - Trailers No % of total Crane Flatdeck Lowbed 5 12 Stepdeck 3 7 Box 6 14 Total

48 OneLogix Linehaul Transportation of general freight into southern Africa as well as intra southern African logistics 35 trucks 30 flat deck Inter-Links and 5 flat Triaxels 48

49 R m % R m Other Logistics Services Revenue Constituents: Atlas QSA DriveRisk (equity accounted no contribution to group revenue or trading profit) Trading Profit * 7.0% % % 5.0% % % 3.0% * After allocation of pro-rata corporate costs 49

50 Atlas

51 Atlas customers 51

52 DriveRisk 52

53 DriveRisk 53

54 QSA 54

55 Prospects

56 Prospects Continued organic growth Focus on regional growth (opportunity for all group companies) Continue to investigate acquisitions Risks Rail Margin squeeze Complacency Dependency on vehicle market Labour relations Normal operational risks 56

57 Thank you Any questions? For any further Investor Relations assistance please contact: Ian Lourens (CEO) on or or Vanessa Rech (Keyter Rech Investor Solutions) on or