MOVE LOGISTICS GROUP LIMITED
FY22 RESULTS AND STRATEGY
Chris Dunphy, Executive Director
Lee Banks, Chief Financial Officer
24 August 2022
FY22 PERFORMANCE SNAPSHOT
First 9 months of 2-year programme to strengthen and grow MOVE
Earnings in line with guidance
Continuing Operations1
INCOME | EBITDA | EBIT | NPAT/NLAT3 |
Normalised2 | Normalised2 |
$349.1m | $54.3m | $12.2m | $(4.2)m |
FY21: $332.3m | FY21: $54.5m | FY21: $11.2m | FY21: $0.9m |
NPAT | LTIFR | GEARING | FREE CASHFLOW |
Normalised2 |
$0.4m | 15.81 | 22.3% | $43.9m |
FY21: $(0.2)m | FY21: 19.84 | FY21: 62.9% | FY21: $45.0m |
- Continuing operations excludes Specialist due to the planned divestment of this division
- Normalised EBITDA, Normalised EBIT and Normalised NPAT exclude non-controlling interest and non-trading adjustments of $3.4m pre-tax related to restructuring and resetting the business as part of the strategic plan (FY21: $1.5m)
- Including discontinued operations, attributable to owners of the company
FY22 Results Presentation | 2 |
UPDATE ON KEY STRATEGIC PRIORITIES
Resetting the business to deliver growth
COMPLETED:
- Comprehensive business review
- Restructured the business divisions to better reflect asset utilisation and customers
- Strengthened the leadership team
- Commenced digital journey
- Refreshed the Board
- Diversified the share register
- Considerably strengthened the financial structure through successful $40m capital raise
IN PROGRESS:
• Fix Freight:
• Concentrate on margin
• Freight system upgrade
• Transition to asset light model
• Execute Move Oceans strategy, commencing with trans-Tasman route
- Grow the Contract Logistics offering
- Focus on industry verticals
- Reposition property
- Improve capability and retention
- Sale process for Specialist business
FY22 Results Presentation | 3 |
FY22 OPERATING ENVIRONMENT
Challenging but surmountable conditions
OPERATING ENVIRONMENT
- Restricted operating environment due to COVID lockdowns
- Increase in global and local supply chain disruption
- Increasing inflationary pressure
- Driver shortages becoming more acute
- Interest rates continue to rise
IMPACT ON MOVE
- Significant decrease in fuel deliveries due to reduced client demand and impact of COVID on normal trading levels
- Supply chain disruptions and cost pressures delaying planned improvements in Freight reset programme
- Delay in asset replacement programme (trucks) resulting in increased maintenance costs on existing assets
- Increased operating costs
- Strong international volumes and record ocean freight pricing
FY22 Results Presentation | 4 |
FINANCIAL RESULTS
FY22 Results Presentation | 5 |
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