Eagers Automotive (APE) Investor Presentation summary

Financial performance and growth

• Achieved record half-year revenue, up 13.4% year-on-year, with strong underlying operating EBITDA and return on sales (ROS) of 5.0%.

• Interim dividend maintained at 24.0 cps, reflecting continued shareholder returns.

• Material growth driven by strategic acquisitions and incremental contributions from finance, insurance, and car care.

• Underlying core like-for-like ROS improved to 4.6%, with further upside from ongoing optimisation and integration.

• Retail joint venture and independent used business delivered strong performance, supporting sustainable growth.

Market dynamics and demand

• Record new vehicle deliveries to September 2024, with monthly records in 7 of the last 12 months.

• Order bank remains at approximately five times pre-COVID levels, supporting turnover growth and resilient margins.

• Demand for new vehicles remains strong, with order write tracking in line with record deliveries.

Business model optimisation and strategic initiatives

• Focus on optimising the business model to maximise operating leverage, including property, people, and finance & insurance margin levers.

• Targeting a 20% reduction in rent to gross profit ratio and $1.5m revenue per employee.

• Ongoing property consolidation and rollout of proprietary technology to drive productivity.

• Further upside expected from integration of acquisitions, greenfield operations, and retail joint ventures.