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Turners : FY20 Investor Roadshow
July 29, 2019 at 08:10 pm EDT
Turners
FY20 Investor
Roadshow
July & August 2019
Agenda and introductions
Market Update
Highlights and Divisional Review
Strategy
• Focus Areas and Outlook
Todd Hunter CEO
Aaron Saunders CFO
2 • FY20 INVESTOR ROADSHOW PRESENTATION
3 • FY20 INVESTOR ROADSHOW PRESENTATION
NZ used car market still at strong historic levels
Annual changes in used vehicle ownerships
1,200,000
1,000,000
800,000
600,000
400,000
200,000
0
01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18
Annual registrations of used, ex-overseas vehicles
250,000
200,000
150,000
100,000
50,000
0
01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18
Source: NZTA - Used Car Change of Ownership Stats
After a period of growth used car change of ownership numbers have plateaued.
Underlying demand still strong with more cars exiting fleet due to cost of repairs increasing and a stricter WoF regime from NZTA.
Mar 2020, all vehicles imported into the country required to have ESC, impact in sub $8k budget segment.
Margins have recovered from low point Oct/Nov 2018.
Industry is going through a period of consolidation Registered dealers down 5% cf. 2018
Less than 10% of Turners volume comes from used imports
4 • FY20 INVESTOR ROADSHOW PRESENTATION
3.85m
953,000
Light vehicles in the
The number of cars in the light vehicle
New Zealand vehicle
fleet that are 20 years or older
fleet
13,000 EVs
The number of EVs registered in
New Zealand to end of March 2019
140,000 cars
204,000
Used cars imported from Japan for
Average odo reading for a scrapped
year ended Mar 2019 down 11%
car in the light fleet for 2017
on Mar 18
1.13 m
used cars were traded to the year ended 31 March 2019 down 1% on year ended Mar 18
18.5 years
The average age light vehicles were scrapped from fleet was
19.5 years for an import and 17.5 years for New Zealand new in
2017
5 • FY20 INVESTOR ROADSHOW PRESENTATION
This is an excerpt of the original content. To continue reading it, access the original document here .
Disclaimer
Turners Automotive Group Limited published this content on 30 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2019 00:09:09 UTC
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Duration Auto. 2 months 3 months 6 months 9 months 1 year 2 years 5 years 10 years Max.
Period Day Week
More charts
Turners Automotive Group Limited is a New Zealand-based integrated financial services company, primarily operating in the automotive sector. The Companyâs segments include Auto retail, Finance, Insurance, Credit management and Corporate & other. The Auto retail segment offers remarketing (motor vehicles, trucks, heavy machinery and commercial goods) and purchasing goods for sale. The Finance segment provides asset-based finance to consumers and SME's. The Insurance segment is engaged in marketing and administration of a range of life and consumer insurance products. The Credit management segment provides collection services, credit management and debt recovery services to the corporate and SME sectors. Its automotive ecosystem makes it easy for its customers, allowing them to buy, sell, finance and insure their vehicle through its brands and businesses. The Companyâs business activities are located in New Zealand and Australia.
More about the company
Last Close Price
2.642
USD
Average target price
3.15
USD
Spread / Average Target
+19.23%
Consensus
1st Jan change
Capi.
-2.83% 233M -9.80% 11.06B +46.39% 8.78B 0.00% 2.38B +17.35% 1.89B +40.52% 898M +11.69% 451M 0.00% 427M -25.14% 373M -72.18% 363M
Used Car Dealers
+951% of historical performance
More than 20 years at your side
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