NTAW (NTD) Investor presentation summary

Business overview and recent developments

• Operates as a major tyre and wheel importer in Australia and New Zealand, serving over 3,500 B2B customers and employing around 850 people.

• Generated $533 million in FY24 revenue, focusing on core brands and long-standing supplier relationships.

• Consolidated Dunlop distribution in Australia and New Zealand, following Goodyear's exit from wholesale and retail operations.

• Completed major warehouse consolidations and unified business systems in April 2024.

• Expanded Black Rubber operations and opened a new NZ distribution centre in September 2024.

Capital raising and financial position

• Raising $12.41 million via an underwritten, non-renounceable entitlement offer at $0.37 per share, issuing 33.5 million new shares.

• Proceeds will fund working capital for Dunlop tyre distribution and cover offer costs; $400,000 in fees payable to advisors.

• Trade finance facility increased from $73 million to $93 million, expiring September 2027.

• Net debt at 30 June 2024 was $52.2 million, with net tangible assets per share at $0.53.

• Gross debt was $91 million and cash held was $38.9 million at year-end.

FY24 financial performance

• FY24 revenue was $533.4 million, down 8.4% from FY23 due to a reduced brand portfolio.

• Gross profit margin improved to 31.6% (from 28.1% in FY23) due to product mix, lower supplier prices, and reduced freight costs.

• Operating EBITDA rose to $42.3 million (up 9.1%), while net profit after tax was $1.2 million.

• Operating costs increased by less than 2%, and operating cash flow was $35.2 million.

• FY24 included the first three months of Dunlop distribution; depreciation and finance costs increased.