Post on 02-Oct-2021
transcript
Final Results Presentation
FOR THE YEAR ENDED 30 JUNE 2020
DISCLAIMER
2
The financial information pertaining to Super Group Limited’s (Super Group’s)
results are exactly as published on SENS in terms of the JSE Limited’s Listings
Requirements.
This presentation contains certain financial information which has been prepared
for illustrative purposes only. The directors are responsible for compiling this
financial information which have not been reviewed nor audited by Super Group’s
external auditor.
This presentation may contain certain "forward-looking statements" regarding
beliefs or expectations of Super Group, its directors and other members of its
senior management about Super Group’s financial condition, results of
operations, cash flow, strategy and business and the transactions described in
this presentation. Forward-looking statements include statements concerning
plans, objectives, goals, strategies, future events or performance, and underlying
assumptions and other statements, which are other than statements of historical
facts. The words "believe", "expect", "anticipate", "intend", "estimate", "forecast",
"project", "will", "may", "should" and similar expressions identify forward-looking
statements but are not the exclusive means of identifying such statements. Such
forward-looking statements are not a guarantee of future performance. Rather,
they are based on current views and assumptions and involve known and
unknown risks, uncertainties and other factors, many of which are outside the
control of Super Group and are difficult to predict, that may cause the actual
results, performance, achievements or developments of Super Group or the
industry in which it operates to differ materially from any future results,
performance, achievements or developments expressed by or implied from the
forward-looking statements. Each member of Super Group expressly disclaims
any obligation or undertaking to provide or disseminate any updates or revisions
to any forward-looking statements contained in this announcement.
FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
RESULTS AT A GLANCE
3FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
2019: R2.8bn – down 37.1%
EBITA
R1.8bn2019: R2.7bn – down 41.0%
Operating profit
R1.6bn
2019: 373.8c – down 59.6%
HEPS
151.2c
2019: R37.9bn – down 8.7%
Revenue
R34.6bn
2019: R3.1bn – up 37.0%
Cash generated from
operations
R4.3bn2019: R12.6bn – up 3.3%
Net asset value
R13.0bn
for the year ended 30 June 2020
2019: R1.4bn – down 59.7%
Headline earnings
R546.6m
2019: 24.1%
Gearing (excl IFRS 16)
24.1%
United Kingdom (UK)
⚫ UK experienced a weakness in demand for short-term rentals and reduced residual values
⚫ The UK dealerships dramatically impacted by 10 week-lockdown
⚫ No clear Brexit strategy – negotiations hampered by pandemic
South Africa (SA)
⚫ Only essential products delivered during Level 5 lockdown
⚫ QSR market closed for 11 weeks with limited trading to year end
⚫ Unemployment rising at an alarming rate –nearly 32%
⚫ SA economy moved into recession
⚫ Freeze on new FML contracts in parastatals and many corporates
⚫ SA dealerships closed for 9 weeks during Covid-19 lockdown
⚫ NAAMSA market: 35.9%
⚫ Registration offices remain disrupted by pandemic
Australasia
⚫ Australian challenging operating conditions with negative consumer sentiment
⚫ Corporate activity maintained with new opportunities emerging
⚫ New Zealand’s activity levels remained stable
European Union (EU)
⚫ German automotive manufacturing volumes at a 23-year low
⚫ Automotive OEMs shut down plants for 12 weeks
⚫ Brexit uncertainty prevails
Africa
⚫ Commodities (incl fuel, tyres and minerals) showed good volumes
⚫ FML market gaining momentum
THE TRADING ENVIRONMENT
4FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
Global economic growth slows down dramatically with the outbreak of Covid-19 pandemic
Supply Chain EuropeSupply Chain Africa
SG FleetFleet Africa
Dealerships UKDealerships SA
5FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
Total capital items, IFRS 16 implementation, Covid-19 impact and Covid-19 once-off costs = R1.8 billion
United Kingdom (UK)
⚫ New vehicle registrations came to a halt in March with signs of recovery since June 2020
⚫ Dealerships UK closed for: 63 days
⚫ Direct Covid-19 related costs: R17.5m
South Africa (SA) Lockdown Levels
(27 March 2020 to 30 June 2020)
⚫ Level 5: 27 March – 30 April (35 days)
⚫ Level 4: 1 May – 31 May (31 days)
⚫ Level 3: 1 June – 30 June (30 days)
Australasia
⚫ Revenue down 42% 4Q2020
⚫ Direct Covid-19 related costs: R5.5m
European Union (EU)
⚫ Automotive OEMs closed: +/-48 days
⚫ Direct Covid-19 related costs: R4.2m
⚫ inTime goodwill impairment: R569.1m
⚫ inTime intangible assets impairment: R30.3m
South Africa (SA)
⚫ SC SA goodwill impairments: R111.7m
⚫ SC Africa direct Covid-19 related costs: R21.8m
⚫ Slow process in getting new vehicles
⚫ Direct Covid-19 related costs: R0.6m
⚫ Dealerships SA closed for: 40 days
⚫ Goodwill and property impairments: R183.6m
⚫ Direct Covid-19 related costs: R4.1m
THE IMPACT OF WEAK MARKET CONDITIONS AND COVID-19The majority of Super Group’s businesses listed as essential service providers
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6FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
THE ESTIMATED DIRECT IMPACT OF COVID-19The estimated direct financial impact of Covid-19 on revenue and profit before tax
Revenue (R’m) Profit before tax (R’m)
Estimated total: R932mEstimated total: R5 178m
CORPORATE ACTIONS CONCLUDED DURING THE YEAR
7FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
BUSINESS DESCRIPTION INTEREST DATE
CONSIDERATION
R’MILLION
Supply Chain
Africa
Acquired LiebenLogistics (Lieben Logistics) and Baleka Freight 65.0% 03/07/19 (498.8)
Acquired GLS Supply Chain Equipment (GLS) 51.0% 03/07/19 (96.4)
Corporate Listed its SPG008, SPG009 and SPGC01 senior unsecured notes - 15/10/19 750.0
Corporate Acquired an additional 2.6 million SG Fleet shares for AUD 6 million 60.1% 30/06/20 (60.1)
Supply Chain
EuropeAcquired Trans-Logo-Tech (TLT) 80.0% 05/07/19 (186.9)
Supply Chain
AfricaAcquired Zultrans, an express freight and distribution business 80.0% 01/03/20 (26.7)
Acquired an additional interest in Lieben Logistics 2.4% 02/01/20 (13.1)
57%
7%
35%
(5%)6%
INTERNATIONAL VS SOUTH AFRICAN OPERATIONS
8FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
54%
25%
11%
8%2%
Revenue per
country
South Africa United Kingdom Australia
Europe Africa and other
Operating profit
per country
Super Group’s international operations contributed 46% (June 2019: 48%) to revenue and
43% (June 2019: 50%) to operating profit
The Europe segment reported an operating loss for the
year under review
5 038
5 954
2 474 2 371
1 130 1 259
3 4193 952
1 201 9701 595 1 700
457
755
145
338
610
0
1 000
2 000
3 000
4 000
5 000
6 000
7 000
FY19 FY20 FY19 FY20 FY19 FY20 FY19 FY20 FY19 FY20 FY19 FY20
SC Africa SC Europe Fleet Africa SG Fleet Dealerships SA Dealerships UK
Right-of-Use Assets
6 411
3 126
4 097
1 308
2 310
NET OPERATING ASSETS AND RNOA
The Group’s RNOA for the year ended June 2020 is 6.3% (June 2019: 12.6%)
Group WACC is 9.4%
9FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
RNOA 15.7% 8.7% 1.1% (2.0%) 7.8% 8.6% 20.0% 10.8% 20.0% 8.4% 13.6% 2.1%
WACC 12.0% 12.6% 4.6% 4.7% 12.0% 12.6% 6.0% 5.4% 12.0% 12.6% 5.8% 6.3%
262
469 492
393
523
204
655
992
696
Jun 2018 Jun 2019 Jun 2020
4 657
5 923 6 184
4 827
5 368 5 4019 484
11 291 11 585
Jun 2018 Jun 2019 Jun 2020
0.6%
SUPPLY CHAIN AFRICA
12FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
Revenue Operating profit
• Revenue increased by 2.6% mainly attributable to the inclusion of Lieben Logistics and GLS for the full year
• The loss in revenue due to Covid-19 was estimated at R746 million
• During Level 5, the South African consumer and industrial businesses were operating at 58% of historic activity levels
• The positive impact of new consumer and industrial contracts gained in October 2019 was negated by the outbreak of Covid-19
Operating profit declined by 29.8% largely due to:
• a sharp decline in the commodity mining volumes, especially coal, due to power outages 1H2020 and lower usage of electricity in 2H2020;
• a drop in manufacturing and consumer activity during lockdown; and
• bad debt provisions of R148.9 million mainly as a result of mining and industrial clients going into business rescue
• Covid-19 impact estimated at R217 million partly offset by an IFRS 16 net adjustment of R32.5 million
Revenue (R’m) Operating profit (R’m)
First half
Second half
4.4%
4.9%
(61.0%)
SUPPLY CHAIN AFRICA
13FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
June 2019June 2020
34.1%
17.8%
48.1%
Revenue
per sector
Consumer businesses
Commodity businesses
Industrial businesses
28.0%
19.1%
52.9%
Revenue
per sector
20.7%
14.8%
64.5%
Operating
profit per
sector
0.2%
22.9%
76.9%
Operating
profit per
sector
SUPPLY CHAIN EUROPE
14
Revenue Operating loss
• Revenue decreased by 0.8% and in Euro-terms by 7.4%
• The estimated impact of Covid-19 was R322 million
• The decrease was mainly as a result of declines in:
• new vehicle production volumes in Germany - down 23.0% compared to
June 2019;
• transport activities – down 25.4% since 1 July 2019; and
• kilometers traveled – down 27.1% since 1 July 2019
• Operating profit decreased to a loss after an amortisation charge on PPA
intangibles of R100.0 million - in Euro-terms, declined by 293.1%
• The severe decrease in the profitability of the business was due to lower
OEM production levels and closure for 2 months during Covid-19, estimated
Covid-19 impact of R97 million
• The business closed three satellite branches and two trans-shipment points
• The weakening of the average Rand against the Euro exacerbated the loss
by R50.1 million
First half
Second half
1 608 1 512 1 495
1 4951 355 1 349
3 1032 867 2 844
Jun 2018 Jun 2019 Jun 2020
(0.4%)
(1.1%)
63
33
(18)
71
6
(63)
134
39
(81)
Jun 2018 Jun 2019 Jun 2020
FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
Revenue (R’m) Operating profit/(loss) (R’m)
61 63
83
56 55
60117 118
143
Jun 2018 Jun 2019 Jun 2020
9.1%
31.7%316 315
394
305
383
415621
698
809
Jun 2018 Jun 2019 Jun 2020
25.1%
8.4%
FLEET AFRICA
16FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
Revenue Operating profit
• The annuity nature of this business resulted in revenue stability, despite Covid-19
• Revenue increased by 15.9% on the back of:
• securing new FML and Managed Maintenance contracts; and
• replacement of vehicles on a major long-term FML contract – albeit slower due
to the shutdown of automotive OEMs for two months
• Operating profit increased by a pleasing 21.2%
• The operating profit margin increased from 16.9% to 17.7%
• Covid-19 cost of compliance amounted to R0.6 million
Revenue (R’m) Operating profit (R’m)
First half
Second half
493455
365
516515
214
1 009970
579
Jun 2018 Jun 2019 Jun 2020
(19.8%)
(58.4%)
1 600
2 543 2 505
1 563
2 6102 209
3 163
5 1534 714
Jun 2018 Jun 2019 Jun 2020
(1.5%)
(18.2%)
SG FLEET
17FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
Revenue Operating profit
• Revenue decreased by 8.5% (11.1% in AUD-terms), with the impact of Covid-19
estimated at R376 million
• SG Fleet continued to report a decline in consumer sentiment, resulting in:
• lower vehicle retail sales; and
• poor novated lease credit activity levels
• Operating profit decreased by 40.3% (42.0% in AUD-terms)
• Covid-19 impact estimated at R203 million, being mainly due to lower
novated lease volumes
• The operating profit margin decreased from 18.8% to 12.3%
• An AUD11 million decline in contribution was the result of the introduction
of the annuity profiled insurance product
First half
Second half
Revenue (R’m) Operating profit (R’m)
167 161 162
156 158
(15)
323 319
147
Jun 2018 Jun 2019 Jun 2020
(0.6%)5 017
4 156 4 069
4 340
3 978
2 825
9 357
8 134
6 894
Jun 2018 Jun 2019 Jun 2020
(2.1%)
(29.0%)
DEALERSHIPS SA
19FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
Revenue Operating profit
• Revenue decreased by 15.2% mainly as a result of:
• a decline in premium luxury vehicle sales in 1H2020; and
• the closure of dealerships for 40-days over the hard lockdown period – the
estimated impact of Covid-19 was R1 218 million
• Dealerships SA tracked new vehicle industry trends, reporting a 20.5% decline in new
vehicle sales (existing operations), while used vehicle sales declined by 13.9%
• Operating profit decreased by 53.9%
• The estimated impact of Covid-19 was R170 million
• Four dealerships were closed and two operations were consolidated in the
Western Cape
• Pent-up demand for vehicles, parts and service drove improved activity in
June
First half
Second half
Revenue (R’m) Operating profit (R’m)
DEALERSHIPS UK
20FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
Revenue Operating profit
• Revenue decreased by 20.4% (in GBP-terms by 25.9%) largely due to:
• the change in the Ford parts wholesale model in 1H2020; and
• the closure of dealerships for 63-days during lockdown – estimated impact of
Covid-19 was R2 515 million
• Dealerships UK’s share of Ford retail sales declined marginally to 8.35% (2019: 8.91%)
• Kia’s retail sales increased to 1.97% (2019: 1.73%)
• Parts and Services performed satisfactorily
• Operating profit decreased by 81.5% and in GBP-terms by 82.7%
• The estimated Covid-19 impact was R245 million
First half
Second half
4 765 4 9854 213
5 160 4 720
3 511
9 925 9 705
7 724
Jun 2018 Jun 2019 Jun 2020
(15.5%)
(25.6%)
111 116 119
116
154
(69)
227
270
50
Jun 2018 Jun 2019 Jun 2020
Revenue (R’m) Operating profit (R’m)
• The financial results for the year ended 30 June 2020 were significantly impacted by:
• Covid-19 loss of revenue and profit contribution
• Adoption of IFRS 16 on leases
• Impairments of goodwill, intangible assets and property
• The direct cost of Covid-19 included:
• Compliance costs of R22.3 million
• Retrenchment costs of R31.4 million
• Bad debt provisions totaled R203.6 million, which includes the Supply Chain Africa mining customers that went into business
rescue
• Strong cash flows were generated from operations, ending the year with a cash and cash equivalent amount of R4.6 billion
• Net debt:equity (excluding IFRS 16) was in line with the prior year at 24.1% (well below the internal 40% threshold level set)
FINANCIAL SUMMARY
22FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
R’million
30 June 2020
Reviewed
30 June 2019
Restated
Revenue 34 578 37 862
Operating expenses (31 208) (34 098)
Depreciation (1 582) (921)
EBITA 1 788 2 843
EBITA margin 5.2% 7.5%
Operating profit 1 578 2 674
Operating profit margin 4.6% 7.1%
Capital items (879) (68)
Finance costs (581) (347)
Profit before tax 118 2 259
STATEMENT OF COMPREHENSIVE INCOME
23FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
R’million
Estimated impact of
Covid-19*
Adoption of
IFRS 16
Revenue 5 179 22
Operating expenses (4 247) (578)
Depreciation - 436
EBITA and Operating profit 932 (142)
Finance costs - 154
Profit before tax 932 12
Headline earnings 613 8
IMPACT OF COVID-19 AND IFRS 16
24FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
The estimated impact of Covid-19 and IFRS 16 were as follows:
* The estimated impact of Covid-19 is provided for illustrative purposes only and has not been reviewed nor audited
STATEMENT OF FINANCIAL POSITION
25
Assets – R’million
30 June 2020
Reviewed
30 Jun 2019
Restated Change
FIXED ASSETS 21 427.0 16 470.3 30.1%
Property, plant and equipment 6 755.9 6 077.3 11.2%
Right-of-Use assets 2 320.8 - -
Investment property 168.9 164.2 2.9%
Full maintenance lease assets 1 885.8 1 551.6 21.5%
Goodwill and intangible assets 9 785.7 8 454.8 15.7%
Investments and other non-current assets (incl. deferred tax) 509.9 222.4 129.3%
CURRENT ASSETS 14 461.6 13 810.3 4.7%
Inventories 4 842.9 4 488.9 7.9%
Trade, sundry and tax receivables 4 990.4 5 744.2 (13.1%)
Cash and cash equivalents 4 628.3 3 577.2 29.4%
TOTAL ASSETS 35 888.6 30 280.6 18.5%
FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
STATEMENT OF FINANCIAL POSITION (CONTINUED)
26
Equities and liabilities – R’million
30 June 2020
Reviewed
30 Jun 2019
Restated Change
Total equity 13 026.2 12 613.0 3.3%
Fund reserves and provisions 1 299.8 875.9 48.4%
Deferred tax liabilities 587.0 530.7 10.6%
Interest-bearing borrowings 6 479.9 5 741.8 12.9%
FML borrowings 1 290.5 877.7 47.0%
Right-of-Use lease liabilities 2 880.7 - -
Non-controlling interest put options and other liabilities 342.3 101.2 238.2%
Trade and other payables (incl tax payable) 9 982.2 9 540.3 4.6%
TOTAL EQUITIES AND LIABILITIES 35 888.6 30 280.6 18.5%
FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
NET BORROWINGS (EXCL ROU)
27
R’million
Borrowings
30 June 2020
Cash
30 June 2020
Net borrowings/
(cash)
30 June 2020
Net borrowings/
(cash)
30 June 2019 Change
Africa 5 027.0 (2 509.1) 2 517.9 2 718.2 (7.4%)
United Kingdom 1 355.0 (513.2) 841.8 554.8 51.7%
Australia 1 349.4 (1 197.6) 151.8 170.9 (11.2%)
Europe 39.0 (408.5) (369.5) (401.6) (8.0%)
Total 7 770.4 (4 628.4) 3 142.0 3 042.3 3.3%
17.4%
17.4%
0.5%
64.7%
2020Borrowings
13.7%
17.4%
68.9%
2019Borrowings
United Kingdom
Australia
Africa
Europe
FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
DEBT MATURITY PROFILE
28
-
500
1 000
1 500
2 000
2 500
Year 1 Year 2 Year 3 Year 4 Year 5<
R’m
illio
n
Secured asset-based borrowings
Secured property borrowings and other
SG Fleet borrowings
Corporate bond
Acquisition borrowings
FML borrowings
1 4571 346
2 349
1 595
1 023
FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
DEBT COVENANTS
29
• Covenants exclude:
• SG Fleet
• IFRS 16
• The Group met its debt covenants
FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
Total of R2.3 billion
3 577
4 628
3 447
855
115 351
(571)(509)
(205)
(955)(603)
(735) (72) (64)(3)
0
1 000
2 000
3 000
4 000
5 000
6 000
7 000
8 000
9 000O
penin
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ala
nce
Opera
ting c
ash flo
w
Work
ing c
apita
l
Net finance
costs
paid
Taxatio
n p
aid
Div
idend p
aid
to
non-c
ontr
olli
ng inte
rests
Net additi
ons to P
PE
& inta
ngib
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Net additi
ons to F
ML
Acquis
ition o
f busin
esses
(net of cash)
Additi
onal in
vestm
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in e
xis
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ubsid
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Net borr
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ais
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(incl F
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Share
optio
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Cash a
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une 2
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CASH FLOW MOVEMENT
30
(R’m)
FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
KEY FINANCIAL DATA
31
30 June
2020
30 June
2019
Return on Equity (3.0%) 12.6%
Return on Net Operating Assets 6.3% 12.6%
Group Weighted Average Cost of Capital 9.4% 9.2%
Net debt to equity (excl IFRS 16) 24.1% 24.1%
Net debt to EBITDA ratio (excl IFRS 16) 1.3x 1.0x
Net interest cover (excl IFRS 16) 5.8x 9.7x
Free cash flow* R3 483m R2 124m
Total unutilised funding facilities (excluding Corporate bond) R5 281m R4 033m
Closing currency rate movement between 30 June 2019 and 30 June 2020: Change
AUS Dollar 21.1%
Euro 21.6%
Pound Sterling 20.2%
US Dollar 23.2%* Free cash flow is calculated by reducing cash generated from operations with income tax paid, net maintenance capex and tax on net finance costs
FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
United Kingdom (UK)
⚫ One-stop commercial solutions across funding, maintenance, insurance and e-Commerce platforms
⚫ Establishing fleet partnerships
⚫ Leveraging data platforms – digitisationand e-Commerce trade platforms
South Africa (SA)
⚫ Continued development and integrated end-to-end solutions
⚫ Improved efficiencies, reduced costs and optimised asset investment
⚫ Collection of customer accounts and minimising cost of business
⚫ Focus on corporate solutions
⚫ Investment in digital and enhanced data solutions
⚫ Rationalisation to sustainable brands and sites
⚫ Network optimisation
⚫ Enhanced digital trading and purchase solutions or platforms
Australasia
⚫ The expansion of the Corporate business model to counter headwinds in the Consumer space
⚫ Integration and cross-selling opportunities in terms of transport solutions, including planning and optimisation platforms
⚫ A wider range of technology-driven, high value-add products and services
European Union (EU)
⚫ Diversification of customer base as recovery of automotive manufacturing volumes is slow
⚫ Improved flexibility and solutions visibility
⚫ Cost rationalisation to create lower critical mass
Africa
⚫ Increased digital trading platforms
⚫ Wider commodity trading solutions and margins
33FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
STRATEGYSuper Group remains committed to its strategy of being an innovative, integrated, mobility solutions company
Strategic issues and importance in the short-term include:
United Kingdom (UK)
⚫ FML environment improving
⚫ The UK new vehicle sales looking promising
⚫ Brexit resolution expected by December 2020
South Africa (SA)
⚫ Commodity volumes in South Africa to remain uncertain and volatile
⚫ Negative macroeconomic factors expected to impact industrial and consumer demand
⚫ Recovery from the Covid-19 lockdown and cost rationalisation will improve profitability
⚫ New Government, SOC and parastatal tender pipeline good
⚫ Despite the economic recession, Dealerships SA should reflect a strong recovery without further Covid-19 lockdowns
⚫ Interest rate cuts unlikely to have a material impact given burgeoning unemployment levels
Australasia
⚫ The Australian market, particularly in the novated lease space, is expected to remain challenging
⚫ The expansion of the Corporate business model to counter some of the headwinds in the Consumer space should improve performance
⚫ SG Fleet set to benefit from a wider range of technology-driven, high value-add products and services
European Union (EU)
⚫ German automotive manufacturing volumes starting to recover, albeit at a slow rate
⚫ Brexit uncertainty prevails
Africa
⚫ Commodities continue to perform well
34FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
PROSPECTSGlobal markets coming to terms with the “new normal” of doing business
BOARD CHANGES
35
Retirements (effective 28 November 2019)
New appointments (effective 1 October 2020)
Pitsi Mnisi Simphiwe Mehlomakulu
David Rose John Newbury Oyama Mabandla Mariam Cassim
Resignations (effective July/October 2020)
Pitsi, 37-years old, is a qualified Chartered
Accountant (SA) with extensive experience across
mining, investments, transportation, manufacturing
and construction. Her qualifications include the
following degrees: BCom, BCom (Hons) Acc, BCom
(Hons) Tax, CA(SA), Advanced Certificate in
Emerging Markets and Country Risk Analysis
(Fordham University, New York) and an MBA from
the Heriot-Watt University (Edinburgh, UK)
Simphiwe, 50-years old, is an entrepreneur and he, with
his co-founders, formed the Reatile Group to invest in the
Petroleum and Energy sectors of the Southern African
economy. He was appointed Executive Chairman and has
grown Reatile Group. His qualifications include: BSc
(Chemical Engineering), Post Graduate Diploma
(Marketing Management), MBA (University of
Witwatersrand) and completed the Stanford Executive
Programme at the Stanford University (California, USA)
FINAL RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2020
Thank you
Further information available on www.supergroup.co.zaInvestor Relations: Marlize Keyter – mkeyter@kris.co.za
PETER MOUNTFORDChief Executive Officer
COLIN BROWNChief Financial Officer