Nov 12, 2019 / 11:00PM GMT
Julian Russell - Eclipx Group Limited - CEO
Good morning, all, and thank you for joining this call. We've been in regular contact since I joined in May, and much of this result has been preannounced.
2019 was clearly a disappointing year for the group driven for the most part by underperformance of our noncore businesses. As you know, we've made very good progress with corrective actions under our Simplification Plan. And I'll update you on that as we go through the slide deck. But first, I'll move to Slide 4.
The core business has delivered a solid performance against a difficult market backdrop. The capital structure has been strengthened in the period, which provides us with execution and flexibility to implement our Simplification Plan. The noncore businesses, Right2Drive and CarLoans, have underperformed in FY '19, and we expect to sell or restructure these in FY '20.
Let me go into group performance on the following slide. The core business was solid half-on-half. Net operating income and end-of-lease income have shown improvements in the second half. While core OpEx is
Full Year 2019 Eclipx Group Ltd Earnings Call Transcript
Mar 29, 2024
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