Bapcor Ltd (FRA:0BS)

Half Year 2025 Bapcor Ltd Earnings Call Transcript

Feb 25, 2025 / 10:30 PM GMT

Release Date Price: €1.93 (-1.49%)

Transcript

Key Points

Positve

Bapcor Ltd (ASX:BAP) reported a strong performance in its trade business, with revenue up 1.9% and EBIT up 12.3%, driven by cost reduction programs and a focus on customer service.
The company achieved a significant improvement in cash conversion, reaching 108.5%, which allowed for a 10% reduction in debt.
Bapcor Ltd (ASX:BAP) is on track to achieve cost savings at the top end of the $20 to $30 million range by the end of the fiscal year.
The company has a strong balance sheet with a leverage ratio of 1.65 times and over $290 million in undrawn facilities.
Bapcor Ltd (ASX:BAP) has made progress in technology upgrades, including a new Autobahn website and consolidation of several ERPs, which are expected to improve operational efficiency.

Negative

Pro forma impact was down 15.2% compared to the prior period, largely due to underperformance in retail and specialist wholesale segments.
The retail segment experienced a 26.1% decline in EBITDA, driven by lower revenue, gross margin, and higher operating costs.
The specialist wholesale business faced challenges due to ongoing consolidations and required restructuring, impacting performance.
Bapcor Ltd (ASX:BAP) has a complex business structure with duplicate infrastructure and a lack of investment in the right areas, which complicates operations.
The company is still facing challenges in the macroeconomic environment, particularly in New Zealand, where economic conditions remain significantly challenged.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BAP.AX - Bapcor Ltd
Half Year 2025 Bapcor Ltd Earnings Call
Feb 25, 2025 / 10:30PM GMT

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Presentation
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Unidentified_1 [1]
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Please stand by. We're about to begin.

Good day everyone and welcome to the Babco half year results announcement conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Angus McKay. Please go ahead, sir.

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Unidentified_2 [2]
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Thank you, Lynette. And welcome to everyone who has dialed into today's call. As Lynette said, my name is Angus McKay, and I'm joined here today with George Sarwood. And together, we'll be presenting the Baco half one results for the 2025 fiscal.

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