results - onelogix annual result... · total cash consideration of r12,3m and issue of 7,35m ......

20 - 21 August 2015

For the year ended 31 May 2015

Results presentation

2

Group overview

Feedback on corporate actions and other activities

Financial highlights

Financial performance

Prospects

4

Individual thinking, collective success

Specialist logistics service provider

5

VDS – 100%

CVDS – 100%

OneLogix Projex – 90%

Madison – 51%

OneLogix United Bulk – 74%

OneLogix Linehaul – 75%

Jacksons | Buffelshoek 74%

Atlas 360 – 71.3%

OneLogix Cargo Solutions –

69.5%

QSA – 85%

DriveRisk – 49% owned

associate

Abnormal Logistics Primary Product Logistics Logistics Services

Synergies between OneLogix and the companies will be maximised and management interests aligned more closely with those of shareholders

6

Well established niche logistics provider

Footprint across South Africa and neighbouring countries

Strong market position

Customer service focused / good staff relations

Cash generative

Company structure (empowering, entrepreneurial)

Structured to assimilate acquisitions

Management capabilities

Management shareholding

8

Share participation schemes

Staff (OLG Esizayo) – issue of 25,3m ordinary shares

Management (OLG Abaholi) – issue of 12,7m ordinary shares

BEE partner

Kagiso Capital – issue of 28,1m ordinary shares for R101m cash consideration

9

Purchase of minority shareholders holdings 10% - OneLogix Projex

25% - CVDS

14% - United Bulk

30% - QSA

2.7% - Atlas 360

Total cash consideration of R12,3m and issue of 7,35m ordinary shares in OneLogix

Purchase of additional shares in associate company and settlement of contingent liability Additional 9% of Drive Risk for cash consideration of R4,5m, plus

a contingent consideration of R6,5m

10

74% of Jackson and Buffelshoek

Purchase consideration R110m

11

PostNet SA

100% for cash consideration of R190,6m

After tax profit on disposal of R144,2m

Retail

S O L D

12

Official opening of R135m OneLogix Logistics Hub in KZN

Commencement of R85m phase 2 development

13

Acquired fully functional depot in Port Elizabeth

Commencement of development of Atlas 360 new site in Brakpan

Expanded OneLogix Linehaul fleet by 30%

Normal fleet rationalisation programme

14

Pomona

100 x 250w solar panels with 25kva grid tied inverter

OneLogix Logistics Hub

Rain and grey water initiative for vehicle washing purposes

15

Atlas 360

Acquired bull bar manufacturing capabilities

VDS

New joint venture initiative in Kenya

New initiative in Tanzania

Abnormal Logistics Logistics Services

16

Acquired 100% of Vision Transport

Solvent and acid transportation

Blue chip customer base

Many synergies to benefit Group

Purchase consideration R110m

17

74% of Cryogas

Housed within United Bulk

Purchase consideration R5,5m

19

Revenue(continuing operations)

Up 8% to R1,368 billion

Trading Profit(continuing operations)

Up 15% to R125,1 million

EPS & diluted EPS

(cps)

Up 78% to 62,4 cps

HEPS(cps)

Decline 105% to (1,7) cps

Core HEPS(continuing operations)

(cps)

Up 16% to 33,1 cps

Net cash(cash generated from

operations by continuing operations)

Up 9% to R129,8 million

Final Dividend

(cps)

6 cps (2014: 0 cps)

Total Dividend

(cps)

14 cps (2014: 0 cps)

20

Significant amount of corporate activity

Difficult trading conditions but business performed satisfactorily

Foundation for future growth in place

Invested in operational infrastructure

Secured new BEE partner – Kagiso Capital

Staff and management share participation scheme implemented

Resumption of dividend payments

21

May 2015 May 2014

Return on equity (ROE) (%) 28.6 24.3

Headline return on equity (%) (0.8) 21.7

Core headline return on equity (%) 15.5 23.1

Gearing ratio (excl cash) (%) 41.7 44.4

Interest cover (times) 5.3 5.4

22

Rm

Revenue – Full Year

904.0

352.2

111.8

1 368.0

ABNORMAL LOGISTICS

PRIMARY PRODUCT LOGISTICS

LOGISTICS SERVICES

TOTAL

23

CompanyNumber of

vehiclesNumber

of trailers

Average vehicle

age

Vehicle Delivery Services 243 255 5

United Bulk 140 204 7,7

Onelogix Linehaul 45 85 2

Onelogix Projex 55 77 5,22

Jackson Transport 74 129 5,12

Buffelshoek Transport 35 80 4,2

Madison Freight 42 51 >10

Total 634 881

25

R’m May 2015 May 2014Change

(%)

Revenue 1 368,0 1 272,1 8

Trading profit 125,1 109,0 15

Trading profit margin (%) 9,1 8,6

Profit before taxation 28,8 102,7 (72)

Profit for the year from continuing operations 2,1 76,2 (97)

Profit for the year from discontinued operations 146,0 10,2

Profit for the year 148,1 86,4 71

2015 impacted by:- Kagiso Capital – R71,6million (share based payment charge)- Sale of PostNet – R144,2 after tax profit- Significant acquisitions concluded- New infrastructure developments

26

Revenue (Rm) Trading profit (Rm) and trading margin (%)

64

3.6 83

5.4

10

10

.1 12

72

.1

13

68

.0

2011 2012 2013 2014 20156

0.2

73

.6

80

.5

10

9.0

12

5.1

9.4

8.8

8.0

8.6 9.1

0.7

1.7

2.7

3.7

4.7

5.7

6.7

7.7

8.7

9.7

10.7

0

20

40

60

80

100

120

140

2011 2012 2013 2014 2015

27

HEPS and Core HEPS (cents)

19

.0

22

.1 25

.1

31

.2

-1.7

19

.5 22

.5 25

.6

33

.3

33

.9

2011 2012 2013 2014 2015

HEPS Core HEPS

HEPS 2015 impacted by:- Kagiso Capital | R71,6m share based payment charge | 32,1 cps effect

28

Rm

69.6 106.7 84.0 119.1 129.8

60.2 73.6

80.5

109.0

125.1

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

2011 2012 2013 2014 2015

Cas

h f

low

Trad

ing

pro

fit

Operating Cash Flow from Continuing Operations Trading Profit

29

Declared interim dividend of 8 cps Paid in March 2015

Declared final dividend of 6 cps

Payable in October 2015

Additional investment in subsidiaries and associate of R12,3m

Umlaas Road development

Funded R50m from cash resources

Jackson/Buffelshoek acquisition Funded R80m from cash resources

Fleet R141,6m

Replacement R15,2m

Expansion R126,4m

Property Development R145,8m

Umlaas Road R135,2m

Other R10,6m

IT R5,8m

Other R6,3m

Total R299,5m

Capex

30

R’m May 2015 May 2014Change

(%)

Non-current assets 1 035,8 665,3 56

Current assets 413,1 260,9 58

Total assets 1 448,9 926,2 56

Equity 688,4 371,6 85

Liabilities

Non-current liabilities 419,5 234,8 79

Current liabilities 341,0 319,8 7

Total equity and liabilities 1 448,9 926,2 56

NAV per share (cents) 261,6 161,5 62

NTAV per share (cents) 207,9 124,3 67

32

Revenue - 2014

74%

19%

7%

Abnormal Logistics

Primary Product Logistics

Logistics Services

Revenue - 2015

66%

26%

8%

Abnormal Logistics


Logistics Services

33

Trading Profit - 2015

70%

26%

4%

Abnormal Logistics


Other Logistics Services

Trading Profit - 2014

77%

17%

6%

Abnormal Logistics


Logistics Services

34

Strive to strategically interact through the entire supply chain

Logi

stic

s su

pp

ly c

hai

n

Strategic

Tactical

Operational

1

2

3

Supply chain design and optimisation

Advanced planning and scheduling

Execution

VDS CVDS OLP Madison OLH UBulk OCS

Opportunity

J B

35

Pro

du

cts Market

penetrationMarket

development

Product development

Diversification

Exis

tin

gN

ew

Existing New

Markets

3737

Constituents: Vehicle Delivery Services

Commercial Vehicle Delivery Services

OneLogix Projex

Madison

Revenue

Trading Profit *

* After allocation of pro-rata corporate costs

85.7 89.1

9.1%

9.9%

8.0%

9.0%

10.0%

11.0%

12.0%

10

30

50

70

90

110

2014 2015

%R’m

937.8

904.0

800

840

880

920

960

2014 2015

R’m

47

Constituents: OneLogix United Bulk

OneLogix Linehaul

Jackson

Buffelshoek

Revenue

Trading Profit *


245.4

352.2

150180210240270300330360390

2014 2015

R’m

18.2

31.9

7.4% 9.1%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

15171921232527293133

2014 2015

%R’m

49

Transportation of general freight into southern Africa as well as intra southern African logistics

35 trucks increasing to 45

40 flat deck Inter-Links and 5 flat Triaxels

53

Constituents: Atlas 360

Cargo Solutions

QSA

DriveRisk (equity accounted –

no contribution to group revenue or trading profit)

Revenue

Trading Profit *


88.9

111.8

0.0

20.0

40.0

60.0

80.0

100.0

120.0

2014 2015

R’m

5.1

4.15.7%

3.6%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

2

3

4

5

6

2014 2015

%R’m

62

Continued organic growth

Focus on regional growth (opportunity for all group companies)

Continue to investigate acquisitions

Appropriate smaller entrepreneurial businesses

Risks Rail Margin squeeze Complacency Dependency on vehicle market Labour relations Normal operational risks

For any further Investor Relations assistance please contact:

Ian Lourens (CEO) on011-920-9150 or [email protected]

orVanessa Rech (Keyter Rech Investor

Solutions) on 087-351-3814 or [email protected]

results - onelogix annual result... · total cash consideration of r12,3m and issue of 7,35m ......

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