Mainfreight (MFT) AGM 2024 Presentation summary

Financial performance and key metrics

• Revenue declined 17% to $4.72 billion, with net profit down 35% to $278 million and PBT down 33% to $395 million.

• Dividend for the year totaled $1.72 per share; discretionary bonus pool reduced by 68%.

• Workforce reduced by 667 to 10,644, while branch count increased by 6 to 337 and presence expanded to 27 countries.

• Over three years, revenue grew 28.6% and PBT rose 40.4%, establishing a new growth base.

• Operating cash flow was $505 million, net capex $254 million, and net funds position improved to $22 million.

Operational overview and network expansion

• New Zealand and Australia performed steadily, while Asia, Americas, and Europe underperformed due to lower freight volumes and inflated overheads.

• Ongoing capital investment in network expansion, with $255 million and $254 million planned for FY25 and FY26, respectively.

• Recent and upcoming facility developments include major projects in Auckland, Townsville, Willawong, Dallas, Chicago, Amsterdam, and Mechelen.

• Strategic focus on high-quality, efficient facilities and intensifying network coverage.

• Branch network includes 92 in New Zealand, 74 in Australia, 79 in Americas, 54 in Europe, and 38 in Asia.

Sustainability and technology initiatives

• Solar generation capacity increased to 8.4 MW, battery storage to 9.5 MWh, and rainwater capture expanded.

• 84% of forklifts are electric, 46% of car fleet is hybrid/electric, and 1% of truck fleet is hybrid/electric.

• Over 500 customers now use the carbon tracking platform; climate risk disclosures published in NZ, with work underway in Australia and Europe.

• Gross emissions reduced by 10% since 2018 while doubling business size.