Mainfreight (MFT) Investor day 2024 Presentation summary

Financial performance and trading update

• Group revenue rose 8.5% to NZ$2.55 billion, with strongest growth in Asia (33.7%) and Australia (19.3%).

• Group PBT declined 9.3% to NZ$158.5 million, with New Zealand and Americas seeing the largest drops.

• Transport revenue up 2.6%, warehousing revenue down 24.8%, air & ocean revenue up 17.9%.

• Capex for FY25 reduced to $233M; $94M spent to August, with $302M undrawn debt facilities.

• Margins require improvement despite sales and volume gains; further improvement expected in H2.

Regional performance and outlook

• Americas: Revenue up 6.2%, but PBT down 32.1%; network expansion and new cross-docks underway.

• Europe: Revenue up 4.4%, PBT up 5.5%; network intensification and new facilities in Netherlands and Romania.

• Australia: Revenue up 19.3%, PBT up 7.6%; network expansion, property projects, and improved warehousing utilization.

• Asia: Revenue up 33.7%, PBT down 9.6%; focus on intra-Asia growth, warehouse utilization, and new opportunities.

• New Zealand: Revenue up 0.2%, PBT down 24.1%; warehousing strong, transport and air & ocean challenged.

Network and property development

• Major expansions in all regions: new cross-docks, warehouses, and branch openings in the US, Europe, Australia, and NZ.

• Significant capex allocated for property and network growth, with focus on efficiency and capacity.