MOV - Move Logistics (formerly TLL)

[Hawkeye]

Im sure we had a thread for these guys somewhere but I cant find it.
Does anyone have any gossip on these bad boys? I purchased some about a year ago, and they have gone up 50% but that was 6months or so ago. Since then they haven't released much news. With other logistic companies doing well right now (bar QEX) I was wondering if anyone had heard anything?

Cheers

[nztx]

Im sure we had a thread for these guys somewhere but I cant find it.
Does anyone have any gossip on these bad boys? I purchased some about a year ago, and they have gone up 50% but that was 6months or so ago. Since then they haven't released much news. With other logistic companies doing well right now (bar QEX) I was wondering if anyone had heard anything?

Cheers


Yep there was another thread .. looks like it's disappeared

TIL do appear a bit on the quiet side on reporting updates, but that may not be bad

Let's hope there's a final div coming up rather than currified again - like the March 21 Interim was .. ;)

probably accounts for SP fall back to a buck with sub $1 approaching..

[flyinglizard]

https://www.nzx.com/announcements/374898


how do you think?

[Snow Leopard]

When I first saw that 20.8% I thought takeover coming...

...then I read on and thought probably not.

[flyinglizard]

Not takeover, but Chris Dunphy is an investment banker and MFT ex managing director. I guess that TLL will soon begin its acquisition journey. I do not think they are going to sell TLL to MFT, but to create another MFT. I cannot wait to do the adjustment of my portfolio.

[ThaiJohn]

$1.18, starting to move along. Something on the boil?

[Leftfield]

$1.18, starting to move along. Something on the boil?

Article in NBR (behind paywall). New major shareholder and Board member reckons that TIL will become a leader in the specialised Hydrogen transport market. (Hydrogen seen as the future for Truck transport industry as EV engines not suited.)

Still not for the faint hearted.... $307 mill in liabilities and $344 mill in assets. FY 20 NP of $2.0 mill v $4.3 FY19 (EPS 2.5 v 4.7)

At current SP P/E is 14.19

Going to be one to watch and possibly huge future potential as NZ/Aus look for clean/green options to shun diesel.

( Disc - don't hold just watching)

[ThaiJohn]

This caught my eye. Ex Mainfreight executive director appointed to the board of TLL. ( also not holding but very interested )

"TLL is also pleased to announce that Chris Dunphy, who is a former executive director of Mainfreight and general manager of Mainfreight’s international division, has been appointed to the TLL board with effect from 1 July 2021. Chris joined Mainfreight in 1993 and helped take it public in 1996. After ten years of senior management roles in Mainfreight, spearheading their global growth-by-acquisition strategy, Chris resigned as executive director in 2003 to pursue private investments in a number of freight, shipping and logistics businesses. TLL Chair Trevor Janes said: “We are delighted to welcome Chris as a director and shareholder of TLL. Chris brings a wealth of knowledge and experience in the transport and logistics industry in New Zealand and Australia to TLL, and we look forward to working with him to continue to grow TLL’s position in the New Zealand marketplace.”

[ThaiJohn]

This caught my eye. Ex Mainfreight executive director appointed to the board of TLL. ( also not holding but very interested )

"TLL is also pleased to announce that Chris Dunphy, who is a former executive director of Mainfreight and general manager of Mainfreight’s international division, has been appointed to the TLL board with effect from 1 July 2021. Chris joined Mainfreight in 1993 and helped take it public in 1996. After ten years of senior management roles in Mainfreight, spearheading their global growth-by-acquisition strategy, Chris resigned as executive director in 2003 to pursue private investments in a number of freight, shipping and logistics businesses. TLL Chair Trevor Janes said: “We are delighted to welcome Chris as a director and shareholder of TLL. Chris brings a wealth of knowledge and experience in the transport and logistics industry in New Zealand and Australia to TLL, and we look forward to working with him to continue to grow TLL’s position in the New Zealand marketplace.”

[flyinglizard]

I bought some yesterday with some spare cash, but it seems the big boy not happy with the 10% jump in price, too aggressive? If the price is going down to $0.95-$1.00, I will buy more and hold for at least 5 years. The half year presentation report says that TLL is looking for acquisition opportunity in Australia, specified in dangerous good sector (page18 & 19). By given Chris Dunphy's previous experience, he is the right person for this. TLL has very high debt ratio, where is the fund coming for acquisition? They just issued $8.2m of mandatory convertible notes in May to repay the bank loan.

Dual listed in ASX to have fund and acquire some Australian freight companies? Similar growth pattern as MFT?

TLL windfarm freight is a cool thing, as we witness all energy companies are actively engaging in this sector, maybe solar farm too.

[Nor]

One comment to the article states that because hydrogen is less energy dense than diesel the current 600 litre tank (about 0.6 cubic metres if my arithmetic is right) would need to be replaced by a 5 cubic metre hydrogen tank for equivalent energy, even at 10,000 psi pressure.
As well as bulky this would probably be enormously heavy even when empty, based on my limited knowledge of gas bottles. And hydrogen is very combustible, nevermind the pressure as well.
Is hydrogen for trucks really just a nice idea but impractical?

[Rowdy Flat]

One comment to the article states that because hydrogen is less energy dense than diesel the current 600 litre tank (about 0.6 cubic metres if my arithmetic is right) would need to be replaced by a 5 cubic metre hydrogen tank for equivalent energy, even at 10,000 psi pressure.
As well as bulky this would probably be enormously heavy even when empty, based on my limited knowledge of gas bottles. And hydrogen is very combustible, nevermind the pressure as well.
Is hydrogen for trucks really just a nice idea but impractical?

https://www.electrive.com/2021/02/18/hiringa-energy-orders-1500-hydrogen-fuel-cell-trucks-from-hyzon-motors-for-new-zealand

[flyinglizard]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TLL/375111/349663.pdf

Anacacia Pty Ltd from OZ

[ThaiJohn]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TLL/375111/349663.pdf

Anacacia Pty Ltd from OZ

Interesting. 6.1%

I'm in @ 112

[Zaphod]

One comment to the article states that because hydrogen is less energy dense than diesel the current 600 litre tank (about 0.6 cubic metres if my arithmetic is right) would need to be replaced by a 5 cubic metre hydrogen tank for equivalent energy, even at 10,000 psi pressure.
As well as bulky this would probably be enormously heavy even when empty, based on my limited knowledge of gas bottles. And hydrogen is very combustible, nevermind the pressure as well.
Is hydrogen for trucks really just a nice idea but impractical?

There is a lot of hype around hydrogen, but there are significant issues that need to be resolved from generation (electrolysis is a slow inefficient and expensive process requiring vast quantities of electricity and water) to storage (hydrogen embrittles metal and readily escapes containment vessels due to its molecular size) to refueling and vehicle supply. Of the 1500 units that have been 'ordered' by Hiringa from Hyzon who have yet to being manufacture of vehicles, I believe five are destined from TIL for trial in the relatively short-term.

There is a niche market for hydrogen at the moment, but it could easily be overtaken by pure BEV's given the market and supply chain is far more mature.

Right now there is one thing for certain: there is one direction for freight costs, as that it up.

[flyinglizard]

I would like to stick to the Australian business expansion or acquisition, it is certain and feasible.

The company register shows that new Chris Dunphy is also a director of Speedmark, which is a big company providing transportation services with over 70 offices world wide. A global top 20 full service logistics provider, according to its website.

I guess that Chris Dunphy may be supported by Speedmark. Otherwise, sort of conflict interests, right? Be director for two different companies within the same industry.


https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/1015212/directors?backurl=H4sIAAAAAAAAAEXLQQrCQAyF4dvMxkV1 4TKIG0XsQrAXCDOxBjqTMUmV3t6KFXf%2F%2B%2BA1FXuyJkqu WHguI9R43z2gO7WrQXo252iBirNP3VTJYN%2B2y746%2BmhHlb F%2BmUsUrQeVDEt3AgFTUjL7vxc40%2FQSTRDMUR3WYeDMDptt sNuM6fN8YomULlhoANeRQpZE8PM384KVQL8AAAA%3D

https://www.speedmark.com/

[Wai Wai]

Governance rejuvination would be helpful

[Rep]

Most hydrogen production is steam reformation from natural gas feedstock as electrolysis is pretty inefficient - that defeats to some extent the emissions profile of using hydrogen as a fuel.

[ThaiJohn]

https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=5727445

[winner69]

https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=5727445

is that good or bad news .... thoughts

[flyinglizard]

https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=5727445

hay! A further $5m call option! I hope that current big shareholders add some performance indicators, like revenue growth rate 30% annual, NPAT growth 20%, sorts of etc, into the documents. That's really good for retail investors.

The company has not released the TIL Logistics Group Shareholder Newsletter yet. hopefully we will receive soon with some good spots.

[ThaiJohn]

Seems to be good by the look of the s/p, especially today.

[flyinglizard]

Just had a dinner with a BP owner. He said that hydrogen definitely is the favorite direction of petrol companies. BP has research on hydrogen for many years, because hydrogen will keep petrol company alive and maintain their sales network. They will replace petrol with hydrogen, the business model changes a bit. The petrol companies have no motivation to push this happen, but well prepared.



There are some problems of having electrical cars.
- disposal of batteries, massive damage to environment
- threw the problem to electricity company, you do not know where the power is coming from, it may from coal, like GNE.
- not suitable for long travelling
- large investment in infrastructure to build recharging equipment in car parks
- time consuming when recharging


hydrogen is made of water, 100% natural. We saw the announcements from CEN and MEL last Friday. Key word : hydrogen

If this will work out in the future, TLL may benefit from the energy revolution in the long run.

[Leftfield]

Thanks for posting lizard..... I've bought a few in recent dips.

[kiora]

There are likely to be other ways of transporting & storing Energy
"LOW-COST
Stores energy at less than 1/10th the cost of lithium-ion battery technology."
https://formenergy.com/technology/battery-technology/

[CROESUS U.T.]

The negative to me with electric power for trucking has always been the weight, (more battery weight - less freight )but this sounds like interesting technology.
from https://www.umsicht.fraunhofer.de/en/projects/iron-air-battery.html
"Reduce battery weight, increase electrode capacity

The scientists at Fraunhofer UMSICHT want to change this. Their goal is an iron-air battery with improved energy density and higher efficiency. To achieve this, they are focusing, for example, on measures to reduce the weight of the battery. This is to be achieved through the development of a multi-cell bipolar stack using novel lightweight and cost-effective graphite bipolar plates."

[kiora]

Concur C
The Formenergy one I was referring to could be useful for grid storage though

[flyinglizard]

very interesting announcements today.

https://www.nzx.com/announcements/376279

Mark Newman as an independent director, effective from today, 27 July 2021. Mark has extensive domestic and international transport and logistics industry expertise, having held senior leadership roles with Mainfreight for over 20 years, as CEO Mainfreight Europe and General Manager New Zealand Transport.



https://www.nzx.com/announcements/376280

• Confirmation that the company is on track to achieve FY21 guidance of EBITDA to be at least that of the FY20 post IFRS-16 result of $57.4m
• Progress is being made on improvement initiatives, particularly in Freight.
• FY21 reported profit will reflect increased property costs associated with the expanded warehousing footprint and the improvement programme, and costs associated with a discontinued IT project. Including these non-trading adjustments, the company is expecting a modest profit for FY21.

[Leftfield]

very interesting announcements today.

https://www.nzx.com/announcements/376279

Mark Newman as an independent director, effective from today, 27 July 2021. Mark has extensive domestic and international transport and logistics industry expertise, having held senior leadership roles with Mainfreight for over 20 years, as CEO Mainfreight Europe and General Manager New Zealand Transport.



https://www.nzx.com/announcements/376280

• Confirmation that the company is on track to achieve FY21 guidance of EBITDA to be at least that of the FY20 post IFRS-16 result of $57.4m
• Progress is being made on improvement initiatives, particularly in Freight.
• FY21 reported profit will reflect increased property costs associated with the expanded warehousing footprint and the improvement programme, and costs associated with a discontinued IT project. Including these non-trading adjustments, the company is expecting a modest profit for FY21.


Clearly a company in transition. Interesting to watch this unfold. GLH.

[Benny1]

Just had a look at their website and noticed there has been a company wide re-brand to "Move Logistics"
Haven't seen any NZX announcements about this?
Are they changing their ticker on the NZX?

[ThaiJohn]

Just had a look at their website and noticed there has been a company wide re-brand to "Move Logistics"
Haven't seen any NZX announcements about this?
Are they changing their ticker on the NZX?

Yep. August 4th

http://business.scoop.co.nz/2021/07/27/til-logistics-group-to-move-ahead-with-new-name/

[flyinglizard]

https://www.nzx.com/announcements/376289

Name change, MOVE, nice name.

Market Cap is only $114m today. New board, new management team, new name, Let us move from here

[Ggcc]

https://www.nzx.com/announcements/376289

Name change, MOVE, nice name.

Market Cap is only $114m today. New board, new management team, new name, Let us move from here
Well from the other TIL thread, the guy I knew who owns over 900,000 shares in HGH has mentioned to me I told you it was a good company. He had been backing up the truck at under a $1 and has accumulated lots. He told me the enterprise value was already at roughly $2.

[flyinglizard]

https://www.nzx.com/announcements/376353


Trading Code will change to MOV on 4th of Aug. Even a new trading code........

[nztx]

Nice bit of publicity .. bouncy up again today too .. ;)

to be honest - not too much with any sort of forward prospects under the buck & half
on NZX boards, that isn't in the northern end of fully or overpriced .. ;)

[flyinglizard]

Nice bit of publicity .. bouncy up again today too .. ;)

to be honest - not too much with any sort of forward prospects under the buck & half
on NZX boards, that isn't in the northern end of fully or overpriced .. ;)

Look at today MFT announcement, and today's gainers top 1 & 2 at NZX are both from the same industry, logistics. FRE up 2.7% today. The upward trend should keep going. MFT will reach $100, FRE to $15, TLL to $2 soon hopefully.

[Leftfield]

Look at today MFT announcement, and today's gainers top 1 & 2 at NZX are both from the same industry, logistics. FRE up 2.7% today. The upward trend should keep going. MFT will reach $100, FRE to $15, TLL to $2 soon hopefully.

Crikey, I should have bought more!. Up 15% already on my DCA. Top of the leader board again. Naaaice.

[flyinglizard]

Crikey, I should have bought more!. Up 15% already on my DCA. Top of the leader board again. Naaaice.

Both the market cap and share liquidity are improving, NZX smallcap or medium cap fund managers may worth looking at TLL now. It is the only logistic company apart from NZX50 companies (QEX is dead). They have to diversify their portfolio hopefully.

[kiwi_crusader]

https://www.stuff.co.nz/business/125875023/new-til-team-aims-to-inject-transport-company-with-mainfreight-magic?fbclid=IwAR3bOx4_3YRRnUNlH-3ZjI4_F5qxwUT0MXQBwFVIc0pPmQosUDSVEGEestU

Wow, What a few weeks! MOVe sure has been all the talk on social media freight transport pages this week. Lets hope they do increase the margins and we see some good dividends coming our way.

[flyinglizard]

https://www.stuff.co.nz/business/125875023/new-til-team-aims-to-inject-transport-company-with-mainfreight-magic?fbclid=IwAR3bOx4_3YRRnUNlH-3ZjI4_F5qxwUT0MXQBwFVIc0pPmQosUDSVEGEestU

Wow, What a few weeks! MOVe sure has been all the talk on social media freight transport pages this week. Lets hope they do increase the margins and we see some good dividends coming our way.


That is a smart strategy when rebranding. Get continuous top 1 gainer at NZX, media talk, company announcements, making noise as much as you can to attract attention. Let people know the company's new name, shareholders and lenders are happy too.

I am surprised that Dunphy was a truck driver and Newman was Mainfreight cleaner and truck painter, and both of them had degree later on. They started from the bottom and must know the problems and how to fix it. I believe current market cap of $127m is just starting point, not the end.

[CROESUS U.T.]

[QUOTE=flyinglizard;897355 I am surprised that Dunphy was a truck driver and Newman was Mainfreight cleaner and truck painter, and both of them had degree later on. They started from the bottom and must know the problems and how to fix it. .[/QUOTE]
The way I read the article Dunphy was a student who funded his studies by working as a driver. Plested recognised the potential talent in a guy who was cleaning. As an aside, Neil Graham the marketing guru who was one of Mainfreight's founders, started as a driver's assistant.

I welcome the changes to MOVE and will be interested to see how the new guys steer it into becoming a true multi-national freight company, or whether it stays primarily as a trucking company.

[Ggcc]

The way I read the article Dunphy was a student who funded his studies by working as a driver. Plested recognised the potential talent in a guy who was cleaning. As an aside, Neil Graham the marketing guru who was one of Mainfreight's founders, started as a driver's assistant.

I welcome the changes to MOVE and will be interested to see how the new guys steer it into becoming a true multi-national freight company, or whether it stays primarily as a trucking company.
They have indicated to cull the loss making runs asap. I never understood why people would tender for a contract at a loss, just to get the work.

[Timesurfer]

They need to cull the local managers with the crap culture that they bring to the table or they are going nowhere.

[nztx]

Its interesting watching this one MOVE onwards & upwards ;)

[Leftfield]

They need to cull the local managers with the crap culture that they bring to the table or they are going nowhere.

Its interesting watching this one MOVE onwards & upwards ;)

One CEO gone, the message has been sent. My only negative with TLL/MOV is that holders could be getting groomed for a cap raise...... otherwise there is a lot to like about the progress being made in such a short time. Onwards and upwards (but only 2% of my portfolio, so early days for me.) GLH.

[blu3]

From my superficial understanding, Covid-19 contributed to:


drive e-commerce up.
a substantial increase in freighting costs[1].


Both of which would, I assume, contribute to the growth that we're currently seeing across the logistic industry.

That's great but I wonder... what will happen post-Covid?

The e-commerce sector is expected to keep growing, at least in comparison to pre-Covid's level, but will the demand remain at the current levels right after Covid? What about the freighting costs? Wouldn't a decrease in either have a negative impact in the growth of freight companies?

Another question that I have is: the addition of Chris Dunphy and Mark Newman sounds like a great news for the company but I am not too sure how such a company would manage to chip away at DHL and Mainfreight's market—wouldn't their customer base remain loyal to these unless they lose their competitive edge? Would the transition to hydrogen fuel—if it succeeds—help to reduce freighting costs?

Sorry if I'm missing the obvious with these questions, I'm absolutely newbie to this industry :(


[1]: a company that I know of ships internationally the goods that they make as their main line of business. Here are the ocean freight costs that they've taken note of:

NZ to Europe (40 feet container):

$1,200 USD in May 2020.
$10,000 USD in May 2021.
$16,000 USD in July 2021.


China to U.S. (40 feet container):

$3,600 USD in May 2020.
$10,000 USD in May 2021.
$18,000 USD in July 2021.





PS: for those of you looking for the old thread, it's still here: https://www.sharetrader.co.nz/showthread.php?10751-TLL-TIL-Logisitics-Group-was-BIL-Bethunes-Investments

[flyinglizard]

From my superficial understanding, Covid-19 contributed to:


drive e-commerce up.
a substantial increase in freighting costs[1].


Both of which would, I assume, contribute to the growth that we're currently seeing across the logistic industry.

That's great but I wonder... what will happen post-Covid?

The e-commerce sector is expected to keep growing, at least in comparison to pre-Covid's level, but will the demand remain at the current levels right after Covid? What about the freighting costs? Wouldn't a decrease in either have a negative impact in the growth of freight companies?

Another question that I have is: the addition of Chris Dunphy and Mark Newman sounds like a great news for the company but I am not too sure how such a company would manage to chip away at DHL and Mainfreight's market—wouldn't their customer base remain loyal to these unless they lose their competitive edge? Would the transition to hydrogen fuel—if it succeeds—help to reduce freighting costs?

Sorry if I'm missing the obvious with these questions, I'm absolutely newbie to this industry :(


[1]: a company that I know of ships internationally the goods that they make as their main line of business. Here are the ocean freight costs that they've taken note of:

NZ to Europe (40 feet container):

$1,200 USD in May 2020.
$10,000 USD in May 2021.
$16,000 USD in July 2021.


China to U.S. (40 feet container):

$3,600 USD in May 2020.
$10,000 USD in May 2021.
$18,000 USD in July 2021.





PS: for those of you looking for the old thread, it's still here: https://www.sharetrader.co.nz/showthread.php?10751-TLL-TIL-Logisitics-Group-was-BIL-Bethunes-Investments

TLL has tiny international market in the annual report, can be ignored. It mainly focus on NZ domestic market.
MFT achieved amazing result under such high shipping cost environment. TLL shouldn't have problem with international shipping cost.

[CROESUS U.T.]

blu3 said "I am not too sure how such a company would manage to chip away at DHL and Mainfreight's market—wouldn't their customer base remain loyal to these unless they lose their competitive edge?"

Traditionally they are in different market sectors. MOVE/TLL owned and operated trucks and predominantly moved large loads. Mainfreight were an aggregator of small lots, who from memory owned about one truck, they mainly used agents until they grew their business in an area sufficiently enough to put up a warehouse employ their own stores and sales people and use their own subbies.
If MOVE/TLL can transition to larger volumes of "smalls" they could prove competitive and reduce the extremely healthy margins that MF currently enjoy.

[Ggcc]

Looks like a pump dump or a pump and takeover or pump and spp to me

[Getty]

TLL has tiny international market in the annual report, can be ignored. It mainly focus on NZ domestic market.
MFT achieved amazing result under such high shipping cost environment. TLL shouldn't have problem with international shipping cost.

Move have significant warehousing capacity in Hawkes Bay, and have a huge new one with associated yard space, nearing completion.

Shipping delays should work in their favour, as exporters have to stockpile, and importers/ manufacturers have to carry a buffer of inventory to smooth out production, and it has to be stored somewhere, that somewhere being Move's facilities.

[sb9]

Looks like a pump dump or a pump and takeover or pump and spp to me

Looks like pump for cap raise to me as well, as they had about $18.27ml COH as at end of Dec 20 as per HY cash flow statement.

[Leftfield]

So some consensus on the possibility of a cap raise it seems.

Much depends on the terms, possible dilution and the justification given.

For example, if it takes place around $1.90..... some holders with a materially lower DCA and will be rather 'well positioned.' Time will tell.

[flyinglizard]

agree with the above new cap raise guess. new warehouse means more trucks, TLL owns all the trucks. need cash to do business expansion or acquisition if any. Institutions happy to take the new shares, coz they cannot get any decent volume from the market, company happy to see the SP raise, that means less new share they are going to issue, shareholders are happy with $$$$.

from its own website, it seems that they need lots of new employees since July.......

https://www.movelogistics.com/careers/positions

[nztx]

A bit of a shame when a name / branding change is made & the best Short Domain you have is a Dot.NET.NZ:

https://coys.co.nz/:entity?no=588873&nzbn=9429038845833&name=MOVE+FREIGHT+LIMITED

and then nobody has woken up to updating the Registrant Company's name:

https://1stdomains.nz/info/whois_query.php


domain_name: move.net.nz

registrant_name: Hooker Bros Holdings Ltd
registrant_contact_address1: 330 Devon Street East

but there's always a longer longer dot.com:

MOVE LOGISTICS . COM

https://www.movelogistics.com/investors/latest-news

Nothing international planned ? ;)

Spose best not to confuse the Custies & others any further with trying
to MOVE url some more .. ;)

Nothing or something on the Aussie domain registry could be shaken loose instead or possibly not ?
Aussie names however have their own conditions for registering though.. many will be aware of.

Perhaps a bit of encouragement thrown at pertinent NZ domain holders could be cheaper
to perfect the incomplete rebranding job ? ;)

As anyone can guess a few of the perils of trying to rebrand to a popular well fenced out WORD
every man & his dog have taken a liking to for decades for a variety of online uses .. ;)

[Leftfield]

Crikey, $1.90 today, up 20c.....knocking on the door of $2.00.

[nztx]

touched 1.93 today

just slightly more than 87.0 m shares on issue

must have a look at last Share / Register reports to get an idea on how many free shares
not locked up with the major campers

[flyinglizard]

It seems that MFT will lead the market tomorrow. :):t_up:

A big day for TLL tomorrow, changing the trading code from TLL to MOV. :t_up:

[Ggcc]

Looks like a pump dump or a pump and takeover or pump and spp to me

It now looks like a pump and dump to me

[Sampan]

It now looks like a pump and dump to me

Im not sure about that. Volumes on the way up were very healthy. Volumes on the way back been very light. Id say you will see buy side consolidation occurring again soon

[Ggcc]

Im not sure about that. Volumes on the way up were very healthy. Volumes on the way back been very light. Id say you will see buy side consolidation occurring again soon
Im out for now as I sold to buy a house. I do believe in the longterm for this company. A friend who still owns more than 150,000 shares in this. He backed the truck at under $1

[Sampan]

Yeah its an interesting one Ggcc. A tightly held company with high debt levels but a decent plan. Will be volatile times ahead for the SP but, like you, I believe in this one.

[flyinglizard]

I am still holding with confidence in the long run. Hope most of traders are shaking out by today's volatility. Waiting for the annual report announcement. Or if the company has the new placement plan, that is a good news.

[nztx]

Im out for now as I sold to buy a house. I do believe in the longterm for this company. A friend who still owns more than 150,000 shares in this. He backed the truck at under $1



Me too .. out last week, when things started looking like they stalling .. ;)

[kiwi_crusader]

Would purchase of Straight Shipping/Bluebridge Ferries from CPE Capital be a good fit into MOVe Logistics group?

[Leftfield]

Hitting an all time high today.......

Transport and Logistics getting very interesting attention. Onwards and upwards.

[silverblizzard888]

One of the few companies on the market that I quite like, especially bringing on the two Mainfreight boys. This could end up being a stellar of a company to buy into. Loving the direction of the company so far, plenty of potential so going forward. Will have to see how the results are tomorrow and the comments by management. Bought some for a bottom draw.

[whatsup]

Hitting an all time high today.......

Transport and Logistics getting very interesting attention. Onwards and upwards.

NO ath was $1.93 3 weeks ago.

[CROESUS U.T.]

Would purchase of Straight Shipping/Bluebridge Ferries from CPE Capital be a good fit into MOVe Logistics group?
Don't think so, as currently they have the choice of two ferry providers, who presumably compete to get their business. My feeling is that they will move to a greater mix of owner drivers to reduce their costs and make them more competitive with MF.

[Getty]

FY 2021.

Insufficient horsepower, overloaded, brakes left on.

[Sampan]

Yes, I tend to agree. Have been buying this stock but am left a little underwhelmed at that. There is definitely some good news/good intentions but there also remains many variables. It is a razor thin margin industry and ability to pass costs on may not be as easy as they are suggesting. Add to that wage pressure and an 'acute' shortage of drivers and there is just a little too much downside risk given the recent run up in SP

[sb9]

Yes, I tend to agree. Have been buying this stock but am left a little underwhelmed at that. There is definitely some good news/good intentions but there also remains many variables. It is a razor thin margin industry and ability to pass costs on may not be as easy as they are suggesting. Add to that wage pressure and an 'acute' shortage of drivers and there is just a little too much downside risk given the recent run up in SP

Yeah bit underwhelming going by sp surge over past few days into results day.

[ThaiJohn]

Looks ok.
https://www.nzx.com/announcements/377957

[Sampan]

If by ok you mean 'ho hum' or ' could do better' then you are right. It certainly doesn't warrant the recent SP run, thats for certain. That said, I think the longer term prospects are probably rather positive on balance as long as the risks they speak of do not materialise to any great degree (but that is very uncertain...inflation/wage pressure/labour shortages/Covid/further supply chain issues/interest rate increases/leasing constraints)

[Getty]

$353M of revenue is a lot of money to churn over, just to produce less than $1M Npat.

Compare that to SDL, just $35M rev to yield $2+M Npat.

As transport insiders say, " we are just busy fools".

[Leftfield]

Yeah bit underwhelming going by sp surge over past few days into results day.


If by ok you mean 'ho hum' or ' could do better' then you are right. It certainly doesn't warrant the recent SP run, thats for certain. That said, I think the longer term prospects are probably rather positive ..

I wasn't expecting too much at this stage and wasn't buying at the recent highs. Happy to continue holding at a DCA well below the current SP. This is a company in transition.

[Sampan]

I agree Left Field. I wouldnt be buying the stock at current pricing on that announcement. Happy to remain a holder at average buy in of around $1.30

[sb9]

I wasn't expecting too much at this stage and wasn't buying at the recent highs. Happy to continue holding at a DCA well below the current SP. This is a company in transition.

Agreed, my comments were more around too much hype being built into sp prior to FY results. Its on my radar and would be keen to dip in my toes if and when price comes down more realistic levels.

[ThaiJohn]

Looks ok.
https://www.nzx.com/announcements/377957

Sorry, I should have been a bit more specific. Yes, OK as in ho hum. Still holding, jumped in @ 1.18

[silverblizzard888]

Average results, but very encouraged by the CEO and areas targeted for improvement.

[Sampan]

As evidenced by the release to the NZX this a.m, this current outbreak is really showing the glaring difference between the likes of MFT and MOV. I still like the MOV story, longer term, but there is some real headwinds to get through first. A company with such high debt levels cannot afford sustained drops in revenue

[nztx]

As evidenced by the release to the NZX this a.m, this current outbreak is really showing the glaring difference between the likes of MFT and MOV. I still like the MOV story, longer term, but there is some real headwinds to get through first. A company with such high debt levels cannot afford sustained drops in revenue


Thoughts of a restoration of divvy look like they may have been pushed out further ? ;)

Will there be a Cap Raise ?

[kiora]

I'll support a bit
https://stocknessmonster.com/announcements/mov.nzx-381604/

[nztx]

I'll support a bit
https://stocknessmonster.com/announcements/mov.nzx-381604/


Aha - A 1 for 3.06 CAP Raise now.. ;)

Been on the suspected potential "Sure the Ship Up" future plans for a while now ;)

Oh well .. new captains at the helm, navigated the dangerous Covid infected lock-down waters
with a few scratches & dings (but no dividends lost or thrown overboard)

perhaps the next rungs up the ladder might be within reach now aided by a fresh dallop
of stakeholder's ca$h thrown at the job ? ;)

[kizame]

With the new mainfreight people on board now, things are starting to change, from a mish mash of trucking firms to a more cohesive transport company. You knew which companies they owned but there was no branding.
Now they are rebranding as MOVE in the repainting of trucks, and it looks good, and whether this is a a coincidence or not MFT share price coming off the boil whilst move coming to life.

[nztx]

https://www.nzherald.co.nz/nz/pigs-die-following-crash-between-truck-and-train-in-levin/EP2O6SDJNQVV2HS45ANNZJGAKQ/

Oops .. can't have MOVED fast enough out the way of Kiwi Rail's prime mover .. ;)

[winner69]

Ethics / morality ….I assume Move shareholders admire one of your top execs for "gaming the system". IMHO just because you can doesn't mean you should... 'Border-busting boss 'runs the red light' into NZ without MIQ voucher'

I’m not a Move shareholder so my view is biased.

https://www.newsroom.co.nz/border-busting-boss-chris-knuth-slips-into-nz-without-miq-voucher

[winner69]

And that Exec should be fired. From Move’s Code of Ethics -


(b) act honestly and with personal integrity in all their actions;
(c) not behave in a manner that has the potential to bring MOVE Logistics into disrepute;


Health & Safety not an issue at MOVE ….probably don’t even check drivers logs etc

[percy]

And that Exec should be fired. From Move’s Code of Ethics -


(b) act honestly and with personal integrity in all their actions;
(c) not behave in a manner that has the potential to bring MOVE Logistics into disrepute;


Health & Safety not an issue at MOVE ….probably don’t even check drivers logs etc

If you had read the book "Ready,Fire,Aim" the Mainfreight story by Keith Davies ,you would realize Chris Knuth has the right attributes to run a successful logistics business.

[winner69]

If you had read the book "Ready,Fire,Aim" the Mainfreight story by Keith Davies ,you would realize Chris Knuth has the right attributes to run a successful logistics business.


Probably right …..but Chris needs to have a word to him reminding him that sometimes things don’t too.good in the public eyes …ie reputation

[percy]

Probably right …..but Chris needs to have a word to him reminding him that sometimes things don’t too.good in the public eyes …ie reputation


I think all the businesses suffering the huge current logistics issues will be saying "he's the boy for us".
Will see Move is a customer focussed business.

[Benny1]

While I am not one to condone these sort of actions, apart of me says good on him!
It is a tried and true way of getting around MIQ, with other returnee's having done this before.

I like the bit a the bottom of the article mentioning Chris Dunphy off to the US to negotiate the purchase of a vessel.
They certainly will be moving ocean's quite literally in the not too distant future. ( well sea's at least!)

[winner69]

Have to admire his dedication to the job though ….do everything you have to get the job done ……. even if a bit dodgy

[Benny1]

Have to admire his dedication to the job though ….do everything you have to get the job done ……. even if a bit dodgy
Exactly got to give him credit for that!

[Goose]

Ethics / morality ….I assume Move shareholders admire one of your top execs for "gaming the system". IMHO just because you can doesn't mean you should... 'Border-busting boss 'runs the red light' into NZ without MIQ voucher'

I’m not a Move shareholder so my view is biased.

https://www.newsroom.co.nz/border-busting-boss-chris-knuth-slips-into-nz-without-miq-voucher

Hey Winner, I like your involvement with this forum. Can't agree with you on this one...is he gaming the system or has the system been gaming him/us? The ethics/morality of our government's treatment of citizens returning from overseas is also being questioned by many so it is simply a matter of opinion. Sure, he knew exactly what he was doing, but I note that he hasn't been charged by the Police so hasn't done anything illegal. I would say he has successfully solved a logistical problem...I might even say he has the kind of thinking that is well suited to growing a freight and logistics business in a difficult climate. His actions seem to reflect the growing frustration amongst people who are normally fully law-abiding citizens.

[Ricky-bobby]

I have recently bought in. These are the actions of someone who wants to get things done. As a shareholder I can’t argue with this as his sole prerogative will be to get a result for the shareholders. Frankly I’m sick of the PC, can’t do anything world we have created. I find this refreshing.

[Sideshow Bob]

MOVE LOGISTICS FY22 INTERIM RESULTS - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/387622)

Transport and logistics group, MOVE Logistics Group Limited (NZX: MOV), has reported its unaudited results for the six months to 31 December 2021 (1H22), as it completes the first three months of a two-year plan to stabilise and grow the business.

The financial results reflect the impact of the COVID lockdown and regional restrictions in New Zealand from August to December 2021. In particular, fuel deliveries decreased significantly during the first quarter impacting on MOVE’s Fuel business, and several large infrastructure projects were deferred or put on hold which affected MOVE’s Specialist division. A positive recovery has been seen in Quarter 2 and is expected to continue into the second half of the financial year.

The company is focused on margin improvement and is targeting sectors which meet margin and value criteria. Customer retention has been strong with a company-wide rate review now well underway. Excluding clients on fixed contracts, MOVE is seeking to improve its operating margins and shed underperforming business.
The results also include costs involved in restructuring and resetting the business as part of the strategic plan, as well as inflationary pressure. As signalled at the November 2021 ASM, MOVE has sought to restructure the business along functional lines. This restructure has resulted in a number of one-off costs being incurred, relating to employee and fixed asset costs. A number of legacy activities in the company are being addressed in relation to their fit with the new business model.
MOVE operates through four divisions, with the Freight and Contract Logistics divisions together providing 94% of revenue and 93% of EBITDA. Specialist and International make up the remainder of revenue and earnings.

Revenue for the six months was $183.3m, up slightly on the prior comparative period (pcp), with a strong recovery being seen from the second quarter following the August/September lockdown.

EBITDA before non trading costs was down 12.8% to $28.7m with positive gains in Freight and International offset by the impact of COVID on the Fuel (Contract Logistics) and Specialist businesses as detailed above. The comparative prior first half year also benefited from a large windfarm project and a positive contract resolution. The company reported a net loss after tax (NLAT) of $(1.4)m for the six months. Excluding non-trading costs, the NLAT was $(0.8)m.

A $40m capital raise was successfully completed during the period, introducing new shareholders to the register, including a number of Australian investors, and enabling a reduction in net debt to $14.5m.

Strategic Progress

The Board and leadership of MOVE were refreshed in mid-2021 and experienced transport and logistics sector executive, Chris Dunphy, took up the role of Executive Director. A comprehensive business review has been completed with key priorities identified to drive improvement and growth of the business, particularly in Freight and Contract Logistics.

In particular, the focus is on margin improvement, asset utilisation and profitability, with a range of initiatives in place to increase total earnings and lift margins. These include:

• Technology driven operating efficiencies, including the planned implementation of a new Transport Management System.
• Customer acquisition and identification of desirable customer and sector opportunities.
• Further cross-selling MOVE’s range of services.
• Improved utilisation of assets, including network optimisation and ongoing conversion to a low asset model.
• Commenced strategy to convert more of MOVE’s fleet to leased trucks and grow the percentage of owner-drivers contracted to the company.
• Continue to adopt multi-modal approach as part of customer solutions. MOVE Oceans’ first chartered coastal vessel, is expected to be delivered to New Zealand in 4Q22. MOVE’s strong Freight branch network, coupled with supply issues in obtaining rail space, make coastal shipping a key part of the ‘MOVE-forward’ strategy.

The leadership team has been strengthened with new COOs for the Freight and Contract Logistics businesses appointed in the later part of 2021, the recruitment of a new CIO in early 2022 and a number of other experienced and talented people recruited into the business.

Health and safety remains a priority across the Group with a continued improvement in safety metrics.

Capital expenditure is expected to increase as the company invests into technology, particularly the new Transport Management System and a primarily leased fleet replacement programme over the next two years. In line with this and its Environmental aspirations, MOVE has placed an order for two hydrogen fuelled trucks for delivery mid-2022 and will be one of the first transport businesses in New Zealand to have these hydrogen trucks in its fleet.

Outlook

Sector and economic headwinds are expected to continue into the second half of the financial year. COVID pressures remain, with disruptions expected as Omicron spreads, including on the supply chain in New Zealand and the labour force. Significant planning has been undertaken to mitigate disruptions to MOVE and the critical services it provides, with access to Rapid Antigen Tests and a testing programme in place for essential workers.

High inflationary pressure and rising interest rates are also expected. MOVE will raise freight rates to offset increasing costs wherever possible. Driver shortages are becoming more acute and it is hoped that the loosening of border restrictions will enable more skilled drivers to enter the country.
With a comprehensive business review now complete, the company is moving ahead with a clear two-year strategic plan to improve margins and grow the business.
The positive recovery seen in Quarter 2 is expected to continue into the second half of the financial year, with initiatives positioning the company to take advantage of market opportunities.

Although there continues to be uncertainties as noted above the company confirms that it expects FY22 performance to be broadly in line with FY21.
ENDS

[sb9]

Wow just looked through chart, trading at 1.15 currently against the last year cap raise price of 1.40 and also noticed retail shortfall picked up at 1.74. Hmmm, wonder who're sellers at current level..

[nztx]

Wow just looked through chart, trading at 1.15 currently against the last year cap raise price of 1.40 and also noticed retail shortfall picked up at 1.74. Hmmm, wonder who're sellers at current level..


it seems to be moving .. down to the levels before the last shuffle of the Boardroom seats ;)

The days of a $1.95 SP appear to be long gone .. meanwhile MFT continue to charge ahead..
what happened to all the envisaged aspirations with Ex MFT guys jumping on board MOV ? ;)

these things seem to happen when the hot air evaporates a bit and perceived upswing in fortunes
don't after a while materialise in the eyes of the stakeholders :)

Will things move south of a buck ? ;)

Dare I suggest, but ALF's fortunes may appear more exciting than MOV's unless things rapidly change ;)

Maybe MFT might be interested in swallowing up MOV to add to their larger empire ? ;)

[sb9]

Who knows, but as per recent disclosure notices Dunphy bought decent chunk on market and so does couple of big boys. Surely gotta have some value around current level.

[sb9]

Showing signs that worm may have turned, need good volume to break through 1.20 resistance level.

[sb9]

Couple of big crossings this arvo, hopefully have cleared that nagging seller.



125
1,499,249
13:47
SP


125
500,000
12:36
SP

[nztx]

Showing signs that worm may have turned, need good volume to break through 1.20 resistance level.


stakeholders might like to see a bit of a turn up in the Div record .. the launch off board managed quite a few fragments and the Covid excuse can't continue forever without questions on why things aren't being majorly retuned :)

Let's face it MFT dont appear to have too many issues around lingering Covid - was the fix-it manual left in the
former's offices ? ;)

[sb9]

stakeholders might like to see a bit of a turn up in the Div record .. the launch off board managed quite a few fragments and the Covid excuse can't continue forever without questions on why things aren't being majorly retuned :)

Let's face it MFT dont appear to have too many issues around lingering Covid - was the fix-it manual left in the
former's offices ? ;)

One would hope so.

In the meantime sp moooving along nicely today, that pesky seller surely got taken out. Thanks to them for filling my order at 1.15 few weeks back.

[Maxtrade]

One would hope so.

In the meantime sp moooving along nicely today, that pesky seller surely got taken out. Thanks to them for filling my order at 1.15 few weeks back.

Haven't been following this share. Can someone quickly elaborate on the fact that it looks like this share has been on an extreme long term downtrend from over $400 per share over the last 10 years. Basically eroding away from $400 per share all the way down to $1 per share. Has something changed which would make this company more attractive now? Longterm shareholders must be quite dismayed at this stocks decline

[Sideshow Bob]

Haven't been following this share. Can someone quickly elaborate on the fact that it looks like this share has been on an extreme long term downtrend from over $400 per share over the last 10 years. Basically eroding away from $400 per share all the way down to $1 per share. Has something changed which would make this company more attractive now? Longterm shareholders must be quite dismayed at this stocks decline

$400 was pre-MOV. Only listed since December 2017, following a reverse listing with Bethunes Investments - NZX, New Zealand’s Exchange (https://www.nzx.com/companies/MOV/analysis)

[nztx]

still a long way to go to reach the lowly 'post reverse out deal' levels of 60-75c ;)

and that was with a few dividend fragments being tossed out too :)

How many of the original Transport Outfit shareholders have managed to liquidate some or
all of their holdings since those days at up to the lofty $1.50 + levels ? ;)

[Maxtrade]

still a long way to go to reach the lowly 'post reverse out deal' levels of 60-75c ;)

and that was with a few dividend fragments being tossed out too :)

How many of the original Transport Outfit shareholders have managed to liquidate some or
all of their holdings since those days at up to the lofty $1.50 + levels ? ;)

Good, bad or no difference the dual listing on the ASX?

[sb9]

Good, bad or no difference the dual listing on the ASX?

With NAOS recently becoming SSH and holding 8.38% as at 8th Apr, its imperative they would seek a listing on ASX to cast wider net of Instos and other investors.

[nztx]

Hey Aussies - here's the NZ equivalent of Brambles Transport & cheap at twice the price ;)

The bottom line is a MOVING Work in Progress which stubbornly hasn't moved much ;)

Those Kiwi's haven't woken up to the way it MOVES yet :)

[winner69]

So ‘broadly in line with last year’ is actually about 10% less than last year

Suppose this is a profit downgrade then

And with all those extra shares EPS down even more

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MOV/391346/369675.pdf

[winner69]

Guidance FY22 EBITDA is $53m to $56m - that's about 10% less than FY21

That implies a full year LOSS or maybe a tiny profit

Second half EBITDA will be about 20% less than expected if previous guidance of 'broadly in line with last year' means is about the same. H2 financial performance worse than H1

That's some profit downgrade v expectations

Suppose it's still a case of believe the story .... all hunky dory and on track to wherever they are heading.

[Rawz]

TLL was a dog of a company.. MOV was never going to be a success over night thanks to a couple of ex Mainfreight people..

[nztx]

SP dropping like a stone, possibly still grossly overvalued at anything over 50-60c
unless MOV can find some white rabbits in a hidden hat somewhere IMO ;)

Wonder if TOLL would be interesting in executing a T/O @ 1.00 a share ? ;)

[winner69]

SP dropping like a stone, possibly still grossly overvalued at anything over 50-60c
unless MOV can find some white rabbits in a hidden hat somewhere IMO ;)

Wonder if TOLL would be interesting in executing a T/O @ 1.00 a share ? ;)

After that guidance update the other day share price heading back to that 50c/60c mark

Down 20% last week or so to 94 cents

[nztx]

After that guidance update the other day share price heading back to that 50c/60c mark

Down 20% last week or so to 94 cents


Glad I moved (out) a very long time ago on this one ;)

Any large Intangibles under the hood which need a bit of downsizing soon ? ;)

Thought I caught a sniff of a large quantity of these lurking out back a while back ;)

Perhaps they were just the Amalgamation kind, like when the balloon is over inflated
to use all the material on the deck, but someone has perhaps forgotten to uninflate
after the stitching together process is done ? ;)

And then there might be another pile of expensive wheeled plant on tick which has only come
in on the books because the beancounters think the fully inflated Asset and Liability
look far more attractive than showing a nasty once a month out the door lease expense.

Has anyone asked how much of the Audit fee relates to checking on the said items
that appear owned but not really and their attached notional attached monkey so
both look in accordance with the latest fangdangled international beancounter
deliberations and loud screechings from the tallest monkeys ? ;)

All said and done, these borrowed items of plant are rumoured to have tendency to run away
real fast at first sign of the slightest trouble around the CFO's coffee maker .. ;)

[winner69]

Wow - a 35 year veteran and recent Mainfreight country manager to take as CEO of Move

Some hire

https://www.nzx.com/announcements/403869

[Southern Lad]

Given the Cook Strait shipping woes of both Bluebridge and The Interislander, it's a pity Move's new coastal shipping operation is (I assume) not up and running yet. The vulnerability of the supply chain given the dependence on the current operators does indicate that they may be a market segment waiting to be exploited.

Assume the half year announcement from Move is due any day (released 22 Feb last year). Will be interesting to see an update on the shipping plans.

[winner69]

MOV share price below 80 cents …lowest since they became Move I think

Was surprised share price once got over $1.30

Results soon …could be interesting

[Dlownz]

MOV share price below 80 cents …lowest since they became Move I think

Was surprised share price once got over $1.30

Results soon …could be interesting

Hey Winner
I've got these guys on my watchlist
Since they rebranded I've noticed alot more of their trucks on the road. I never did before the rebranding. I think they could be a good turnaround story but I'm kinda hoping we see a drop down to 55 cents and the rise not coming till next year.

[Sideshow Bob]

https://www.nzx.com/announcements/417319

CONTINUING TO RESHAPE AND STRENGTHEN THE BUSINESS TO SUPPORT GROWTH
• FY23 revenue of $347.7m and Normalised EBITDA1 of $47.4m reflects investment in future growthinitiatives, moderating consumer demand in response to economic conditions, the ongoing Freightimprovement programme and weather events.
• Investment in future growth includes new trans-Tasman shipping service, fleet upgrade, technology andtalented people.
• New CEO commenced in February 2023 - indepth business review completed and legacy issues are beingaddressed.
• Initiation of Project Blueprint in Q423, a 12 to 18 month dual pathway programme to reshape andstrengthen the business, and drive organic growth.

[winner69]

The ex long time Mainfreight man will fix them up …no worries

Like this bit. Maybe Mainfreight not focussed enough -

Craig said: “Businesses are telling us they want a strong alternative in the market; a provider who is focused on New Zealand customers, with a breadth of product and service capability, and who can move quickly to deliver a solution that is tailored to their needs. MOVE is well positioned to meet their expectations. We remain committed to delivering exceptional value to our customers, nurturing our talented team, and ensuring the long-term success and prosperity of our company.”

[kiwikeith]

https://www.nzx.com/announcements/417319

CONTINUING TO RESHAPE AND STRENGTHEN THE BUSINESS TO SUPPORT GROWTH
• FY23 revenue of $347.7m and Normalised EBITDA1 of $47.4m reflects investment in future growthinitiatives, moderating consumer demand in response to economic conditions, the ongoing Freightimprovement programme and weather events.
• Investment in future growth includes new trans-Tasman shipping service, fleet upgrade, technology andtalented people.
• New CEO commenced in February 2023 - indepth business review completed and legacy issues are beingaddressed.
• Initiation of Project Blueprint in Q423, a 12 to 18 month dual pathway programme to reshape andstrengthen the business, and drive organic growth.


Halfway down the press release it states the NPAT is a loss of $7.2m. It could prove to be a fantastic long term bet but I will watch from the sidelines from now.

[Rawz]

If anyone buys this because some ex MFT dude is running it well i wish you all the best

[nztx]

If anyone buys this because some ex MFT dude is running it well i wish you all the best


Why did he jump ? ;)

[Getty]

The ex long time Mainfreight man will fix them up …no worries

Like this bit. Maybe Mainfreight not focussed enough -

Craig said: “Businesses are telling us they want a strong alternative in the market; a provider who is focused on New Zealand customers, with a breadth of product and service capability, and who can move quickly to deliver a solution that is tailored to their needs. MOVE is well positioned to meet their expectations. We remain committed to delivering exceptional value to our customers, nurturing our talented team, and ensuring the long-term success and prosperity of our company.”

Yes, well they got the delivering exceptional value part right, hence the $7.2M loss in doing so.

Mr Customer, what can we do to win your business?

Well, do more, and charge less of course!

Done!

I think Move and us will get along fine then!

[Rawz]

Yes, well they got the delivering exceptional value part right, hence the $7.2M loss in doing so.

Mr Customer, what can we do to win your business?

Well, do more, and charge less of course!

Done!

I think Move and us will get along fine then!

Exactly what i was thinking.. and how long will that strategy play out until shareholders get grumpy.

[Getty]

Exactly what i was thinking.. and how long will that strategy play out until shareholders get grumpy.

The strategy will play a lot longer I would suggest.

As for shareholders, depends whether they are short haulers or long haulers.


Move took over a lot of tired gear, with long lead times and expense to replace.

Then committed to leases on expensive warehouses that thanks to cyclones and predicted recession may be a lot emptier than anticipated.

[silverblizzard888]

Not a lot to expect from these guys yet, they have so many medium term issues to sort out that there was never going to be a quick fix. If you think about their business everything is signed on for a certain period of time like their leases and their customer contracts, they can't change much of that until times up, first they had to define the business strengths and where they could get their margins, then make changes to target the right customers and sign up on leases that suit their strategy, it was always going to take a good amount of time and the share price was going to take a hit inbetween.

They seem to have figured out what they want and where to go, but the change is still slow. Probably see some good financial changes during this financial year and then seeing it build fairly well into the next.Probably expect them to hit breakeven for FY24 and then if things go smoothly they should generate a profit in FY25.

[nztx]

The Stakeholders who tossed buckets full in to double paid in Capital in 2022 must be
very impressed that not even that has seen a turn around

To unleash potential may require some considerably better times & major fine tuning so
to deliver better than less than breakeven

Unfortunately it seems with value extracted on listing the ship, resources must have
then been limited/constrained - to require further tossed in to sure things up


Watching from the sideline here & fully expect SP to slide further

Many will recollect that dividends prior to suspension seemed to be rather miniscule
and nothing really exciting

Then the SP appeared to get a bit excited on Aussie interest, plus Ex MFY bods climbing in,
but the financials & profitability is the one area that was never recovered, while
others in the same sector appear to be fully recovered - in case of MFT & FRW

[winner69]

MOV shareprice flirting with 60’s today

[Getty]

Mov at 62 cents.

I don't see any reference to it on Move website, but I'm told they have closed one of their branches and laid the staff off..

Pre emptive management?

Or a sick state reversal from MOV it to VOM it?

[iceman]

Mov at 62 cents.

I don't see any reference to it on Move website, but I'm told they have closed one of their branches and laid the staff off..

Pre emptive management?

Or a sick state reversal from MOV it to VOM it?

A company I'm involved with recently stopped using them as a "preferred supplier" for our road transport in the South Island. I have heard that there has been quite an exodus of their road transport customers in the SI. We canceled their service due to unreliability and lack of customer communications. Pricing was not the issue.

[Getty]

A company I'm involved with recently stopped using them as a "preferred supplier" for our road transport in the South Island. I have heard that there has been quite an exodus of their road transport customers in the SI. We canceled their service due to unreliability and lack of customer communications. Pricing was not the issue.

That's more bad news then.

The branch l was told about was in the lower NI.

[iceman]

That's more bad news then.

The branch l was told about was in the lower NI.

I should have said we have continued to use their import/export service but that is due to a long term (2 decades) relationship with that part of the business, way before MOVE, which we are very happy with. Personal relationships.

[nztx]

https://www.nzx.com/instruments/MOV

Nice Year Graph so far .. now to just jettison the remaining 50% of value over the next 12 months ;)

[winner69]

Gloomy update …but hopeful they are

EBITDA of $12m odd is a loss at npat level

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MOV/423986/410117.pdf

[Sideshow Bob]

Better than forecast!!

https://www.nzx.com/announcements/426701 (https://www.nzx.com/announcements/426701)

Transport and logistics group, MOVE Logistics Group Limited (NZX/ASX: MOV), has today reported its unaudited interim results for the six months ended 31 December 2023. The result was above the guidance provided in December 2023 (1H24 Normalised EBITDA $11.5m - $12.5m), with the company reporting Normalised EBITDA of $13.2m.

As previously advised, economic and sector headwinds continue to impact, with inflationary cost pressures and subdued customer activity, particularly for Freight and Warehousing. The retail and construction markets have been particularly hard hit, both of which are important customer sectors for MOVE. MOVE’s diversity across customer and business sectors is an advantage in this environment, ensuring limited exposure to any one sector.

MOVE is continuing to execute on Project Blueprint, a 12 – 18 month dual pathway programme of short and long term initiatives to reshape and strengthen the business, and drive growth. The first three months have now been completed, with the focus on embedding change, improving productivity, driving revenue and delivering customer service excellence. As part of this, a comprehensive cost out programme has been accelerated to drive efficiency and operating excellence. Most benefits from Project Blueprint initiatives are expected to be seen from 2H24 onwards.

Financial Snapshot

The six month financial performance reflects the first three months of Project Blueprint, softer customer demand as a result of economic headwinds, the ongoing re-set of the Freight business, and investment into future growth opportunities including Oceans and technology. In addition, some project work undertaken by the Specialist division was delayed and pushed into future periods. These projects remain ongoing. The company is continuing to transition to a capital light model, providing additional support for the balance sheet and increasing business resilience.

-Total income $159.4m
-EBITDA $12.3m, with Normalised EBITDA $13.2m
-Reported NLAT $(10.7)m with Normalised NLAT of $(9.6)m
-Net debt reduced to $16.9m
-No dividend has been declared

Management Comment

CEO of MOVE, Craig Evans, said: “Customer service excellence remains at the fore as we continue to work in partnership with a diverse range of businesses from across New Zealand, providing quality supply chain and logistics services. We continue to tightly manage all areas within our control, and are maximising this time to progress Project Blueprint, and particularly, the reset of our Freight business which has taken longer than originally anticipated. We have identified productivity and growth opportunities and are moving at pace to take advantage of these.

“Investment into our nationwide sales resource is driving increasing sales activity and momentum, and MOVE’s new Oceans shipping service is also opening up new opportunities for our business. We have continued to refine the new Transport Management IT System and this is expected to go live across our network in 2H24. The leadership team has been strengthened with new leaders driving commercial excellence and momentum.

“We continue to strengthen our end to end supply chain offer, linking our national freight network with new services and transport solutions including trans-Tasman shipping and increasing use of rail which offers lower cost and carbon emissions than road.”

Stronger 2H24 Performance Expected

Performance in the second half year is expected to improve from 1H24, as MOVE benefits from increased new business leads and participation in RFP processes for MOVE’s Freight and Logistics businesses, and as Project Blueprint initiatives start to deliver. The focus remains on cost efficiencies, working capital management and customer value proposition.

Craig Evans said: “In the current environment, businesses are seeking cost effective, quality providers and MOVE is well positioned with the expertise and competitively priced solutions to meet their needs. The multiple initiatives underway will position MOVE to capture the increased customer activity levels expected when the economy recovers.”
ENDS