Experienced new Board appointed - NZX, New Zealand’s Exchange
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https://www.nzx.com/announcements/403188
Integrated automotive group, NZ Automotive Investments Limited (NZAI) (NZX:NZA) has today reported
revenue and income of $40.2m, an increase of 29 percent, for the half year to 30 September 2022 (HY23).
Summary of key results
(Figures quoted are in NZ dollars. Comparisons are made against HY22.)
Revenue and income: $40.2m, increased 29%1.
Vehicle sales: Up 11% to 4,281.
Underlying EBITDA2 including finance income: $2.9m, down $0.3m.
Net profit after tax (NPAT): $0.6m, down $0.8m (including $0.7m of restructuring costs)
Underlying NPAT: $1.0m, a decrease of $0.4m.
Underlying earnings per share (EPS): 2.3 cents per share (cps) against 3.1cps for HY22.
$40.2M of revenue to make $600K NPAT.
Is this business a charity?
It's not as if they have a backroom of R & D personnel to support, or creating some other asset.
All that endeavor for so little return.
All seems 2 cheap to me.
At $140 npat per car, it's the cheapest car storage & cleaning facility in town.
Their customers must love 'em.
looks like they are giving up on their internal finance co.
I don't think they will feature on Wheeler Dealers (Sky TV) anytime soon.
Yasuke needs to reconsider his margins.
He too kind.
Interesting to note 23% of sales are online.
I take that to mean that while the cars may be mechanically tested on behalf of the buyer, they are not test driven by the buyer, but despatched on a transporter or picked up by a third party.
That means @1000 cars were sold this way.
Trusting private buyers?
I suspect it's more likely other dealers are using 2 Cheap as a wholesale supply, and they make a better margin.
Three announcements today. A trading update, seems positive on the face of it and an auditor, that has to be good. Wonder if the SP will bottom out. I have taken a nibble.