Currently on holiday in Central Otago and notice as many Maui/Britz/Apollo/Mighty vehicles as I can ever remember seeing.
The THL NZ booking engine today details no South Island availability for a one week rental commencing 31 December and the North Island only details one vehicle type available - a 4 berth Britz Wanderer at $7,260 for 7 days.
The Australian booking engine shows a greater degree of vehicle type availability in Australia for the same period at rates just below A$3,000 (and above) for the week.
Will be interesting to see the next trading update in late February (or sooner) on rental yields and resale pricing.
Summary: • Net profit after tax (NPAT) of $39.7M, an increase of 58% on the prior corresponding period (pcp) • Rentals performs well globally, with rental yields growing or remaining stable in all markets • Continued rental fleet growth, with closing rental fleet of 7,366 up 15% on the pcp • An interim dividend of 4.5 cents per share declared, 100% imputed and 25% franked • A challenging global vehicle sales environment sees fewer sales volumes. Gross profit margins are now normalising in most markets, in line with our expectations • Action Manufacturing and Tourism deliver record half-year results and are on track to deliver record results for FY24 • We currently expect NPAT in FY24 to be around $75M. Rental demand and yields continue to outperform expectations which provides some upside potential. There also remains a level of uncertainty around retail vehicle sales which provides downside risk • We reiterate our goal to deliver $100M in NPAT in FY26
about 10.3x PE on FY24 NPAT of $75m. That on the back of management's confidence of reaching $100m by FY26, that's 33% growth in NPAT in 2 years. So maybe $87.5m FY25 NPAT if $ growth even between the next two years.
would imply PE's of 10.3x, 8.9x, 7.6x on prospective results. Plus divies. Not unreasonable in my view. Macro overhang on sentiment obviously.
Originally Posted by sb9
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