thl Annual Results FY22 - NZX, New Zealand’s Exchange

Summary:
•Significant improvement on the prior corresponding period (pcp), with underlying net loss after tax of $5.4M, improved by $8.9M. Statutory net loss after tax of $2.1M, improved on the pcp by $12.4M.(1)
•Total revenue of $345.8M, down 4% on the pcp, due to reduced rental revenue (lockdown impacts), with sale of goods revenue broadly in line with the pcp.
•Record vehicle sales margins were achieved in all countries, with average gain on sale of fleet of approximately $29k per vehicle, up 137% on the pcp.
•Net debt at 30 June 2022 was $58.5M, providing approximately $200M of headroom in debt facilities to fund fleet growth.(2)
•No dividend declared for FY22 and a dividend unlikely for FY23.
•thl currently expects that net profit after tax in FY23 on a standalone basis will be within the current range of analyst expectations, being between $17.0M to $30.2M.