Bapcor Limited – 1HFY19 Results to be Declared on 13 Feb 2019

Bapcor Limited (ASX: BAP) retails automotive parts. The Company offers aftermarket parts, accessories, and services. Bapcor serves customers in Australia, New Zealand and Thailand. Recently, the company stated through a release on the exchange that the investor conference call which will be hosted by Darryl Abotomey, CEO & Managing Director, and Greg Fox, CFO and Company Secretary, will be held on Wednesday 13th February 9.30 AM AEDT to 10.30am AEDT to disclose H1 FY2019 results.

The financial year 2018 proved to be a phenomenal year for the group, it recorded a revenue of $1,237 Mn, up by 22% on a YoY basis. The acquisition of Hellaby Holdings in FY17 was a key driver of the results achieved in FY18. The Net profit after tax increased by 32% to $86.5m for continuing operations. NPAT growth from continuing operations reflects the underlying growth of Bapcor’s base business across the Trade, Bapcor NZ, Specialist Wholesale, Retail & Service segments and contribution of acquisitions. 

This year the Board was focussed upon overseeing the consolidation of the expanded Bapcor Group. This included the integration of the Hellaby Holdings businesses and alignment to the Group structure, delivering synergies from acquisitions, and capturing own brand intercompany sourcing opportunities. This acquisition is expected to deliver optimisation benefits ranging $8m-$11m by FY20. These benefits would be over & above the returns indicated at the time of the acquisition.

The company has been at the forefront when it comes to providing shareholder returns. Since its listing on the Australian Securities Exchange (ASX) Bapcor has outperformed the market by a significant margin. In the last four years, Bapcor has delivered ‘total shareholder returns’ of 275% compared with the ASX 200 average return of 58% over the same period. The company paid 15.50 cps as a dividend for the FY2018, up by 19.20% on a YoY basis.

As regards the outlook, the Revenue and profit growth is expected to continue in FY19 with NPAT results projected to be between 9% and 14% above FY18 Continuing Operations NPAT. The company has already commenced its FY19 on a very positive note with the first store in Asia opened in Bangkok, Thailand, with a further four stores planned during this calendar year. Bapcor’s strategy will continue to focus on the optimisation of the Group and the vertical integration of the business segments. The company’s five-year strategic targets incorporate the development of its store network, supporting its franchised groups, increasing brand penetration and intercompany sourcing.

Now, let us have a quick look at Bapcor Limited’s stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $6.42, trading up by 2.067% during the day’s trade with a market capitalisation of ~$1.78 Billion. The counter opened the day at $6.330 and touched the day’s high of $6.490 and touched the day’s low of $6.310 with a daily volume of 1,168,319. The stock has provided a YTD return of 7.52% & also posted returns of -10.65%, -10.91% & 7.34% over the past six months, three & one-months period respectively. It had a 52-week high price of $ 7.850 and touched 52 weeks low of $ 5.420, with an average volume of ~1,247,740.


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