Sharechat Logo

NZ Automotive Investments Limited (NZX: NZA) FY21 Earnings Guidance

Monday 1st March 2021

Text too small?

NZ Automotive Investments Limited (NZAI/the Company) is pleased to provide an update to the market on its earnings guidance for the year ending 31 March 2021 (FY21). This follows the direct listing of NZAI on the NZX and the issue of its Listing Profile on 25 February 2021. The Listing Profile contains information about the company, including its strategy.

NZAI’s long-term strategy is to leverage its retail business to build a diversified automotive group, including growing the NZ Motor Finance book. NZAI has appointed an experienced Board, including independent directors, and vehicle finance expert David Page as CEO, to provide strong governance and management to lead the company through its expansion and drive its growth strategy.

As set out in the Listing Profile, NZAI and the general automotive industry were impacted by the lockdowns relating to Covid-19 throughout FY21. Throughout the year, the Company has had to be agile in responding to the disruptions and uncertainty. Nevertheless, the results for FY21 will be affected by the lockdowns, where the company could not fully trade for at least 68 days, or 19% of the year.

The Company now expects net profit after tax (NPAT) (excluding listing costs) for FY21 to be in the range of between $3.3m to $3.7m. This guidance assumes an impact from the latest Covid-19 restrictions of between 7 and 14 days of lockdown in level 3 for Auckland and level 2 for the rest of the country between 28 Feb 2021 to 13 March 2021.

The company has adopted a dividend policy with a target pay-out ratio of 50% to 60% of underlying NPAT. Further detail on the dividend policy is set out in the Listing Profile. The company expects to release its full year FY21 results at the end of May 2021.

Please see the link below for details:

NZAI FY21 Earnings Guidance

Source: NZ Automotive Investments Limited

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Fonterra provides milk price, performance, strategy update
Revised Chatham announcement concerning PDAC
23rd June 2022 Morning Report
Greenfern Industries attains important industry certificati
Appointment of Group General Manager Sales & Service
NZME confirms Google agreements
FBU Investor Day FY22 EBIT guidance c.$750m reiterated
Chatham Reports on Multiple Milestones Achieved at PDAC
22nd June 2022 Morning Report
21st June 2022 Morning Report