FPR - FleetPartners Group
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Gap fill target reached this week. Another winner for the gut feel trade plan. These wins are so few that they're worth celebrating. I've sold half to take some profit and this allows me to be more patient.
Update on the progress of Eclipx's Simplification Plan to be released 24/9/19. there may be some price volatility around this news.
Update on the progress of Eclipx's Simplification Plan to be released 24/9/19. there may be some price volatility around this news.
Keeping a watch on Eclipx Group over the next few bars to see what action plays out. Looking for a reversal around the $1.60 - $1.68 mark forming a 1-2-3 B/O trade above $1.845 or a tighter risk trade created by a trend reversal when a pivot low is formed. Current status: DNH.
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Worth watching. ECX have divested 5/6 non core businesses and reduced costs significantly. ECX has already noticed an increase in end of lease vehicle sales. ECX price movement seems to be doing much better than MMS.
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There seems to be a not so subtle push to get commuters using their own cars rather then public transport. Recently a large US company banned it's employees from using public transport to get to work. If they used public transport they would be required to quarantine at home for 14 days. Governments here in Aust are also requesting people avoid public transport if possible.
Cars are still in demand. Car finance companies are doing OK as well (see recent BO in MNY).
Car leasing companies should also do OK (recent good news MMS).
ECX has been bumping up against resistance at 1.50. There's a hint of an ascending triangle with a target near 1.85 (old highs).
MMS could have bought ECX for 1/3 current price.
Cars are still in demand. Car finance companies are doing OK as well (see recent BO in MNY).
Car leasing companies should also do OK (recent good news MMS).
ECX has been bumping up against resistance at 1.50. There's a hint of an ascending triangle with a target near 1.85 (old highs).
MMS could have bought ECX for 1/3 current price.
Dona Ferentes
Abrió la caja, vio al gatito, y sonrió
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The board of Eclipx Group is trying to keep a lid on things ahead of the release of the company’s March half year results which should be ahead of consensus because of the shortage of new cars and the boost that has given to used car valuations – especially vehicles coming off leases.
It’s an interesting move to try and lower expectations for the full year before the interim results have been released, but reading the Eclipx statement to the ASX yesterday it makes sense.
What Eclipx is trying to tell shareholders the good times will not last, so don’t go thinking ‘bonanza’ for the full year based on the half year figures. Thanks to the boom in used car prices, Eclipx said yesterday its first five months of trading had produced much stronger results than forecast.
The fleet management and financial services company held its annual general meeting in late February when it told shareholders the first quarter 2020-21 saw end-of-lease income materially outperform “given strong but temporary used car market conditions”.
However, it says this trend was “temporary in nature and has principally been driven by the limited supply of new vehicles into the Australian and New Zealand markets”. Third party information suggests that global supply will be restored by June 2021.
(X4 since Covid lows)
It’s an interesting move to try and lower expectations for the full year before the interim results have been released, but reading the Eclipx statement to the ASX yesterday it makes sense.
What Eclipx is trying to tell shareholders the good times will not last, so don’t go thinking ‘bonanza’ for the full year based on the half year figures. Thanks to the boom in used car prices, Eclipx said yesterday its first five months of trading had produced much stronger results than forecast.
The fleet management and financial services company held its annual general meeting in late February when it told shareholders the first quarter 2020-21 saw end-of-lease income materially outperform “given strong but temporary used car market conditions”.
However, it says this trend was “temporary in nature and has principally been driven by the limited supply of new vehicles into the Australian and New Zealand markets”. Third party information suggests that global supply will be restored by June 2021.
(X4 since Covid lows)
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On March 31st, 2023, Eclipx Group Limited (ECX) changed its name and ASX code to FleetPartners Group Limited (FPR).
Dona Ferentes
Abrió la caja, vio al gatito, y sonrió
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update ....
FleetPartners Group (ASX:FPR) has reported a year of robust growth for the financial year ending 30 September 2024.
The company, a prominent fleet management and vehicle leasing company operating in Australia and New Zealand, serves both corporate and small fleet customers across the region, and has highlighted several milestones in its latest annual report.
FleetPartners achieved a 12.5% increase in revenue to $761.6m, up from $676.8m in FY23. New Business Writings grew by a record 21%, supported by strong demand for electric vehicles and successful customer acquisition initiatives. Assets Under Management or Financed rose by 11%, reflecting sustained growth in the company’s operational scale.
Despite these gains, Net Profit After Tax and Amortisation (NPATA) edged lower by 0.7% to $87.7m, while statutory profit fell to $77.9m from $81.0m in FY23. The decline in profitability was attributed to higher operating expenses and provisions for bad debts, which rose by $2.9m as the novated lease portfolio rapidly expanded.
Key metrics also revealed areas of pressure. Employee costs increased, adding $4.7m to overall expenses, while interest expense jumped by 35% to $16.7m, reflecting the higher cost of debt financing in the current interest rate environment.
FleetPartners has been pursuing strategic initiatives under its “Strategic Pathways” and “Accelerate” programs. These efforts include consolidating its brands and technology systems, which are expected to deliver $6m in annual cost savings by FY25, and capitalising on the growing EV market. Electric vehicles represented 53% of new novated leases during the year, supported by government incentives such as the Electric Car Discount. The company also maintained carbon-neutral certifications in Australia and New Zealand, demonstrating its commitment to sustainability.
CEO Damien Berrell noted: “Our record performance reflects the strength of our strategy and our commitment to delivering value for our customers and shareholders. At the same time, we remain focused on optimising costs and navigating the evolving market landscape."
FleetPartners accelerates despite profit bumps
By Finance News Network | More Articles by Finance News NetworkFleetPartners Group (ASX:FPR) has reported a year of robust growth for the financial year ending 30 September 2024.
The company, a prominent fleet management and vehicle leasing company operating in Australia and New Zealand, serves both corporate and small fleet customers across the region, and has highlighted several milestones in its latest annual report.
FleetPartners achieved a 12.5% increase in revenue to $761.6m, up from $676.8m in FY23. New Business Writings grew by a record 21%, supported by strong demand for electric vehicles and successful customer acquisition initiatives. Assets Under Management or Financed rose by 11%, reflecting sustained growth in the company’s operational scale.
Despite these gains, Net Profit After Tax and Amortisation (NPATA) edged lower by 0.7% to $87.7m, while statutory profit fell to $77.9m from $81.0m in FY23. The decline in profitability was attributed to higher operating expenses and provisions for bad debts, which rose by $2.9m as the novated lease portfolio rapidly expanded.
Key metrics also revealed areas of pressure. Employee costs increased, adding $4.7m to overall expenses, while interest expense jumped by 35% to $16.7m, reflecting the higher cost of debt financing in the current interest rate environment.
FleetPartners has been pursuing strategic initiatives under its “Strategic Pathways” and “Accelerate” programs. These efforts include consolidating its brands and technology systems, which are expected to deliver $6m in annual cost savings by FY25, and capitalising on the growing EV market. Electric vehicles represented 53% of new novated leases during the year, supported by government incentives such as the Electric Car Discount. The company also maintained carbon-neutral certifications in Australia and New Zealand, demonstrating its commitment to sustainability.
CEO Damien Berrell noted: “Our record performance reflects the strength of our strategy and our commitment to delivering value for our customers and shareholders. At the same time, we remain focused on optimising costs and navigating the evolving market landscape."
