MTO - MotorCycle Holdings

[System]

Motorcycle Holdings owns and operates Australia's largest motorcycle dealership with 34 franchises across Queensland, New South Wales and the Australian Capital Territory.

It is anticipated that MTO will list on the ASX during April 2016.

http://www.teammoto.com.au

 

[debtfree]

I was quite surprised there has been no post as of yet, so I better throw a chart in here to kick it off. Chart wise it does look promising.

 

[Garpal Gumnut]

The analysts all upgraded this piglet 2 days ago to a strong buy.

Oh to be anal.

Up about 13% on a tasty t/o. and is ex div. One of my luckier acquisitions of late. It is all about luck or being able to access information ahead of the market.

gg

 

[divs4ever]

almost tempted to buy some last week but missed my target price , will probably have to wait for the economy to officially tank

 

[divs4ever]

MTO is my fourth pick in the full year ,

i do not hold this one yet

but think economic conditions ( in Australia ) will have some looking to cut transportation costs , and going for two wheels is one strategy ( and more incentive to keep older models in running condition )

i see a growth vector in electric bikes and scooters ( i hold VMT ) that can be included at reasonable expenditure

 

[divs4ever]

Underlying EBITDA Guidance

MotorCycle Holdings Limited (ASX:MTO) (MTO or the Company), one of Australia’s leading retailers and wholesale distributors of motorcycles, parts, and accessories, today provides an update in relation to expected earnings before interest, tax, depreciation and amortisation (Underlying EBITDA) for the 6 months ending 31 December 2023.

Underlying EBITDA guidance In providing an update to shareholders on its financial position, the Company expects to report Underlying EBITDA of between $14 million and $16 million for the 6 months ending 31 December 2023, subject to audit (6 months ending 31 December 2022: $18.1 million).

Wholesale sales of farm vehicles (ATVs and Side by Sides) are slowing, with increased competition as stock levels for all distributors normalise.

The competitive environment is putting pressure on margins.

While retail unit sales of new motorcycles remain strong, wider economic conditions are driving margin pressures affecting all areas of the business.

-ENDS

This announcement was authorised for release by the Board of Directors.

i hold MTO

was looking to add more at sub $2 , the pre-market hints it will rise but that is no guarantee

but keep watch on farm vehicles that sector might be impacted by increased drone use ( or grow in parallel with increased drone use )

 

[divs4ever]

and ... got more sub $2 thank you very much

will miss the bottom ( unless i add more later ) but am happy with my buying price

 

[UMike]

Added to my bottom pickings interest list

 

[divs4ever]

Added to my bottom pickings interest list

will probably go lower as many investors see motorcycles as 'luxury' or a hobby thing '

i see them a living cost reduction thing ( as well as a hobby thing ) add in EV exposure and agricultural sales

not your every day idea 'of safe haven ' but should be more resilient than some retailers

 

[UMike]

Yea. Might wait a few days to see if it is the bottom.

Odd Guidance less than a month after the AGM.

 

[divs4ever]

Yea. Might wait a few days to see if it is the bottom.

Odd Guidance less than a month after the AGM.

certainly caught the market off-guard

BTW i missed a second buy ( so far ) today

but maybe they worried about being 'timely' with their disclosures

 

[divs4ever]

SHERCO AND LAMBRETTA DATA BREACH

MotorCycle Holdings Limited (ASX: MTO) (the Company), has been made aware that a Threat Actor (Actor) has unlawfully gained access to a third-party hosted web server for two of its branded websites, Sherco and Lambretta (the Websites) used in its MOJO Motorcycles’ business.

The Actor inserted malicious code into the websites which may have resulted in the exposure of some customer personal information, including names, addresses, email addresses and phone numbers.

Additionally, the Actor had gained access to the server, which stored customer responses to webforms from the Websites.

Customers who were affected by this security breach will be notified individually.

Customers who are not contacted have not had their details accessed in the breach.

MOJO Motorcycles was acquired by MTO in October 2022.

There has been no compromise of any other MTO platforms identified at this stage and the data breach has had no impact on the Company’s ongoing operations.

The Company’s internal network is unaffected by this breach as the servers are not linked.

We will continue to keep our customers, shareholders, and key stakeholders updated as we respond to this event and our investigation continues and further facts are established.

i hold MTO

and while i do not currently have an order ( for MTO ) in the market

i will be watching for a top u opportunity

 

[divs4ever]

DIRECTOR RESIGNATION

MotorCycle Holdings Limited (ASX: MTO) (the Company) advises that Ms Katie McNamara has resigned as Non-Executive Director effective immediately.

Ms McNamara has accepted a global executive role and is unable to commit to her role as a Non-Executive Director with the Company.

The Company would like to thank Ms McNamara for her significant contribution since her appointment in 2022.

Non-Executive Chair, Rick Dennis commented,“On behalf of the Board, I extend our thanks and appreciation to Katie for her invaluable knowledge and contribution during her tenure.
We wish her all the best in her future endeavors.

”The Board is currently assessing appropriate board composition and will update the market in respect to any additional appointments to the Board following Ms McNamara’s resignation.

-ENDS

This announcement was authorised for release by the Board of Directors.

i hold MTO

i doubt this will cause a dip large enough to tempt me to add to the holding ( but i have been wrong before

 

[divs4ever]

CEO SUCCESSION AND COO APPOINTMENT

MotorCycle Holdings Limited (ASX: MTO) (the Company) announces the retirement of Mr Dave Ahmet as Chief Executive Officer and Managing Director and the appointment of Mr Matthew Wiesner, as Chief Executive Officer (CEO) of the Company, in December 2024.

Matthew brings over 20 years of senior leadership experience in both the wholesale and retail automotive industries, with an extensive background in OEMs.

He has successfully led and transformed businesses across Australia, New Zealand, and internationally. Matthew has served as Managing Director for various retail and wholesale organisations and has held key executive and strategic roles in both publicly listed and privately held entities.

As a seasoned leader, Matthew has demonstrated a strong ability to drive business performance, transform businesses, and achieve growth through operational excellence and strategic innovation.

He joins the Company from his most recent role as Managing Director of Sime Darby Motors Group Australia.

Commenting on the appointment, Motorcycle Holdings Chair, Mr Rick Dennis said, “The Board is confident that Matthew’s expertise, vision, and strategic acumen will be invaluable as the Company strengthens its position in the market and pursues new opportunities for growth.

”Mr Wiesner said “It’s an exciting time to be joining the Motorcycle Holdings team as we look to the next phase of development and growth whilst the broader mobility industry continues to evolve at pace.”

The Company is also pleased to announce the appointment of Mr Michael Poynton as Chief Operating Officer(COO) of the Group effective immediately.
Michael joined the Company in 2022 following the acquisition of Mojo Motorcycles and brings over 20 years’ experience in the motorcycle industry.

He is currently Executive Director and General Manager – Mojo.

As the incoming COO, he will be responsible for leading the operations of the group and will continue to lead the Mojo business.In accordance with ASX Listing Rule 3.16.4, the material terms of Matthew’s and Michael’s employment areoutlined in the attached Appendix.

After 13 years as CEO and Managing Director, Mr Dave Ahmet will transition from his executive role to a non-executive director from December 2024.

Mr Ahmet will continue to be actively involved in shaping the strategic direction of the Company, and provide counsel to Matthew, ensuring a smooth handover, while retaining a large shareholding.Mr Dennis said “The Board thanks Dave for his outstanding service to the Company over many years.

As founder, Dave has succeeded in building the Company to be the leading and most successful motorcycle and accessories company in Australia, with turnover in excess of $500m per annum.

As a Board member, we look forward to Dave’s continuing involvement and guidance over the years to come.”CEO and Managing Director Mr Ahmet said: “Whilst retiring from the CEO role, I intend to remain involved in the strategic direction of the Company and assist Matthew in any capacity I can.

I do however need to focus on my health following a recent accident, so the time is right for me to step aside and to pass the baton onto Matthew.

I’m sure Motorcycle Holdings will benefit from Matthew’s track record of driving business growth and focus on results.

I will stay closely involved in the business to ensure a smooth transition and intend to remain a significant shareholder going forward.”

-ENDS


This announcement was authorised for release by the Board.

i hold MTO