FleetPartners Group Ltd (ASX:FPR)
A$ 2.64 -0.05 (-1.86%) Market Cap: 621.61 Mil Enterprise Value: 2.19 Bil PE Ratio: 8.25 PB Ratio: 0.99 GF Score: 79/100
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Half Year 2020 Eclipx Group Ltd Earnings Call Transcript

May 13, 2020 / NTS GMT
Release Date Price: A$0.87 (+4.82%)
Julian Russell
Eclipx Group Limited - CEO

Thank you, Izzy. Good morning to all. And thanks for joining this call. We've made really good progress in the last 12 months, which is reflected in this first half result. The business has been strengthened under the simplification plan. As a result, we are well positioned to meet the risks posed by COVID.

Slide 4 provides a good summary of what we've achieved and the strength of our position in the face of COVID. In the first half, our core business outperformed every major line item, growing EBITDA by 10.6% half-on-half. In relation to simplification, we've executed well against the plan. We sold 5 of the 6 noncore businesses. We've delivered annualized savings of $12.5 million against our $15 million target. And we've reduced our corporate debt by 38%.

As it relates to COVID, we have a broad risk mitigation strategy with liquidity management at the core. Liquidity has been preserved through active lease extensions as well as OpEx and CapEx reductions. At the end of March, we had $106 million in liquidity access. This provides us with multiples

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