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General Information

AP Eagers Limited
Automotive Retail

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$10.49 $10.63 $10.74 $10.22 $10.65 69484 $0.16 ( 1.50% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Strong Buy

Company Overview

Business Description
AP Eagers Limited (APE) operates motor vehicle dealerships in Australia. APE provides full facilities including the sale of new and used vehicles, service, parts and the facilitation of allied consumer finance. APE also operates a substantial motor vehicle auction business, Brisbane Motor Auctions. APE has four operating segments being Automotive Franchised Retail, Truck Retail, Property, Investment and others.
Strategy Analysis
APE's strategy is focused on maintaining its industry position through acquisition of dealerships located on strategically visible and functional properties. APE is structured through a franchise and dealership network and develops its dealership program through acquisition, property rationalisation and refurbishing existing facilities. To improve margins at each dealership, APE is focused on cost control, optimising property usage operational integration.. AP Eagers reported NPAT up 38% to $55.37m for the year ended 31 December 2012. Revenues from ordinary activities were $2.64bn, up 10% from last year. Diluted EPS was 33.2 cents compared to 25.2 cents last year. The increases in profitability and earnings per share were due to improved operational results from the company's Qld/NT, SA Cars and National Truck divisions and the inclusion for the first time of dividend income from the strategic investment in Automotive Holdings Group. Net operating cash flow was $55.64m compared to $64.52m last year. The final dividend declared was 13 cents, taking the full year dividend to 20 cents compared with 80 cents last year.

Financial Summary

Year to Dec NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014 A 79.5 43.1 21.0% 12.7 27.0 5.0% 100.0%
2013 A 64.6 35.6 7.3% 13.2 23.0 4.9% 100.0%
2012 A 55.6 33.2 30.6% 11.1 20.0 5.4% 100.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Automotive Holdings Group (AHG) $1,354M 0.1319 0.0203 0.1034 15.2414 14.9375 13.5375 4.75% 4.98% 5.43%
AP Eagers (APE) $1,913M 0.2099 0.0000 0.0000 24.7042 0.0000 0.0000 2.54% 0.00% 0.00%
Super Retail Group (SUL) $1,850M -0.0715 -0.0135 0.1825 17.5547 17.7942 15.0481 4.26% 3.57% 4.48%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.00 24.30 3.21 0.00
Market 0.89 16.20 1.33 1.33
Sector 0.99 15.30 1.73 2.06


Name Position Start Date
Mr Martin Andrew Ward Chief Executive Officer, Managing Director 06/03/2006
Mr Nicholas George Politis Non-Executive Director 05/05/2000
Mr Peter William Henley Non-Executive Director 08/12/2006
Mr Daniel Thomas Ryan Non-Executive Director 01/01/2010
Mr David Arthur Cowper Non-Executive Director 01/07/2012
Mr Timothy Boyd Irving Crommelin Non-Executive Director, Non-Executive Chairman 23/02/2011


Name Position
Stephen Graham Best Chief Financial Officer
Denis Gerard Stark General Counsel,Company Secretary
Keith Thomas Thornton General Manager QLD & NT

Substantial Shareholders

Holding Name
62,817,353 (35.19%) WFM Motors Pty Ltd
11,977,755 (6.71%) Patterson Cheney Investments Pty Ltd
10,193,381 (5.71%) Jove Pty Ltd

Calendar of Events

Date Event
14 April 2016 Report (Annual)
23 March 2016 Report (Annual)
29 February 2016 Report (Prelim)
24 February 2016 Report (Prelim)
31 August 2015 Report (Interim)
27 August 2015 Report (Interim)
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