Mainfreight Limited – Trading Update

MAINFREIGHT LIMITED

Mainfreight Lane | off Saleyards Road | Otahuhu 1062 | New Zealand
Tel +64 9 259 5500 | Fax +64 9 270 7400
PO Box 14-038 | Panmure | Auckland 1741 | New Zealand
Supporters of
MAIN F R E IG H T – GLOBAL LO G IS TIC S
NZX MARKET RELEASE


1 September 2021


MAINFREIGHT LIMITED – TRADING UPDATE


Mainfreight Limited (NZX: MFT) provides this update in the interests of keeping the market
informed of trading while New Zealand and Australia move through stronger Covid-19
lockdowns.

Financial Trading Update
Based on 1 April 2021 to 31 July 2021 monthly financial statements, plus weekly financials
for August 2021, in total 22 weeks’ of trading:


This Year Last Year

This Year Last Year


Revenue* Revenue*
Var

PBT PBT
Var
Segmental by Region

$000 $000
%

$000 $000
%

New Zealand
NZ$
479,716 362,597
32%

37,303 27,283
37%
Australia
AU$
466,479 363,208
28%

34,672 24,512
41%
Americas
US$
385,250 222,338
73%

27,014 5,911
357%
Europe
EU€
262,023 197,805
32%

10,359 5,552
87%
Asia
US$
187,911 67,784
177%

8,895 3,255
173%

Total Mainfreight Group NZ$ 2,224,564 1,555,523
43%

142,278 77,709
83%




This Year Last Year

This Year Last Year


Revenue* Revenue*
Var

PBT PBT
Var
Segmental by Product

$000 $000
%

$000 $000
%

Transport
NZ$
887,633 728,239
22%

58,992 43,286
36%
Warehousing
NZ$
225,325 181,272
24%

18,017 12,405
45%
Air & Ocean
NZ$
1,111,606 646,013
72%

65,268 22,018
196%

Total Mainfreight Group NZ$ 2,224,564 1,555,523
43%

142,278 77,709
83%
* Includes Inter-company revenue

Mainfreight Limited – Trading Update
1 September 2021



- 2 -
Commentary
We continue to be satisfied with Group trading results to date as we approach our
half year of 30 September 2021. Trading across all regions continues ahead of the
prior year. While congestion in global supply chains remains a feature in particular
for our Air & Ocean division, our people continue to focus on solutions to provide
space for our customers.

Covid-19 lockdown restrictions currently in place in New Zealand have seen a lower
than expected decrease in revenues, while Australian trading has continued
unabated.

Since the New Zealand lockdown restrictions, group weekly profitability remains
ahead of the prior year.

Regional Overview

New Zealand
Lockdown Level 4 18
th
August 2021 | Essential services only

Post-lockdown, domestic Transport trading has seen a decrease in revenue of
approximately 30%. This reduction is less than expected.

Activity in our Warehousing business has been consistent with prior weeks as the
arrival of import containers continues to restock customers’ inventory.

Our Air & Ocean division has seen ongoing demand for our services, with no effect
on trading as a result of lockdown restrictions.

The move to Alert Level 3 outside of Auckland/Northland regions will bring increased
activity for all three divisions, particularly Transport.

Mainfreight Limited – Trading Update
1 September 2021



- 3 -
Australia
Strong lockdown New South Wales; Partial and varying across other States |
General freight volumes moving

Trading has continued to be strong in all three divisions of our business. These
results are satisfactory and trading levels are expected to continue to be strong into
the Christmas period.

The Americas
Partial soft lockdowns | Freight delivery unimpeded

We continue to see good financial improvement via improved trading conditions
across all three divisions. These improvements are led by our Air & Ocean business,
although port and supply chain congestion remains an issue across the Americas.

It is expected trading will further improve through the upcoming peak season.

Europe
Partial/soft lockdowns; borders remain open | Freight delivery unimpeded

Financial performance for this region has remained consistent with previous updates,
with only the expected summer holiday reductions having an impact in our Transport
division.

In line with the other regions of our network, Air & Ocean activity continues to
strengthen.

Warehousing utilisation is improving as customers increase their stock holdings in
preparation for peak season.

Mainfreight Limited – Trading Update
1 September 2021



- 4 -
Asia
Partial and full lockdown restrictions of varying degrees across the region |
Freight continues to move unimpeded

Our Air & Ocean business across Asia continues to strengthen as demand
increases. Port congestion remains an issue, affecting shipping schedules.

Vietnam has seen stronger lockdown restrictions reducing shipping volumes from the
region, while our other Southeast Asian branches continue to see increased activity.

The entire China/Southeast Asia region is expecting increased volumes over the next
three months.

Cash Flows
Cash flows remain at acceptable levels. We retain our strong focus on cash
collection.

Additional Reporting
Our 2022 half year results to 30 September 2021 will be released to the market on
Thursday, 11 November 2021.

Ends


Don Braid
Group Managing Director


Mainfreight Limited
2 Railway Lane, Otahuhu, Auckland 1062
PO Box 14038, Panmure, Auckland 1741
Email: don@mainfreight.com