Turners Automotive expect another record result for FY24

Company Announcement
23 August 2023



Turners Automotive expect another record result for FY24

Turners Automotive Group Limited (NZX/ASX: TRA) have announced today that they are expecting FY24
to be another record profit result for the business. Positive trading results so far have the company on
track for the FY24 result to be ahead of the record FY23 result of $45.5M Net Profit before Tax.

The forecasted dividend is expected to be at least 24 cents per share (+4%), and Directors have declared
a Q1 dividend of 6.0 cents per share fully imputed which will be paid on 27 October 2023. The dividend
reinvestment plan will apply for this distribution.

Segment outlook:

 Auto Retail - Upside in H2 from new branches (Timaru and Napier). Supply-constrained market
to continue with supply of vehicles an advantage for Turners. The transition of wholesale auction
units into retail sales channel to underpin further market share growth.

 Finance - Quality and margin management remain key priorities within the finance division in
the short term. The economic downturn is impacting arrears but they remain within expected
levels. Margins expected to expand in near term although still some sensitivity to the OCR track.

 Insurance - New policy sales benefiting from our distribution and market share gains and claims
ratios are stable. Investment returns continue to improve.

 Credit Management – debt load levels are increasing as is the volume of payment arrangements
in place. As the economic conditions worsen we expect to see further lift in debt loads from
corporate and SME clients. We are well positioned for the next stage of the NZ credit cycle.

Although NZ still has a high level of economic uncertainty, Turners’ business has continued to perform
exceptionally well.


ENDS



About Turners

Turners Automotive Group Limited is an integrated financial services group, primarily operating in the
automotive sector www.turnersautogroup.co.nz

For further information, please contact:

Todd Hunter, Chief Executive Officer, Turners Automotive Group Limited, Mob: 021 722 818

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Distribution Notice (updated)
Name of issuer
Financial product name/description
NZX ticker code
ISIN
Type of distributionFull YearQuarterlyX
(Please mark with an X in the Half YearSpecial
relevant box/es)
DRP appliesX
Record date
Ex-Date(onebusinessdaybeforethe
Record Date)
Payment date
Totalmoniesassociatedwiththe
distribution
5,241,973.68$
Source of distribution
Currency
Gross distribution
Total cash distribution
Excluded amount (applicable to listed
PIEs)
Supplementary distribution amount
Is the distribution imputed
Iffullyorpartiallyimputed,please
state imputation rate as % applied
Imputationtaxcreditsperfinancial
product
Resident Withholding Tax per
financial product
DRP % discount (if any)
Start date and end date for
determining market price for DRP
Date strike price to be announced (if
not available at this time)
Specify source of financial products to
be issued under DRP programme
(new issue or to be bought on market)
New issue
DRP strike price per financial product
Last date to submit a participation
notice for this distribution in
accordance with DRP participation
terms
Name of person authorised to make
this announcement
Contact person for this announcement
Contact phone number
Contact email address
Date of release through MAP
Todd.Hunter@turners.co.nz
23 August 2023
Fully imputed
28%
$0.02333333
$0.00416667
Section 4: Authority for this announcement
Barbara Badish
Section 4: Distribution re-investment plan (if applicable)
2%
17 October 2023
12 October 2023
10 October 202316 October 2023
Todd Hunter
021 722 818
Section 3: Imputation credits and Resident Withholding Tax
11 October 2023
10 October 2023
27 October 2023
Retained earnings
NZD
Section 2: Distribution amounts per financial product
$0.08333333
$0.06000000
n/a
$0.01058824
Section 1: Issuer information
Turners Automotive Group Limited
Ordinary shares
TRA
NZVNLE0001S1