Half Year Result and Dividend

Half Year Report
31 December 2024

Half Year Report
For the Six Months Ended 31 December 2024
Dear Shareholder
Trading Profit after tax at $6.9m, down 23.8% on last year
Interim Dividend unchanged at 15cps
Trading Results
Trading profit after tax of $6.9m for the first half of the 2025 financial year was below the comparative period
but was a better result than we anticipated at the time of the 2024 AGM in November. At that time, the market
and outlook appeared bleak and the second half of 2024 largely lived up to that expectation. However, a strong
December result, assisted by continued prudent cost management, has seen the six months to 31 December
2024 end on a more positive note.
Dividend
The Board has declared a fully imputed interim dividend of 15 cents per share. The dividend will be paid on
Monday, 31 March, with a Record Date of 21 March.
Trading Conditions
The market remains subdued, relative to the trading conditions we enjoyed over the past few years, with
recessionary impacts affecting demand for new light vehicles and now heavy trucks. In terms of light vehicles,
we continue to see excess stock in the market maintaining the challenging trading environment. The refreshed
focus that Management has placed on used vehicles within our dealerships, together with the ongoing cost
management, have been contributors to the better than expected result. At the same time, the positive tone
within the agricultural sector, driven by an increased dairy payout and aggressive marketing by the major brands,
has seen some ‘life’ return to the tractor market.
Property Developments
We continue to support our property investment and refurbishment programme, including the new showroom
at Fagan Motors in Masterton which is all but complete. We have slowed development activity in response to
a costlier environment. This year we will progress the development project in Palmerston North for Southpac
Trucks and we have purchased a site in Rangiora to strengthen our Ford representation in that growth corridor.
Outlook
The January market across the country did not herald any significant news for a change in market sentiment, with
new vehicle registrations 14% lower than January 2024. Given our concentration on cost reduction, efficiency,
a revitalised used vehicle focus and the strength of our core franchise offerings, we are well placed to compete
in this changed and challenging market environment.
Annual Meeting
The 2025 Annual Meeting is scheduled to be held in Wellington at the Harbourside Function Venue at midday
on the 7th of November.
For and on behalf of the Board
A J (Ash) Waugh
Chair 19 February 2025
and Subsidiary Companies

and Subsidiary Companies
Consolidated Statement of Financial Performance
For the six months ended 31 December 2024
6 Months to
31 December 2024
$’000
Unaudited
6 Months to
31 December 2023
$’000
Unaudited
12 Months to
30 June 2024
$’000
Audited
Revenue
Products461,362449,707923,111
Services45,45744,32587,800
Other income1,0688412,009
Total revenue507,887494,8731,012,920
Trading expenses
Cost of products and services sold412,052400,250821,895
Remuneration of staff49,57047,94595,054
Depreciation and amortisation4,9514,88010,021
Interest7,8607,06515,492
Other operating costs22,20020,78842,784
Total trading expenses496,633480,928985,246
Trading profit before tax11,25413,94527,674
Taxation3,8153,9517,970
Non-controlling interest4998851,820
Trading profit after tax6,9409,10917,884
Non-trading items Fair value adjustments after tax(19)157(13,349)
Profit attributable to shareholders6,9219,2664,535
Profit for the period
Profit attributable to:Shareholders6,9219,2664,535
Non-controlling interest4998851,820
Profit for the period7,42010,1516,355
Statistics per share
Basic and diluted earnings per share
Profit attributable to shareholders (cents)21.228.313.9
Trading profit after tax (cents)21.227.954.7
Dividends
Dividends (cents per share)15.015.035.0
Total dividends ($’000)4,9044,90411,443
Net tangible assets per share9.079.249.04
Consolidated Statement of Comprehensive Income
For the six months ended 31 December 2024
6 Months to
31 December 2024
$’000
Unaudited
6 Months to
31 December 2023
$’000
Unaudited
12 Months to
30 June 2024
$’000
Audited
Profit for the period7,42010,1516,355
Other comprehensive income
Items that will not be reclassified subsequently to profit or loss
Property revaluation reserve- Fair value movement after tax(174)-1,755
Items that will be reclassified subsequently to profit or loss if conditions are met
Cash flow hedge reserve- Movement in fair value of hedge
derivatives after tax
1,089(3,734)(2,335)
Total other comprehensive income for the period915(3,734)(580)
Total comprehensive income for the period8,3356,4175,775
Total comprehensive income for the period attributable to:
Shareholders7,6736,0924,306
Non-controlling interest6623251,469
Total comprehensive income for the period8,3356,4175,775
Consolidated Statement of Changes in Equity
For the six months ended 31 December 2024
6 Months to
31 December 2024
$’000
Unaudited
6 Months to
31 December 2023
$’000
Unaudited
12 Months to
30 June 2024
$’000
Audited
Total equity at beginning of the period301,561315,922315,922
Total comprehensive income8,3356,4175,775
Dividends paid to shareholders(6,539)(13,732)(18,636)
Dividends paid to non-controlling interest(225)-(1,500)
Total equity at end of period
303,132308,607301,561

and Subsidiary Companies
Consolidated Statement of Financial Position
As at 31 December 2024
31 December 2024
$’000
Unaudited
31 December 2023
$’000
Unaudited
30 June 2024
$’000
Audited
Shareholders’ equity
Share capital15,96815,96815,968
Retained earnings165,742174,993165,359
Property revaluation reserve115,412113,831115,586
Foreign exchange cash flow hedge reserve455(1,659)(470)
Total shareholders’ equity297,577303,133296,443
Non-controlling interest5,5555,4745,118
Total equity303,132308,607301,561
Current liabilities
Borrowings69,44834,12362,665
At-call deposits27,85529,44429,325
Trade & other payables60,93185,63755,581
Vehicle floorplan finance92,65781,136100,032
Lease liabilities2,0302,0822,070
Other1,1463,4822,506
Total current liabilities254,067235,904252,179
Non-current liabilities
Lease liabilities19,76320,74519,777
Other19,62360,20325,022
Total non-current liabilities39,38680,94844,799
Total equity and liabilities596,585625,459598,539
Current assets
Cash & bank accounts8,26112,77911,473
Trade & other receivables55,49055,99857,031
Inventory251,080269,880250,129
Other1,003430431
Total current assets315,834339,087319,064
Non-current assets
Property, plant & equipment259,186253,472257,703
Right of use asset19,66020,77819,789
Other1,90512,1221,983
Total non-current assets280,751286,372279,475
Total assets596,585625,459598,539
Consolidated Statement of Cash Flows
For the six months ended 31 December 2024
6 Months to
31 December 2024
$’000
Unaudited
6 Months to
31 December 2023
$’000
Unaudited
12 Months to
30 June 2024
$’000
Audited
Operating cash flows
Inflows509,373486,3351,003,228
Outflows(489,782)(534,729)(1,044,209)
Net operating cash flows 19,591(48,394)(40,981)
Investing cash flows
Inflows-8381,273
Outflows(8,290)(8,227)(17,391)
Net investing cash flows (8,290)(7,389)(16,118)
Financing cash flows
Inflows-74,32484,029
Outflows(14,513)(15,616)(25,311)
Net financing cash flows(14,513)58,70858,718
Net change in cash held(3,212)2,9251,619
Cash at beginning of period11,4739,8549,854
Cash at end of period8,26112,77911,473
Segment Information
For the six months ended 31 December 2024
2024
Unaudited
2023
Unaudited
Operating
Segment
$’000
Corporate
$’000
Total Group
$’000
Operating
Segment
$’000
Corporate
$’000
Total Group
$’000
Revenue from customers507,429458507,887494,484389494,873
Trading profit before tax10,48177311,25413,34260313,945
Total assets346,294250,291596,585382,275243,184625,459
These summary consolidated financial statements have not been audited. They have been prepared using accounting
policies that are consistent with the most recent annual financial statements and comply with NZ IAS 34, Interim
Financial Reporting.
The financial statements were authorised for issue by the Directors on 19 February 2025.

and Subsidiary Companies
After an extensive search, a purpose built workshop facility was purchased for Avon City Motors in Rangiora,
Canterbury. This replaces an existing lease facility and provides the Rangiora branch with the opportunity to
significantly expand their workshop and parts capacity. This also locates the branch closer to key fleet customers.
Planning is underway to rebrand the building, create showroom space and a strong used car presence.
The stand alone Mazda
premises have been
refurbished to reflect
the latest brand look
and feel. At the same
time a parts warehouse
was built so that the
dealership is better able
to meet the needs of its
customers in the region.
Fagan Motors Rebuild
Dunedin City Motors Remodel
Rangiora Development Property
A new showroom has been built
at Fagan Motors in Masterton.
The new build includes the latest
brand standards for both Ford and
Mazda and provides the dealership
with a showroom that better
meets branding requirements.

and Subsidiary Companies
Above, the redesigned Escape arrived in
2024, with a new exterior and available in
full and plug in hybrid power trains.
2024 saw the arrival in New Zealand of the next generation Mustang.
Continuing the ‘Pony’ legacy the coupe comes as the V8 GT or the
range topping Dark Horse. Demand has been strong among loyal
customers and most of the initial allocation has been accounted for.
Pictured below, the RTR ‘Ready to Rock’ modified variant.
Dunedin City MotorsAvon City Ford
Team Hutchinson Ford
The Ford Guest Experience (FGE) is an
initiative by Ford that redefines customer
service standards. Dealerships earning the
FGE Accreditation have passed rigorous
assessments, proving their commitment
to trust, transparency and integrity. This
prestigious recognition, as shown in the
accompanying photos of some of the
accredited dealerships, highlights their
dedication to exceptional customer service.
Although new vehicle registrations
were well down year on year, there
was good news in 2024. The Ford
Ranger was once again the best
selling vehicle
overall in New
Zealand for the
10th year in a
row. Ongoing
improvements
have kept the
Ranger ahead of
the competition
and the addition
of a plug in
hybrid model in
the future will only
enhance the appeal
of the brand.
Escape
with Ford’s new lineup

and Subsidiary Companies
Mazda CX-80 SUV
Mazda’s range of SUV’s has been
extended with the arrival of the
CX80. This 3 row SUV is available
with mild or plug in hybrid engines
and offers customers an option that
sits between the five seat CX60 and
the larger CX90.
Agricentre South
Above, a new Case IH Puma 225 CVT (L) being
delivered in Central Otago, joining forces with the
Case IH Magnum 310.
The JAC T9 ute has been
undergoing extensive trials for the
New Zealand market and is now
available through select dealerships.
JAC Motors
The electric N55 light duty
truck is now joined by a
diesel version powered
by a Cummins engine.
Customers can expect a
first class experience across
New Zealand supported by
Southpac’s service network.
New Holland is introducing a construction range
through selected dealers in New Zealand. Pictured
is technician Jack Millar completing the final
inspection on a New Holland W170D Wheel Loader
before it heads out on demonstration.

and Subsidiary Companies
Southpac Trucks
Southpac
Rotorua team
(Pictured Left)
restored this 1974
Kenworth back
to its original
condition.
Old technology meets
new. Dynes Transports
displayed their hydrogen
fuelled DAF at the Bombay
truck show alongside
classic restored trucks.
Southpac Trucks supported
the Bombay truck show, a
charitable event managed by
industry volunteers. Showcasing
new technology the show also
acknowledged Kenworth’s place
in New Zealand’s transport
history with a display of restored
trucks.
Laurent Contractors, formally a small one-truck
family business founded in 2014, has grown into
a formidable fleet of 10 trucks servicing the rural
Matamata district. Key milestones include acquiring
their first new DAF XF in 2018 and flagship Kenworth
K200 9-axle stock unit. Their success is driven
by hard work, strategic investments and strong
partnerships, including with Southpac’s truck
salesman, Adam McIntosh. The accompanying
photo of Vaughan and Dani Laurent, along with their
impressive lineup of trucks, beautifully illustrates
Laurent Contractors’ growth and dedication.

and Subsidiary Companies
(L-R), Greg Jacobs, Matt Lamb, Richie Gibbons, DJ Pompallier with the prestigious DAF Parts Dealer of the
Year Award for 2024. Awarded to Southpac Trucks for achieving exceptional growth in the parts business and
outstanding rates for customer satisfaction.
Once a year the Agricentre team from Otago and Southland get
together for an annual awards evening where staff catch up with
their colleagues from other branches and are also recognised for
their outstanding contribution to our business. This year Agricentre
celebrated 10 years as a combined New Holland and CaseIH tractor
operation.
Richard Clapperton (L) and Brendan Newland (R) were recognised for
their 25 year contribution and passion for the CaseIH brand.
Qualifications and Congratulations
Automotive Refinisher, Kaleb
Cahill (L) at Avon City Ford,
completed his Level 4 New
Zealand Certificate in Automotive
Refinishing. Pictured with CEO
John Luxton (R).
Service technician Dean Grant
(R) from Agricentre Lorneville
receiving his level 4 Plant and
Equipment qualification from
Keri Youngmen of MITO New
Zealand.
Phoenix Weiss (L) from MS
Motors achieved her Level 5 NZ
Certificate in Electric Vehicle
Automotive Engineering.
Pictured with Service Manager
Kane Squire (R).

and Subsidiary Companies
Honouring a Legacy: The 25-Year Gold Watch Award
(Left-Right) Bruce Cullen, Botany Service Manager, Arvind Lala, Trade Parts Warehouse Manager,
Suresh Kumar, Parts Interpreter and Grant Berry, Technician, from South Auckland Motors, receive their
gold watch from CEO, Michael Tappenden (Centre).
We are honoured to also recognise four other individuals who have shown outstanding dedication to the
group. Mike Tribe 25 years, Nick Mundy 35 years, Kerry Nolan 40 years and Wayne Ewing 50 years.
In 2024 we said goodbye to David Wills, CEO of
Ruahine Motors. David retired in December after
leading the dealership and we wish him well.
David, Right, celebrates his new chapter and 13
years of leadership with Team Ruahine. Below
David, and his wife Susie, receive a retirement gift
from the Board and CEO of CMC.
David Wills
CEO - Ruahine Motors

and Subsidiary Companies
The Company is able to send shareholders e-mail notifications of the announcement and release of its half year (in February) and full year
results (in August) and of the Annual Report (in September). If you are not already receiving these e-mail notifications then to register
for this service you can send an e-mail to our Share Registry at ecomms@computershare.co.nz from the e-mail account you wish to
receive the notifications to, with “Email Notifications” in the subject line. You will need to record the full name your shares are held in
and the relevant CSN/shareholder number. You can find that number on your dividend statement or Securities Transaction Statement.
Walter Ramsay (L), Groomer at Avon City Motors,
receives his award from John Luxton, CEO.
Peter Calvert (L), Supervisor in the Avon City Motors
Panel & Paint shop receives recognition for his 25
years service from John Luxton, CEO.
After 40 years of service to the
Group we say farewell to Rob
Bain. Rob started with the
Group in 1984 and went on to
become the CEO of Dunedin
City Motors. We wish him a
long and happy retirement.
Rob is pictured here with Alex
Gibbons, Group CEO (L) and
Ashley Waugh, Chair (R).
Rob Bain
CEO - Dunedin City Motors

PO Box 6159
Marion Square
Wellington 6141
Level 6
57 Courtenay Place
Wellington 6011
Telephone 04 384-9734
Email cmc@colmotor.co.nz
Website www.colmotor.co.nz
Printed on Recycled Paper

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Results announcement


CMO

Results for announcement to the market
Name of Issuer The Colonial Motor Company Limited
Reporting Period 6 months to 31 December 2024
Previous Reporting Period 6 months to 31 December 2023
Currency NZ dollars
Amount (000s) Percentage change
Revenue from continuing operations 507,887 2.6%
Total Revenue 507,887 2.6%
Net trading profit from continuing operations 6,940 (23.8)%
Net profit from continuing operations
attributable to security holders
6,921 (25.3)%
Total net profit attributable to security
holders
6,921 (25.3)%
Interim Dividend
Amount per Quoted Equity Security NZD $0.15000000
Imputed amount per Quoted Equity Security NZD $0.05833333
Record Date 21 March 2025
Dividend Payment Date 31 March 2025

Current period Prior comparable
period
Net tangible assets per Quoted Equity
Security
$9.07 $9.24

Commentary
A commentary to assist in the interpretation of the
figures in this announcement is provided in the
attached unaudited Half Year Report.

Authority for this announcement
Name of person

authorised to make this
announcement
Jack Tuohy, Company Secretary
Contact person for this announcement Ash Waugh, Chair
Contact phone number 04 384 9734
Contact email address cmc@colmotor.co.nz
Date of release through MAP

19 February 2025

Unaudited financial statements accompany this announcement.

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Distribution Notice


CMO
Page 1 of 1


Section 1: issuer information
Name of issuer The Colonial Motor Company Limited
Financial product name/description Ordinary shares
NZX ticker code CMO
ISIN (If unknown, check on NZX website) NZ CMOE0001S7
Type of distribution
(Please mark with an X in the relevant box/es)
Full Year Quarterly
Half Year X Special
DRP applies
Record date Close of trading on: 21 March 2025
Ex-Date 20 March 2025
Payment date 31 March 2025
Total monies associated with the distribution $4,904,194.80
Source of distribution Retained earnings
Currency NZ dollars
Section 2: distribution amounts
Gross distribution $0.20833333
Gross taxable amount $0.20833333
Total cash distribution $0.15000000
Excluded amount (applicable to listed PIEs) $0.00000000
Supplementary distribution amount $0.02647059
Section 3:
Is the distribution imputed Fully imputed
Imputation rate applied 28.0%
Imputation tax credits per financial product $0.05833333
Resident withhold tax amount per financial product $0.01041667
Section 4: distribution re-investment plan – not applicable
Section 5: authority for this announcement
Name of person authorised to make this
announcement Jack Tuohy, Company Secretary
Contact person for this announcement Ash Waugh, Chairman
Contact phone number 04 384 9734
Contact email address cmc@colmotor.co.nz
Date of release via MAP 19 February 2025