Investor Presentaiton
Strategic Rationale
Greater earnings diversification to convenience and the broader retail sector
1. Diversifies earnings
Convenience & Mobility (C&M) gross profit ($M) 1
FY2022 (incl.
Coles Express)
Post OTR Group
2. In an attractive sector
Australian convenience sales ($BN)2
250
3.6% CAGR
10.1
9.2
9.4
8.3
8.4
8.6
8.8
200
7.9
7.6
VIVA
EnergyAustralia
3. With significant further growth potential
Addressable market by category ($BN)³
OTR has diversified across
multiple sectors
For personal use only
53%
68%
32%
47%
150
100
50
0
2014 2015 2016 2017 2018 2019 2020 2021 2022
Fuel
retailing
Coffee
shop
Convenience Tobacco
QSR
Supermarkets Addressable
& grocery
market
1.
■Shop Fuel
Gross profit from convenience sales
increases from ~30% (including Coles
Express) to ~50%.
Convenience sector has generated 9+ yrs of
consecutive sales growth, highlighting solid and
defensive growth characteristics.
Food & Beverage has been the key growth driver
(+16.7% to $5.4BN in 2022), more than offsetting a
decline in tobacco sales.
•
•
Increase in gross margin from non-fuel sales based on OTR FY2023 June-end relative to Viva Energy's pro forma FY2022 (Dec-end) period, including Coles Express.
2. Source: AACS State of Industry 2022 report.
1234
3. Sources: Australian Bureau of Statistics (2022), IBISWorld Reports, Australia, 2022-2023, Australasian Association of Convenience 2022 State of the Industry Report.
4. Combined sales based on Convenience & Mobility pro forma FY2022 result (including Coles Express) and OTR Group FY2023 (June-end) forecast.
Expands addressable market by ~5x to more than
$200BN.
Creates opportunity to grow on a combined basis
from $12.8BN of retail sales (at ~6% of market)4
through network and existing retailing capability.
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