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Last edited 2 months ago
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#Market Update
Added 2 months ago

ARB reporting some less than desirable results this morning for the half year ending 31DEC25. Worth nothing this had been flagged in their AGM.

Headline Figures are: total sales revenue down 1%, Australian OEM Sales down 38.2%, Export channels up 8.8% with the US market up 26.1%. Underlying profit before tax down 16.3%. $60 Mil in cash and no debt.

Held IRL and on SM, I'm encouraged by the uptick in sales to the US, and find the explanations behind the drawback in the financials and the Aussy market reasonable.

Shareprice is down 12% at market open and 20% over the last 12 months, might be a chance to top up. I'm not worried yet but keen to hear the bear case if anyone is?

Market-Update.PDF

#Results
stale
Last edited 7 months ago

ARB putting up a decent result in a challenging environment. Decent sales growth with a bit of a hit to NPAT.

Challenges include, the Aussie dollar trading at an all time low against the Thai Baht (where a lot of the products are made), Tariffs against imports to the US, difficulty attracting and retaining skilled labor in Aus and around a 15-20% reduction in new car sales across the key models to ARB.

On the positive side, export markets have all seen growth, a lot of the Aussie stores are seeing refits and investments as well as the HQ, investments into an online portal and digital marketing. The big one is the US strategy seems to be paying off, having reached profitability milestones early despite a fairly challenging economic and political environment.

I'm encouraged by the fact they're still seeing sales growth in a challenging environment, and they're taking the time and spending the money to shore up the foundations. If they can do that in a challenging environment I'm keen to see what they can do if/when they can get on a roll with new car sales and a more favourable consumer spending environment in Australia (if there is one thing that aussies love more than seeing equity grow in their property, it's stripping that equity out to buy a caravan and do up the 4x4).

As always time will tell but I feel they're positioning themselves well for the future, just need to wait for it to arrive now.

-Held irl and on SM

3d923974fdf33c6f4c64384db0a114d535666a.png

#Insider buying
stale
Last edited 12 months ago

I topped up on ARB through the week. Apparently some insiders did too, to the tune of about a million dollars. My addition was somewhat more modest, but always nice to have insider alignment.

Appendix-3Y-x-2.PDF