GUD Holdings Limited Results for the Half Year Ended 31 December 2020

Financial Highligts

~ Revenue up 10.7% on the prior corresponding period (PCP)

~ Underlying1 EBIT up 17.6% on the PCP

~ Underlying1 NPAT up 18.4% on the PCP

~ JobKeeper payments of $2.8 million were more than offset by employee care and financial support programmes and the incremental COVID-19 operating costs

~ Fully franked interim dividend per share (DPS) of 25 cents, in line with the PCP, representing a payout ratio of 76% of underlying NPAT excluding JobKeeper

GUD Holdings Strengthens Its Automotive Portfolio

GUD Holdings Limited (GUD) today announced that it has entered into an agreement to acquire 100% of the shares in the businesses of Australian Clutch Services Pty Ltd (ACS), and subsidiaries XCLUTCH USA Inc and ACS NZ Pty Limited for an enterprise value of $32 million and is subject to customary purchase price adjustments. ACS achieved a FY20 normalised EBIT of $5.7 million.

Completion of the acquisition is expected to occur on 1 March 2021.

GUD Holdings Limited’s Managing Director and Chief Executive Officer, Mr Graeme Whickman stated “This is a strategic acquisition of a strongly performing business which complements GUD’s automotive portfolio. This acquisition, at a compelling multiple of 5.6 times follows in close succession to GUD’s acquisition of companies formerly comprising AMA’s ACAD business, is further demonstration of GUD’s growth strategy”.