TRA - Turners Automotive Group

[lorraina]

A good fit for Turners.
Customers for life.

[Waltzing]

since its a platform one assumes it can evolve a bit to cater for changing markets.

the more complex the vehicle the more likely it is to go back to its supplier.

market SP is a bit stuck at the moment..

[BlackPeter]

A good fit for Turners.
Customers for life.

Well, yes - that's what I thought as well when I saw the header.

However - its not a car repair chain, it seems to be an online platform (like Uber, AirBnB & similar) to book workshops - and it has been founded by money spinners from Uber and My Food Bag (Oh god ...).

My Auto Shop was founded in January 2020 by Andy Bowie, a former general manager of Uber and Uber Eats NZ, and Richard Wafer, the former COO for My Food Bag.

Lets hope that Todd knows what he is doing ... and Tina makes that working. I am sure somebody will make money with this transaction, but I just can hope it will be the shareholders of TRA vs some fat cats from Uber and My Food Bag.

From a personal point of view  I do appreciate a direct and trustful relationship with our local car repair workshop. I would not see how a money creaming platform like Uber for car repairs could add value in this context.

[Basil]

Great fit. Todd, Aaron and the team are very smart operators.

[Bev]

Be good to know what TRA paid for 50%. 

[winner (n)]

I see Trade Me retained 10%

[Waltzing]

yes BP knowing the history of a system is important but these days owners of some types have Dar  own code readers ..

and computer systems for many are and will be built in for self diags....

dumping that report to an on line platform could allow for automated reviews and automated quotes with a review before final quote...

there is a lot an on line platform could do in the future to enhance the options an owner has..

see it having potential well beyond it present roll out feature set...

[winner (n)]

Todd and Aaron are Directors

[Basil]

Be good to know what TRA paid for 50%. 

Good questions for the team at the annual meeting on 18 Sept.
1. How has trading been year to date for FY25 ?
2. Are you still expecting an uptick in 2H FY25 ?
3. How much did you pay for your investment in https://myautoshop.co.nz/ ?
4. When do you expect that investment to be eps accretive?

[winner (n)]

Good questions for the team at the annual meeting on 18 Sept.
1. How has trading been year to date for FY25 ?
2. Are you still expecting an uptick in 2H FY25 ?
3. How much did you pay for your investment in https://myautoshop.co.nz/ ?
4. When do you expect that investment to be eps accretive?

EPS a accretive ..probably never

Better question 'Great acquisition, tell us how My Auto Shop makes money?"..and then ask how much

[winner (n)]

What came of that strategic investment Turners made in Collaborate / Carly a few years ago?

I take it it was the foundation of the subscription business they

Hardly any mention the subscription business in the Annual Report ......did help width the group emissions reduction by having a greater number of EVs

[Waltzing]

small chips winner...

retail this next year could be slow in all sectors of the market...

this one included which give investors plenty of time in AVE in..

 

[Basil]

Turners on record as expecting a stronger second half...just saying.

[winner (n)]

Turners on record as expecting a stronger second half...just saying.

Hopefully yes because they said "... we expect HY25 to be testing"

As long as H1 >$25m PBT we'd be OK

Update next week?

[Basil]

Might wander along to the annual meeting on 19th if I get time and see if the sausage rolls are hot and shake Todd's hand.  Don't like my chances of getting a hug from Tina but I live in hope and you never know 
Might get an update on trading conditions too.