Mainfreight Annual Report 2022

12
PERFORMANCE Group Managing Director’s Report
13
GROUP GROUP NZ$m NZ$m
NEW ZEALAND NZ$m
REVENUE
PBT
REVENUE
PBT
Opportunities
continue to present
themselves.
We remain confident
of ongoing growth
and expansion.
5,218.3
3,543.8
489.4
262.4
2022 2021 2022 2021
REVENUE
PROFIT
BEFORE TAX
AUSTRALIA AU$m
REVENUE
47.2%
86.5%
PBT
1,130.2
845.6
136.5
97.8
2022 2021 2022 2021
REVENUE
PROFIT
BEFORE TAX
REVENUE
EUROPE EU€m
33.7%
39.5%
PBT
DON BRAID, GROUP MANAGING DIRECTOR
1,175.0
877.2
107.5
71.5
567.9
427.5
31.7
22.4
2022 2021 2022 2020
2022 2021 2022 2020
To our shareholders, customers, and most importantly,
the people of Mainfreight – it is with a great sense of
pride that we provide you all with this annual report
recording the past year’s financial performance, our
interpretation of this record-breaking result and, of more
interest, our view of where Mainfreight is heading.
The financial performance of the past 12 months is
excellent, and reflects:
> The extraordinary economic conditions in all five
regions where we are located, with consumer
spending markedly increased during the period
(particularly across the key customer vertical markets
where we excel),
Our headline results include revenues of $5.2 billion, an
increase of 47.2% on the prior year, and profit before tax
improved by 86.5% to $489.4 million. Net profit after tax
improved 88.9% to $355.4 million.
We do not expect this quantum of profit improvement
to reoccur in the short term; rather we anticipate we will
revert to our normal levels of revenue and profit growth.
Our key business purpose is to provide exceptional
supply chain logistics services utilising our three core
products:
> Domestic Transportation: the movement of freight
both inter- and intra-city within each country location,
REVENUE
PROFIT
BEFORE TAX
1,089.4
AMERICAS US$m
REVENUE
576.9
34.0%
50.3%
100.8
PBT
REVENUE
PROFIT
BEFORE TAX
231.0
REVENUE
ASIA US$m
104.3
28.9
32.8%
41.7%
PBT
> Supply chain congestion with inflated shipping and
air freight costs, which are reflected in our revenues,
> The number of new customers attracted to
Mainfreight as a consequence of our attitude to
delivery of high-quality logistics services, and not least,
> The wonderful efforts of our people, whose
entrepreneurial spirit has found solutions for our
customers in what has been a difficult logistics
environment.
> Warehousing: the stock holding on behalf of our
customers in high-quality storage facilities (with
value-add services including pick/pack, kitting and
distribution),
> Air & Ocean: the movement of export and import
freight between countries around the world.
Linking all three services across the supply chain is a key
focus and a growing initiative. Across our 500 highestspending
customers, 33% now utilise all three divisions.
2022 2021 2022 2021
REVENUE
PROFIT
BEFORE TAX
25.9
88.8%
289.0%
2022 2021 2022 2021
REVENUE
PROFIT
BEFORE TAX
7.0
121.5%
309.4%