Baumart : Half-Year Accounts and Appendix 4D

For personal use only

ABN 87 602 638 531

INTERIM FINANCIAL REPORT

FOR THE HALF YEAR ENDED

31 DECEMBER 2021

CONTENTS only

Page

Contents

useCorporate Directory

Appendix 4D

Review of Operation personalDirectors' Report

Consolidated Statement of Profit or Loss and Other Comprehensive Income

Consolidated Statement of Financial Position

Consolidated Statement of Changes in Equity

Consolidated Statement of Cash Flows

Condensed Notes to Consolidated Financial ForStatements

Directors' Declaration

Independent Auditor's Review Report

Auditor's Independence Declaration

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2

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10

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CORPORATE DIRECTORY

Directors

Mr Matthew Logan - Executive Director Mr Ben Talbot - Executive Director

Mr Berthus Budiman - Non-Executive Director Mr Anson Gan - Non-Executive Director

Company Secretary

Ms Natalie Teo

Principal Place of Business

15 McCabe Street

North Fremantle WA 6159

Telephone: [phone]

Website: www.baumart.com.au

Registered Office

15 McCabe Street

North Fremantle WA 6159

Telephone: [phone]

Share Registry

Advanced Share Registry Services Pty Ltd

110 Stirling Highway

Nedlands WA 6009

Telephone:	[phone]
Facsimile:	[phone]

Auditor

Stantons International Audit and Consulting Pty Ltd Level 2, 40 Kings Park Rd

West Perth WA 6005

Australian Securities Exchange

Australian Securities Exchange Limited

Level 40, Central Park,

152-158 St George's Terrace

Perth WA 6000

ASX Code:

BMH

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A P P E N D I X 4 D

F O R T H E H A L F Y E A R E N D E D 3 1 D E C E M B E R 2 0 2 1

The following information is provided to the ASX under listing rule 4.2A.3

Company Name:	BauMart Holdings Limited (the Company)
ABN:	87 602 638 531
Reporting Period:	Half year ended 31 December 2021
Previous Reporting Period:	Half year ended 31 December 2020

RESULTS FOR ANNOUNCEMENT TO THE MARKET
		31 December	Change up/
	31 December
	2021	2020	(down)
			%
$ Revenue from Ordinary Activities ($'000)	2,964	2,515	17.85%
$ Profit (loss) from ordinary activities after tax ($'000)	219	3,559	-93.85%
$ Net profit (loss) attributable to members ($'000)	219	3,559	-93.85%
Net tangible assets per security	0.0382	0.0383	-0.26%

DIVIDENDS

No dividends have been paid or declared by the Company since the beginning of the current reporting period. No dividends were paid for the previous reporting period.

FOREIGN ENTITIES
Foreign entities included in the Group are outlined below:
	Country of
Entity	Incorporation
Eco Pallets NZ Limited	New Zealand

FOR FURTHER INFORMATION

The Independent Auditor's Review Report contains an emphasis of matter in relation to going concern.

Further information to assist in the understanding of the financial results presented above is provided throughout this Interim Financial Report.

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R EVIEW OF OPERAT IONS

F O R T H E H A L F Y E A R E N D E D 3 1 D E C E M B E R 2 0 2 1

GLOBAL SUPPLY CHAIN ISSUES

A concerning issue focusing our attention is the widely reported supply chain bottlenecks. Container shortages and shipping cost pressures have caused supply chain issues for our business divisions.

Production capacity challenges and rising inflation is affecting every import and distribution business in Australia and the rest of the world. The flow on effects of global stimulus packages has significantly increased demand for goods and services which has resulted in supply shortages.

This is a theme we see playing out during 2022 and we remain alert to the effect this will have on our division revenue.

GROUP OPERATIONS

Despite these challenges posed by the global supply chain issues, Group top line revenue grew to $2.96m for H1 FY22 (H1 FY21: $2.51m), an increase of 18%. The Group achieved a net profit of $219k (H1 FY21: $3.56m).

MATERIALS HANDLING UPDATE

Top line revenue from this division increased during the period to $2.83m (H1 FY21: $2.3m), an increase of 23%. Revenue captured has been significantly affected with shipping delays caused by global supply chain and peak season issues.

SOURCE & PROCURE UPDATE

The division continued to supply mining consumables, industrial equipment and personal protective equipment during the period. Top line revenue decreased by 92% to $12K (H1 FY21: $154K). Please see Note 21 for more details on progress updates subsequent to period end.

BUILDING MATERIALS UPDATE

Positive finish for the division under the new strategy of supplying through key distributor channels. Top line revenue totalled $123K (H1 FY21: $63K), an increase of 95%.

OTHER ACTIVITIES

The Group's management services contract provided modest recurrent income during the year. Please see Note 21 for more details on progress updates subsequent to period end.

STRATEGIC BUSINESS REVIEW

The strategic business review is ongoing with several key board changes during the half year. Subsequent to the end of the half year, Ben Talbot has joined the Company as an executive director and Michael Crichton has stepped down as a non-executive director. Berthus Budiman, previously an executive director, was being redesignated to a non-executive director role effective 1 February 2022 (see Note 21 for more details).

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