BAP - Bapcor Limited

[divs4ever]

DIVESTMENT OF MTQ ENGINE SYSTEMS

Bapcor Limited (“Bapcor” or the “Company”, ASX: BAP), Asia Pacific’s leading provider of vehicle parts, accessories, equipment, service and solutions, today announces it has entered into a conditional agreement for the sale of MTQ Engine Systems (“MTQ”).

MTQ is a national provider of diesel fuel injection and turbo aftermarket sales and services,distributing and servicing leading global brands.

Bapcor anticipates that completion of the transaction will take place in 1H FY25, subject to standard conditions precedent being satisfied.

The sale of MTQ, whilst small relative to Bapcor’s scale, is consistent with the Company’s stated intention at the FY24 full-year results announcement to simplify its business, reset the cost base and exit non-core businesses.

Bapcor Executive Chair & Chief Executive Officer, Angus McKay said, “MTQ is a highly specialised business providing services that are not core to Bapcor’s offering.

This transaction is an example of our commitment to right-size the Company’s cost base and remove operational complexity.

In consolidating its portfolio, Bapcor will focus on growing in its core markets.”Terms of the transaction are confidential.

– Ends –

i hold BAP


since no sale price has been disclosed , i suspect the sale will be for a trivial ( or token ) amount , i also note that the market did not get excited with this news ( on a mostly up day )

 

[finicky]

Market Matters afternoon report:

• Bapcor (BAP) -2.12% held their AGM and gave a trading update. All on track for their cost out/simplification program, though they guided to a 2H25 skew for the benefits to be realised.
• They’re still doing it tough in the retail division, though trade volumes are holding up.

Not Held

 

[divs4ever]

i hold BAP

am surprised the market took it so well . i was hoping to add

maybe next week

 

[JohnDe]

It is amazing what a dividend announcement can achieve -

 

[divs4ever]

It is amazing what a dividend announcement can achieve -

View attachment 194148

it lifted my spirits as well

i hold BAP

 

[finicky]

Bapcor (BAP) +13.36% 1H25 weaker operating period but a beat driven by divestment of MTQ fuel injection business.

 

[divs4ever]

Executive changes to drive strategic priorities

Bapcor Limited (ASX: BAP), announces that it has restructured the Group Leadership Team (GLT) to implement the reset business strategy.
The changes announced today provide Bapcor with the structure and leadership to drive the strategic priorities and future growth plans for the Company.
Executive General Manager Trade
Trade is key to Bapcor’s business and the foundation of the Company.
The strategy will include Trade’s next phase of growth: enhancing its go-to-market strategy, customer offering and improvements in technology and capability.
With Trade moving into this next phase of growth, Simon Bromell has been appointed as Executive General Manager Trade and will join the business on 28 April 2025.
Simon has a background in delivering outstanding results in complex change and supply chain environments.
Simon was most recently at Orora, where he had been for the past decade, most recently as President of the Beverages division.
Over his career, Simon has held senior executive positions at Fonterra Australia and Mars Corporation.
After 6 years with Bapcor, Steve Drummy, Executive General Manager Trade is leaving the business.
Bapcor recognises his significant contribution to Bapcor and the broader automotive aftermarket industry.
Combining the Specialist Networks and Wholesale businesses
As we have been working through Bapcor’s strategy, it has become obvious that combining the Specialist Networks and Wholesale businesses will build consistency, optimise the network and build scale to be more competitive in the market.
The two businesses will be combined effective 1 July 2025 to form the ‘Networks’ business segment.
This segment will comprise:
• Auto Electrical Group (AEG)
• Commercial Vehicle Group (CVG)
• Wholesale
Craig Magill has been appointed Executive General Manger Networks.
Craig is well placed for this role having been with Bapcor for 13 years.
He is currently Executive General Manager Specialist Wholesale and previously Executive General Manager Trade.
As a result of these changes, Kristoff Keele, Bapcor’s Chief Strategy Officer and Interim Executive General Manager Specialist Networks will leave the business on 30 June 2025.
Executive Chair and Chief Executive Officer, Mr Angus McKay said “These executive changes enhance our capability to implement our strategic priorities which will set the business up for growth.
The reset business strategy will be presented on Monday 28 April 2025 at the Investor Strategy Update at the Queensland distribution centre.
I would personally like to thank Steve and Kristoff for their significant contributions to Bapcor and wish them both well.
”Following these changes, the Bapcor GLT will include:
Angus McKay – Executive Chair & Chief Executive Officer
Simon Bromell – Executive General Manager Trade
Craig Magill – Executive General Manager Networks
Megan Foster – Executive General Manager Retail
Martin Storey – Executive General Manger New Zealand
Abdul Jaafar – Executive General Manager Supply Chain & Procurement
George Sakoufakis – General Counsel & Company Secretary
George Saoud – Chief Financial Officer (recruitment for this role is progressing)
Merryl Dooley – Chief People and Culture Officer
Morris Lieberman – Chief Technology Officer

Ends –

i hold BAP

that is an awful lot of chiefs ( management )

 

[divs4ever]

Kim Kerr appointed Bapcor’s Chief Financial Officer

Bapcor Limited (“Bapcor” or “the Company”) has today appointed Kim Kerr as Bapcor’s Chief Financial Officer (CFO), effective 12 May 2025.
Most recently as CFO of Orica Ltd, Kim is an experienced CFO with 25 years' working in ASX100-listed companies in the mining, manufacturing, chemicals and digital solutions sectors.
Bapcor’s Executive Chair and Chief Executive Officer, Angus McKay said, “After an extensive search,Bapcor is delighted to confirm Kim’s appointment as CFO.
Kim is a seasoned financial executive with experience in leading business improvement, empowering teams and providing strategic guidance.
She will play a pivotal role in implementing Bapcor’s business strategy, which was announced on 28April 2025.”

Kim replaces George Saoud, who resigned as CFO in February 2025. George will remain at Bapcor to support a smooth and effective transition with Kim.

-ends-

i hold BAP

surprisingly not tagged 'price sensitive '

while i am not expecting the needle to move much , i have seen less important releases tagged PS elsewhere

 

[Dona Ferentes]

shares in automotive parts group Bapcor, which owns the Autobarn, Autopro and Burson brands, tanked 26 per cent after it said trading had been weaker than expected in May and June. It also announced $50 million in post-tax writedowns and the exit of three directors.

.
making a habit of it - the disappointment, that is