When the 2021 financial year began, it was still under the initial uncertainty of the Covid-19 pandemic. Over the last 12 months we’ve ridden the highs and lows together, supporting each other through the tough times and celebrating the wins.
Interestingly, the pandemic has created some real bright spots for the automotive aftermarket industry. With people taking their holidays at home and using their cars to commute, a lot of you are busier than ever between lockdowns.
You’ve become key workers providing important services, providing the same fantastic customer service, and helping to keep cars safe on the road.
The strength of your determination and resilience and your faith in our industry are demonstrated in our end of year results. Capricorn is a Member-owned organisation so our results are your results, and we cannot be more proud to announce them.
Member purchases from Preferred Suppliers reached $2.59 billion this financial year, up 18.4% on 2020’s results — and, indeed, it was a record year. Capricorn’s overall profit after tax
was $37.6 million.
These strong results have allowed us to declare a 7% fully franked Dividend to shareholders (representing a 10% return inclusive of tax benefits) as well as a $15.0 million Trade Volume Rebate issued to Members in Bonus Points in proportion to their trade account purchases made throughout the financial year. This will help provide a welcome boost to Members across Australia and New Zealand.
We’re very proud that in such an interrupted and challenging year, Capricorn can still return record value to Members. The above distributions are in addition to the $38.5 million in Capricorn Rewards points that were earned throughout the 2021 financial year bringing total Member returns to $71 million for the 2021 financial year being our highest level of returns in Capricorn history.
In calculating the value of our returns to Members, Capricorn considers both direct and indirect monetary benefits generated for Members. We call this our “Member Value Return”, or MVR.
In 2021 Capricorn returned $92.0 million in pre-tax value to Members, which equates to an after-tax MVR of 28%. That means for every dollar invested by Members they receive a 28% return.
Keep an eye on your inbox for a summary of all financial benefits you have received in your Capricorn Wealth Certificate. This certificate outlines the Rewards Points, Dividends, Trade Volume Rebate, and Mutual Protection Loyalty Rebates (if eligible) you have received over the past 12 months as well as the current value of your Shareholding.
Once you have seen all the hard-earned points on your Wealth Certificate, login to capricorn.coop/rewards to check your points balance and discover all the fantastic products available through Capricorn Rewards**.
The past performance of Capricorn is no indication of future returns.
Shares are issued by Capricorn Society Limited (ACN 008 347 313). No offer of shares is made in this article or publication. An offer of shares will only made in, or accompanied by, Capricorn’s Prospectus and any supplementary prospectus which is available on request or may be viewed at www.capricorn.coop under “Corporate Documents.” Before making any decision to apply for shares you should consider the Prospectus and any supplementary prospectus. Any application for shares must be made on the application form in or accompanying the Prospectus.
** Participation in the Capricorn Rewards is subject to the Capricorn Rewards Terms and Conditions which can be found at www.capricorn.coop/terms-conditions.