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│1
ANALYST PRESENTATION – 9M 2011November 9, 2011
│2
Disclaimer
This document contains forward-looking statements, which are based on the current estimates and assumptions by the management of TOM TAILOR Holding AG. Forward-looking statements are characterized by the use of words such as expect, intend, plan, predict, assume, believe, estimate, anticipate and similar formulations. Such statements are not to be understood as in any way guaranteeing that those expectations will turn out to be accurate. Future performance and the results actually achieved by TOM TAILOR Holding AG and its affiliated companies depend on a number of risks and uncertainties and may therefore differ materially from the forward-looking statements. Many of these factors are outside TOM TAILOR Holding AG’s control and cannot be accurately estimated in advance, such as the future economic environment and the actions of competitors and others involved in the marketplace. TOM TAILOR Holding AG neither plans nor undertakes to update any forward-looking statements.
│3
9M 2011 development at a glance: Profitable growths continues
Sales increased by 19% to € 295.3m in 9M; Retail segment grows lfl 5.4% and significantly outperforms the German textile market (-1%)
Expansion of controlled distribution areas well on track
Gross margin increased up to 47.2% in 9M (+110 bps vs. last year´s period)
Recurring EBITDA reached €27.2 m in 9M (€29.3 m)
Outlook for 2011 confirmed assuming consumer confidence remains robust in Q4 2011
│4
Sales overview: growth driven by expansion in the Retail-Segment
Comments
¢Share of international sales reaches 34.8% following 30.9% in 9M 2010
¢Solid growth in all relevant markets
¢63 additional retail stores in 9M 2011
¢Sales increase by 46.1% in Q3 despite strong comparative figures and adverse weather conditions
¢Retail represents 35% of Group sales
¢ Lfl growth of 5.4% in 9M 2011 (market average: -1%)
¢Wholesales sales in Russia confirms new strategy in this region € 8.1m in 9M (+ 62.4%)
¢Wholesale represents 65% of Group sales
+ 18.7%
Sales development TOM TAILOR Group
(€m)
248.8
9M 2010 9M 2011
295.3
+ 7.2%
Sales development Wholesale
(€m)
179.6
9M 2010 9M 2011
192.5
+ 48.6%
Sales development Retail
(€m)
69.2
9M 2010 9M 2011
102.8
│5
+ 285 shop-in-shopsversusDec. 31, 2010
Retail Franchise Multi-labelE-commerce
221 in Europe 155 in Europe 1.726 in Europe ~6.000 worldwide
tom-tailor.de
tom-tailor.at
tom-tailor.nl
POS (as of Sept. 30, 2011)
Controlled
distribution
+ 63 stores
versus
Dec. 31, 2010
15 store openings
Opening of
tom-tailor.be
tom-tailor.fr
Highlights
9M 2011
Retail / B2C Wholesale / B2B
Shop-in-shops
Number of POS
remains stable
Expansion of controlled distribution areas well on track
60-70 new stores 20-25 new stores200-250 new shop-
in-shops
Figure to remain
stable
Further expansion to
strengthen e-
commerce presenceTarget 2011
│6Source: Spiegel Outfit study 7.0 (2011); Spiegel Outfit study 6 (2007)
79
87
71
88
78
87
91
96
97
93
93
93
93
95
95
95
96
96
97
Hugo Boss
Lacoste
TOM TAILOR
Jack Wolfskin
Esprit
Nike
s.Oliver
H&M
Puma
Adidas 2011
2007
Top 10 companies: brand awareness
59
TOM TAILOR: a key winner in the current Spiegel Outfit study – criteria brand awareness
+ 22 %
│7Source: Spiegel Outfit study 7.0 (2011); Spiegel Outfit study 6 (2007)
2011
2007
26
n.a.
39
34
39
41
47
57
34
38
49
51
56
58
59
61
63
70
Reebok
New Yorker
TOM TAILOR
Levi´s
Puma
Nike
Esprit
s.Oliver
H&M
Adidas
38
Top 10 companies: brand ownership
22
TOM TAILOR: a key winner in the current Spiegel Outfit study – criteria brand ownership
+ 27 %
│8Source: Spiegel Outfit study 7.0 (2011); Spiegel Outfit study 6 (2007)
34
46
43
26
43
39
46
58
66
69
76
76
76
76
78
79
80
84
Reebok
Jack Wolfskin
H&M
Esprit
Levi´s
TOM TAILOR
s.Oliver
Nike
Puma
Adidas 2011
2007
41
Top 10 companies: willingness to buy
23
TOM TAILOR: a key winner in the current Spiegel Outfit study – criteria willingness to buy
+ 50 %
│9
n From 2012 onwards, TOM TAILOR will benefit
from direct access to Asmara´s purchasing offices
and infrastructure in Indonesia, Hong Kong,
China, India, Bangladesh, Vietnam, Cambodia and
Pakistan
n TOM TAILOR holds 51% in TOM TAILOR Sourcing
Ltd., Asmara International 49%
TOM TAILOR strenghtensits presence on Asian procurement markets
TOM TAILOR sourcing by fob turnover (country split as of November 2011)
China 32%
India 15%
Europe 8%
Indonesia 12%
Bangladesh 23%
Others 5%
Pakistan 5%
Foundation of TOM TAILOR Sourcing Ltd. with long standing Partner Asmara International
No agency related black box going forward
(direct control of Asian purchasing activities)
Clear visibility on supplier cost calculation
Gross margin improvement expected from
2012 onwards
+
+
TOM TAILOR sourcing by volume 2011 (country split as of November 2011)
China 20%
Banglasdesh 37%India 17%
Indonesia 11%
Europe 8%Pakistan 4%
Others 3%
│10
Gross margin comparison 2009 – 2011:Margin in Q3 2011 above Q3 2010 and 2009
2009
2010
2011
Q1 Q2 Q3
09 10 11 09 10 11
44.544.8
47.0
44.4
50.0
47.6
59.2
41.8
44.4
60.0
38.8
46.7
55.8
42.3
45.8
48.4
45.6
Q4
09 1009 10 11 09 10 11 09 10 11
Wholesale RetailGroup
%
40
50
60
11
│11
10.8
Q4
29.315.83.69.92010
27.217.16.24.02011
9MQ3Q2Q1
Seasonality: Quarterly sales and profitability development
(€m)
98.9
Q4
248.8101.570.976.42010
295.3118.690.386.32011
9MQ3Q2Q1
Q4 2011 EBITDA should also benefit from no additional transport cost
347.7
> 400
FY
Sales development
Recurring EBITDA development
Q4 2011 sales should benefit from price increases and higher share of retail sales
40.1
~ 48
FY(€m)
│12
Dec. 31, 09
new stores in %
existing stores in %
Dec. 31, 10 Dec. 31, 11e Dec. 31, 12e Dec. 31, 13e
n Increasing annual proportion of existing stores as a percentage of
total stores will boost profitability going forward
55% 63% 81% 84%
45% 37%
19% 16%
87number of stores 158 249 309 369
TOM TAILOR profitability: Increasing impact of existing stores on profitability going forward
25
50
75
100%
69%
31%
going forwardpost IPOpre IPO
│13
Outlook for 2011 confirmed
Net sales: > € 400m
EBITDA: approx. € 48m
TOM TAILOR on track to reach 2011 targets assumingconsumer confidence remains robust in Q4 2011
│14
Differentiation criteria from competitors
FINANCIAL HIGHLIGHTS 9M/Q3 2011
│15
Profit & loss 9M 2011 TOM TAILOR Group: Profitable growth continues
Comments
¢Gross profit margin rose from 46.1% to 47.2% mainly due to higher selling prices as of February. Effects partially offset by higher input costs, especially in Q1, and higher level of markdowns in Retail-Segment
¢Recurring EBITDA below last year´s level due to lower gross margin in Q1, opening costs for new stores and a Retail EBITDA below last year´slevel
¢Recurring net income slightly down mainly due to lower operational result
¢Share of international sales increased to 34.8% following 30.9% in 9M 2010
+ 21.4%
- 7.2%
Key figures 9M 2011
Sale
sG
ross
pro
fit
Rec
urr
ing
EBIT
DA
Rec
urr
ing
net
inco
me
(€m)
(€m)
(€m)
(€m)
114.7
9M 2010 9M 2011
139.3
29.3
9M 2011
27.2
9M 2010
- 12.3%
6.5
9M 2010 9M 2011
5.7
+ 18.7%
248.8
9M 2010 9M 2011
295.3
│16
Profit & loss Q3 2011 TOM TAILOR Group: Difficult quarter due to adverse weather and strong comparables
Comments
¢Sales growth in both segments: Wholesale up 6.3%, Retail up 46.1%
¢Sales achieved in core markets represent 88% of Group sales and are up by 14.9%
¢Gross profit margin strongly increased from 44.4% to 46.7% mainly driven by increase in selling prices as well as shortfall of additional air freight costs. Effects partially offset by higher markdowns in the Retail segment
¢Recurring EBITDA slightly exceeded last year´srecurring EBITDA
¢Recurring net income impacted by higher net financials and tax expenses
+ 16.8%
+ 22.8%
+ 8.2%
- 36.4%
Key figures Q3 2011
Sale
sG
ross
pro
fit
Rec
urr
ing
EBIT
DA
Rec
urr
ing
net
inco
me
(€m)
(€m)
(€m)
(€m)
101.5
Q3 2010 Q3 2011
118.6
45.1
Q3 2010 Q3 2011
55.4
15.8
Q3 2010 Q3 2011
17.1
9.9
Q3 2010 Q3 2011
6.3
│17
Profit & loss Segment Wholesale:Strong increase in profitability in Q3 2011
Comments
¢Solid sales increase of 6.3%; Wholesale represents 67% of Group sales
¢Sales shift to Retail segment due to take-over of Franchise stores in Austria and Germany
¢Order intake until Dec. 2011 7.5%, order intake Jan-February 2012 9.8% above previous year
¢Strong increase in gross margin led to a rising recurring EBITDA
¢Recurring EBITDA margin reached 18.3% following 16.9% in Q3 2010
¢Gross margin increased strongly from 38.8% to 42.3% due to higher selling prices and shortfall of additional freight costs. Effects slightly offset by higher salaries in the production countries
+ 6.3%
+ 15.1%
Key figures Wholesale Q3 2011
Sale
sR
ecu
rrin
g EB
ITD
A
(€m)
(€m)
Gro
ss p
rofi
t
(€m)
74.6
Q3 2010 Q3 2011
79.3
29.0
Q3 2010 Q3 2011
33.5
12.6
Q3 2011
14.5
Q3 2010
+ 15.5%
│18
Profit & loss Segment Retail:EBITDA slightly decreases in Q3 2011
Comments
¢Strong sales growth of 46.1%
¢Adverse weather conditions lead to higher level of markdowns in Q3
¢Segment growths like-for-like 2.3% and once again outperforms the German textile market
¢Gross margin reaches 55.8% after 60.0% in Q3 2010 impacted by difficult situation in Q3
¢EBITDA margin reaches 6.6% following 11.8% in Q3 2010
+ 36.0%
Gro
ss p
rofi
t
(€m)
+ 46.1%
- 18.8%
Key figures Retail Q3 2011
Sale
s
(€m)
(€m)
26.9
Q3 2010 Q3 2011
39.3
16.1
Q3 2010 Q3 2011
21.9
3.2
Q3 2010 Q3 2011
2.6Rec
urr
ing
EBIT
DA
│19
Segment Retail: Accelerated growth momentum due to prudent expansion of store portfolio in Q3
* TOM TAILOR South Eastern Europe
26.9 39.3
2.9
3.5
0.6
0.0
Q3 2010 Lfl stores New stores
2010
Expansion
2011
Closings Q3 2011
€m
TT SEE*/Sagmeister
5.4
Recurring EBITDA development
Q3 2010 Q3 2011
2.6
3.2
margin (€m)
11.8%
6.6%
Lower EBITDA margin due to
¢ lower gross margin and
¢pre-opening costs
│20
Capex 9M 2011: Used for expansion in controlled distribution areas
Comments
¢Expansion of controlled distribution areas leads to Capex of € 17.5m (9M 2010 € 19.1m)
¢Wholesale Capex:
§ 285 additional shop-in-shops
§ € 6.0m invested in controlled distribution areas
¢Repair & maintenance Capex of € 0.9m(9M 2010 € 0.9 m)
¢Retail Capex:
§ 63 additional stores in 9M 2011
§ € 8.7m invested in controlled distribution areas
Capex 9M 2011
TOM
TA
ILO
R
Gro
up
Wh
ole
sale
Ret
ail
(€m)
(€m)
(€m)
19.1
9M 2010 9M 2011
17.5
9.6
9M 2010 9M 2011
7.3
9.5
9M 2010 9M 2011
10.2
│21
Cashflow seasonality: Strong cash inflow in Q4
25.4
FY
Operating cashflow 2011 Capex 2011
n CAPEX 2011 completely covered by operating cashflow
n From 2012 onwards, operating cashflow will exceed CAPEX needs
-10.8
-6.6
9.5
-7.9
22.9
15
-10.5
1.0
8.5
-1.0
Q1 Q2 Q3 9M Q4 FY
2010
2011
│22
TOM TAILOR
QUESTIONS? – ANSWERS!
│23
Contact details Investor Relations
Please do get in touch with us:
TOM TAILOR HOLDING AG
Garstedter Weg 14
22453 Hamburg
Dr. Andrea Rolvering
Head of Investor Relations
& Corporate Communications
Tel: +49 (0) 40 589 56 429
Fax: +49 (0) 40 589 56 498
Mobile: +49 (0) 172 399 59 13
Email: [email protected]