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Aeffe — Investor Presentation 2017
Mar 9, 2017
4140_ip_2017-03-09_b08b6870-c3a2-4f22-8262-ebd767eae274.pdf
Investor Presentation
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AEFFE 2016 Consolidated Financial Results Presentation 9th March 2017
FY 2016 Key Facts
- ! Consolidated Revenues +4.7% at € 280.7m, (+4.4% at current exchange rates)
- ! Consolidated EBITDA for € 25.2m, compared to an EBITDA of € 19.3m in 2015, with a €5.9m increase (+30%)
- ! Consolidated Net Profit for the Group at €3.6m, compared to a Net Profit of € 1.5m in 2015, with a €2.1m increase (+139%)
- ! Consolidated Net Financial Debt of € 59.5m (€ 80.5m as of 31 December 2015), with a €21m improvement (-26%)
- ! 255 Mono Brand Stores
Net Sales Breakdown by Division(1)
1Q 3 2Q 3Q 4Q
Net Sales Breakdown by Brand
Net Sales Breakdown by Region
33,1 17,9 2,3 6,7 16,2 27,5 12,3 2,5 4,4 14,9 35,9 16,3 2,5 5,9 15,3 29,6 13,5 1,8 5,9 16,2 0,0 10,0 20,0 30,0 40,0 50,0 60,0 70,0 80,0 90,0 100,0 110,0 120,0 130,0 Italy Europe Russia USA RoW % on Total Sales Italy Europe Russia USA RoW 22% 22% 3% 45% 8% +5.3% * +6.4% * (0.7%) * +2.9% * +3.2% * (1) 126,1 60,0 9,1 22,9 62,6
FY 2016 FY 2015
(1) Italy and Russia excluded
1Q * At constant exchange rates
2Q 3Q 4Q
Net Sales Breakdown by Channel
* At constant exchange rates
1Q 2Q 3Q 4Q
Mono-brand Stores Network
| DOS | |
|---|---|
| FY16 | FY15 | |
|---|---|---|
| Europe | 50 | 45 |
| USA | 2 | 3 |
| Asia | 139 | 137 |
| Total | 191 | 185 |
Income Statement – FY 2016/2015
Summary Balance Sheet
Cash Flow Statement
(€m)
| FY 16 | FY 15 | |
|---|---|---|
| PBT | 8,3 | 2,9 |
| Depreciation & Amortisation | 15,1 | 13,5 |
| Provisions & Impairments | 1,3 | (1, 9) |
| Taxes | (3,6) | (3,6) |
| Net Interest | 1,8 | 3,0 |
| Change in other liabilities / (assets) | (12,2) | (1,1) |
| Operating Cash Flow | 10,7 | 12,8 |
| Capital expenditure for intangible assets | 0,9 | (2,0) |
| Capital expenditure for tangible assets | (3,3) | (5,0) |
| (Increase) / decrease in investments in other fixed assets | 0,1 | (0, 1) |
| Cash Flows from Financing Activities | (2, 3) | (7,1) |
| Free Cash Flow | 8,4 | 5,7 |
| Equity Issue | 0,0 | (0,1) |
| Change in short term debt | (0,7) | 1,4 |
| Change in long term debt | (1, 5) | (0,7) |
| Net Interest | (1,8) | (3,0) |
| Cash Flows from Financing Activities | (3, 9) | (2,4) |
| Cash and cash equivalents at the beginning of the year | 10,0 | 6,7 |
| Cash Flow of the Period | 4,5 | 3,3 |
| Cash and cash equivalents at the end of the year | 14,5 | 10,0 |
Company Profile
- N° of shares outstanding: 107,362,504
- Italian Stock Exchange STAR Segment
- Specialist: Mediobanca S.p.A.
- Tickers: AEF IM (Bloomberg) AEF MI (Reuters), AEF (Borsa Italiana)
Share Information Investor Relations
- Investor Relations
- AEFFE S.p.A
- Annalisa Aldrovandi
- +39 0541 965494
[email protected]
www.aeffe.com
Income Statement – Full Year 2014-2016
(€m)
| 2016A | 2015A | 2014A | |
|---|---|---|---|
| Net Sales | 280,7 | 268,8 | 251,5 |
| % change | 4,4% | 6,9% | 0.2% |
| Other Revenues | 6,8 | 5,2 | 4,3 |
| Total Revenues | 287,5 | 274,0 | 255,9 |
| % change | 4,9% | 20,1% | (1.0%) |
| Raw Materials Costs | (90,7) | (86, 2) | (77, 9) |
| Service Costs | (81,3) | (79, 2) | (68, 6) |
| Cost for use of third parties assets | (22,8) | (23,5) | (21, 2) |
| Personnel | (63, 5) | (61,1) | (58, 6) |
| Other Operating Expenses | (4, 0) | (4,7) | (3,8) |
| Total Operating Expenses | (262, 3) | (254,7) | (230, 2) |
| EBITDA | 25,2 | 19,3 | 25,7 |
| Margin (% of Net sales) | 9,0% | 7,2% | 10,2% |
| Depreciation and Amortisation | (15,1) | (13, 5) | (13,7) |
| EBIT | 10,1 | 5,9 | 12,0 |
| Margin (% of Net sales) | 3,6% | 2,2% | 4,8% |
| Net Financial Income / (Expenses) | (1,8) | (3,0) | (5, 9) |
| PBT | 8,3 | 2,9 | 6,1 |
| Margin (% of Net sales) | 3.0% | 1.1% | 2,4% |
| Taxes | (4.0) | (1,1) | (2,1) |
| Net income before Minorities | 4,4 | 1,70 | 4,01 |
| Margin (% of Net sales) | $1,6\%$ | 0,6% | 1,6% |
| Minority Interests | (0,7) | (0, 2) | (1,3) |
| Net Income for the Group | 3,6 | 1,5 | 2,7 |
| Margin (% of Net sales) | $1,3\%$ | 0,6% | 1.1% |
Disclaimer
This presentation is being furnished to you solely for your information on a confidential basis and may not be reproduced or redistributed to any other person.
This presentation does not constitute or form part of any offer to sell or invitation to purchase or subscribe for, or otherwise acquire or dispose of any Aeffe S.p.A. securities.
This presentation includes forward-looking statements which are based on the Company's management's current views with respect to future events and financial and operational performance of the Company and its subsidiaries. These forward-looking statements are subject to risks and uncertainties. In light of these risks and uncertainties, the events described in such forward-looking statements may not occur and any targets or projections may differ materially from those expressed in or implied by these statements due to any number of different factors.
You are cautioned not to place undue reliance on the forward-looking statements contained herein, which are made only as of the dater of this presentation. Aeffe S.p.A. does not undertake any obligation to publicly release any updates or revisions to any forwardlooking statements to reflect events or circumstances after the date of this presentation.
Any reference to past performance or trends or activities of Aeffe Group shall not be taken as a representation or indication that such performance, trends or activities will continue in the future.