3Q19 3Q19 RE RESULT SULTS S PR PRESENTA ESENTATION TION WARSAW 19 TH NOVEMBER 2019
Disclaimer This is presentat atio ion (th the “Presentation”) was pre repar ared by by LPP SA SA (the “Company”) with a due car are. Still ll, it it may con ontain certain in in inco consis istencie ies or or omis issio ions. The Pre resentat atio ion does not ot con ontain a co complete or or thorou ough fin inan ancia ial anal alysis is of of th the Com ompan any and does not present its stan anding or or prospect cts in in a co comprehensiv ive or or in in-depth man anner. Therefor ore, an anyon one who in intends to to mak ake an an in inve vestment decis isio ion with respect ct to to the Com ompany should ld re rely ly on on the info formatio ion dis iscl closed in in the offic icia ial report rts of of the Company, publis ished in in acco cordan ance wit ith the laws applic icable to to the Company. This is Presentation was prepared fo for inform rmation purp rposes on only an and doe oes not ot con const stit itute an an offer offer to to buy or or to to sell sell an any fi finan ancia ial instr struments. The Presentation may con ontain in 'for orward rd-lo look oking state tements'. How owever, such stat atements cannot be be tre reate ted as as assurance ces or or proje ject ctio ions of of any expected future result lts of of the Company. Any st statements concerning expect ctations of of fu futu ture fin inancia ial results cannot ot be be understo tood as as gu guarantees that at any such results will ll actu tuall ally be be achie ieve ved in in future. The expectat atio ions of of the Man anagement Boar ard are are based on on their ir current knowledge and depend on on many fact ctor ors due to to whic ich the actu tual al result lts achie ieved by by the Com ompany may ay diff iffer materia iall lly fro rom the results presented in in this is document. Many of of those facto tors ar are beyond the awar areness and contro rol of of th the Com Company or or th the Company’s ab abili lity to to for forese see th them. Neither th the Com ompany, nor its dire irector ors, off ffic icers, advis isors, nor re representativ ives of of any such ch persons ar are lia iable le on on acco count of of any re reason resulting fr from any use of of this is Presentation. Additio ionall ally, no no in info form rmatio ion contain ined in in th this is Presentation con onstitu itutes any re representatio ion or or war arra ranty of of the Com ompany, its off ffic icers or or dire irecto tors, ad advis isors or or representatives of of any of of th the ab above persons. The Presentation an and the for orward rd-lo look okin ing stat atements speak ak only as as at at the date of of th this is Pre resenta tatio ion. These may not ot be be in indic icat ativ ive of of results or re or developments in in fu future periods. The Com ompany does not undertak ake any oblig igat atio ion to to revie iew, to to co confir irm or or to to release publicl icly an any revis isio ions to to any for orwar ard-lo look okin ing stat atements to to refl flect ct eve vents that at occur or or cir ircumstance ces th that aris ise aft fter th the dat ate of of this Pre th rese senta tatio ion. The Company publis ished the in inform rmation on on the planned bon ond is issuan ance in in it its cu curr rrent report rt 16 16/2019 date ted 13 13.09 09.2019. In Infor ormat atio ion presented here rein in is is not dis iscl closed as as a part rt of of mark rket soundin ing in in the meaning of of art rt.11 11 of of Regulatio ion (E (EU) No No 596/2014 of of the Euro ropean an Par arlia iament and of of th the Cou ouncil of of 16 16 April 2014 on on mar arket abuse (M (Mark rket Abuse Regu gula latio ion) and re repeal alin ing Dire irective ive 2003/6/EC of of the Euro ropean an Parl rlia iament and of of the Council and Com ommis issio ion Dire irectiv ives 2003/124/EC, 2003/125/EC and 2004/72 72/EC. In In part rtic icular ar by by pre resenting this is in info form rmation neither the Com ompany nor the Deal aler aim at at gaugin ing the in interest of of pote otentia ial inve vestor ors in in a poss ossib ible le tra transactio ion an and th the con conditio itions re relatin lating to to it it. G L O B A L A S P I R A T I O N S 2
1. 3Q19 financial results 2. Key corporate events 3. 2019 and 2020 outlook G L O B A L A S P I R A T I O N S 3
On On-line and off-line growth continues OFF -LINE 1,746 STORES 39 COUNTRIES +12.8% m2 +5.7% LFL + 12.6 % 30 COUNTRIES ON -LINE GROUP REVENUES 24 COUNTRIES +47% SALES G L O B A L A S P I R A T I O N S 4
LPP’s presence in 39 countries 31 22 No. of 323 30.09.2019 YoY 24 stores 3 LPP GROUP 1,746 + 32 1 908 19 Reserved 453 + 2 88 99 51 6 Cropp 362 0 29 6 26 51 House 319 - 7 5 21 Mohito 290 - 1 25 Sinsay 302 + 46 Outlets 20 - 8 3 on-line + off-line on-line off-line 1 1 2 1 G L O B A L N E A S P I R A C J E 5 5
LFL and e-commerce growth LF LFL L DYN DYNAMICS ON-LI ON LINE SA SALE LES (local cur currencies) (PLN PLN m) 258.1 14.6% 252.2 15.2% 12.9% 226.6 192.2 11.4% 9.2% 178.5 150.5 146.4 130.9 3.6% 4.2% 74.8 2.3% 1.3% 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 LF LFLs wer ere posi positive in in Augu gust and d Sep September 201 2019. Po Positive LF LFLs Ls in in 3Q 3Q19 at Crop ropp, Ho House, Mohito and d Sin Sinsay. • In 3Q19 LF LFLs Ls wer ere pos positive in in half of co countries pr present (the high ighest in in Uk Ukraine, Russia, Romania and the UK UK). . • Double-digit e-commerce gro growth (+ (+51 51% % Yo YoY) Y) in in 3Q 3Q19 due due to de development of e-stores outside of Po Polan land, in internet • marketing outlay lays and d ch changin ing cu customer habi bits in in Po Poland (stores pa partiall lly clo closed on Sun Sundays). On-line sales amo On mounted to 11 11.4% % of rev revenues from rom Po Polan land and 9.7% grou group rev revenues in in 3Q19. . In 3Q19 Po Polan land • constituted 55% co % of e-commerce rev revenues. G L O B A L A S P I R A T I O N S 6
Growth in all brands REVENUES BY REV BY BR BRANDS 3Q19 FL 3Q FLOORSPACE (PLN LN m) (by brands) Reserved + 3% YoY 943 tys. m2 3Q18 3Q19 YoY + 12% YoY Cropp 325 LPP GROUP 1,035.4 1,168.0 12.8% + 12% YoY Reserved 584.9 643.1 10.0% House 266 Cropp 126.4 142.1 12.4% +9% YoY Mohito 212 House 112.4 123.1 9.6% + 41% YoY Sinsay 295 Mohito 106.2 111.9 5.3% + 51% YoY Sinsay 94.7 137.7 45.5% E-commerce 227 Outlets 10.8 10.1 -6.3% Other 81 In n 3Q19 Res Reserved, , Cr Cropp and nd Moh ohito ge generated mo more revenues fr from abroad th than fro from Pola oland. • The The fa fastest t sa sales gro growth was rec ecorded by y Sin insay (su successful co collections and dyn ynamic c ne network dev evelopment) and • str streetwear brands lik like Cr Cropp and nd Ho House (co contin inuatio ion of of YoY oY co collection im improvements ts, flo floorspace gro growth). Res Reserved revenues gre grew les less dyn ynamically th than flo floorspace – co coll llect ctions wer ere mo more fa favourably acc ccepted by y cu cust stomers • abroad th than in Pol oland and nd th there was fa faster mig migratio ion of of sel selected co collectio ions (e.g. kids kids) to to internet. G L O B A L A S P I R A T I O N S 7
Foreign revenues exceed Polish ones REV REVENUES BY BY REG REGIONS 3Q 3Q19 FL FLOORSPACE (PLN LN m) m) (by reg egions) ths m2 3Q18 3Q19 YoY Poland 1,084 + 4% YoY LPP GROUP 1,035.4 1,168.0 12.8% Europe 624 + 26% YoY Poland 507.2 529.7 4.4% CIS 630 Europe 261.8 337.8 29.0% + 27% YoY CIS 259.0 292.1 12.8% ME 10 + 19% YoY ME 7.3 8.4 15.1% In n 3Q19 for foreign revenues exc exceeded dom omestic on ones. • Eur European revenues wer ere pos osit itively aff ffected by y flo floorspace dev evelopment, t, esp especially in n th the SEE region, and nd stro strong • rec eceptio ion of of th the e co coll llectio ion by y clie clients ts fr from Wes estern Eur Europe. . Sales gr growth in CI CIS co countries in 3Q19 (Ru Russia, Uk Ukraine) and nd ne new ma market t impact ct (Ka Kazakhstan). Gr Growth in ME E in 3Q19 • due ue to to dev evelopment t in n Isra srael. Among co countries, th the hi highest t no nominal YoY oY revenue gr growth was rec ecorded in n Ru Russia and nd Pola oland. • G L O B A L A S P I R A T I O N S 8
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