ae f f e f ir st quar te r 2020 consolidate d f inanc ial
play

AE F F E F ir st Quar te r 2020 Consolidate d F inanc ial Re - PowerPoint PPT Presentation

AE F F E F ir st Quar te r 2020 Consolidate d F inanc ial Re sults Pr e se ntation 13 th May 2020 1Q 2020 Ke y F ac ts Consolidate d Re ve nue s a t 76.2m (-25.4% a t c urre nt e xc ha ng e ra te s); Consolidate d E DA fo r


  1. AE F F E F ir st Quar te r 2020 Consolidate d F inanc ial Re sults Pr e se ntation 13 th May 2020

  2. 1Q 2020 Ke y F ac ts  Consolidate d Re ve nue s a t € 76.2m (-25.4% a t c urre nt e xc ha ng e ra te s);  Consolidate d E DA fo r € 8.6m (11.3% o f sa le s), c o mpa re d to a n E BI T DA o f € 26.6m BIT (26.0% o f sa le s) in 1Q 2019, with a € 18m de c re a se  Ne t Pr oup a t 4 tho usa nds o f E uro , c o mpa re d to a Ne t Pro fit o f 11.840 ofit for the Gr tho usa nds o f E uro in 1Q 2019, with a 11.8 tho usa nds o f E uro de c re a se  Consolidate d F RS 16 e ffe c t o f € 57.6m, c o mpa re d to € 34.5m a s o f inanc ial De bt ne t of IF 31 Ma rc h 2019, with a € 23.1m inc re a se (€ 39.4m a s o f 31 De c e mb e r 2019)  220 Mono Br and Stor e s 2

  3. e akdown by Division (1) Ne t Sale s Br 1Q 2020 1Q 2019 (€m) (€m) % on T ota l Sa le s % on T ota l Sa le s 77,9 80 80 Footwear & Leather Footwear Goods 30% & Leather 36% Goods 70% 64% 54,4 Prêt à 60 60 Prêt à porter porter (30% )* vs 1Q 2019 40 40 30,7 33.3 (7.9%) * vs 1Q 2019 20 20 0 0 Prêt à p orter F o otwea r & L e a the r Go o d s Prêt à p orter F o otwea r & L e a the r Go o d s * At c o nstant e xc hang e rate s 1Q (1) Be fo re inte r-divisio nal e liminatio ns 3

  4. Ne t Sale s Br e akdown by Br and 1Q 2020 1Q 2019 (€m) (€m) % on T ota l Sa le s % on T ota l Sa le s 80 80 Pollini 12% Philosophy di 71,4 Lorenzo Serafini 10% 10% 6% 6% Others 3% 74% 3% 70% Alberta 56,2 11% Ferretti 60 7% (21.3%) * 60 Moschino 40 40 20 20 7,9 11,0 10,4 5,4 4,3 (24.2%) * 6,6 (51.1%) * 2,4 (35.3%) * 2,6 (13.1%) * 0 0 Al b e rta Phi losop hy Mo sc hino Polli ni Others Al b e rta Phi losop hy Mo sc hino Polli ni Others F e rretti di di F e rretti Lorenzo Serafini Lorenzo Serafini * At c o nstant e xc hang e rate s 1Q 4

  5. Ne t Sale s Br e akdown by Re gion 1Q 2020 1Q 2019 (€m) (€m) % on T ota l Sa le s % on T ota l Sa le s Asia & Asia & RoW 46,1 RoW Europe Europe 20% 23% 27% 27% 5% America 5% America 40,0 36,5 40,0 48% 45% (21.0%) * Italy (1) Italy (1) 27,8 23,2 20,7 (10.7%)* 20,0 20,0 15,4 (44.2%) * 3,6 5,1 (31.4%) * 0,0 0,0 I ta ly E uro p e Asi a & RoW Ame ri c a I ta ly E uro p e Asi a & RoW Ame ri c a (2) (2) (1) (1) (1) I T AL Y sale s inc ide nc e o n to tal re ve nue s adjuste d b y fo re ig n c usto me rs e ffe c t and ro yaltie s inc o me is e stimate d e q ual to 36% and 32% in Q1 2020 and i n Q1 2019 re spe c tive ly. 1Q (2) I taly e xc lude d * At c o nstant e xc hang e rate s 5

  6. Ne t Sale s Br e akdown by Channe l 1Q 2020 1Q 2019 (€m) (€m) % on T ota l Sa le s % on T ota l Sa le s 80 80 75,7 Retail Retail 23% 23% 3% 4% Royalties Royalties 73% 74% 55,6 60 60 Wholesale (26.6%) * Wholesale 40 40 23,3 17,9 (23.2%) * 20 20 2,7 3,2 (16.1%) * 0 0 Wholesa le Re ta il Ro ya l ti e s Wholesa le Re ta il Ro ya ltie s * At c o nstant e xc hang e rate s 1Q 6

  7. Mono-brand Stores Network DOS 1Q20 F Y19 E uro p e 42 42 Am eric a 2 3 Asia 16 16 T ota l 60 61 F r anc hising 1Q20 F Y19 E uro p e 39 40 Am eric a 1 1 Asia 120 122 T ota l 160 163 7

  8. Inc ome State me nt – 1Q 2020/ 2019 1Q 20 1Q 19 (€m) Ne t S a le s 76,2 102,2 % c ha ng e (25,4%) Othe r Re ve nue s 2,7 2,8 T ota l Revenues 78,9 105,0 % c ha ng e (24,8%) Ra w Ma te ria ls C o sts (23,4) (30,1) S e rvic e C o sts (26,3) (27,7) C o sts fo r use o f third p a rtie s (1,8) (2,0) Pe rso nne l (17,3) (17,8) Othe r Op e ra ting E xp e nse s (1,5) (0,8) T o ta l Op e ra ting E xp e nse s (70,3) (78,4) E BIT DA 8,6 26,6 Ma rg in (% o f Ne t sa le s) 11,3% 26,0% De p re c ia tio n a nd Am o rtisa tio n (6,8) (6,7) E BIT 1,8 19,9 Ma rg in (% o f Ne t sa le s) 2,3% 19,5% Ne t F ina nc ia l I nc o m e / (E xp e nse s) (0,8) (0,8) P rofit b efore ta xes 1,0 19,1 Ma rg in (% o f Ne t sa le s) 1,3% 18,7% T a xe s (1,4) (6,2) Net inc ome/ (loss) b efore Minorities (0,5) 12,9 Ma rg in (% o f Ne t sa le s) (0,6%) 12,6% Mino rity I nte re sts 0,5 (1,1) Net Inc ome/ (L oss) for the G roup 0,0 11,8 Ma rg in (% o f Ne t sa le s) 0,0% 11,6% 8

  9. Summar y Balanc e She e t 1Q 20 F Y 19 1Q 19 Net Wo rking C a p ita l 125,7 107,2 104,0 (€m) Net T a ng ib le Assets 63,4 62,8 60,1 Net I nta ng ib le Assets 75,1 76,1 78,7 Net I nta ng ib le Assets fo r Rig hts o f use 106,3 110,7 131,5 Net F ina nc ia l Assets 2,9 2,9 2,9 Severa nc e Sta ff, Pro visio ns & Others (20,3) (20,3) (22,1) Net Ca pita l Employed 353,1 339,3 355,2 Gro up Sha reho ld ers' E q uity 171,3 171,4 172,8 Mino rities 32,2 32,7 33,3 Sha reho ld ers' E q uity & Mino rities 203,5 204,1 206,1 Net fina nc ia l Deb t 57,6 39,4 34,4 Net fina nc ia l d eb t fo r L ea se lia b ilities 92,0 95,8 114,6 Net F ina nc ia l Debt a nd Sha reholders' Equity 353,1 339,3 355,1 Ac c o unts Rec eiva b les 44,2 41,5 52,9 Ac c o unts Pa ya b les (61,0) (74,3) (60,2) I nvento ry 114,6 112,1 101,5 Opera ting NWC 97,8 79,3 94,2 As % o f L T M sa le s 30,1% 22,6% 26,6% Other C urrent Assets/ L ia b ilities 27,9 27,9 9,8 Net Working Ca pita l 125,7 107,2 104,0 9

  10. Summar y Cash F low 1Q 20 F Y 19 1Q 19 (€m) Net Wo rking C a p ita l 125,7 107,2 104,0 Net T a ng ib le Assets 63,4 62,8 60,1 Net I nta ng ib le Assets 75,1 76,1 78,7 Net I nta ng ib le Assets fo r Rig hts o f use 106,3 110,7 131,5 Net F ina nc ia l Assets 2,9 2,9 2,9 Severa nc e Sta ff, Pro visio ns & Others (20,3) (20,3) (22,1) Net Ca pita l Employed 353,1 339,3 355,2 Gro up Sha reho ld ers' E q uity 171,3 171,4 172,8 Mino rities 32,2 32,7 33,3 Sha reho ld ers' E q uity & Mino rities 203,5 204,1 206,1 Net fina nc ia l Deb t 57,6 39,4 34,4 Net fina nc ia l d eb t fo r L ea se lia b ilities 92,0 95,8 114,6 Net F ina nc ia l Debt a nd Sha reholders' Equity 353,1 339,3 355,1 Ac c o unts Rec eiva b les 44,2 41,5 52,9 Ac c o unts Pa ya b les (61,0) (74,3) (60,2) I nvento ry 114,6 112,1 101,5 Opera ting NWC 97,8 79,3 94,2 As % o f L T M sa le s 30,1% 22,6% 26,6% Other C urrent Assets/ L ia b ilities 27,9 27,9 9,8 Net Working Ca pita l 125,7 107,2 104,0 10

  11. Appe ndic e s

  12. Inc ome State me nt – F ull Ye ar 2017- 2019 (€m) F Y 19 net of IF RS 16 effec ts 2018A 2017A 351,4 346,6 312,6 Ne t Sale s % c hang e 1,7% 10,9% 11,4% 10,1 5,4 3,8 Othe r Re v e nue s T o tal Re ve nue s 361,5 352,0 316,4 % c hang e 2,8% 11,2% 10,1% (115,3) (110,3) (96,1) Raw Mate rials Co sts Se rv ic e Co sts (108,3) (100,6) (91,0) Co st fo r use o f third partie s asse ts (25,6) (25,4) (23,3) (72,4) (68,5) (65,3) Pe rso nne l (3,3) (3,9) (4,1) Othe r Ope rating E xpe nse s (324,9) (308,7) (279,8) T o tal Ope rating E xpe nse s 36,6 43,3 36,6 E BITDA 10,4% Marg in (% o f Ne t sale s) 12,5% 11,7% (13,0) (13,7) (13,9) De pre c iatio n and Amo rtisatio n 23,6 29,6 22,7 E BIT 6,7% Marg in (% o f Ne t sale s) 8,5% 7,3% (1,0) (0,9) (3,7) Ne t Financ ial Inc o me / (E xpe nse s) PBT 22,7 28,7 19,0 Marg in (% o f Ne t sale s) 6,4% 8,3% 6,1% T axe s (10,0) (11,6) (7,4) Ne t inc o me be fo re Mino ritie s 12,6 17,1 11,5 Marg in (% o f Ne t sale s) 3,6% 4,9% 3,7% Mino rity Inte re sts (0,3) (0,4) (0,0) 12,3 16,7 11,5 Ne t Inc o me fo r the Gro up Marg in (% o f Ne t sale s) 3,5% 4,8% 3,7% 12

  13. Company Pr ofile Or ganisational Str uc tur e Owne r ship Str uc tur e IM Fashion AE F F E F ASHION GR OUP 24% Chair man: Massimo F e r r e tti Chie f Exe c utive Offic e r Simo ne Ba d io li Ma na g ing Dire c to r Ma rc e llo T a ssina ri Inve sto r Re la tio n Co mmunic a tio n a nd Aeffe Ma na g e r Ma rke ting Market Anna lisa Ald ro va ndi 6% 33% Chie f Info rma tio n Huma n Re so urc e s Offic e r F a usto Ba c c hini Die g o Pic c ia ni, AE F F E MOSCHINO VE L MAR POL L INI Manag ing Dir e c tor Manag ing Dir e c tor Manag ing Dir e c tor Manag ing Dir e c tor Mar c e llo T assinar i Ste fano Se c c hi L uc a Gor i Mar c o Piazzi F inanc e a nd F inanc e a nd Administratio Style Style Sa le s Pro duc t Style Style Admin. Fratelli Ferretti n Pla nning Holding 37% Sa le s Pro duc t Re ta il a nd Sa le s Sa le s Pro duc t Pro duc tio n Pr ê t- à- por te r division Pla nning Pla nning Re ta il a nd Re ta il a nd Pro duc tio n Pro duc tio n F ootwe ar and le athe r g oods division Shar e Infor mation Inve stor Re lations Inve sto r Re la tio ns N ° o f sha re s o utsta nding : 107,362,504 AE F F E S.p.A Ita lia n Sto c k E xc ha ng e – ST AR Se g me nt Anna lisa Aldro va ndi Spe c ia list: Me dio b a nc a S.p.A. +39 0541 965494 T ic ke rs: AE F IM (Blo o mb e rg ) AE F MI (Re ute rs), AE F a nna lisa .a ldr ova ndi@ae ffe .c om (Bo rsa Ita lia na ) www.a e ffe .c o m 13

Recommend


More recommend