2015-03-11 aeffe fy14 consolidated results …...2015/03/11 · net sales breakdown by division (1)...
TRANSCRIPT
AEFFE 2014 Consolidated Results Presentation11, March 2015
2
FY 2014 Key Facts
� Consolidated Revenues +0.2% at € 251.5, (flat at constant exchange rates);
consolidated sales would have increased by 7.6% at constant exchange rates, net of
the effects of already terminated licenses and of the reorganization of the distribution
in Japan
� Consolidated EBITDA for € 25.7m, compared to an EBITDA of € 20.6m in FY 2013, with a
€ 5.1m increase
� Net Profit for the Group at € 2.7m, compared to a Net Loss of € 3.2m in FY 2013 , with a
€5.9m improvement
� Consolidated Net Financial Debt of € 83.5m, compared to € 88.6m as of 31 December
2013, with a € 5.1m improvement
� 246 Mono Brand Stores
Net Sales Breakdown by Division(1)
56,9
20,3
40,9
13,4
52,8
21,7
46,3
16,5
0
20
40
60
80
100
120
140
160
180
200
Prêt à porter Footwear & Leather Goods
Prêt à porter
Footwear & Leather
Goods
52,7
19,8
42,1
17,9
52,5
26
44,8
22,3
0
20
40
60
80
100
120
140
160
180
200
Prêt à porter Footwear & Leather Goods
(€m)% on Total Sales
Prêt à porter
Footwear & Leather
Goods
FY 2014 FY 2013
69%
31%
(€m)% on Total Sales
73%
27%
(1) Before inter-divisional eliminations
-2.7% * vs FY 2013
+19.5% * vs FY 2013
31Q
** Net of the effects of the Japanese distribution reorganization and of the terminated licenses at constant exchange rates
2Q
196,9
71,9
192,1
86,0
* At constant exchange rates
+7.3% ** vs FY 2013
+19.7% ** vs FY 2013
3Q 4Q
7,0 6,0
39,0
8,3 7,5 3,4 2,2
36,3
7,1 4,2 6
3,6
46,3
10,2 5,8
4,1 2,1
41,8
7,3
3,3
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150
Alberta Ferretti
Philosophy Moschino Pollini Others
Net Sales Breakdown by Brand
5,2 7,4
40,8
8,5 11,1 4,2 3,6
32,4
6,7 3,0 6,1 5,5
41,6
10,3 6,8 4,6 5,1
37,7
7,2 3,3
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150
Alberta Ferretti
Philosophy Moschino Pollini Others
% on Total Sales
+1.6% *
+6.9% *
+0.6% *
(6.8%)**(35.7%) *
FY 2014 FY 2013
Alberta Ferretti
Moschino
Pollini
Philosophy
Others60% 10%
12%
8%
% on Total Sales
Alberta FerrettiMoschino
Pollini
Philosophy
Others65% 8%
13%
8%
(€m) (€m)
4
1Q* At constant exchange rates
2Q
20,1
20,5
163,4
32,9
20,8
13,9
152,5
32,7
21,624,2
** Net of the effects of the Japanese distribution reorganization at constant exchange rates
and net of the effects of already terminated licenses
+10.4%**
+14.5% **
+2.5%**
3Q
(26.4%)**
9%13%
6%
(13.9%) *
4Q
29,2
14,8
5,7 4,5 6,7 12,1
23,6
9,2
3,8 3,2 3,5
6,6
30,1
15,3
5,9 3,6
5,1
10,4
21,6
10,7
4,0 5,8
6,6
9,1
0
10
20
30
40
50
60
70
80
90
100
110
Italy Europe Russia USA Japan RoW
Net Sales Breakdown by Region
Italy
Europe
Russia USA Japan
RoW
28,9
16,9
5,1 3,5 1,5 11,7
24,0
11,5
4,4 3,6
1,8
8,2
34,7
14,5
4,1 4,3
1,7
12,5
26,0
12,9
2,9 4,7
2,0
9,9
0
10
20
30
40
50
60
70
80
90
100
110
Italy Europe Russia USA Japan RoW
% on Total Sales
Italy
Europe
Russia USAJapan
RoW
FY 2014 FY 2013
22% 17%
7%
45%
6%
% on Total Sales(€m) (€m)
(1) Italy and Russia excluded
+8.7% *
+11.1%*
(14.1)% * (5.6)% *
+10.4% *
(67.9)%* *
3%
20% 15%
8%
41%
7%9%
(1) (1)
5
1Q* At constant exchange rates 2Q
113,6
55,9
16,616,1
7,0
42,3
104,5
50,0
19,417,1
21,9
38,2
** Data reflect the reorganization of the distribution network
3Q 4Q
50
19,3
3,7
27,0
19,1
3,8
46,8
19,7
3,9
35,8
21,6
0,4
0
20
40
60
80
100
120
140
160
Wholesale Retail Royalties
Net Sales Breakdown by Channel
45,1
18,9 3,6
34,2
15,6
3,7
50
18,4
3,4
41,5
16,9
0,1
0
20
40
60
80
100
120
140
160
Wholesale Retail Royalties
% on Total Sales
Wholesale
Retail
Royalties
FY 2014 FY 2013
4%
68%
% on Total Sales(€m) (€m)
28%
+7.0% *
(12.9)% *
(8.1%) *
Wholesale
Retail
Royalties5%
63%
32%
6
1Q
* At constant exchange rates
2Q
170,8
69,8
10,9
159,6
79,7
11,8
** Net of the effects of the Japanese distribution reorganization and of the terminated licenses
at constant exchange rates
+7.9% **
+4.7% **
3Q 4Q
7
Mono-brand Stores Network
DOS
Franchising
8
Income Statement – FY 2014/2013
(€m)
9
Balance Sheet
(€m)
10
Summary Cash Flow
(€m)
Appendices
12
Company Profile
IM Fashion24%
Highclere Int. LLP2%
Aeffe5%
Tullio Badioli
5%
Psquared Master Sicav Ltd
3%Market24%
Fratelli Ferretti Holding
37%
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)
Investor Relations
AEFFE S.p.A
Annalisa Aldrovandi
+39 0541 965494
www.aeffe.com
(1) Source: Consob as of 11 March 2015
Prêt-à-porter division
Footwear and leather goods division
Aeffe Fashion Group Chairman: Massimo Ferretti CEO: Simone Badioli
General Manager/CFO Marcello Tassinari
Investor Relation ManagerAnnalisa Aldrovandi
Human ResourcesFausto Bacchini
Communication and Marketing Monica Paparcone
IT Diego Picciani,Giorgio Bruzzesi
Chief Executive Officer VELMAR Luca Gori
StyleProduct
Sales
Style
Finance and
Administratio
n
Sales Retail
Chief Executive Officer AEFFE Simone Badioli
Style
Finance and
Administratio
n
Sales Product
Planning
and
Production
Retail
Chief Executive Officer POLLINI Antonella Tomasetti
StyleFinance and
Admin.
Sales Product
Planning
and
Production
Retail
Planning
and
Production
General Manager MOSCHINO Alessandro Varisco
Chief Executive Officer Simone Badioli
Organisational Structure Ownership Structure (1)
Share Information Investor Relations
13
Cash Flow Statement
(€m)
14
Income Statement – Full Year 2012-2014
(€m)
15
Important Information
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