Jb Hi-fi Limited · ASX:JBH
Jb Hi-fi — Shareholder Meeting (October 2010)
24 slides from Jb Hi-fi's shareholder meeting presentation, Oct 13, 2010
Slide 1: 2010 Annual General Meeting
For personal use only JB Hi-Fi Hi Fi Limited 2010 Annual General Meeting 13 October 2010
Slide 2: Agenda
Agenda For personal use only Chairman Chairman’s s address Chief Executive Officer’s address Ordinary business • Item 1: Consideration of Accounts and Reports • Item 2: Remuneration Report • Item 3: Re-election of Directors Special business • Item 4: Approval of Grant of Options to Executive
Slide 3: Chairman's address: sales, EBIT and NPAT growth
Chairman’s address M P Mr Patrick t i k Elli Elliott tt For personal use only SALES +17% EBIT +23% NPAT +26% 175.1m 118.7m +23% +26% 2.73b +17% + NCE ~ $3.2b 142.0m 2.33b 94.4m +39% +27% +45% LL YEAR GUIDAN 1.83b +43% 102.3m +56% 65.1m +61% FY11 - FUL 1.28b +36% 65.5m +47% 40.4m 946m +57% +36% 44.5m
Slide 4: Strong shareholder return
Chairman’s address… St Strong shareholder h h ld return t For personal use only Total dividends up by 50% to 66.0 cents per share. Since the IPO in October 2003, annual compound return of 43.2% has been achieved compared to 5.0% for the ASX 200 Accumulation Index over the same periodi. + i as at
Slide 5: Sustainable competitive advantage
Chairman’s address… S t i bl competitive Sustainable titi advantage d t For personal use only Low operating costs is a cornerstone philosophy for the company. Our cost of doing business was 14.5%, a continued improvement from 14.7% in the previous year. + Our cost advantage is continually enha
Slide 6: Strength of the JB model
Chairman’s address… St Strength th off th the JB model d l For personal use only Discounters generally appear to have fared better than their full price rivals in navigating the financial crisis. Impact of the government stimulus on retailers through FY09 was underestimated. + Our compound ann
Slide 7: Rollout continues
Chairman’s address… R ll t continues Rollout ti For personal use only The rollout of JB Hi-Fi branded stores has continued across Australia and New Zealand. Target of 210 JB Hi-Fi branded stores (160 Tier 1 and 50 Tier 2). + Many years of growth ahead. Today we employ over 5,500 staff in Aus
Slide 8: Funding of growth plans
Chairman’s address… F di Funding off growth th plans l For personal use only The Company has moved from being a net investor of cash to a net generator of cash. The company has been assessing its capital structure to ascertain the right balance between financial risk and efficient capital usage.
Slide 9: Terry Smart succeeds Richard Uechtritz as CEO
Chairman’s address… T Terry S Smartt succeeds d Ri Richard h dU Uechtritz ht it as CEO For personal use only After 10 years at the helm of the Company, Richard Uechtritz retired as CEO in May 2010 and was succeeded by Terry Smart. Under Richard’s leadership the Company successfully expanded to b
Slide 10: Community involvement
Chairman’s address… C Community it involvement i l t For personal use only The JB workplace giving program “Helping Hands”, launched in 2008, now has more than 890 employees making regular weekly contributions. To date the program has raised $1.33 million including the matching grants made by the
Slide 11: Chairman's closing and hand-over to CEO
Chairman’s address… For personal use only Let me take the opportunity to thank my fellow directors, Terry and all the staff of JB who have delivered another record result for shareholders. CEO Terry Smart will now address the meeting on the operational results + 11
Slide 12: Mr Terry Smart
Chief Executive Officer’s address M Terry Mr T S Smartt For personal use only + 12
Slide 13: Strong performance in FY10
Chief Executive Officer’s address St Strong performance f iin FY10 For personal use only FY10 was another strong result for the Company with consolidated sales up 17.4% on the prior year. The unique JB model continued to resonate with customers. + Consolidated comparative store sales growth fo
Slide 14: New Zealand
Chief Executive Officer’s address N New Z Zealand l d For personal use only Focus on the roll out of JB branded stores. We are quickly increasing our scale and with that our buying power, efficiencies and brand awareness. + We remain committed to New Zealand and expect it to generate a satisfa
Slide 15: Working capital
Chief Executive Officer’s address W ki Working capital it l For personal use only During the year we invested in working capital relating to inventory for new stores, expanded established stores and continued the expansion of Computers/IT and Telco. Inventory turnover improved to 6.5 times, with
Slide 16: New stores
Chief Executive Officer’s address New stores For personal use only 23 JB Hi-Fi stores opened in FY10 23 JB Hi-Fi stores: NSW: Albury, Artarmon, Belrose, Eastgardens, Moore Park, Top Ryde, Wagga Wagga, Wollongong Central, World Square QLD: Brisbane CBD ((x2), ), Browns Plains,, Mt Ommaney, y,
Slide 17: New stores expected in FY11
Chief Executive Officer’s address New stores… stores For personal use only 18 JB Hi-Fi stores expected to be opened during FY11 18 JB Hi-Fi stores: VIC: Sunshine, Forrest Hill, Chadstone – Warrigal Rd, Greensborough, Mildura, Airport West, Bayside Frankston NSW: North Sydney, Sydney Charlest
Slide 18: Trading update
Chief Executive Officer’s address T di Trading update d t For personal use only The Company has continued to see a steady improvement in store sales since June 2010 and as a result we now have positive comparable growth year to date for FY11. Total Company sales for the first quarter FY11 are up
Slide 19: Thanks to management and staff
Chief Executive Officer’s address For personal use only A key to JB’s success is its exceptional management and staff who continue to enthusiastically embrace every opportunity that comes their way. I thank them for their contribution and together, we look forward to producing another record res
Slide 20: Consideration of Accounts and Reports
Ordinary Business It Item 1 - Consideration C id ti off A Accounts t and dRReports t For personal use only To receive and consider the financial report of the Company for the financial year ended 30 June 2010 together with the directors’ report and auditor’s reports for the financial year ended 30 J
Slide 21: Remuneration Report
Ordinary Business… It Item 2 - Remuneration R ti Report R t For personal use only To consider and and, if thought fit fit, to pass the following resolution as an ordinary resolution: "That the Remuneration Report for year ending 30 June 2010 be adopted." Proxies: + In respect to this item of busines
Slide 22: Re-election of Directors
Ordinary Business… It Item 3 - Re-election R l ti off Di Directors t For personal use only To re-elect re elect Directors of the Company Company, each election to be voted on separately: a) "In accordance with the Company’s Constitution, Mr James King retires by rotation and, being eligible, offers
Slide 23: Approval of Grant of Options to Executive Director
Special Business It Item 4 - Approval A l off G Grantt off O Options ti tto E Executive ti Di Director t For personal use only To consider and and, if thought fit fit, to pass the following resolution as an ordinary resolution: a) Approval of grant of Options to an Executive Director – Mr Terry Smar
Slide 24: Other Business
For personal use only 24 Other Business +