Autobacs Seven Co., Ltd. · TSE:9832
Autobacs Seven — Q3 FY March 2015 Earnings Presentation
26 slides from Autobacs Seven's earnings presentation, Jan 30, 2015
Slide 1: Results for the Nine Months ended December 31, 2014
【Reference】 Translation Results for the Nine Months ended December 31, 2014 January 30, 2015 AUTOBACS SEVEN CO., LTD.
Slide 2: Q3 FY March 2015 Consolidated P/L
Q3 FY March 2015 Consolidated P/L Sales of tires and wheels temporary recovered the third quarter, due to nationwide snowfalls. Despite efforts to cut SG&A, however, net sales and the gross margin declined due to sluggish consumer spending, which had continued since the beginning of the fiscal year,
Slide 3: Quarterly P/L (FY March 2015)
Quarterly P/L (FY March 2015) (Billion Yen) Q4（estimates – Full Year Q1(Results) Q2(Results) Q3(Results) results） (Estimates) Net Sales 48.5 49.6 69.9 48.7 216.6 YoY -7.5% -3.4% -6.2% -8.9% -6.5% Gross profit 14.8 15.7 22.2 16.9 69.7 (% of Sales) (30.6%) (31.8%) (31.8%) (34.8%) （32.2%) YoY -13.0% -1
Slide 4: Segments: Analysis for Operating Income
Analysis for Operating Income Domestic retail sales Total stores -6.3% / Same store sales -7.5% (YoY) Operating Income YoY Non-consolidated 8.98BY -2,740MY Sales: -7,020MY（-4.8％） Gross profit: -1,950MY（GPM: 20.9% - up from LY’s 21.2%） ・Decrease in sales and gross profit of interior goods, oil and ba
Slide 5: Segment Information
Segment Information (Billion yen) Nine months ended Nine months ended YoY Dec 31, 2014 Dec 31, 2013 change Net Sales 138.45 145.47 -4.8% Non-consolidated Ordinary Income 8.98 11.72 -23.4% Domestic store Net Sales 52.12 60.47 -13.8% subsidiaries - Ordinary Income -1.46 0.26 Net Sales 7.72 7.93 -2.6%
Slide 6: Performance Breakdown (Nine months ended Dec 31, 2014)
Performance Breakdown (Nine months ended Dec 31, 2014) Non-consolidated Net Sales -0.68 BY ↑ car sales, fuel, services Wholesale -5.0% ↓ car electronics, tires & wheels, car interior and etc. 138.4 BY -0.09 BY ↑ on-line store, services, external items and etc. Retail YoY: -7.02BY -2.3% ↓ second hand
Slide 7: Retail Sales in Total AUTOBACS Group Stores
Retail Sales in Total AUTOBACS Group Stores RETAIL SALES INCLUDING FCs*: 204.0 billion yen (-6.3% YoY) (Billion Yen) 250 217.5 204.0 3.4 Second hand goods & Fuel: 3.5BY (+4.1% YoY） 12.0 3.5 200 15.1 11.8 Statutory safety inspection: 11.8BY (-1.5% YoY) 16.0 Number of cars inspected： 405,000 cars (+0.
Slide 8: Sales Ups & Downs by Merchandise (Nine Months)
Sales Ups & Downs by Merchandise (Nine Months) 【Same Store Basis】 Sales: -7.5% YoY, Number of customers: -5.7% YoY Retail sales ups and downs by merchandise category (Million Yen) (for nine months ended Dec 31 2014, YoY change in amount, total store basis) 0 -5 -27 -37 -500 -184 -342 Accessories -46
Slide 9: ASP Trends in Car Navigation Devices
ASP Trends in Car Navigation Devices ASP and Unit Sales Trends of Car Navigation Devices (YoY) 60% 53.1% 50% 40% 30% 20% 10% 5.4% 4.0% 11.5% 12.6% 0.8% -2.0% -4.4% 0% -9.0%-10.1% 0.7% -3.0% -10.2% -10% -3.5% -4.5% -9.8% -9.9% -20% -12.5% -10.7% -11.3% -16.9% -15.9% -20.1% -30% -23.0% Unit sales (YoY
Slide 10: Sales Trend: Retail & Wholesale (Jan 2014 – Dec 2014)
Sales Trend: Retail & Wholesale (Jan 2014 – Dec 2014) （％） 【YoY change for the last 12 months】 30.0 Sales Wholesale 25.0 26.8 21.0 20.0 last-minute demand before 19.2 consumption tax hike 15.0 12.3 10.0 8.7 Backlash against the 4.6 5.0 last-minute demand 0.4 0.0 -5.6 -5.2 -5.0 -1.0 -6.1 -1.5 -5.0 -7.
Slide 11: Flow of Car Sales and Purchases (No.1)
Flow of Car Sales and Purchases (No.1) Commercial flow of sales and purchases (No. of cars denotes cumulative units for nine months ended Dec 31, 2014) FC Headquarters Sales by auction Appraisal and purchase consigned to FC Headquarters Used car dealers 995 cars Auto auctions 6,888 cars Customers In
Slide 12: Flow of Car Sales and Purchases (No.2)
Flow of Car Sales and Purchases (No.2) Commercial flow of retail sales (No. of cars denotes cumulative units for nine months New car dealers ended Dec 31, 2014) Used car dealers New car dealers Auto auctions Auto auctions Procurement Procurement FC Headquarters Customers Purchase & Inventories Inven
Slide 13: Results of Overseas Operation by Country
Results of Overseas Operation by Country FRANCE CHINA SINGAPORE THAILAND Number of stores at Dec 31, 2014 11 0 3 4 -including FCs stores- Total store sales ▲3.9% ─ ▲11.0% ▲22.2% -including FC stores- 4/1/2014 4/1/2013 4/1/2014 4/1/2013 4/1/2014 4/1/2013 4/1/2014 4/1/2013 Period through through throu
Slide 14: Decrease in Consolidation Adjustments
Decrease in Consolidation Adjustments Consolidation Adjustments (Million Yen) Nine months ended Nine months ended Dec 31, 2014 Dec 31, 2013 Operating Income for segment total 7,863 12,646 Elimination of Intersegment transaction (Income of subsidiaries for supporting functions, (344) (114) etc.) Inve
Slide 15: Segments: Analysis for Operating Income (FY2015 Q3)
Analysis for Operating Income (FY2015 Q3) Domestic retail sales Total stores -4.8% / Same store sales -6.0% (YoY) Operating Income YoY Non-consolidated 5.99BY -0.31BY Sales: -4.02BY（-6.3％） Gross profit: -4.9BY（GPM: 21.6% - up from LY’s 21.0%） ・Increase in gross profit ratio of tires & wheels ・Declin
Slide 16: Progress of New Store Openings
Progress of New Store Openings Store name Ownership of stores Opening date 1 AUTOBACS MANIWA Store FC October 10, 2014 2 AUTOBACS TAIWA YOSHIOKA Store Subsidiaries October 10, 2014 3 AUTOBACS HASIMOTO-KOYAGUCHI Store FC October 16, 2014 4 AUTOBACS KASUGA FOREST-CITY Store Subsidiaries October 23, 20
Slide 17: Progress of Medium-Term Business Plan
Progress of Medium-Term Business Plan Business Fields Initiatives Automotive Goods ・Enhanced the lineup of the new private brand “AQ” (Launched sales with approx. 800 SKU including batteries, snow wipers, car mats, rearview mirrors, and accessories) ・Expanded tire storage service Safety Inspection ・
Slide 18: Overseas Business
Overseas Business Concentrate operations in the ASEAN region and manage business with a focus on profitability Thailand：Opened a small store that mainly sells maintenance merchandise in a shopping mall in October 2014. AUTOBACS KHUBON Store, Thailand The second store is planned to be opened in the f
Slide 19: Internet Sales Results
Internet Sales Results Net sales for the nine months ended December 31, 2014 : 1,090 million yen (up 17.0% year on year) Delivery directly to customers: 440 million yen Store sales: 650 million yen [Measures taken] ・Commenced the concurrent booking of oil changes for the purchase of oil on the Group
Slide 20: Examples of Initiatives Implemented via the Internet
Examples of Initiatives Implemented via the Internet “My Car” photo gallery at AUTOBACS.COM Booking of oil changes via AUTOBACS.COM 19
Slide 21: Store Openings and Closings (Plan)
Store Openings and Closings (Plan) < Domestic stores > Fiscal year ending March 31, 2015 No. of No. of No. of stores as Q1 ~ Q3 (result) stores as Q4 (Plan) stores as of March of Dec 31, of March 31, 2014 New S/B・R/L Close 2014 New S/B・R/L Close 31, 2015 AUTOBACS 478 +13 491 491 Super AUTOBACS 75 75
Slide 22: Financial Strategies – Shareholder return policy
Financial Strategies – Shareholder return policy Dividends per share (Yen) 80 64.0 60.0 60 52.0 10 48.3 45.0 41.7 30 40 27 27 23.3 25 21.7 20 25 27 30 20 21.7 23.3 0 March 2010 March 2011 March 2012 March 2013 March 2014 March 2015 （E） Commemorative dividend 2nd Half 1st Half Note : Dividend per sha
Slide 23: Purpose of Organizational Reform Implemented on April 1, 2015
Purpose of Organizational Reform Implemented on April 1, 2015 With the goal of achieving the 2014 Medium-Term Business Plan in mind, the Group will undergo an organizational reform to simultaneously “strengthen its ability to get strategy achieved” and “improve its efficiency in terms of operations
Slide 24: Balance Sheet / Assets
Balance Sheet / Assets 224.0BY 201.5BY 187.8BY 186.4BY 218.1BY (Billion Yen) Cash and deposits 451 384 Trade notes 457 and account 439 404 receivables 375 392 Lease investment 225 assets 115 211 215 114 Marketable securities 8 120 0 204 8 122 119 195 Inventories 164 3 8 169 177 Other current assets
Slide 25: Balance Sheet / Liabilities & Net Assets
Balance Sheet / Liabilities & Net Assets (Billion Yen) 224.0BY 201.5BY 187.8BY 186.4BY 218.1BY Trade notes & accounts payable 404 ST borrowings and 383 corporate bond 176 Other ST liabilities 40 44 142 149 36 219 220 47 56 Bonds and LT debts 172 237 31 23 168 Other LT liabilities 108 108 21 10 22 11
Slide 26: Forward-Looking Statements
Forward-Looking Statements These materials include forecasts regarding the Company’s future plans, strategies, and performance. This information is based on judgments and estimates made in accordance with information currently available. Actual results may differ materially from forecasts due to suc
Autobacs Seven — Q3 FY March 2015 Earnings Presentation on 6ix