Aeffe S.p.a. · MIL:AEF
Aeffe — Q1 2010 Earnings Presentation
15 slides from Aeffe's earnings presentation, May 13, 2010
Slide 1: First Quarter 2010 Results Presentation
First Quarter 2010 Results Presentation 13, May 2010
Slide 2: 1Q 2010 Key Facts
1Q 2010 Key Facts Consolidated Revenues -15.2% at € 61.3m, (-15.1% at constant exchange rates) Consolidated EBITDA at € 1.5m Consolidated Net Loss at € 1.7m Consolidated Net Financial Debt of € 95.5m (€ 87.7m as of 31 December 2009) 237 Mono Brand Stores (vs. 227 at the end of 2009) 2
Slide 3: Net Sales Breakdown by Division
Net Sales Breakdown by Division(1) 1Q 2010 1Q 2009 (€m) (€m) % on Total Sales % on Total Sales 60 70 Footw ear Footw ear & Leather & Leather -11.5% vs 1Q 2009 Goods Goods 24% 22% 60 50 78% 76% Prêt à Prêt à porter 50 porter 40 40 30 51,2 30 57,9 20 -28.5% vs 1Q 2009 20 10 10 18,3 13,1 0 0 Prêt à por
Slide 4: Net Sales Breakdown by Brand
Net Sales Breakdown by Brand 1Q 2010 1Q 2009 (€m) (€m) % on Total Sales % on Total Sales 45 40 Pollini Pollini 12% 16% J.P. J.P. 35 Gaultier 7% Gaultier 9% (3.7%) Moschino 56% 4% Others 6% Others Moschino 49% 35 21% 30 20% Alberta Alberta Ferretti Ferretti 25 25 20 35,7 34,4 (10.5%) 15 15 (35.2%) 10
Slide 5: Net Sales Breakdown by Region
Net Sales Breakdown by Region 1Q 2010 1Q 2009 (€m) (€m) % on Total Sales % on Total Sales 30 Russia USA 35 Russia USA Japan Japan (12.4%) 5% 7% 7% 8% 8% 7% Europe RoW RoW 24% 13% 30 Europe 22% 15% 25 43% 41% 25 Italy Italy 20 20 (8.3%) 15 26,2 15 29,9 (30.6%) 10 10 14,7 (16.7%) 0.4% 16,0 5 (34.4%) 1
Slide 6: Net Sales Breakdown by Channel
Net Sales Breakdown by Channel 1Q 2010 1Q 2009 (€m) (€m) % on Total Sales % on Total Sales 45 60 Retail Retail (21.2%) 26% 20% 40 6% Royalties 50 7% Royalties 35 68% 73% Wholesale 30 Wholesale 40 25 30 41,6 20 8.2% 53,1 15 20 10 15,7 (18.1%) 10 5 14,4 4,0 4,8 0 0 Wholesale Retail Royalties Wholesale
Slide 7: Mono-brand Stores Network
Mono-brand Stores Network DOS 1Q10 FY09 Europe 42 38 USA 3 3 Asia 38 38 Total 83 79 Franchising 1Q10 FY09 Europe 53 52 USA 7 7 Asia 94 89 Total 154 148 7
Slide 8: Income Statement – 1Q 2010/2009
Income Statement – 1Q 2010/2009 (€m) 1Q 10 1Q 09 Net Sales 61,3 72,3 % change (15,2%) Other Revenues 2,3 1,4 Total Revenues 63,6 73,7 % change (13,8%) Raw Materials Costs (19,9) (21,9) Service Costs (18,8) (23,9) Costs for use of third parties (5,4) (5,1) Personnel (16,1) (17,3) Other Operating Expe
Slide 9: Summary Balance Sheet
Summary Balance Sheet 1Q 10 FY 09 1Q 09 (€m) Net Working Capital 76,0 67,8 86,3 Net Tangible Assets 77,2 76,6 79,3 Net Intangible Assets 155,3 157,0 168,6 Net Financial Assets 3,0 2,8 2,6 Severance Staff, Provisions & Others (47,7) (46,0) (60,4) Net Capital Employed 263,9 258,2 276,4 Group Sharehold
Slide 10: Summary Cash Flow
Summary Cash Flow (€m) 1Q 10 FY 09 1Q 09 PBT (2,2) (30,8) 0,3 Operating Cash Flow (7,2) (10,6) (10,4) Capital Expenditure 0,1 (4,2) (2,8) Free Cash Flow (7,1) (14,8) (13,2) Cash Flows from Financing Activities 7,9 12,5 14,2 Cash and cash equivalents at the beginning of the year 5,3 7,7 7,7 Cash Flow
Slide 11: Appendices
ANE Appendices ad
Slide 12: Company Profile
Company Profile (1) Organisational Structure Ownership Structure Aeffe Fashion Group Chairman: Massimo Ferretti CEO: Simone Badioli IM Fashion Chief Executive Officer 24% Tullio Simone Badioli Badioli 2% General Manager/CFO Mediobanca Marcello Tassinari 2% Aeffe 5% Investor Relation Communication an
Slide 13: Cash Flow Statement
Cash Flow Statement (€m) 1Q 10 FY 09 1Q 09 PBT (2,2) (30,8) 0,3 Depreciation & Amortisation 3,5 13,6 2,5 Provisions & Impairments (0,1) (1,0) (0,1) Taxes (1,2) (1,8) (1,7) Net Interest 0,3 3,7 1,0 Change in other liabilities / (assets) (7,5) 5,7 (12,4) Operating Cash Flow (7,2) (10,6) (10,4) Capital
Slide 14: Income Statement – Full Year 2007-2009
Income Statement – Full Year 2007-2009 (€m) 2009A 2008A 2007A Net Sales 217,04 294,7 293,2 % change (26,3%) 0,5% 10,2% Other Revenues 5,9 6,05 3,5 Non-Recurring Revenues - 2,2 Total Revenues 222,9 300,7 298,9 % change (26,1%) 0,6% 8,7% Raw Materials Costs (69,6) (79,2) 80,9 Service Costs (79,5) (103
Slide 15: Important Information
Important Information The information provided in this presentation is being furnished to you solely for your information on a confidential basis. Neither this document nor any copy thereof may be reproduced or redistributed. Persons into whose possession the content of this presentation come should