Jb Hi-fi Limited · ASX:JBH

Jb Hi-fi — Macquarie Australia Conference 2010

14 slides from Jb Hi-fi's conference presentation, May 7, 2010

  1. Slide 1: JB Hi-Fi Limited Macquarie Australia Conference Presentation

    For personal use only JB Hi Hi--Fi Limited Macquarie Australia Conference Presentation 7 May 2010

  2. Slide 2: Agenda

    Agenda For personal use only 1. Performance 2. Historical Performance 3. Trading Update 4. Store Update 5. CEO transition 6 6. What’s What s New 7. Clive Anthonys 8. New Zealand 9. Investment Checklist Terry Smart COO 2

  3. Slide 3: Performance: strong performance for 6 months to 31 December 2009

    1. PERFORMANCE St Strong performance f ffor 6 months th tto 31 D December b 2009 For personal use only HY09 HY10 Growth  Sales $1.26b $1.55b 23.2%    Gross Margin 21.4% 21.1% -26 bps   Cost of Doing Business 13.6% 13.2% -39 bps  EBIT Margin 7.1% 7.2% +10 bps   NPAT $59.0m $76.0m 28.8%   E

  4. Slide 4: Historical Performance: strong growth in sales & earnings since July 2000

    2. HISTORICAL PERFORMANCE St Strong growth th iin sales l & earnings i since i MBI iin J July l 2000 For personal use only SALES +23% EBIT +25% NPAT +29% ~2.80b 142.0m +39% ~117-120m GUIDANCE +FULL YEAR GUIDANCE 2.33b + FULL YEAR G +27% + 111.4m 94.4m + 25% 102.3m +45% +56% 1.83b +43% 76.0m 1.55b +2

  5. Slide 5: Trading Update

    3. TRADING UPDATE Trading Update For personal use only  Comparative store sales in 3rd quarter were positive, unlike many other retailers.  Sales for March and April behind internal expectations.  In hindsight, the government stimulus package supported sales last year more than we anticipated. 

  6. Slide 6: Store Update: stores opened YTD

    4. STORE UPDATE 20 stores opened YTD For personal use only Now 23 stores (previously 22) to open in FY10  YTD opened stores are trading to expectations although softer in March and April.  New JB stores opened since HY10 are:  Artarmon (NSW)  Wagga Wagga (NSW)  Northland (VIC)  B di (VIC) Bend

  7. Slide 7: Store Update: new stores to open in FY10

    4. STORE UPDATE…. 20 stores opened YTD…. YTD For personal use only  23 new stores to open p in FY10 (20 ( opened p YTD))  23 JB Hi-Fi stores: • NSW: Albury*, Artarmon* , Belrose*, Eastgardens*, Moore Park*, Top Ryde*, Wollongong Central*, World Square*, Wagga Wagga* • QLD: Brisbane CBD (2x)*, (2x)

  8. Slide 8: Store Update: Store growth

    4. STORE UPDATE…. Store growth For personal use only  The company has a stated target of 210 JB stores for Australia & New Zealand.  Taking into account the 23 new stores in FY10, we still have another 80 JB stores to open.  Expect to open 13 – 15 per year.  Many years of store rollouts ahead of

  9. Slide 9: Store ramp up profile & maturity mix

    4. STORE UPDATE…. Store ramp up profile & maturity mix For personal use only  Store Ramp Up Profile - a JB Hi-Fi store takes on average 2.5/3 years to mature, sales mature faster than earnings.  Nearl half of our Nearly o r stores are still in their mat maturity rit ramp up p and with ith man many

  10. Slide 10: CEO Transition

    5. CEO Transition For personal use only CEO transition going very well  All senior management positions, roles and responsibilities in place.  Extensive contact with suppliers and other stakeholders.  Richard Uechtritz to retire at the end of May 2010. 10

  11. Slide 11: What's New?

    6. WHAT’S NEW ? For personal use only WHAT’S NEW ?  Movies – Avatar.  3D TV.  World Cup 2010.  Digital switchover.  Visual – Merchandising improvements.  ER d E-Readers.  Gaming category growth.  Mobile payment solution. 11

  12. Slide 12: Clive Anthonys: new shop fronts completed

    7. CLIVE ANTHONYS New shop fronts completed For personal use only 12

  13. Slide 13: New Zealand

    8. NEW ZEALAND For personal use only  Good comparative store g growth as the brand achieves increased awareness.  Gaining scale resulting in improved supplier terms.  H&S closure successfully completed.  Local support office now focused on the JB stores only.  3 new stores expected to open in F

  14. Slide 14: Investment Checklist

    9. INVESTMENT CHECKLIST For personal use only Why JB Hi Hi-Fi Fi should continue to grow and trade well well.  Strong and unique retail model.  Operates O t mainly i l in i high hi h growth th h home entertainment t t i t and d ttechnology h l sector. t  Low cost of doing business – best of liste

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