Ovs S.p.a. · MIL:OVS
Ovs — Q1 2017 Earnings Presentation
10 slides from Ovs's earnings presentation, June 2017
Slide 1: 1Q17 Financial Results
1Q17 FINANCIAL RESULTS June, 2017
Slide 2: Disclaimer
1 Disclaimer This presentation is being furnished to you solely for your information and may not be reproduced or redistributed to any other person. This presentation might contain certain forward-looking statements that reflect the Company’s management’s current views with respect to future events
Slide 3: 1Q17 Highlights
2 1Q17 Highlights +6.5% Sales growth 6.5% mainly driven by network expansion and good performance of existing stores Increase in Net Sales Network expanded by 53 stores, out of which 11 Full Format DOS Prosecution of market share increase at 7.4% (+31 bps vs. Apr 2016) +11 Full format DOS €29.3m EBI
Slide 4: Key Income Statement Items
3 Key Income Statement Items Positive performance confirmed in 1Q17 1Q17 1Q16 Key Metrics* € mln % of Net Sales € mln % of Net Sales Growth Net Sales 319.3 299.9 6.5% EBITDA 29.3 9.2% 26.3 8.8% 11.2% EBIT 16.9 5.3% 14.4 4.8% 17.4% EBT 13.8 4.3% 10.7 3.6% 28.2% • 1Q17 Net Sales grew by 6.5% despite t
Slide 5: Sales and EBITDA Performance in 1Q17
4 Sales and EBITDA Performance in 1Q17 Net Sales (€mln) EBITDA (€mln) Aggregate Performance 319 300 8.8% 9.2% Performance By Brand 9.6% 9.6% 4.2% 6.8% Margin %
Slide 6: Consolidated Net Working Capital
5 Consolidated Net Working Capital € mln 30 April '17 30 April '16 Change Accounts Receivable 106.9 92.3 14.7 Inventory 332.0 290.3 41.7 Accounts Payable (329.2) (325.9) (3.4) Net Working Capital 109.7 56.7 53.0 • The working capital structure reflects the seasonality of the business and the increas
Slide 7: Capex
6 Capex 1Q 2017 Capex split (€ mln) Refurbishment of the existing network (c. 44.6%) New openings (c. 36.3% of total) IT and special projects (c. 16.9%), mainly related to operational projects Capex for the maintenance of the headquarter building, Total €15.6m logistics and others (c. 2.3%) Capex in
Slide 8: Net Debt and Leverage
7 Net Debt and Leverage € mln 30 April '17 30 April '16 Net Debt 339.2 319.3 EBITDA LTM 189.6 182.4 Leverage on EBITDA 1.8x 1.8x • In the last 12 months, EBITDA leverage remained stable at 1.8x vs. 30 April 2016 • The interest rate of the period was 2.48% + Euribor 3m
Slide 9: Consolidated Cash Flow Statement
8 Consolidated Cash Flow Statement • Seasonality must be taken into account when € mln 1Q17 1Q16 considering quarterly cash generation: the business is EBITDA 29.3 26.3 usually cash absorbing in 1Q, slightly cash generative in 2Q and then progressively more cash generative in Change in Net Working C
Slide 10: Outlook
9 Outlook • Acceleration of sales during month of May also thanks to favourable weather • The network expansion plan continued with an additional 5 new directly operated stores and 15 new stores in franchising mainly kids format. • International expansion is proceeding as envisaged with the opening