Foschini Group Limited · JSE:TFG
Foschini — The Foschini Group — H1 2021 Earnings Presentation
88 slides from Foschini's earnings presentation, November 2020
Slide 1: Results Presentation for the Half-Year Ended 30 September 2020
RESULTS PRESENTATION FOR THE HALF-YEAR ENDED 30 SEPTEMBER 2020 HALF- YEAR 2021
Slide 2: Agenda
AGENDA PRESS STRATEGIC PASS Anthony Thunström Chief Executive Officer OVERVIEW Bongiwe Ntuli Chief Financial Officer GROUP FINANCIAL Jane Fisher PERFORMANCE TFG Africa Group Director Shane van Niekerk TFG Africa: Jet SEGMENT PERFORMANCE Ben Barnett TFG London Gary Novis LOOKING TFG Australia FORWARD
Slide 3: Progress Made on Key Strategic Priorities
PROGRESS MADE ON KEY STRATEGIC PRIORITIES STRATEGIC FOCUS AREAS KEY ACTIONS • Launched myTFGworld and Sportscene apps Fast-track e-commerce evolution and digital • Launched American Swiss and Sterns online transformation • Trialing value pure play jewellery brand Galaxy & Co • Launched Johnny Bigg o
Slide 4: Performance Context: COVID-19
PERFORMANCE CONTEXT COVID-19 Anthony Thunström
Slide 5: Managing Through COVID-19
MANAGING THROUGH COVID-19 • All three major territories in economic recession COVID-19 • Consumer confidence and spending under pressure IMPACT • Further lockdowns internationally • Load shedding in South Africa PEOPLE • 34% of TFG Africa product (ex cellular and cosmetics) sourced locally PEOPLE LO
Slide 6: COVID-19: What Did We Experience
COVID-19: What did we experience 1 2 3 4 Store trade Apr - Sept Inventory & sourcing E-commerce surge Employees Average 26% downtime TFG Africa & TFG +2 Group inventory days vs Sept 2019 TFG Africa Enabled work from home where possible Australia +152% online turnover growth May – Sept 2020 Store ope
Slide 7: COVID-19: What Did We Observe and Impact on TFG
COVID-19: What did we observe and impact on TFG ECONOMIC EFFECT* “GOING OUT” & “FITNESS” ITEMS* TFG IMPACT TFG IMPACT Medium to Short to longer term medium term Demand for Customers sporting apparel Household incomes are increasingly will resume under even more pressure seeking perceived 55% social
Slide 8: COVID-19: What Did We Observe and Impact on TFG
COVID-19: What did we observe and impact on TFG WORK WEAR* OMNI-CHANNEL TFG IMPACT TFG IMPACT Medium to Short, medium longer term & longer term Demand for work Demand for online wear will recover 43% slowly as people return to work. 29% will continue to increase exponentially. of respondents who of
Slide 9: COVID-19: Limited Footfall; Online Gains Traction
COVID-19: What did we observe and impact on TFG Limited footfall in major shopping centres; online gains traction -29% Taxi / Commuter Centre -20% Super Regional Centre -17% CBD / Town Centre -Large -11% Regional Centre Small Regional / Large Community CBD / Town Centre -Small Community Centre Lifes
Slide 10: TFG RESULTS PRESENTATION
TFG RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 11: TFG Africa Social Media: Competitor Summary
TFG AFRICA SOCIAL MEDIA: Competitor summary COMPETITORS 1 million 2 million 3 million 4 million 5 million 6 million 7 million 8 million 9 million 10 million FACEBOOK AUDIENCE TWITTER AUDIENCE INSTAGRAM AUDIENCE 11 TFG RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 12: Strong Online Traffic Market Share
STRONG ONLINE TRAFFIC MARKET SHARE “Online Only" Brands "Brick & Mortar" Brands Zando Yuppiechef Edgars 4% Superbalist 4% 2% Truworths 10% 5% TFG Cottonon 37% 4% MRP TFG 10% 24% Takealot 60% Dischem 8% Clicks Woolworths 12% 12% Source: SimilarWeb (Online monitoring tool), measured in user sessions f
Slide 13: Sportscene & myTFGworld Apps
SPORTSCENE & myTFGworld APPS myTFGworld Sportscene Online App Online App Launched 50K Downloads since launch in July 36% of sales come Launched through the App 1 Sept 13 TFG RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 14: Jewellery Online
JEWELLERY ONLINE: Launched 17 Aug 2020 – now 20 TFG Africa e-commerce sites 537K Site visits since launch 321K Site visits since launch 14 TFG RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 15: Jewellery Online: Galaxy & Co Launch
JEWELLERY ONLINE: Galaxy & Co launch as pure-play e-commerce site • Launching a pure-play jewellery brand serving a young and dynamic generation • Everyday fashion fine jewellery for our younger customers who are lifestyle led, quality & value driven and inspired by experiences • Galaxy & Co: truste
Slide 16: COVID-19: Accelerated Shift to Local Procurement
COVID-19: Accelerated shift to local procurement Apparel, footwear Homeware Jewellery and accessories 33% 45% 57% Locally sourced product Locally sourced product Locally sourced product (+15% increase on LY) (+14% increase on LY) (+3% increase on LY) Locally sourced product YTD Sept 2020 34% +4% inc
Slide 17: Jet: Further Expansion into Value Market
JET Further expansion into value market TRANSACTION INFO Acquired • 382 stores (425 once BLNE transactions finalised) • c.R5-6bn annualised turnover • >5 000 employees • Total assets R2,7bn • Stock of R473m including good contribution of summer stock • Transaction value R333,2m • Provisional gain on
Slide 18: Jet: Key Reflections to Date
JET Key reflections to date SURPRISES CREDIT PROFITABILITY • Absolutely none • RCS relationship • All stores profitable from day 1 • Prior knowledge helpful • Capital light based on realistic forecasts INTEGRATION PROGRESS & CONSIDERATIONS INVENTORY STORE ESTATE • Integration well under way • Deal p
Slide 19: Jet: Before
JET Before…. Lack of sufficient store lighting, blocked display windows, clutter…. TFG RESULTS PRESENTATION 19 FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 20: Jet: After - Inviting Shopfronts
JET After…. Inviting shopfronts TFG RESULTS PRESENTATION 20 FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 21: Jet: After - Clear Focal Areas
JET After…. Clear focal areas TFG RESULTS PRESENTATION 21 FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 22: Jet: After - Key Essential Items
JET After…. Key essential items TFG RESULTS PRESENTATION 22 FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 23: Jet: After - Open Flow
JET After…. Open flow TFG RESULTS PRESENTATION 23 FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 24: Sustainability: Key Strategic Pillar
Our Sustainability Pillars through the Value Chain SUSTAINABILITY: KEY STRATEGIC PILLAR Localisation and job creation • Retained Level 6 despite code amendments Environmental • More than R1bn spent in FY20 supporting Procurement and CSI (scorecard) efficiency • Looking forward – significant investme
Slide 25: Group Financial Performance
GROUP FINANCIAL PERFORMANCE Bongiwe Ntuli
Slide 26: Financial Performance Overview
FINANCIAL PERFORMANCE OVERVIEW 26,1% decline in Turnover, EBITDA margin decline 1,1% • Trade heavily impacted by significant store closures (c.8 weeks lost turnover) and further lockdowns in international HIGHLIGHTS countries • Trading expense reduction of 22,8% ~ includes government subsidy, rental
Slide 27: Turnover Drivers: Merchandise Category
TURNOVER DRIVERS Exceptional performance from Homeware and Cellular categories MERCHANDISE CATEGORY 2,7% 3,3% Cosmetics -34,3% 5,5% CONTRIBUTION GROWTH 8,9% Jewellery & Accessories -42,1% Homeware & Furniture -10,0% Cellular 17,6% 79,6% Clothing -28,8% • Cellular contribution +3,3% and homeware cont
Slide 28: Turnover Drivers: Online Turnover Exceeded Expectation
TURNOVER DRIVERS Online Turnover exceeded expectation GEOGRAPHY TENDER TYPE CHANNEL CONTRIBUTION CONTRIBUTION CONTRIBUTION 18% 14,4% 23,4% 16% 66% 76,6% 85,6% GROWTH GROWTH GROWTH 25,6% -56,2% -30,9% -22,1% -26,9% -23,0% -34,7% TFG Africa TFG London TFG Australia ZAR GBP AUD Cash Credit Store Online
Slide 29: Quarterly Turnover Trends
QUARTERLY TURNOVER TRENDS: Significantly improved Q2 ‘21 despite further lockdowns TFG Africa TFG London TFG Australia Group Q1 Q2 Q1 Q2 Q1 Q2 Q1 Q2 • Improvements in Q2 turnover recorded in all regions, even with the 2nd lockdowns in international countries +52,6% +63,5% • Africa for the month of S
Slide 30: Gross Margin Analysis
GROSS MARGIN ANALYSIS Impacted by COVID-19 provisions and competition TFG TFG TFG Africa London Australia Group SEPT 2020 41,1% 44,1% 60,7% 45,2% SEPT 2019 47,4% 61,7% 64,8% 53,2% 6,3% decline 17,6% decline 4,1% decline 8,0% decline Decline due to heavy Decline due to Decline due to stock competitio
Slide 31: Key Expenses Overview
KEY EXPENSES OVERVIEW Trading expenses down 23% YTD YTD % to retail % to retail Sept 2020 Sept 2019 % change turnover turnover Rm Rm Depreciation 429,8 3,4 411,8 2,4 4,4 Employee costs 2 232,7 17,8 3 096,3 18,3 (27,9) Occupancy costs 1 910,5 15,2 2 091,4 12,3 (8,6) Other operating costs 1 697,7 13,5
Slide 32: Impact of Non-Comparable Items
IMPACT OF NON-COMP ITEMS JET RIGHTS OFFER COVID-19 • Acquisition costs • Raised net proceeds of • Government relief R14,3m c.R3,8bn R796m • Provisional bargain • Additional shares • Rent relief R301,0m purchase gain on 94,27m at R41,90 per • Additional stock acquisition R694m share provisions (c.R3
Slide 33: Financial Position
FINANCIAL POSITION Bongiwe Ntuli
Slide 34: Financial Position Strengthened
FINANCIAL POSITION STRENGTHENED • Debt equity position improved 41,2% with FINANCIAL POSITION lower debt levels post the rights offer and deliberate debt reduction on maturity (R4,3bn) ROCE Current ratio • Available facilities as at 30 Sept were 9,3% (March 2020: 13,3%) 2,0x R9,2bn (TFG Africa R8,3b
Slide 35: Improved Debt to Equity Ratio of 11,2%
IMPROVED DEBT TO EQUITY RATIO OF 11,2% EBITDA to Net debt to Debt to DEBT TO EQUITY RATIO finance costs EBITDA equity 65,3% 62,0% 57,7% 52,4% R2,3bn 3,6 0,6 11,2% SEPT 2020 11,2% Net debt (pre-IFRS 16) FY2017 FY2018 FY2019 FY2020 H12021 6,8 1,6 52,4% MARCH 2020 Debt To Equity ratio GROUP DEBT REPAYM
Slide 36: Group Stock Summary
GROUP STOCK SUMMARY GROUP STOCK VALUE GROUP STOCK DAYS Total R8.4bn Total R7.5bn 1 164 A$ 106m Group & Africa below excludes JET 248 A$ 88m 1 055 1 662 £ 75m 211 £ 68m 1 474 186 184 186 177 185 167 489 5 606 4 439 TFG GROUP TFG AFRICA TFG LONDON TFG AUSTRALIA Sep 20 Mar 20 TFG AFRICA (excl JET) JET
Slide 37: Strong Cash Generation
STRONG CASH GENERATION R4,3 billion net cash from operations 37 TFG RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 38: Capex Spend
CAPEX SPEND Reduced by 61% While investment in digital transformation was prioritised, capital investment was pulled back to preserve liquidity R197,4m R514,3m 34% 59% (R177m) IT EXPAND 69% 64% (R117m) 62% STORES 62% MAINTAIN 31% 36% 35% (R318m) OTHER (R68m) SEPT 2020 SEPT 2019 6% (R12m) 4% (R19m) S
Slide 39: Finance: Looking Ahead
FINANCE ~ LOOKING AHEAD • Working capital management – continued focus • 2nd Half: Inventory levels to increase partially as we stock up Jet • Debtor book management • Capex run rate higher than first half, and will be largely digital and increase in line with economic recovery and Jet capex plans •
Slide 40: Managing Credit During COVID
MANAGING CREDIT DURING COVID Jane Fisher
Slide 41: Credit Growth
CREDIT GROWTH NEW ACCOUNTS • Credit marketing during COVID has been curtailed decreasing demand by 1 200 000 60% 55,0% 1 000 000 50% 800 000 40% • Approval rates have been reduced to less than 10% 600 000 30% 400 000 20% • Lack of new accounts and the hard lockdown have resulted in credit sales 200
Slide 42: Credit Quality
CREDIT QUALITY Cash Collected % of LY • In-store payment channel still channel of choice accounting for circa 80% of 120% payments, but many customers converted to electronic channels during 100% lockdown 80% 60% 40% • Customers are paying their accounts and running circa 10% lower than last 20% yea
Slide 43: Credit EBIT Summary
CREDIT EBIT SUMMARY TFG AFRICA % of credit TFG AFRICA % of credit TFG AFRICA September granted September granted % change 2020 2019 (Rm) (Rm) Income 927,4 19,5 1 227,3 15,9 (24,4) Net bad debt (778,4) 16,3 (617,0) 8,0 26,2 Credit costs (239,7) 5,0 (255,6) 3,3 (6,2) EBIT (90,7) (1,9) 354,7 4,6 (125,6
Slide 44: Credit Outlook
CREDIT OUTLOOK • Payment behaviour of the customer base remains robust and exceeds expectations • Strict credit lending criteria to remain in place as a result of the extended lockdown • Discussions regarding implementation of Debt Intervention Bill have commenced • Credit for Jet customers will be
Slide 45: Shane van Niekerk
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Slide 46: Jet Brand Overview: History
STRATEGIC JET BRAND OVERVIEW OVERVIEW KJet eyStores matters foracquired was the period in under review seven supermarkets 1965 featuring POWERED BY TFG 1965 1975 1985 1995 2005 2015 2020 1965 1976 1998 2007 2012 2019 Edcon Registered the Re-listed on Purchased Credit Sale of Active purchases Sales J
Slide 47: Jet Brand Overview
STRATEGIC JET BRAND OVERVIEW OVERVIEW KJet eyismatters for the period a meaningful under review value retailer in Southern Africa 1.1M R6bn Jet Facebook Net Sales followers 600k 5300 Jet Club Employees Facebook followers STORE 425 130k Stores in Instagram Southern Africa followers 47 TFG RESULTS PRE
Slide 48: Jet Brand Overview: Vision, Mission, Purpose
STRATEGIC OVERVIEW KJET BRAND ey matters for the OVERVIEW period under review To b e t h e m o s t l o v e d v a l u e r e t a i l e r i n VISION Southern Africa To a d d r e s s t h e l i f e s t y l e n e e d s o f v a l u e MISSION c o n s c i o u s c u s t o m e r s i n c l o t h i n g a n d h o
Slide 49: Jet Brand Overview: For Everyone in the Family
JET BRAND OVERVIEW We are for everyone in the family SAVVY + SINGLE TWO 2 TANGO ME + MINE KID ZONE ALL IN THE FAMILY Kids Only Entire Family Our Customers are… Singles Couples Single Parents • Classic to modern • Value conscious • Fashion followers 9% of customers 8% of customers 25% of customers 10
Slide 50: Strategic Overview: 16 Point Plan
STRATEGIC OVERVIEW 16 POINT PLAN: 2021/2021 Key matters for the period under review New assortment Store Grid 1 Strategy 5 Cosmetics/Colour 9 Extension 13 Cellular Availability Credit/Insurance 2 % in Stock/Colour 6 Exit Retail 10 Home 14 and Financial and Size Services Store 3 Denim 7 Accessories 1
Slide 51: TFG London
TFG LONDON Ben Barnett
Slide 52: TFG London: COVID-19 Impact on Turnover
TFG LONDON: COVID-19 impact on turnover STORE RE-OPENINGS TURNOVER LOCKDOWN LOCKDOWN 1000 LOCKDOWN LOCKDOWN LOCKDOWN 750 -37,8% -42,1% -45,0% 500 -62,1% -66,7% 250 -76,7% 0 Apr May Jun Jul Aug Sep April May June July August Sept Open Closed H1 2021 H1 2020 Total • Turnover since the March lockdown h
Slide 53: TFG London: Weak Sales, Partly Mitigated by Cost Control
TFG LONDON: Weak sales, partly mitigated by tight cost control 44,1% Sept 2020 Sept 2019 Gross margin % to turnover % to turnover % change (Sept 2019: 61,7%) £m £m Retail turnover 88,0 200,7 (56,2) EBITDA EBIT (5,6) (19,8) (6,4) (22,5) 28,4 12,4 14,2 6,2 (119,7) (259,7) -6,4% EBITDA* margin Occupanc
Slide 54: TFG London: Factors Mitigating Gross Margin Shortfall
TFG LONDON: Factors mitigating gross margin shortfall YTD EBIT Waterfall £m 85,0 12,4 7,9 1,8 19,6 23,5 Reductions in (19,8) occupancy, employment and operating costs partially mitigate the significant gross margin shortfall Sep-19 EBIT Gross Margin Occupancy Costs Depreciation Employment Other oper
Slide 55: Balance Sheet & Cash Flow
BALANCE SHEET & CASH FLOW Robust balance sheet maintained despite trading losses CASH BALANCES £m STOCK BALANCES £m 46,6 84.5 83.0 Renegotiated payment 79.4 terms with stock suppliers, Gross stock at Mar 2020 of government agreed £85m reduces to £83m at 27,8 deferrals of direct and Sept 2020 with pr
Slide 56: Outlook
OUTLOOK TFG London are repositioning for the post Covid recovery • UK retail market has rebounded strongly in recent months, with September showing total retail sales growth +3,4% on the prior year. Household goods have been in double digit growth • Clothing sales have seen a stark divide between gr
Slide 57: TFG Australia
TFG AUSTRALIA Gary Novis
Slide 58: TFG Australia: COVID-19 Impact - Sales
TFG AUSTRALIA: COVlD-19 impact - sales Comments: VIC & NZ First Wave: - All stores Closed on 27 March Prior Year - Sales - Tested COVID Safe re-opening April - All stores re-opened by end of May Second Wave: - 84 Victorian stores closed 6 August, Govt imposed lockdowns - 17 New Zealand stores closed
Slide 59: TFG Australia: Decline in EBITDA Less Than Turnover Decline
TFG AUSTRALIA: Decline in EBITDA less than turnover decline Sept 2020 Sept 2019 60,7% % to turnover % to turnover % change Gross margin A$m A$m (Sept 2019: 64,8%) Turnover 194,1 265,4 (26,9) EBITDA 60,9 31,4 68,1 25,7 (10,6) EBIT 18,0 9,3 27,2 10,2 (33,8) 31,4% Occupancy costs 47,8 24,6 50,0 18,8 (4
Slide 60: TFG Australia: EBIT Bridge
TFG AUSTRALIA: EBIT bridge EBIT - YTD SEP 19 TO YTD SEP 20 27,2 4.0 18,0 4.4 (0.2) 6.1 (1.2) 16.6 (4.0) 19.4 (54.2) YTD Sep19 Decline in Jobkeeper Other wage Rent - new & Rent - Restructure Savings - Depreciation Other YTD Sep20 GP savings annual COVID costs travel & increase savings marketing - Sal
Slide 61: TFG Australia: Cash, Borrowings and Facilities
TFG AUSTRALIA: Cash, borrowings and facilities 33,6 CASH FLOW - YTD SEP19 VS YTD SEP20 Cash & Facilities: • Cash in Bank $47,9m • Available facility $65m (Utilised /drawn $0) • Facility Covenants satisfied as at September 2020 0 • Improved cash position +$34,1m • Support from Government & Landlords:
Slide 62: TFG Australia: Outlook
TFG AUSTRALIA: Outlook • Strategy remains unchanged • COVID-19 has highlighted numerous strengths including: • The ability to manage wind down and ramp up • The strength of supplier relationships • A sound business continuity plan • The growing online presence of the business • Confirmation of the s
Slide 63: Outlook & Conclusion
OUTLOOK & CONCLUSION Anthony Thunström
Slide 64: Outlook: H2
OUTLOOK: H2 RETAIL SALES FOR OCTOBER H2: 2021 FIN YEAR • Trading conditions and consumer confidence remain under pressure, further job • Africa losses expected Encouraging performance • 2nd COVID-19 lockdowns a real threat for near term o Turnover +8% o Credit sales down -11% • Black Friday/ Christm
Slide 65: Strategic Outlook
STRATEGIC OUTLOOK • TFG remains a highly successful retailer with incredibly strong brand positioning • Over 4 500 outlets which includes c.425 new locations with JET – further TFG expansion / presence opportunities • 16m+ Rewards customers • World class in-house credit • Partially tapped VAS opport
Slide 66: Disclaimer
DISCLAIMER This announcement contains certain forward-looking statements with respect to the financial condition and results of operations of The Foschini Group Limited and its subsidiaries, which by their nature involve risk and uncertainty because they relate to events and depend on circumstances
Slide 67: Appendices
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Slide 68: COVID-19: Impact on Macro Environment
COVID-19: Impact on macro environment Business Consumer GDP confidence confidence Improvement in business confidence as All three major territories in Consumer spending remains economies open – further deterioration recession under pressure expected as restrictions tightened again with 2nd wave of i
Slide 69: COVID-19: Impact on Employment
COVID-19: Impact on employment TFG AFRICA TFG LONDON TFG AUSTRALIA 23,3% 4.5% 6.8% UNEMPLOYMENT UNEMPLOYMENT UNEMPLOYMENT Q2 2020 Aug 2020 Aug 2020 Expanded unemployment Redundancies at highest Highest levels since rate increased by 2,3% level since July 2009 Sept 2015 TFG RESULTS PRESENTATION 69 FO
Slide 70: Sept 2020 Results
SEPT 2020 RESULTS
Slide 71: Income Statement
INCOME STATEMENT GROUP GROUP % to turnover % to turnover % change Sept 2020 Sept 2019 Revenue (Rm) 13 861,8 18 567,7 (25,3) Retail turnover (Rm) 12 530,0 16 955,2 (26,1) Cost of sales (Rm) (6 866,0) 54,8 (7 928,2) 46,8 (13,4) Gross profit (Rm) 5 664,0 45,2 9 027,0 53,2 (37,3) Interest and other inco
Slide 72: Group Statement of Financial Position
GROUP STATEMENT OF FINANCIAL POSITION UNAUDITED AUDITED Sept 2020 % change Mar-20 Rm Rm Non‐current assets 22 853,8 6,8 21 403,4 Current assets 20 377,7 (1,8) 20 755,3 Inventory 7 457,2 (11,6) 8 431,1 Trade receivables ‐ retail 6 793,1 (12,5) 7 762,4 Other receivables and prepayments 1 227,8 (17,6)
Slide 73: Revenue Breakdown
REVENUE BREAKDOWN Retail turnover of Interest income -26,1% R12,5bn • Interest rate decrease of 300 bps 91% • Reduced net debtors book H1 Sept 2020 performance (R7bn, down 9,6% since Sept 2019) H1 FY 2021 Interest income of CONTRIBUTION -22,8% R719m Other income TO REVENUE • Value-added services R34
Slide 74: TFG Africa
TFG AFRICA Bongiwe Ntuli
Slide 75: TFG Africa
TFG AFRICA Sept 2020 Sept 2019 41,1% % to turnover % to turnover % change Gross margin Rm Rm (Sept 2019: 47,4%) Turnover 8 271,2 10 619,6 (22,1) EBITDA 1 708,7 20,7 3 039,4 28,6 (43,8) EBIT 2 388,7 6,1 1 827,4 17,2 (21,4) 28,9% Occupancy costs 1 042,5 12,6 1 196,6 11,3 (12,9) EBITDA* margin Occupanc
Slide 76: TFG Africa: Turnover Growth Split per Trading Period
TFG AFRICA: Turnover growth split per trading period – improving trends TFG Africa 41,8% 31,8% 17,6% 8,0% 9,2% -10,0% -8,9% -7,8% -10,5% -12,7% -15,3% -22,0% -21,6% -22,1% -25,7% -34,3% -35,5% -41,0% 6-month turnover growth (April – Sept 2020) 5-month turnover growth (May – Sept 2020) 4-month turnov
Slide 77: Additional Credit Information
ADDITIONAL CREDIT INFORMATION
Slide 78: TransUnion: Deteriorating Credit Health
TRANSUNION: DETERIORATING CREDIT HEALTH Q3:+16% Q2:+21% YoY • The CCI worsened to 44,0 in Q3 and Q2 of 2020 following significant YoY growth in defaults, despite payment holidays, TERS support, relatively flat household cash flow and reduced interest rates • Further payment holidays are not expected
Slide 79: Credit Key Ratios
CREDIT KEY RATIOS TFG AFRICA TFG AFRICA Key indicators Sept 2020 Sept 2019 % change Number of applications 503 613 1 119 000 -55,0% Accept rates 9,1% 35,8% Number of new accounts 45 885 400 807 -88,6% Number of active accounts (‘000) 2 594,3 2 723,6 -4.7% Credit turnover (Rm) 2 934,4 4 495,3 -34,7%
Slide 80: Brand Overview
BRAND OVERVIEW
Slide 81: Business Overview
BUSINESS OVERVIEW UPPER MARKET MID TO UPPER MARKET MID TO UPPER MARKET MID MARKET VALUE MARKET 81 TFG RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 82: Our Footprint
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Slide 83: TFG International Footprint
TFG INTERNATIONAL FOOTPRINT 4 345 TFG OUTLETS 31 COUNTRIES 2 949 861 535 TFG AFRICA OUTLETS TFG LONDON OUTLETS TFG AUSTRALIA OUTLETS 66% 16% 18% Contribution to turnover Contribution to turnover Contribution to turnover 83 TFG RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 84: Our Footprint Movement Since 1 April
OUR FOOTPRINT MOVEMENT SINCE 1 APRIL 2 567 Sept 20 (excl Jet) 861 Sept 20 2 582Sept 19 972 Sept 19 535Sept 20 3 963 Sept 20 (excl Jet) 512Sept 19 4 066 Sept 19 84 TFG RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 85: TFG Africa Footprint
TFG AFRICA FOOTPRINT SOUTH AFRICA TOTAL STORES CONCESSION Gauteng 802 802 0 COUNTRY TOTAL STORES CONCESSIONS South Africa 2 758 2 758 0 Western Cape 460 460 0 Namibia 102 102 0 Kwazulu-Natal 338 338 0 Zambia 31 31 0 Eastern Cape 248 248 0 Botswana 30 30 0 Mpumulanga 240 240 0 Lesotho 12 12 0 Limpopo
Slide 86: TFG London Footprint
TFG LONDON FOOTPRINT EUROPE TOTAL STORES CONCESSIONS AUSTRALASIA TOTAL STORES CONCESSIONS UK & Ireland 595 201 394 Hong Kong 20 18 2 Switzerland 42 6 36 Japan 8 0 8 Germany 49 0 49 Singapore 10 2 8 Spain 21 0 21 Australia 3 0 3 Netherlands 12 0 12 Macau 3 0 3 Sweden 9 1 8 Belgium 4 0 4 NORTH AFRICA
Slide 87: TFG Australia Footprint
TFG AUSTRALIA FOOTPRINT AUSTRALIA TOTAL STORES CONCESSIONS Australia 505 480 25 New Zealand 30 30 0 87 TFG RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
Slide 88: Results Presentation Half-Year 2021
RESULTS PRESENTATION FOR THE HALF-YEAR ENDED 30 SEPTEMBER 2020 HALF- YEAR 2021