Super Retail Group Limited · ASX:SUL
Super Retail — FY2013 Earnings Presentation
19 slides from Super Retail's earnings presentation, Aug 21, 2013
Slide 1: Notice to ASX: Correction, document PDF conversion issue
For personal use only 21 August 2013 Ms Melissa Grundy State Manager QLD ASX Compliance Level 5 Riverside Centre 123 Eagle Street BRISBANE QLD 4000 Dear Melissa, NOTICE TO ASX: CORRECTION, Super Retail Group Limited (ASX: SUL) – Document PDF conversion issue With regard to the Super Retail Group 201
Slide 2: Super Retail Group Results for the 52 weeks to 29 June 2013
For personal use only Super Retail Group Results for the 52 weeks to 29 June 2013 Peter Birtles, Managing Director David Burns, Chief Financial Officer 21st August 2013
Slide 3: Group Highlights
Group Highlights 2 For personal use only Sales LFL % 12/13 11/12 10/11 09/10 08/09 07/08 • Group NPAT up by 23% SCA 5.0% 3.9% 4.8% 5.0% 7.3% 4.1% • Group EBIT up by 22% Leisure* 3.1% 6.5% 4.6% 4.8% 12.5% 5.7% • Group Sales up by 22% Sports 8.0% 5.8% *Leisure is BCF only until 11/12 • Results continu
Slide 4: Performance Trends
Performance Trends 3 For personal use only • EPS adjusted to take into account the bonus element in the 2011/12 entitlement offer • Post Tax ROC adjustment due to capital calculation reclassification
Slide 5: Group Results
Group Results 4 For personal use only • June 2013 result includes full 52 week contribution 2012/13 Change from Rebel/Amart (pcp 35 weeks) $m on pcp • Solid sales growth in all divisions through both strong LFL growth and new stores • Group NPAT impacted by Ray’s Outdoors and Sales 2,020.0 22.1% Gol
Slide 6: Divisional Results
Divisional Results 5 For personal use only 2012/13 2011/12 Sales EBIT Sales EBIT $m $m $m $m Auto Retailing 789.0 87.1 732.3 77.4 Leisure Retailing 522.5 33.2 456.3 32.6 Sports Retailing 703.5 63.4 460.3 49.4 Group & Unallocated 5.0 (11.4) 5.2 (18.7) Total Group 2,020.0 172.3 1,654.1 140.7 • Leisure
Slide 7: Auto Retailing
Auto Retailing 6 For personal use only 2012/13 change on • Divisional result includes Supercheap Auto and Auto $m pcp Trade Direct (not material at this stage) Sales 789.0 7.8% • Strong sales from new stores and increased momentum in LFL sales growth at 5.0% growth in PCP. LFL sales growth 5.0% • So
Slide 8: Leisure Retailing
Leisure Retailing 7 For personal use only • Overall results reflected solid sales and margin 2012/13 change on growth at BCF and Ray’s Outdoors and strong sales pcp growth for FCO. $m • 14 nett new BCF stores and 3 nett new Ray’s Sales 522.5 14.5% Outdoors stores opened to bring total stores to 105
Slide 9: Sports Retailing
Sports Retailing 8 For personal use only • Sports Retailing result includes 52 weeks of 2012/13 change on Rebel/Amart, prior period included 35 weeks. Due pcp to sales seasonality care should be taken in $m interpreting reported comparisons to PCP Sales 703.5 52.8% • Contribution from Rebel / Amart
Slide 10: Group and Unallocated
Group and Unallocated 9 For personal use only • Group and Unallocated includes SRG Commercial, 2012/13 change on consolidated investment in Oceania Bicycles and pcp Group costs not allocated to segments $m • Rebel Group acquisition costs are held at group and Sales 5.0 (3.8%) not allocated to busine
Slide 11: Gross Margin & Cost of Doing Business
Gross Margin & Cost of Doing Business 10 For personal use only 33.7% 0.3% -0.3% 44.5% 0.4% 1.0% 0.3% 0.3% -0.3% 0.2% 43.8% 32.5% GP% Mvmt Ray’s/ GP% Adj Stores Mktg Outgoings Multi- Mix Rays/ CODB% CODB% Channel GX Prov. 2012/13 2011/12 GX Prov. 2012/13 2011/12 • Gross margins have increased in Auto
Slide 12: Group Cash Flow
Group Cash Flow 11 For personal use only Jun 13 Jun 12 • New and refurbished store investment of $68.5m (including store set-up and store fitout $m $m capex) is being fully funded out of operating cash flows Operating cash flow 250.0 179.8 • Investment in new and refurbished store capex (pre store s
Slide 13: Group Balance Sheet
Group Balance Sheet 12 For personal use only Jun 13 Jun 12 • Inventory growth from new stores and $m $m merchandise growth initiatives is offset by strong funding from creditors • SCA closing average inventory per store is 4% Inventory higher than PCP due to earlier receipting of - Auto Retailing 16
Slide 14: Returns & Capital Ratios
Returns & Capital Ratios 13 For personal use only 2013 2012 • Improvement in EPS ratio reflect improved profit performance EPS – reported 52.3c 46.4c • All cover ratios are well within covenanted levels • Average net debt increase as a result of the Fixed charge cover 1.93x 1.94x Rebel acquisition.
Slide 15: Group Strategic Programs
Group Strategic Programs For personal use only
Slide 16: Range, Brand and Service Development
Range, Brand and Service Development 15 For personal use only Channel and Customer Development Range Development • New stores • New product introduction • Auto – Grow to 320 stores • Circa 20 to 25% of product renewed • Leisure – Grow to 220 stores annually • Sports – Grow to 185 stores • Focus on g
Slide 17: Integrated Multi Channel Capabilities
Integrated Multi Channel Capabilities 16 For personal use only Understanding and Engaging Customers Supply Chain & Inventory Management Objectives: Objectives: • Engaging and integrated customer experience • The right supply chain to support a $3bn + multi across all channels channel multi business
Slide 18: Supporting Capabilities
Supporting Capabilities 17 For personal use only Operating Model and Reporting Attracting and Engaging Team Members Objectives: Objectives & Current Performance: • Reduce business operating costs by 2% of sales • Achievement of KPIS in areas of Attraction, Retention, Engagement, Safety, Succession a
Slide 19: Looking Forward
Looking Forward 18 Auto Retailing For personal use only • LFL sales growth in the first 7 weeks of 13/14 circa 3% • SCA store development : plan to open 5 new store, complete 32 refurbishments and relocations (including 5 super stores and 4‘store of the future’ pilot stores) • Full year gross margin