Industria De Diseno Textil, S.a. · BME:ITX

Industria De Diseno Textil — FY2009 Earnings Presentation

27 slides from Industria De Diseno Textil's earnings presentation, Mar 17, 2010

  1. Slide 1: FY2009 Results Presentation

    FY2009 Results Presentation 17 March 2010

  2. Slide 2: Disclaimer

    Disclaimer This document is of a purely informative nature and does not constitute an offer to sell, exchange or buy, or the solicitation of an offer to buy, securities issued by any of the companies mentioned herein. This document contains forward-looking statements. All statements other than state

  3. Slide 3: FY2009: Overview

    FY2009: Overview  Satisfactory sales growth of 9% in local currencies  Ongoing international expansion  High operational efficiency and cost control  Strong cash flow and reinvestment in the business  Increased shareholder remuneration 3

  4. Slide 4: FY2009 Highlights

    FY2009 Highlights million € FY2009 % 09/08 Net sales 11,084 7% Gross profit 6,328 7% EBITDA 2,374 9% Net income 1,314 5% Funds from operations 2,060 11% 4

  5. Slide 5: Sales by geographical areas

    Sales by geographical areas Store sales (%) FY2009 FY2008 Americas Europe ex-Spain 46% 45% Asia & RoW Europe Spain 32% 34% Ex-Spain Asia 12% 10% Spain Americas 10% 11% Store sales: Includes sales in OMS and franchises 5

  6. Slide 6: Sales growth breakdown in 2009

    Sales growth breakdown in 2009 +9% growth in local currencies 11,084 10,407 0% +9% (2%) FY2008 LFL Space Currency FY2009 6

  7. Slide 7: Satisfactory gross margin evolution

    Satisfactory gross margin evolution % on sales FY2009 FY2008 % 09/08 Gross margin 57.1% 56.8% 27 b.p.  Flexible business model  Sustained commercial policies 7

  8. Slide 8: Tight control of operating expenses

    Tight control of operating expenses million € FY2009 % 09/08 Personnel expenses 1,792 5% Rental expenses 1,134 10% Other operating expenses 1,027 5% Total 3,953 7%  FY2009 efficiencies plan fully achieved 8

  9. Slide 9: Flexible business model

    Flexible business model million € FY2009 FY2008 Inventory 993 1,055 Receivables 422 585 Payables (2,270) (2,157) Operating working capital (856) (517) 9

  10. Slide 10: Strong cash flow

    Strong cash flow million € FY2009 Funds from operations 2,060 CAPEX 510 Dividends 662 10

  11. Slide 11: Inditex concepts

    INDITEX Inditex concepts

  12. Slide 12: Sales by concept

    Sales by concept Concept FY2009 FY2008 Zara 63.8% 65.6% Non Zara 36.2% 34.4% Non- Zara Pull and Bear 7.0% 6.9% Zara Massimo Dutti 7.1% 6.9% Bershka 10.6% 9.9% Stradivarius 6.3% 6.1% Oysho 2.5% 2.3% Zara Home 2.2% 2.1% Uterqüe 0.4% n.a. 12

  13. Slide 13: Zara

    Zara million € FY2009 % 09/08 Net Sales 7,077 4% EBIT 1,105 5% EBIT margin 15.6%  Sales growth in local currency +6% 13

  14. Slide 14: Concepts

    Concepts  Continued growth for the concepts  Strong performance of Bershka  Solid recovery of Zara Home and Oysho  Successful expansion of Uterqüe: 60 stores in 13 countries 14

  15. Slide 15: Outlook

    INDITEX Outlook

  16. Slide 16: Outlook

    Outlook  Global growth opportunities  Growth profile 2010-2012  Outlook FY2010 16

  17. Slide 17: Global growth opportunities

    Global growth opportunities  Inditex: strong growth potential  flexible business model  latest fashion trends at the right time at affordable prices  multiconcept approach  business model avoids the main fixed costs associated with international expansion 17

  18. Slide 18: Global growth opportunities

    Global growth opportunities  Profitable expansion of the business remains a key priority  Focus in Europe and Asia 18

  19. Slide 19: Global growth opportunities: Growth in Europe

    Global growth opportunities  Growth in Europe: Inditex domestic market  Expansion area for all the concepts  Market share below 1% in most countries  Strong growth markets • Italy, France, Germany, UK • Eastern Europe and Russian Federation 19

  20. Slide 20: Global growth opportunities: Growth in Asia

    Global growth opportunities  Growth in Asia: Leveraging on a strategic presence  Markets in transformation  Multiconcept expansion  Main growth markets: China, Japan, Korea  India: first Zara openings in May 2010 20

  21. Slide 21: Global growth opportunities: Growth in the Americas

    Global growth opportunities  Growth in the Americas:  Build on current platform through selective expansion 21

  22. Slide 22: Growth profile 2010-2012

    Growth profile 2010-2012 International Multiconcept Americas c10% Asia & Non-Zara RoW Europe ex- c40% Zara c20% Spain c50% c60% Spain c20%  Profitable investment in the expansion of our business in markets with attractive long term returns  Highly diversified sales platform: stores in more than 80

  23. Slide 23: FY2010: Outlook

    FY2010: Outlook  Zara online sales:  On track for launch in Autumn- Winter 2010  Initially in France, Germany, Italy, Portugal, Spain and UK  Progressive rollout in all Zara markets 23

  24. Slide 24: FY2010: Outlook

    FY2010: Outlook Store opening programme Range % Int’l Zara 110 120 98% Pull and Bear 40 50 95% Massimo Dutti 25 35 98% Bershka 45 50 98% Stradivarius 65 75 95% Oysho 30 35 80% Zara Home 25 30 65% Uterqüe 25 30 65% Total net openings 365 425  c95% new space in International markets  Capital Expendi

  25. Slide 25: FY2010: Outlook

    FY2010: Outlook  Shareholder remuneration  FY2009 dividend proposal 1.20 € per share payable: • 3 May: 0.60 € ordinary • 2 November: 0.50 € ordinary + 0.10 € bonus  748 million € to be distributed to shareholders  14% increase over FY2008 25

  26. Slide 26: FY2010: Outlook

    FY2010: Outlook  Store sales in local currencies have increased by 14% from 1 February to 14 March 2010  The Spring-Summer season is influenced by the performance over the Easter period due to its significant sales volumes 26

  27. Slide 27: FY2009 Results Presentation Q&A

    FY2009 Results Presentation Q&A 17 March 2010

Industria de Diseño Textil, S.A. (Inditex) — FY2009 Earnings Presentation on 6ix