Adairs Ltd. · ASX:ADH
Adairs — Shareholder Meeting (October 2019)
18 slides from Adairs's shareholder meeting presentation, Oct 25, 2019
Slide 1: Adairs Limited Annual General Meeting
Adairs Limited Annual General Meeting 25 October 2019
Slide 2: Michael Butler, Chairman
Michael Butler Chairman oo PP FPN
Slide 3: FY 2019 results
FY 2019 results Sales growing across both channels ► Sales +9.7% to $344.4m / Like for like (LFL) sales +7.2% ► Online sales +42% to $58.8m (now 17% of total sales) Solid gross profit result ► Gross profit +6.7% to $197.1m ► Gross margin rate -110bp to 59.2% (pre AASB 15) ► Impacted by higher distri
Slide 4: Mark Ronan
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Slide 5: Key metrics recap: Our strategy
AKey recap: P&LOur strategy metrics ($ Million) FY19 FY18^ %D EBIT $m Sales 344.4 314.0 9.7% 44.5 43.4 38.9 Gross Profit 197.1 184.7 6.7% 32.1 30.4 Underlying 59.2% 60.3% GP% CODB 146.0 133.3 9.5% FY15^ FY16^ FY17^ FY18^ FY19 CODB % 42.4% 42.5% Record sales offset by higher distribution costs EBITDA
Slide 6: How we executed on our strategy in FY19
AHow recap: weOur strategy executed on our strategy in FY19 Expansion categories growth drove like for like sales +7.2% Product Focus remains on providing differentiated on-trend product More Inspiring Opened 5 new stores, refurbished 11 stores (5 upsized) Larger Stores Average store size (G
Slide 7: FY20 Outlook
FY20 Outlook ► Trading for the first 16 weeks of FY20 has delivered LFL sales growth of +3.3% with stores sales +0.8% and online sales +16.6%. ► Our focus remains on growing LFL Gross Margin dollars ► FY20 guidance remains unchanged Pre AASB 16 impact FY20 Guidance Year End Stores 169 – 171 Sales ($
Slide 8: Meeting Resolutions
MEETING RESOLUTIONS
Slide 9: 1. Annual Financial Report
1. Annual Financial Report “To receive and consider the Financial Report of the Company and its controlled entities and the Reports of the Directors and Auditor for the year ended 30 June 2019.” 8
Slide 10: 2a. Re-election of Directors
2a. Re-election of Directors “That Trent Peterson, being eligible, be re- elected as a Director of the Company.” Usable Proxies Received Proxies % of Eligible Votes Cast (excluding abstentions) For: 90,929,065 79.70% Open/Undirected 360,890 0.32% (Chairman) Open/Undirected (Other) 312,870 0.27% Agai
Slide 11: 2b. Re-election of Directors
2b. Re-election of Directors “That Kate Spargo, being eligible, be re-elected as a Director of the Company.” Usable Proxies Received Proxies % of Eligible Votes Cast (excluding abstentions) For: 90,014,992 78.90% Open/Undirected 360,890 0.32% (Chairman) Open/Undirected (Other) 312,870 0.27% Against:
Slide 12: 3a. Election of Directors
3a. Election of Directors “That Kiera Grant, being eligible, be elected as a Director of the Company.” Usable Proxies Received Proxies % of Eligible Votes Cast (excluding abstentions) For: 90,793,252 79.59% Open/Undirected 387,186 0.34% (Chairman) Open/Undirected (Other) 312,870 0.27% Against: 22,58
Slide 13: 3b. Election of Directors
3b. Election of Directors “That Simon West, being eligible, be elected as a Director of the Company.” Usable Proxies Received Proxies % of Eligible Votes Cast (excluding abstentions) For: 90,717,554 79.52% Open/Undirected 387,615 0.34% (Chairman) Open/Undirected (Other) 312,870 0.27% Against: 22,658
Slide 14: 4. Remuneration Report
4. Remuneration Report “That the Remuneration Report for the year ended 30 June 2019 be adopted.” Usable Proxies Received Proxies % of Eligible Votes Cast (excluding abstentions) For: 110,908,636 99.13% Open/Undirected 354,045 0.32% (Chairman) Open/Undirected (Other) 312,870 0.28% Against: 308,687 0
Slide 15: 5. Approval of long term incentive grant of options to Mark Ronan
5. Approval of long term incentive grant of options to Mark Ronan “That approval be given for all purposes, including ASX Listing Rule 10.14, for the grant of options to Mark Ronan as his annual long term incentive for the year ended 28 June 2020 on the terms described in the explanatory notes accom
Slide 16: 6. Approval of long term incentive grant of options to Michael Cherubino
6. Approval of long term incentive grant of options to Michael Cherubino “That approval be given for all purposes, including ASX Listing Rule 10.14, for the grant of options to Michael Cherubino as his annual long term incentive for the year ended 28 June 2020 on the terms described in the explanato
Slide 17: Meeting Closed
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Slide 18: Disclaimer
Strong Omni Channel Execution Disclaimer Some of the information contained in this presentation contains “forward-looking statements” which may not directly or exclusively relate to historical facts. These forward-looking statements reflect Adairs Limited current intentions, plans, expectations, ass