Slide 1: 9M18 Financial Results
9M18 FINANCIAL RESULTS December 12, 2018
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: 9M18 Highlights
2 9M18 Highlights Market share was at 8% (+16bps vs. Jan 2018 and +33 bps vs. Oct 2017), still growing in the period. Total Net Sales excluding the sell-in to Sempione Fashion AG -1.4% 9M18 Net Sales reached €1,010.5m. The decrease of -1.4% vs. 9M17 was driven by difficult weather conditions that im
Slide 4: Key Income Statement Items 9M18 Results
3 Key Income Statement Items 9M18 Results 31.10.2018 31.10.2018 31.10.2017 31.10.2017 Chg. Chg. % € mln Reported Adjusted Reported Adjusted (Adjusted) (Adjusted) Net Sales 1,073.2 1,073.2 1,117.7 1,117.7 (44.5) (4.0%) Net Sales* 1,010.5 1,010.5 1,024.8 1,024.8 (14.2) (1.4%) EBITDA 41.7 104.1 135.8 1
Slide 5: Sales and EBITDA Performance in 9M18
4 Sales and EBITDA Performance in 9M18 Net Sales (€mln) EBITDA (€mln) Aggregate Performance 1,118 1,073 13.5% 10.3% Performance By Brand 13.6% 10.1% 12.5% 11.4% (*) EBITDA margin calculated excluding the sell-in to Sempione Fashion AG Margin % (*)
Slide 6: Consolidated Trade Working Capital
5 Consolidated Trade Working Capital Change Oct18- €mln 31 October '18 31 October '17 Oct17 Trade Receivables 165.5 148.5 17.0 Inventory 442.4 374.0 68.4 Trade Payables (413.1) (400.6) (12.5) Trade Working Capital 194.8 121.9 72.9 • Trade working capital is €73m higher compared to 31Oct17. During th
Slide 7: Capex
6 Capex 9M 2018 Capex breakdown (€ mln) Refurbishment, maintenance and other commercial projects of the existing network (c. 59.8% of total) New openings (c. 18.9% of total) IT and special projects (c. 17.8% of total) Capex for the maintenance of the headquarter building, logistics and others (c. 3.
Slide 8: Net Debt and Leverage
7 Net Debt and Leverage € mln 31st October 2018 31st October 2017 Net Debt 424.3 365.7 Net Debt 440.4 334.8 MtM of Derivatives Excluded Adjusted EBITDA LTM 162.6 198.7 • As of 31st October 2018 Net Debt was equal to €440.4m excluding MtM derivatives, and to €424.3m reported, considering the MtM posi
Slide 9: Consolidated Cash Flow Statement
8 Consolidated Cash Flow Statement 31 October '18 31 October '17 EBITDA Adjusted 104.1 138.0 Adjustments1 (62.4) (2.2) EBITDA 41.7 135.8 9M18 operating cash flow worsened by Change in Net Operating Working Capital (97.3) (73.7) €107.5m vs. the same period of last year, Other changes in Working Capit
Slide 10: Outlook
9 Outlook • The exceptional warm weather continued also until the third week of November, thus still penalizing sales. Looking at the first days of December, market weakness didn’t change as the “Black Friday” effect resulted in lower sales in the days after, pushing customers to wait until the Janu
Slide 11: Appendix
OVS Appendix
Slide 12: Consolidated Profit and Loss and related adjustments
11 Consolidated Profit and Loss and related adjustments 31.10.2018 31.10.2018 31.10.2017 31.10.2017 Chg. Chg. % € mln Adjustments Adjustments Reported Adjusted Reported Adjusted (Adjusted) (Adjusted) Net Sales 1,073.2 1,073.2 1,117.7 1,117.7 (44.5) (4.0%) Net Sales* 1,010.5 1,010.5 1,024.8 1,024.8 (