Aeffe S.p.a. · MIL:AEF
Aeffe — FY2021 Earnings Presentation
26 slides from Aeffe's earnings presentation, Mar 17, 2022
Slide 1: Consolidated Financial Presentation Fiscal Year 2021
AEFFE Consolidated Financial PRESENTATION FISCAL YEAR 2021 17th March 2022
Slide 2: Share Information and Disclaimer
SHARE INFORMATION AND DISCLAIMER This presentation is being furnished to you solely for your information on a confidential basis and may not be reproduced or redistributed to any other person. This presentation does not constitute or form part of any offer to sell or invitation to purchase or subscr
Slide 3: Aeffe Group 2021
AEFFE GROUP 2021 ALBERTA FERRETTI MOSCHINO. eurresor’Y — PoLtini 4 € 324,6 MLN MAISONS REVENUE eee e 200 1.287 MONOBRAND EMPLOYEES STORES 69 4 COUNTRIES COMPANIES
Slide 4: Organization Structure & Ownership
ORGANIZATION STRUCTURE & OWNERSHIP AEFFE GROUP AEFFE (Holding) MOSCHINO VELMAR POLLINI Massimo Ferretti Stefano Secchi Luca Gori Marco Piazzi Chairman Managing Director Managing Director Managing Director Simone Badioli Chief Executive Officer Giancarlo Galeone Executive Director 4
Slide 5: Brand Personality
BRAND PERSONALITY FEMININE IRONIC CONTEMPORARY INNOVATIVE ELEGANT GLAMOROUS GLAMOUR HIGH QUALITY 5
Slide 6: Brand Value
BRAND VALUE Brand was launched in 1981. Alberta Ferretti has created a new concept of glamorous and elegant woman, which has evolved over time. Her creations are worn by major celebrities at the most important international events. BRAND CORE VALUE: • Contemporary Feminine • Elegance • Glamour Energ
Slide 7: Brand Collaborations
BRAND COLLABORATIONS She acknowledged she is “gratified” whenever she sees women wearing her clothes. “I "I share with Wolford the incessant research for a balance between the take inspiration from women and modern life, I imagine how I would like to see them, quality of materials and the know-how,
Slide 8: Brand Value
BRAND VALUE Founded in 1984 by Alberta Ferretti under the Aeffe group. Femininity, lightness, and sensuality are the stylistic traits of Philosophy. The first collection of Philosophy designed by Lorenzo Serafini debuted during Milan Fashion Week in February of 2015. “Philosophy is a positive term d
Slide 9: Brand Value
BRAND VALUE Complete range of products under the Moschino brand. Consolidated presence in fragrances (since 1985), eyewear (1995), jewerellry (2021). BRAND CORE VALUE: • Playful and colourful; • Ironic • Glamorous • Very communicative From F/W 2014 Jeremy Scott is the new creative director. “I was r
Slide 10: Brand Value
BRAND VALUE Founded in 1953, Pollini is internationally acknowledged to represent the best tradition of italian footwear and leather goods craftsmanship. BRAND CORE BUSINESS: • Footwear • Handbags. • Leather Goods BRAND CORE VALUE: • High quality, • Contemporary design • Innovation • Made in Italy I
Slide 11: Timeline
TIMELINE NOV. MOSCHINO CLOSE TO DIRECTLY MANAGE THE DISTRIBUTION IN MAINLAND CHINA OCT. MOSCHINO’S NEW STRATEGIC COURSE WITH INTEGRATED MANAGEMENT OF ALL BRAND APPAREL LICENSES EARLY TAKE OVER OF “LOVE” LICENCE SEPT. ALBERTA FERRETTI HAS DESIGNED AN EXCLUSIVE NEW LANCIA YPSILON JULY AEFFE ACQUIRES T
Slide 12: Key Figures
KEY FIGURES € 324.6 mln € 35.3 mln € 4.5 mln CONSOLIDATED +20,8% CONSOLIDATED +686,6% (ex forex) 2020 Y REVENUES EBITDA vs/2020 +20,6% (10.9% of sales) (1.7% of sales) (current ex. rate) GROUP NET € 2.6 mln € 9.5 mln € 12.1mln € 16.3 mln RESULT ADJUSTED NON RECURRING NET PROFIT 2020 Y PROFIT FISCAL
Slide 13: Financial Highlights
FINANCIAL HIGHLIGHTS NET SALES BREAKDOWN B Y BU S I N ES S BY REGION +21% ASIA & ROW 20% FOOTWEAR & EUROPE 32% LEATHER GOODS 39% 325 USA 7% PRET À PORTER 61% 269 ITALY 41% BY BRAND BY CHANNEL POLLINI 10% RETAIL 22% OTHERS 1% MOSCHINO 79% WHOLESALE ROYALTIES 4% ALBERTA FERRETTI 5% 74% PHILOSOPHY 5% 2
Slide 14: Revenues by Business
REVENUES BY BUSINESS +11,7% 220,2 197,4 PRET A PORTER 2020 2021 +30,2% 139,9 107,4 LEATHER GOODS 2020 2021 Euro millions At constant exchange rates Before inter-divisional eliminations 14
Slide 15: Revenues by Business
REVENUES BY BUSINESS 2020 2021 63,1 61,9 54,4 52,7 52,2 53,4 45,7 34,2 PRET A PORTER Q1 Q2 Q3 Q4 41,7 35,9 34,2 30,7 32,3 30,0 25,5 17,0 LEATHER GOODS Q1 Q2 Q3 Q4 Euro millions At constant exchange rates Before inter-divisional eliminations 15
Slide 16: Revenues by Region
REVENUES BY REGION +15,0% 132,1 114,9 ITALY 2020 2021 +24,5% 105,5 84,7 EUROPE 2020 2021 +21,2% 65,4 53,9 ASIA & ROW 2020 2021 +41,4% 21,6 15,5 Euro millions USA At constant exchange rates 2020 2021 16
Slide 17: Revenues by Region
REVENUES BY REGION 2020 2021 42,9 43,9 35,2 34,3 29,5 24,4 21,9 14,9 ITALY Q1 Q2 Q3 Q4 28,3 29,5 22,9 24,6 24,8 21,2 22,2 16,7 EUROPE Q1 Q2 Q3 Q4 17,8 17,8 17,1 14,4 15,2 14,4 15,3 7,3 ASIA & ROW Q1 Q2 Q3 Q4 6,0 6,3 5,1 5,2 5,0 4,3 3,8 Euro millions USA 1,4 At constant exchange rates 17 Q1 Q2 Q3 Q4
Slide 18: Revenues by Brand
REVENUES BY BRAND +16,6% 17,0 14,6 2020 2021 +17,9% 15,8 13,4 2020 2021 +20,1% 258,4 215,4 2020 2021 +39,2% 31,2 22,4 Euro millions At constant exchange rates 2020 2021 18
Slide 19: Revenues by Brand
REVENUES BY BRAND 5,4 5,7 6,3 4,3 3,1 3,3 2,2 1,3 Q1 Q2 Q3 Q4 5,1 4,9 4,3 4,3 3,7 2,9 2,3 1,7 Q1 Q2 Q3 Q4 69,1 71,6 65,4 62,9 56,2 58,5 52,1 38,0 Q1 Q2 Q3 Q4 10,4 9,6 7,9 7,0 5,9 5,3 5,4 2,1 Euro millions Q1 Q2 2020 2021 Q3 Q4 At constant exchange rates 19
Slide 20: Revenues by Channel
REVENUES BY CHANNEL +22,6% 238,8 195,1 WHOLESALE 2020 2021 +13,7% 72,2 63,5 RETAIL 2020 2021 +30,1% 13,6 10,5 ROYALTIES 2020 2021 Euro millions At constant exchange rates 20
Slide 21: Revenues by Channel
REVENUES BY CHANNEL 2020 2021 65,0 68,4 62,2 55,6 56,0 46,2 49,4 31,1 WHOLESALE Q1 Q2 Q3 Q4 23,1 22,8 21,4 17,9 15,9 13,3 12,1 9,2 RETAIL Q1 Q2 Q3 Q4 3,8 3,8 3,0 3,0 2,7 2,8 2,6 2,4 ROYALTIES Q1 Q2 Q3 Q4 Euro millions At constant exchange rates 21
Slide 22: Mono-Brand Stores Network
MONO-BRANS STORES NETWORK 2021Y vs 2020Y -2 +1 EUROPE ASIA USA FRANCHISING DOS FRANCHISING 38 -2 105 1 EUROPE DOS ASIA 42 DOS 14 22
Slide 23: Highlights
HIGHLIGHTS CONSOLIDATED REVENUES +20.8% ex forex at € 324.6 mln (+20.6% at current exchange rates) CONSOLIDATED EBITDA +686,6% at € 35.3 mln (10.9% of sales) compared to an EBITDA of € 4.5 mln (1.7% of sales) in 2020 NET RESULT Adjusted Profit for the Group at € 2.6 mln net of non-recurring fiscal e
Slide 24: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT INCOME STATEMENT 2021Y 2020Y Net Sales 324,6 269,1 % change 20,6% Other Revenues 8,5 10,5 Total Revenues 333,1 279,6 % change 19,1% Raw Materials Costs (132,0) (107,8) Service Costs (93,2) (93,2) Costs for use of third parties (5,7) (6,6) Personnel (63,1) (61,8) Other O
Slide 25: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET BALANCE SHEET 2021Y 2020Y Net Working Capital 79,8 97,3 Net Tangible Assets 58,8 61,7 Net Intangible Assets 68,9 72,5 Net Intangible Assets for Rights of use - IFRS 16 86,0 100,5 Net Financial Assets 1,6 2,7 Severance Staff, Provisions & Others (6,1) (14,9) Net Capital Emp
Slide 26: Consolidated Cash Flow
CONSOLIDATED CASH FLOW CASH FLOW 2021Y 2020Y PBT 6,3 (27,6) Operating Cash Flow 48,7 10,3 Capital Expenditure (2,2) (5,4) Capital Expenditure for Rights of use - IFRS 16 (1,7) (6,6) Free Cash Flow 44,8 (1,8) Cash Flows from Financing Activities (53,3) 13,2 Cash and cash equivalents at the beginning