DIA — H1 2014 Earnings Presentation
24 slides from DIA's earnings presentation, 2014
Slide 1: Results Q2 2014
RESULTS Qe 2014 /|IR Team / Tel: +34 91398 54 00 ext. 33890 ne investorrelations@diagroup.com DIA/Q2 2014 Results
Slide 2: Disclaimer
DISCLAIMER This document does not constitute a purchase, sales or exchange offer, nor is it an invitation to draw up a purchase sales or exchange offer, or advice on any stock issued by DIA. DIA cautions that this document contains forward-looking statements, found in various places throughout the p
Slide 3: Index
INDEX 1/ BUSINESS REVIEW 2/ FINANCIAL REVIEW 3/ Q&A DIA/Q22014 Results Page2
Slide 4: Q2 2014 Highlights
/ 112014 Highlights / Gaining market share in Spain in an adverse consumer context / 8.7% sales growth in local currency / Very strong sales momentum and market share gains in Emerging but negative FX impact / Accomplishing significant corporate milestones: France disposal, El Arbol acquisition and
Slide 5: DIA France agreement
/ DIA France agreement Dia / Agreement for the sale of DIA France for an enterprise value of EUR600m / Closing expected before year-end / EUR180m deferred tax asset booked in the H1 2014 DIA/Q2 2014 Results
Slide 6: El Arbol acquisition (I)
/ El Arbol acquisition (1) / Proximity supermarket network specialized in perishables, key categories in the Spanish market (distinctive know-how in fresh meat and fresh fish) / Complementary geographical fit in rural areas and regions where DIA is underpenetrated / Very good opportunities in privat
Slide 7: El Arbol acquisition (II)
/ El Arbol acquisition (Il ¥ wg DIA/Q2 2014 Results
Slide 8: El Arbol acquisition (III)
Slide 9: DIA Market III
/ DIA Market III Dia / DIA Market III remodellings already being put in place with satisfactory results: / Good sales results in the stores tested / Making the most of other DIA models’ know-how / More than 320 stores to be remodelled at the end of 2014 (85 stores YTD) / Average transformation capex
Slide 10: DIA Market III
Slide 11: Index
INDEX / BUSINESS REVIEW / FINANCIAL REVIEW / Q&A DIA/Q22014 Results Page10
Slide 12: Key figures H1 2014
/ Key figures H1 2014 / 8.7% sales growth in local currency / 0.7% adjusted EBITDA growth to EUR245.5m (+5.7% ex-currency) /1.9% adjusted EBIT growth to EUR156.2m (+6.4% ex-currency) /5.3% underlying net profit growth to EUR102.5m (6.6% ex-currency) Sales related to Gross Sales Under Banner DIA/Q2 2
Slide 13: Adjusted EBIT ex-currency up 6.4%
/ Adjusted EBIT ex-currency up 6.4% Dia Q2 % % page H1 % % pace 2014 change J currency 2014 change JM currency (EURm) Grosssalesunderbanner | 2,299.3 -2.7% 8.0% ||4,434.8 -24% 8.7% Adjusted EBITDA 136.2 -1.4% 3.4% 245.5 0.7% 5.7% Adjusted EBITDA margin 6.9% 11 bp 6.5% 21bp Adjusted EBIT 91.7 -0.7% 3
Slide 14: Underlying net profit ex-currency up 6.6%
/ Underlying net profit ex-currency up 6.6% Hed) % change H1 % % change Ex- Ex- (EURm) 2014 change currency 2014 change currency Adjusted EBIT 91.7 -0.7% 3.7% 156.2 1.9% 6.4% Non-recurring items (12.3) 53.5% 57.2% (19.0) 17.3% 20.3% EBIT 79.4 -5.8% -14% 137.3 0.0% 4.7% Net financial income/expenses
Slide 15: 8.7% sales growth in local currency
/ 8.7% sales growth in local currency Dia EURm +441.2 4,941.5 -506.7 4,544.7 -444 4,434.8 H1 2013 Iberia Emerging H12014* Currency H1 2014 in local currency Sales related to Gross Sales Under Banner
Slide 16: +3.1% LFL growth in H1 2014
/+3.1% LFL growth in H1 2014 48.7% EURm +254.8 -506.7 4,544.7 | 4.4348 H1 2013 LFL Expansion Currency H1 2014 in local currency Sales related to Gross Sales Under Banner
Slide 17: Iberia: H1 2014
/ |beria: H1 2014 EURm H1 2013 LFL Expansion H1 2014 / Adjusted EBIT margin up / Profitable expansion: 187 net openings (+219 franchise) / Market share gains in Spain Sales related to Gross Sales Under Banner DIA/Q2 2014 Results
Slide 18: Emerging markets: H1 2014
/ Emerging markets: H1 2014 -506.7 | 1,486.3 -32.6% H12013 LFL Expansion Currency H12014 / Sales in Brazil up 13.7% / Profit margin improvement despite strong expansion in new regions / 220 openings in local currency Sales related to Gross Sales Under Banner DIA/Q2 2014 Results
Slide 19: Pro-forma leverage down to 0.9x
/ Pro-forma leverage down to 0.9x Dia Net debt / Adjusted EBITDA 1.6x | ciciaiaiimaiiat | 1.3x ‘ H | 0.9x* | June 2013 June 2014 © @Q2 2014 pro-forma of DIA France sale and El Arbolacquisition DIA/Q2 2014 Results
Slide 20: Inaugural bond issue and new RCF
/ Inaugural bond issue and new RCF Dia / EUR500m bond issue / Extension of debt maturities and diversification of funding sources Ratings: Baa3 by Moody's and BBB- by S&P (stable outlook) \ Status: Senior Unsecured, Unsubordinated Coupon: 1.5% (Fixed Rate, Annual) Re-offer yield: 1.622% Maturity: 5
Slide 21: New financing transactions
/ New financing transactions Dia Previous Maturity Profile Banks Loans (EURm) Post-refinancing Maturity Profile (EURm) ia = il E-i 2014 2015 2016 2017 2014 2015 2016 2017 2018 2019 @ Facilities 2011 (TranchesA,B,RCF) Facilities 2013 (Tranches A, B) BRCF2011 "Bond ®RCF2014 /New EUR 500m 5-year bond i
Slide 22: Achieving our priorities
/ Achieving our priorities Dia / DIA is now a better company: / focused on its core markets / with faster growth / industry leading returns / and with higher contribution of franchise / On track to deliver the double-digit underlying EPS growth (in local currency) DIA/Q2 2014 Results
Slide 23: Index
INDEX / BUSINESS REVIEW / FINANCIAL REVIEW | Q&A DIA/Q22014 Results Page 22
Slide 24: Results Q2 2014 - IR Team
RESULTS Qe 2014 /|IR Team / Tel: +34 91398 54 00 ext. 33890 ne investorrelations@diagroup.com DIA/Q2 2014 Results