Smcp Sa · EURONEXT:SMCP
Smcp Sa — FY2018 Earnings Presentation
19 slides from Smcp Sa's earnings presentation, Jan 28, 2019
Slide 1: 2018 FY sales
2018 FY sales January 28th, 2019 Daniel Lalonde, CEO Philippe Gautier, CFO & Operations Director
Slide 2: Disclaimer
Disclaimer Certain information contained in this document may include projections and forecasts. These projections and forecasts are based on SMCP management's current views and assumptions. Such statements are not guarantees of future performance of the Group. Actual results or performances may dif
Slide 3: Daniel Lalonde, CEO
Daniel Lalonde, CEO
Slide 4: FY2018: strong double digit sales growth, in line with upgraded guidance
FY2018: strong double digit sales growth, in line with upgraded guidance FY 2018 Q4 2018 SALES GROWTH at cc. SALES GROWTH at cc. +13.0% +8.1% Sales: €1,017.1m Sales: €276.1m +11.5% on a reported basis +7.9% on a reported basis LIKE-FOR-LIKE POINT OF SALES +134 LTM POS +3.7% # POS: 1,466 / Strong r
Slide 5: FY18 - Delivering on growth levers: ready to wear, accessories and men
FY18 - Delivering on growth levers: ready to wear, accessories and men FY Sales*: +16.8% Expand Accessories Build on the Core Capsule Claudie Pierlot: Capsule Maje: Queen Letizia of Spain wearing Flame sneakers Pepita bag Mini M bag Stranger Nights From day to evening Sandro’s dress FY Sales*: +13.5
Slide 6: FY18 - Delivering on growth levers: significant acceleration in digital
FY 18 - Delivering on growth levers: significant acceleration in digital 99 POS 149 110 75 42 Digital sales (€m) 12 18 2013 2014 2015 2016 2017 2018 Digital as % of Group net sales 2.8% 3.4% 6.2% 9.6% 12.1% 14.7% Wechat Pay Click and collect E-reservation Store to web Alipay 6
Slide 7: FY18 - Dynamic year of openings: +134 POS
FY 18 - Dynamic year of openings: + 134 POS 2018 net openings: France: +7 EMEA: +49 Americas: +19 APAC: +59 Total: +134 POS o/w +12 Digital POS Claudie Pierlot China World - Beijing Maje Flagship – Regent Street 40 countries 1,466 POS Sandro The Galleria - Houston Sandro Artz Pedregal – Mexico City
Slide 8: Philippe Gautier, CFO & Operations Director
Philippe Gautier, CFO & Operations Director
Slide 9: Q4 18 - strong resilience despite unprecedented short term headwinds
Q4 18 - strong resilience despite unprecedented short term headwinds AMERICAS FRANCE EMEA APAC Q4 18: +25.7% cc. -1.9% cc. +7.2% cc. +18.2% cc. 174 POS 482 POS 480 POS 330 POS Q4 18 sales breakdown 15% 12% 36% Q4 Sales : +8.1% cc. 19% By region By brand 50% 38% FY Sales : +13.0% cc. 30% France EMEA
Slide 10: Q4 18 - Regional Dynamics
Q4 18 - Regional Dynamics France Resilience in a tough market -1.9% cc. / Sales impacted by the yellow vests; partially offset by digital / Warm temperatures delayed the start of the F/W collection / LTM DOS: + 7; continued investment in network quality EMEA Performance impacted by unfavorable weath
Slide 11: Q4 18 - Regional Dynamics
Q4 18 - Regional Dynamics Americas Strong momentum over the quarter +25.7% cc. / Strong momentum in North America, above expectations / E-commerce : very successful execution / Strong performance of Bloomingdale renovated corners / LTM DOS: + 13; very positive results of recent openings APAC Strong
Slide 12: Q4 18 - Brand dynamics
Q4 18 – Brand dynamics + 37 DOS LTM + 42 DOS LTM + 22 DOS LTM / Sales growth at + 6.1% cc. on top of high comps / Sales growth at + 10.9% cc. boosted by powerful / Sales growth at + 7.9% cc.: solid performance despite / Higher exposure to unfav. weather condition brand initiatives on 20th anniversar
Slide 13: Conclusion
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Slide 14: 2018 guidance confirmed
2018 guidance confirmed Adj.1 Ebitda Margin confirmed Around 17% (1) Excluding LTIP impact 14
Slide 15: Appendix
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Slide 16: Quarterly net sales by brand and region
Quarterly net sales by brand and region In €m Q1-17 Q1-18 % % at cc. Q2-18 % % at cc. Q3-17 Q3-18 % % at cc. Q4-18 % % at cc. FY-18 % % at cc. France 99.1 99.8 +0.7% +0.7% 87.1 -0.7% -0.7% 89.7 89.6 -0.1% -0.1% 98.3 -1.9% -1.9% 374.9 -0.5% -0.5% EMEA 64.5 71.9 +11.5% +13.3% 73.5 +13.3% +15.1% 68.6 7
Slide 17: Breakdown of POS
Breakdown of POS Directly operated stores Var. Var. Number of DOS 2017 Q1-18 H1-18 9M-18 2018 FY 18 vs FY 18 vs 9M 18 FY 17 By region France 475 479 487 482 482 - +7 EMEA 327 324 341 348 364 +16 +37 Americas 135 133 135 140 148 +8 +13 APAC 133 133 - 145 - 158 - 178 - +20 +45 By brand Sandro 466 464
Slide 18: Shareholding structure as of January 24th, 2018
Shareholding structure as of January 24th, 2018 Ruyi & Co-Investors 53.7% Free float (51.3%) (1) 39.9% (38.5%) (1) Founders & Managers 6.4% (10.3%) (1) As of January 24th, 2019 the share capital of the Company is composed of 74,747,307 shares (including 1,197,239 Free Preferred Shares) Assuming conv
Slide 19: Definitions of non-IFRS financial measures
Definitions of non-IFRS financial measures / “Net sales” consists of total sales (retail and wholesale sales) net of rebates, discounts, VAT and other sales taxes, but before the deduction of concession fees paid to department stores and commissions paid to affiliates. / “Sales growth at constant cu