Slide 1: 1Q18 Financial Results
1Q18 FINANCIAL RESULTS June 20, 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: 1Q18 Highlights
2 1Q18 Highlights Sales grew by 2% excluding the sell-in to Sempione Fashion Group, despite a significant market contraction that affected the European and the domestic markets (a cumulative -5.1% during the February-April period). +2.0% Increase in Net Sales The network expanded by 54 stores, of wh
Slide 4: Key Income Statement Items
3 Key Income Statement Items Continuing to outperform the market also in Q1 30.04.2018 30.04.2017 Chg. Chg. % € mln 30.04.2018 30.04.2017 Adjusted Adjusted (Adjusted) (Adjusted) Net Sales 353.0 353.0 319.3 319.3 33.7 10.6% Net Sales* 320.5 320.5 314.1 314.1 6.3 2.0% EBITDA (24.5) 30.1 28.6 29.3 0.8
Slide 5: Performance By Brand Aggregate Performance
4 Aggregate Sales and EBITDA Performance in 1Q18 Net Sales (€mln) EBITDA (€mln) 9.3% 9.4% Aggregate Performance 319 353 Performance By Brand 9.4% 9.4% 9.0% 9.5% (*) EBITDA margin calculated excluding the sell-in to Sempione Fashion AG Margin % (*)
Slide 6: 30Apr18 Consolidated Trade Working Capital
5 30Apr18 Consolidated Trade Working Capital Change Change €mln 30Apr18 30Apr17 Apr18-Jan18 Apr17-Jan17 Trade Receivables 111.3 106.9 (1.7) 31.6 Inventory 382.1 332.0 (5.8) (8.6) Trade Payables (358.2) (329.2) 45.2 38.5 Trade Working Capital 135.2 109.7 37.7 61.5 The trade working capital structure,
Slide 7: Capex
6 Capex 1Q2018 Capex breakdown (€ mln) New openings (c. 32% of total) OVS Full Refurbishments–new project (c. 24% of total) General Refurbishments & maintenance (including perfumery project) (c. 24% of total) IT and Digital Transformation (c. 24% of total) Building HQ and corporate sustainability (c
Slide 8: Net Debt and Leverage
7 Net Debt and Leverage € mln 30 April 2018 30 April 2017 Net Debt excluding MtM 423.5 342.6 EBITDA LTM Adjusted 197.3 189.6 Leverage on EBITDA (*) 2.1x 1.8x Average Leverage on EBITDA (**) 1.8x 1.8x Notes: (*) calculated on Net Debt at 30th April excluding the MtM (**) calculated on the average las
Slide 9: Consolidated Cash Flow Statement
8 Consolidated Cash Flow Statement €mln 1Q16 1Q17 1Q18 EBITDA Adjusted 26.3 29.3 30.1 1 Adjustments (1.0) (0.7) (54.6) EBITDA 25.3 28.6 (24.5) Change in Net Operating Working Capital (64.8) (61.5) (37.7) Change in other Assets (liabilities) (9.8) (7.6) (14.9) Capex (11.1) (15.6) (18.6) Operating Cas
Slide 10: Outlook
9 Outlook • After a tough start to 2018, from mid April the market recovered thanks to better weather conditions. The recovery continued until mid May, when the weather started to be characterized by volatile temperatures, with rainy and sunny days. • Since the beginning of the year, the network exp
Slide 11: Appendix
OVS Appendix
Slide 12: Consolidated Profit and Loss and related adjustments
11 Consolidated Profit and Loss and related adjustments o/w: o/w: non recurring; non recurring; Adjustments, Adjustments, o/w: Stock Option; 30.04.2018 o/w: Stock Option; 30.04.2017 Chg. Chg. % € mln 30.04.2018 non recurring Derivatives; PPA; Normalization 30.04.2017 non recurring Derivatives; PPA;