Jb Hi-fi Limited · ASX:JBH
Jb Hi-fi — H1 FY2007 Earnings Presentation
12 slides from Jb Hi-fi's earnings presentation, Feb 13, 2007
Slide 1: Half Year Results Presentation — December 2006
all = 5 -HL-FI JB Hi-Fi Limited Half Year Results Presentation — December 2006 13 February 2007
Slide 2: Agenda
we AGENDA 1. Performance 2. Trading Update 3. Financial Detail 4. New Stores 5. Investment Scorecard Richard Uechtritz Richard Murray CEO CFO
Slide 3: 1. Performance
JB -HEFI 1. PERFORMANCE Strong performance for 6 months to 31 December 2006: Growth against PCP Q Sales $658.9m 29.2% Q Comparable store sales growth 5.8% (JB Hi-Fi Stores: 7.7%, CA Stores: -7.8%) Q NPAT $26.2m 39.1% Q) Earnings per share 25.3 cps 38.1% Q Return on invested capital 34.5% +5.1%¢ Q Di
Slide 4: 2. Trading Update: Trading Performance
wJB : 2. TRADING UPDATE Trading Performance + + ° 1*t half comparative store growth was 7.7% for JB Hi-Fi stores and -7.8% for CA stores (5.8% consolidated). Solid Christmas sales. Most categories were solid over Christmas with DVD, games and portable audio very strong. JB Hi-Fi has cemented itself
Slide 5: 2. Trading Update: New Stores
wJB : 2. TRADING UPDATE New Stores . Opened 7 new JB Hi-Fi stores in first half which are all trading well. . Planning to open 6 new JB Hi-Fi stores in 2nd half. . Canberra City expanded to full JB Hi-Fi offering. Industry . Competitive climate continues to drive industry rationalisation (eg. Retrav
Slide 6: 3. Financial Detail: Profit and Loss Statement
JB -HEFI 3. FINANCIAL DETAIL Profit and Loss Statement: $m | 1H 07 | Sales 658.9 Comparative Store Sales Growth 5.8% Gross Profit 145.9 Gross Margin * 22.1% EBITDA 46.4 Depreciation & Amortisation 5.1 EBIT 41.3 EBIT Margin 6.3% Net Profit After Tax (net of OEl) 26.2 Headline Statistics: Earnings per
Slide 7: Balance Sheet
Balance Sheet: $m Cash Receivables Inventories Other Current Assets Total Current Assets Fixed Assets Brandname & Goodwill Other Non-Current Total Non-Current Assets Total Assets Payables Borrowings Other Total Current Liabilities Borrowings Other Non-Current Liabilities Total Non-Current Liabilitie
Slide 8: Cashflow Statement
Cashflow Statement: $m EBITDA Change in Working Capital Net Interest Paid Income Tax Paid Net Cashflow from Operations Purchases of F,F & E Other Net Cashflow from Investing Net Borrowings Proceeds from issue of equity Dividends Paid Net Cashflow from Financing Net Change in Cash Position Cash at th
Slide 9: Continued proactive management of working capital position
JB Continued proactive management of working capital position: $m (Increase)/Decrease in current assets Inventory (27.5) (57.9) Receivables (27.1) (24.1) Other Current Assets (0.4) 0.6 Increase/(Decrease) in current liabilities Trade creditors 116.3 120.6 Other current liabilities 4.2 1.2 Net Moveme
Slide 10: Performance Indicators
JB Performance Indicators: JB Hi-Fi’s balance sheet remains strong, and the group is well positioned for continued growth. Stock Turnover 5.8 6.0 Creditors Days 64.7 64.5 Fixed Charge Ratio 3.7 3.7 interest Cover (times) 10.9 10.2 Return on Equity 25.5% 25.3% Return on Invested Capital 34.5% 29.4% 1
Slide 11: 4. New Stores
we 4. NEW STORES 7 JB Hi-Fi stores were opened during the 1° half of FY07: * NSW: Wollongong + BRISBANE: Carindale, Chermside + MELBOURNE: Broadmeadows, Essendon + ADELAIDE: Elizabeth Hi+6 =78 * PERTH: Myaree 6 JB Hi-Fi stores are proposed to open during the 2" half of FY07 10° Acquired 2001(A) 2002
Slide 12: 5. Investment Scorecard
wJB : 5. INVESTMENT SCORECARD Strong growth, profitability & sustainable competitive advantage: Growth factors: * Continued focused exposure to growth home entertainment product market + Recently opened stores continue to mature strongly + JB Hi-Fi new store roll-out continues, with plenty of site o