Jb Hi-fi Limited · ASX:JBH
Jb Hi-fi — FY2006 Earnings Presentation
13 slides from Jb Hi-fi's earnings presentation, Aug 16, 2006
Slide 1: JB Hi-Fi Limited Full Year Results Presentation — June 2006
all = 5 -HL-FI JB Hi-Fi Limited Full Year Results Presentation — June 2006 16 August 2006
Slide 2: Agenda
JB -HEFI AGENDA 1. Performance 2. Historical Performance 3. Trading Update 4. Financial Detail 5. New Stores 6. Investment Scorecard Richard Uechtritz Richard Murray CEO CFO
Slide 3: 1. Performance
JB -HEFI 1. PERFORMANCE Strong performance for 12 months to 30 June 2006 Growth against previous corresponding period: * Sales $945.8m * 36.3% * Comparable store sales growth 5.3%* * 60bp + EBIT $44.5m * 28.5% * NPAT $25.8m * 32.5% Final fully franked dividend of 4 cents per share declared, to be pa
Slide 4: 2. Historical Performance
JB -HEFI 2. HISTORICAL PERFORMANCE Strong growth in sales & earnings since MBI in July 2000 258m 246m 453m + 36% + 33% + 29% 94m 36.2m 195m 13.8m 452m 6.2m 155m = 5.7m 26m c a T T a c T T T T T T T T 2001 2002 2003 2004 2005 2006 2001 2002 2003 2004 2005 2006 2001 2002 2003 2004 2005 2006 Sales EBIT
Slide 5: 3. Trading Update
JB -HEFI 3. TRADING UPDATE Sales Product Mix FY06 Total Stores: 66 (JB 60, CA 6) Domestic Appliances & Computers (JB & CA stores) 10% Music, Movies & Games (JB stores} 34% : 15 SE Qld (JB 9, CA6) 4 Adelaide 4 Newcastle 3 Canberra 72 Central Coast ‘ 15 Sydney hem dy 21 Melboume Consumer Electronics w
Slide 6: Trading Overview
wJB : Trading Overview FYO06 was a challenging year for all retailers, thus it is a pleasing result. Expect FY07 to be even more challenging with high petrol prices, interest rate rises and pending rises slowing retail spend. Whilst discounting has been a feature of the overall market during the las
Slide 7: 4. Financial Detail
JB 4. FINANCIAL DETAIL Profit and Loss Statement $m Sales Comparative Store Sales Gross Profit Gross Margin EBITDA Depreciation & Amortisation EBIT EBIT Margin Net Profit After Tax (net of OEI) Headline Statistics: Earnings per share (cents) Stores at period end Cost of doing business FY0G Fyos Cons
Slide 8: Cashflow Statement
we Cashflow Statement FYO6 FY05 $m Consolidated | Consolidated EBITDA 52.0 39.7 Change in Working Capital (17.9) (29.7) Interest Paid (5.7) (6.1) Income Tax Paid (11.3) (9.1) Other (1.4) 0.9 Net Cashflow from Operations 15.6 (3.4) Purchases of F,F &E (28.8) (15.8) Payments for Intangibles & Investme
Slide 9: Working Capital
JB Working Capital FYo6 EY05 $m Consolidated § Consolidated (Increase)/Decrease in current assets Inventory (59.0) (22.2) Receivables (8.4) (5.3) Other Current Assets (0.2) (0.3) Increase/(Decrease) in current liabilities Trade creditors 44.9 (2.9) Other current liabilities 48 0.9 Net Movement in Wo
Slide 10: Balance Sheet
JB Balance Sheet Fyo6 FYO5 $m Consolidated | Consolidated | Movement Cash 45 1.6 29 Receivables 28.3 19.9 8.4 Inventories 161.1 102.2 59.0 Other 2.8 2.6 0.2 Total Current Assets 196.8 126.3 70.5 Fixed Assets 57.2 35.9 21.3 Brandname & Goodwill 66.7 66.7 - Other 62 2.8 3.5 Total Non-Current 130.1 105
Slide 11: Performance Indicators
JB Performance Indicators JB Hi-Fi’s balance sheet remains strong, and the group is well positioned for growth as evidenced by the following key ratios: FYOG6 FyY0S $m Consolidated I Consolidated Stock Turnover 5.57 5.90 Creditors Days 50.0 54.3 Fixed Charge Ratio 2.76 2.82 Interest Cover (times) 6.
Slide 12: 5. New Stores
JB -HEFI 5. NEW STORES 18 JB stores opened in FY06: +» NSW: Tuggerah, Miranda, Chatswood, Castle Hill, Warringah Mall, Macarthur Square, Penrith, Hornsby, Mt Druitt, Liverpool + VIC: Southland, Epping, Maribyrnong, Geelong + QLD: Robina, Loganholme * SA: Colonnades + NT: Casuarina Approx. 13 new JB
Slide 13: 6. Investment Scorecard
JB -HEFI 6. 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 new store roll-out continues, with plenty of site oppor