Autobacs Seven Co., Ltd. · TSE:9832
Autobacs Seven — Q3 FY March 2014 Earnings Presentation
23 slides from Autobacs Seven's earnings presentation, Jan 31, 2014
Slide 1: Results for the Nine Months ended Dec 31, 2013
【Reference】 Translation Results for the Nine Months ended Dec 31, 2013 January 31, 2014 AUTOBACS SEVEN CO., LTD.
Slide 2: Q3 FY March 2014 Consolidated P/L
Q3 FY March 2014 Consolidated P/L Net sales declined but income increased. The impact of the decline in net sales was alleviated by the improvement in the gross margin ratio and SG&A cost reduction. Sales of tires and wheels, cars, and other goods increased in the third quarter due to enhanced sales
Slide 3: Quarterly P/L (FY March 2014)
Quarterly P/L (FY March 2014) (Billion Yen) Q4（estimates – Full Year Q1(Results) Q2(Results) Q3(Results) results） (Estimates) Net Sales 52.4 51.3 74.6 50.8 229.1 YoY - 9.7% - 2.7% +3.4% +7.4% - 0.5 % Gross margin 17.0 17.6 24.0 17.9 76.5 (% of Sales) (32.5%) (34.3%) (32.2%) (35.2%) （33.4%) YoY - 3.9
Slide 4: Segments: Analysis for Operating Income
Analysis for Operating Income Domestic retail sales Total stores -2.5% / Same store sales -4.4% (YoY) Operating Income YoY Non-consolidated 11.72BY -510MY Sales: -7,290MY（-4.8％） Gross profits: -2,130MY（GPM: 21.2% - up from LY’s 21.6%） - Improved gross margin of tires and wheels - Decreased in Car El
Slide 5: Segment Information
Segment Information (Billion yen) Nine months ended Nine months ended YoY Dec 31, 2013 Dec 31, 2012 change Net Sales 145.47 152.76 -4.8 Non-consolidated Ordinary Income 11.72 12.23 -4.1 Domestic store Net Sales 60.47 59.95 +0.9 subsidiaries - Ordinary Income 0.26 -0.53 Net Sales 7.93 6.48 +22.3 Over
Slide 6: Performance Breakdown (Nine months ended Dec 31, 2013)
Performance Breakdown (Nine months ended Dec 31, 2013) Non-consolidated Net Sales -4.63 BY ↑ car sales, tires & wheels, fuel, services Wholesale -3.2% ↓ car electronics devices, motor sports goods, etc. 145.4 BY -2.66 BY ↑ on-line store, fuel, Retail YoY: -7.28BY -40.3% ↓ car electronics devices, Se
Slide 7: Retail Sales in Total AUTOBACS Group Stores
Retail Sales in Total AUTOBACS Group Stores RETAIL SALES INCLUDING FCs*: 217.5 billion yen (-2.5% YoY) (Billion Yen) 250 223.0 217.5 2.8 Second hand goods & Fuel: 3.4BY (+21.4% YoY） 3.4 11.5 12.0 200 12.0 15.1 Statutory safety inspection: 12.0BY (+3.8% YoY) Number of cars inspected： 405,000 cars (+1
Slide 8: Sales Ups & Downs by Merchandise (Nine Months)
Sales Ups & Downs by Merchandise (Nine Months) 【Same Store Basis】 Sales: -4.4 % YoY, Number of customers: -4.1% YoY Retail sales ups and downs by merchandise category (Million Yen) (for nine months ended Dec 31 2013, YoY change in amount, total store basis) 1,000 464 129 94 24 0 -2 -33 -94 -208 Whee
Slide 9: ASP Trends in Car Navigation Devices
ASP Trends in Car Navigation Devices ASP and Unit Sales Trends of Car Navigation Devices (YoY) 0.0% -1.8% -4.2% -3.6% -4.2% -5.0% -8.2% -7.3% -8.4% -9.2% -10.0% -12.9% -14.1% -13.6% -12.3% -15.0% -17.1% -13.5% -17.4% -17.4% -17.0% -16.6% -20.0% -17.9% -18.9% -18.7% -19.8% -21.4% -21.7% -25.0% Unit s
Slide 10: Sales Trend: Retail & Wholesale (Jan 2013 – Dec 2013)
Sales Trend: Retail & Wholesale (Jan 2013 – Dec 2013) （％） 【YoY change for the last 12 months】 15.0 Rebound from last year’s decrease in wholesale Sales Wholesale Increase in merchandise assortment for the 10.0 year-end shopping season 9.0 5.1 6.0 5.0 5.6 0.8 4.9 0.2 0.0 0.1 -3.5 -0.4 -3.1 -1.5 -0.5
Slide 11: Factors for Improving the Gross Margin
Factors for Improving the Gross Margin 1. Improving the gross profit mix - Sales ratio for car electronics items decreased from 20.2% to 17.1%. - Increasing in sales of tire chain in Q3 2. Improving the gross margin for tires 3. Decreasing in the gross margin for Car Electronics 4. Improving the gro
Slide 12: Results of Overseas Operation by Country
Results of Overseas Operation by Country FRANCE CHINA SINGAPORE THAILAND Number of stores at Dec 31, 2013 11 1 3 4 -including FCs stores- Total store sales -4.9% +46.9% -4.4% -12.2% -including FC stores- 4/1/2013 4/1/2012 4/1/2013 4/1/2012 4/1/2013 4/1/2012 4/1/2013 4/1/2012 Period through through t
Slide 13: Decrease in Consolidation Adjustments
Decrease in Consolidation Adjustments Consolidation Adjustments (Million Yen) Nine months ended Nine months ended Dec 31, 2013 Dec 31, 2012 Operating Income for segment total 12,646 12,261 Elimination of Intersegment transaction (Income of subsidiaries for supporting functions, (114) (323) etc.) Inv
Slide 14: Segments: Analysis for Operating Income (FY2014 Q3)
Analysis for Operating Income (FY2014 Q3) Domestic retail sales Total stores -2.9% / Same store sales -1.2% (YoY) Operating Income YoY Non-consolidated 6.3BY -0.4BY Sales: -1.13BY（+1.8％） Gross profits: -4.9BY（GPM: 21.0% - up from LY’s 22.2%） - Decreased in Car Electronics sales SG&A -0.09BY - Decrea
Slide 15: Progress of New Store Openings
Progress of New Store Openings Store name Owner of stores Opening date 1 AUTOBACS AOMORI-CHUO Store FC Oct 4, 2013 2 AUTOBACS SHIZUNAI Store FC Oct 11, 2013 3 AUTOBACS AKITA OMAGARI Store FC Oct 11, 2013 4 AUTOBACS EXPRESS IYOSAIJO Store Subsidiaries Oct 18, 2013 5 AUTOBACS Tire Shop MATSUMORI Store
Slide 16: Internet Sales Results
Internet Sales Results Net sales for the nine months ended December 31, 2013 : 940 million yen (up 78.6% year on year) Delivery directly to customers: 400 million yen Store sales: 540 million yen ・Main merchandise - Car Electronics: about 50% of total - Tires and Wheels: about 20% of total ・By chann
Slide 17: Store Openings and Closings (Plan)
Store Openings and Closings (Plan) < Domestic stores > Fiscal year ending March 31, 2013 No. of No. of No. of stores as Q1 ~ Q3 (result) stores as Q4 (Plan) stores as of March of Dec 31, of March 31, 2013 New S/B・R/L Close 2013 New S/B・R/L Close 31, 2013 AUTOBACS 455 +19 +5/-4 -1 474 +4 478 Super AU
Slide 18: Balance Sheet / Assets
Balance Sheet / Assets 224.7BY 205.5BY 199.4BY 191.0BY 224.0BY (Billion Yen) Cash and deposits 425 451 482 Trade notes 492 and account 455 receivables 386 375 Lease investment 247 assets 128 259 208 115 Marketable securities 25 124 8 Inventories 208 10 121 118 204 166 0 5 163 167 Other current asset
Slide 19: Balance Sheet / Liabilities & Net Assets
Balance Sheet / Liabilities & Net Assets (Billion Yen) 224.7BY 205.5BY 199.4BY 191.0BY 224.0BY Trade notes & accounts payable 396 404 ST borrowings and 216 corporate bond 230 42 22 145 40 Other ST liabilities 23 28 235 212 218 Bonds and LT debts 160 151 54 61 61 53 31 Other LT liabilities 111 111 10
Slide 20: Initiatives for the Fourth Quarter (Before the Consumption Tax Increase)
Initiatives for the Fourth Quarter(Before the Consumption Tax Increase) The number of new car sales in Japan has been increasing year on year from September, the Company expects increase in demand for car goods including car electronics devices Strengthen merchandises for automobile purchasers (su
Slide 21: Financial Strategies – Shareholder return policy
Financial Strategies – Shareholder return policy （Yen） 180 162 160 156 145 140 135 125 120 81 75 Conversion before 100 70 65 stock split 80 60 54 40 75 27 60 65 70 20 27 0 FY March 2010 FY March 2011 FY March 2012 FY March 2013 FY March 2014 (Estimates) Annual Interim 27
Slide 22: Transfer of Store Ownership (March 1, 2014)
Transfer of Store Ownership （March 1, 2014） The company will transfer store ownership of its consolidated subsidiary, AUTOBACS Yamato Ltd. to franchise company(non-consolidated). Purpose of transfer - Optimized to store ownership in the Nara - Strengthen area competitiveness and management efficienc
Slide 23: Forward-Looking Statements
Forward-Looking Statements These materials include forecasts regarding the Company’s future plans, strategies, and performance. This information is based on judgments and estimates made in accordance with information currently available. Actual results may differ materially from forecasts due to suc
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