Future Lifestyle Fashions Ltd. · NSE:FLFL
Future Lifestyle Fashions — Q2 FY21 Earnings Presentation
23 slides from Future Lifestyle Fashions's earnings presentation, Nov 9, 2020
Slide 1: Exchange cover letter: Presentation to Analysts/Investors
FLF )r FUTURE LIFE ST YLE FASH I ONS Ref: FLFL/BM-Q2/ 2020-21 09 November 2020 To To Dept. of Corporate Services (CRD) Listing Department BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra - Kurla Complex, Bandra (East), Mumbai -
Slide 2: FLF Investor Update – Q2 FY21
Future Lifestyle Fashions FLF Investor Update – Q2 FY21 November 2020
Slide 3: Disclaimer
Disclaimer This report contains forward-looking statements, which may be identified by their use of words like ‘plans’, ‘expects’, ‘will’, ‘anticipates’, ‘believes’, ‘intends’, ‘projects’, ‘estimates’, or other words of similar meaning. All statements that address expectations or projections about t
Slide 4: Agenda
Agenda 1. Economic revival 03 1. COVID update – Unlocking of economy 2. Festive period performance 3. Operating parameters Q2 4. Customer walk-in – State-wise analysis 5. Cost reduction update 6. Latest events and campaigns 2. Q2 and H1 FY21 Financial performance 14 FLFL | Board Presentation 3
Slide 5: Agenda
Agenda 1. Economic revival 03 1. COVID update – Unlocking of economy 2. Festive period performance 3. Operating parameters Q2 4. Customer walk-in – State-wise analysis 5. Cost reduction update 6. Latest events and campaigns 2. Q2 and H1 FY21 Financial performance 14 FLFL | Board Presentation 4
Slide 6: COVID19 impact – Unlocking of economy
COVID19 impact – Unlocking of economy Indian economy may not see V-shaped recovery: Kevin Sneader, Global Managing Partner, McKinsey & Co Daily new cases ➢ India’s Covid-19 recovery rate reaches landmark 90% 92,576 ➢ Unlock 5.0, 1st Oct: Cinema halls finally allowed with 50% seating 60,198 capacity
Slide 7: FLF's performance during festive period
FLF’s performance during festive period FLFL – Performance over LY (Festive) Festive sales % of LY Lee Cooper Footwear 80% - 85% FLFL - Blr Brands 80% - 85% Lee Cooper - Apps 70% - 80% aLL 65% - 75% Central 55% - 65% Brand Factory 55% - 60% FLF | Investor Update All nos are in Rs. cr. unless otherwi
Slide 8: FLF Q2 operating parameters
FLF Q2 operating parameters Store ramp-up status Store operations inching towards 2 1 optimum level ~~100% of Central and BF stores are operational by 31 st October CT BF 100 103 Days 91 79 Operational 80% 82% 64 46 43 45 27 33 26 Hours 5 Operational 72% 75% April May June July August September Octo
Slide 9: Store network
Store network Company store network Store count Sept 19 Sept 20 48 47 100 104 EBOs 201 187 Total 349 338 Area (mn Sqft) 7.3 7.7 Note:- Includes numbers of Lee Cooper business Stores. Map is not to scale FLF | Investor Update All nos are in Rs. cr. unless otherwise mentioned 8
Slide 10: State analysis – customer walk-ins
State analysis – customer walk-ins M-o-M growth of walkins (Sept ’20 over Aug ’20) NA >(50%) >(20%) >(10%) >0% >10% >20% >100% Map is not to scale FLF | Investor Update Stores that were operational in August and September have only been considered for analysis All nos are in Rs. cr. unless otherwise
Slide 11: Cost reduction update – H1
Cost reduction update – H1 ➢ A&M was appointed to drive the cost reduction to bring the efficiency ➢ Total cost reduction planned for the year is Rs. 611 cr. ➢ Cost reduction achieved during first half is Rs. 429 cr. Building blocks of cost reduction in H1 FY21 3 68 51 54 429 165 89 Employee Benefit
Slide 12: Latest Events at Central & Brands
Latest Events at Central & Brands MyGlamm Series Central Live Fitness Sessions on Central Hosted live Instagram session Steps towards online presence Weekends with Sportswear featuring Back To Office Look Brands Central Goes Live on Launch of Central’s Amazon.in E-comm platform 27th July 2020 (12th
Slide 13: Campaigns and Promotions at Brand Factory
Campaigns and Promotions at Brand Factory Independence Sale ➢ Campaign: During Lockdown Indian Discount League 2.0 and most people working from home, Independence Day was the best opportunity for people ➢ Campaign: With a huge success to get out their homes and with this IP last year, we decided exp
Slide 14: Campaigns and Promotions at Lee Cooper and aLL
Campaigns and Promotions at Lee Cooper and aLL Lee Cooper aLL Studio Brands - Always On’ Approach Communication with Loyal Customers an edutainment platform to In order to maintain relevancy, stickiness with brand and further engage and showcase our branded content increase awareness, Converse brand
Slide 15: Agenda
Agenda 1. Economic revival 03 1. COVID update – Unlocking of economy 2. Festive period performance 3. Operating parameters Q2 4. Customer walk-in – State-wise analysis 5. Cost reduction update 6. Latest events and campaigns 2. Q2 and H1 FY21 Financial performance 14 FLFL | Board Presentation 14
Slide 16: FLF Snapshot – Q2 FY21 (Consolidated)
FLF Snapshot – Q2 FY21 (Consolidated) Total Income From Gross Margin Expense EBITDA Margin Gross Space Addition PAT Operations (mn. sq. ft.) H1 FY21 ₹500 Cr ₹142 Cr ₹429 Cr (53%) ₹(525) cr nil H1 FY20 ₹3,119 Cr ₹1,119 Cr ₹858 Cr 9% ₹51 cr 0.13 FLF Brands Q2 FY21 Margins Contributed ~42% of Revenue
Slide 17: Financial Performance Q2 FY21 – with Ind AS
Financial Performance Q2 FY21 – with Ind AS With IND-AS 116 Income Statement (` Cr) Standalone Consolidated Gr% Gr% Particulars Q2'20 Q2'21 Q2'20 Q2'21 Revenue from Operations 1,458 388 -73% 1,572 409 -74% COGS 950 272 -71% 1,032 286 -72% Gross Profit 508 115 -77% 540 123 -77% Gross Margin % 34.8% 2
Slide 18: Financial Performance Q2 FY21 – without Ind AS 116
Financial Performance Q2 FY21 - without Ind AS 116 Without IND-AS 116 Income Statement (` Cr) Standalone Consolidated Gr% Gr% Particulars Q2'20 Q2'21 Q2'20 Q2'21 Revenue from Operations 1,461 390 -73% 1,575 411 -74% COGS 950 272 -71% 1,032 286 -72% Gross Profit 511 117 -77% 544 125 -77% Gross Margin
Slide 19: Financial Performance H1 FY21 – with Ind AS
Financial Performance H1 FY21 – with Ind AS With IND-AS 116 Income Statement (` Cr) Standalone Consolidated Gr% Gr% Particulars H1FY20 H1FY21 H1FY20 H1FY21 Revenue from Operations 2,954 468 -84% 3,112 495 -84% COGS 1,900 334 -82% 2,000 358 -82% Gross Profit 1,054 133 -87% 1,112 137 -88% Gross Margin
Slide 20: Financial Performance H1 FY21 – without Ind AS
Financial Performance H1 FY21 – without Ind AS Without IND-AS 116 Income Statement (` Cr) Standalone Consolidated Gr% Gr% Particulars H1FY20 H1FY21 H1FY20 H1FY21 Revenue from Operations 2,961 473 -84% 3,119 500 -84% COGS 1,900 334 -82% 2,000 358 -82% Gross Profit 1,061 138 -87% 1,119 142 -87% Gross
Slide 21: Capital employed statement (Consolidated without Ind AS 116)
Capital employed statement (Consolidated without Ind AS 116) Capital Employed Statement Mar-20 Sept-20 Rs. in Cr Shareholder's Funds 1,831 1,363 Debt 1,383 1,623 Less: Cash and cash equivalent 23 39 Net Debt 1,359 1,583 Less: Current Investment 39 40 Net Adj Capital Employed 3,151 2,907 Net Non Curr
Slide 22: Cash flow statement (Consolidated without Ind AS 116)
Cash flow statement (Consolidated without Ind AS 116) Cash Flow Mar-20 Sep-20 Rs in Cr Profit after tax (64) (525) Adjustments of Other Operational and Non-Cash Items 563 275 Change in Working Capital (286) 124 Cash flow from Operational Activities 212 (125) Income Tax Paid (32) (3) Net cash flow fr
Slide 23: Namaste !
Namaste ! Registered and Corporate Office: Knowledge House, Shyam Nagar, Off JVLR, Jogeshwari (East), Mumbai 400 060 +91 22 30842336 | investorrelations@futurelifestyle.in www.futurelifestyle.in
Future Lifestyle Fashions — Q2 FY21 Earnings Presentation on 6ix