Fj Benjamin Holdings Ltd. · SGX:F10
Fj Benjamin — FY2011 Earnings Presentation
20 slides from Fj Benjamin's earnings presentation, Aug 22, 2011
Slide 1: Enlarged retail footprint fuels 32% growth in turnover
Enlarged retail footprint fuels 32% growth in turnover NASH BENJAMIN Chief Executive Officer F J Benjamin Holdings Ltd INVESTOR PRESENTATION – FULL YEAR 2011 22 August 2011
Slide 2: Highlights
Highlights 1.ASD Strong Consumer Demand Drives Growth in Turnover in Major Key Markets • Group turnover up 22% to $353.9m from $289.4m • Major increases in all major markets • Operating profit up 3.6 times to $18.3 million from $5.1 million • Margins up to 43% from 41% 2. 55% gain in net profit afte
Slide 3: 1. Strong Growth in Turnover
ASD 1. Strong Growth in Turnover 3
Slide 4: Turnover
Turnover Turnover & Gross Margin Strong Consumer Demand Drives Growth in Turnover in Major Key Markets S$ ‘000 •Group turnover up 22% to $353.9m from $289.4m 43.0% 40.8% 40.6% 41.0% •Margins up to 43% from 41% with improved quality of 40.0% full price business •South-east Asia (excluding Indo) grew
Slide 5: Turnover By Business Segment
Turnover ($’000) FY 2010 FY 2011 968 814 0% 0% 91,507 123,351 32% 35% 197,034 68% 229,599 65% Fashions Timepieces Licensing By Business Segment 5
Slide 6: Turnover By Geography
Turnover ($’000) FY 2010 FY 2011 3,719 1,408 40,697 68,636 1% 1% 14% 19% 244,939 283,874 85% 80% Southeast Asia North Asia Others By Geography 6
Slide 7: 2. Strong Bottomline Growth
ASD 2. Strong Bottomline Growth 7
Slide 8: Net Profit
Net Profit Net Profit After Tax S$ ‘000 2. Net profit surges 55% to $12.8m from $8.3m 21,468 • Operating profit up 3.6 times to $18.3m from $5.1m showing a much improved quality of business • Excluding exchange gain and losses, profit after 14,804 tax increased 3.4 times to $13.0m from $3.8m 12,770
Slide 9: Financial Highlights
Financial Highlights S$'000 FY 11 FY 10 Variance % Turnover 353,918 289,355 64,563 22 Gross margin 43% 41% Operating expenses 139,104 120,170 18,934 16 Operating profit 18,293 5,076 13,217 nm Foreign exchange (loss) / gain (252) 4,423 (4,675) nm Net Profit After Tax 12,770 8,260 4,510 55 9
Slide 10: Retail Footprint
Retail Footprint TOTAL SQUARE FOOTAGE1 NUMBER OF STORES1 200 Sq Ft '000 150 388 100 50 348 0 348 FY 2009 FY 2010 FY 2011 FY 2012 FY 2009 FY 2010 FY 2011 FY 2012 Taiwan 1 1 0 0 Singapore 30 32 32 32 2010 2011 Malaysia 68 63 55 67 2012 Indonesia 62 64 75 87 Hong Kong 0 0 3 3 Australia 5 6 1 1 Thailand
Slide 11: Capital Expenditure
Capital Expenditure CAPEX S$ ‘000 Capex projected to increase for 2012 • Improvement and refurbishment to stores to increase productivity and appeal 16,526 • New stores to open in Indonesia and Malaysia in key new malls 12,626 • Opening of sourcing base in Shenzhen to improve supply chain efficiency
Slide 12: 3. Increased Efficiency
ASD 3. Increased Efficiency 12
Slide 13: Expenses
Expenses 3. Cost-to-revenue ratio improves to 39% from 42% • Operating expenses increase 16% to $139.1m • Main increase from Advertising and Promotion to launch new brands and drive sales during key festive periods • Also expansion of marketing team with creation of digital marketing unit to increas
Slide 14: 4. Strong Balance Sheet
ASD 4. Strong Balance Sheet 14
Slide 15: Fundamentals
Fundamentals Dividend Per Share Earnings Per Share cents cents 3.5 5.69 2 2 2 2.61 2.28 1.45 0.5 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 -0.47 15
Slide 16: Fundamentals
Fundamentals Net Debt/Equity LOW NET GEARING (x) • Net gearing low at 6% NET CASH GENERATED 0.22 • Net cash generated from operating activities 0.15 remained positive at $7.0 million 0.06 0 0 ASD 2007 2008 2009 2010 2011
Slide 17: Outlook
@ 5) BENJAMIN Outlook 17
Slide 18: Outlook
Outlook Growth opportunities • Plans to grow the organic business in various territories with caution • Sentiment continues to hold firm but uncertainty could soften sentiment • Continue expansion of brand portfolio • Introduction of Goyard to Singapore after success of Hong Kong Increased productiv
Slide 19: Outlook
Outlook RAOUL expansion • Orders from key retailers in the US and Europe including Selfridges, Fenwick, Joseph, Matches, Flannels, Saks Direct, Neiman Marcus • Good press and editorial coverage giving rise to brand demand • Opening showroom in Milan to expand European presence 19
Slide 20: For more information please contact
For more information “i rAEXIT | please contact Gatherine Ong Chief Executive Officer. @ 6) BENJAMIN Benjamin.com www.fibenjamin.com