Smcp Sa · EURONEXT:SMCP
Smcp Sa — Q2 2018 Earnings Presentation
20 slides from Smcp Sa's earnings presentation, Jul 31, 2018
Slide 1: Q2 2018 Sales
Q2 2018 SALES July 31th, 2018 Daniel Lalonde, CEO Philippe Gautier, CFO & Operations Director
Slide 2: Disclaimer
DISCLAIMER Certain information contained in this document may include projections and forecasts. These projections and forecasts are based on SMCP management's current views and assumptions. Such statements are not guarantees of future performance of the Group. Actual results or performances may dif
Slide 3: Daniel Lalonde, CEO
#1 Daniel Lalonde, CEO
Slide 4: Another quarter of very strong growth
ANOTHER QUARTER OF VERY STRONG GROWTH Q2 2018 H1 2018 SALES GROWTH at cc. SALES GROWTH at cc. +15.2% +15.5% POINT OF SALES LIKE-FOR-LIKE 1,381 +5.8% o/w 1,108 DOS / Another strong quarter, in line with Q1 18 / Strong execution of our strategic levers / Important quarter of openings across the world:
Slide 5: Meaningful store openings in Q2 18: +47 POS (o/w +39 DOS)
MEANINGFUL STORE OPENINGS IN Q2 18 : +47 POS (o/w +39 DOS) New Cities Q2 18 net openings: France: +8 Sandro EMEA: +22 Stockholm - Sweden Americas: +2 Maje & Sandro Illum Copenhagen - Denmark Sandro APAC: +15 Changchun Ouya Maje Munich - Germany Sandro Total: +47 Zhengzhou MixC Maje Maje & Sandro Bei
Slide 6: Another semester of sustained digital growth
ANOTHER SEMESTER OF SUSTAINED DIGITAL GROWTH 110 71 75 42 Digital sales (€m) 12 18 2013 2014 2015 2016 2017 H1 18 Digital as % of Group net sales 3% 3% 6% 10% 12% 14.3%
Slide 7: Rolling-out omni-channel services in key markets
ROLLING-OUT OMNI-CHANNEL SERVICES IN KEY MARKETS Wechat Pay Click and collect E-reservation Store to web Alipay Maje 2017 Maje H1/H2 18 Sandro, Maje & CP Sandro, Maje & CP Sandro, Maje & CP Sandro, Maje, CP Europe excl. France Greater China incl. HK, Macau & Taiwan 7
Slide 8: Maje 360° activation in China
MAJE 360° ACTIVATION IN CHINA Maje x Tmall Super Brand Day Reinforce brand image with luxury platform Since June 2018 Celebrity support Nana Ouyang : actress and musician (> 10 millions of followers) Outdoor advertising 20th Anniversary Beijing Event Unique visitors : 4.6 million in one day Strong c
Slide 9: Philippe Gautier, CFO
#2 Philippe Gautier, CFO
Slide 10: Another quarter of very strong growth
ANOTHER QUARTER OF VERY STRONG GROWTH Q2 2018 H1 2018 Q2 18 SALES BREAKDOWN SALES GROWTH at cc. SALES GROWTH at cc. 13% 36% France EMEA 21% APAC Americas +15.2% +15.5% 30% +12.9% reported at €241.3m POINT OF SALES LIKE-FOR-LIKE 12% Sandro Maje 49% +114 LTM +5.8% 39% Claudie Pierlot o/w +86 DOS LTM /
Slide 11: Q2 18: Strong regional dynamics
Q2 18: STRONG REGIONAL DYNAMICS Americas EMEA APAC +27.1% cc. +15.1% cc. +47.7% cc. France -0.7% cc. +4 DOS (LTM) +39 DOS (LTM) +35 DOS (LTM) +8 DOS (LTM) / Resilient sales performance in France, with market share gains in a tough environment (IFM index at –1.7% in Q2 2018) / Robust growth in EMEA d
Slide 12: Q2 18: All brands growing at double digits
Q2 18: ALL BRANDS GROWING AT DOUBLE DIGITS +14.7% at cc. +16.6% at cc. +13.0% at cc. / +33 net openings1 over the LTM / +33 net openings1 over the LTM / +23 net openings1 over the LTM / Q2 18 key openings : Stockholm, / Q2 18 key openings: Munich, / Q2 18 key openings: Zurich, Utrecht Miami, Zhengzh
Slide 13: Equity placement of TopSoho to support liquidity
EQUITY PLACEMENT OF TOPSOHO TO SUPPORT LIQUIDITY AS OF JULY 9TH, 2018 AS OF JULY 11TH, 2018 Ruyi & co-investors Ruyi & Co-Investors Free float Free float 60.2% 53.9% 39.4% 33.1% (57.3%) (1) (51.3%) (1) (37.5%) (1) (31.5%) (1) Founders & Managers Founders & Managers 6.7% 6.7% (11.2%) (1) (11.2%) (1)
Slide 14: Outlook
#3 OUTLOOK
Slide 15: 2018 sales guidance upgraded
2018 SALES GUIDANCE UPGRADED SALES GROWTH at cc. FROM +11-13% TO > +13% Adj. (2) EBITDA MARGIN CONFIRMED Adj.(1) EBITDA MARGIN CONFIRMED Around 17% (1) Excluding LTIP impact 15 cc: at constant currency
Slide 16: Appendix
#4 APPENDIX
Slide 17: Quarterly net sales by brand and region
QUARTERLY NET SALES BY BRAND AND REGION In €m Q1-17 Q1-18 % % at cc. Q2-17 Q2-18 % % at cc. H1-17 H1-18 % % at cc. France 99.1 99.8 +0.7% +0.7% 87.8 87.1 -0.7% -0.7% 186.9 187.0 +0.0% +0.0% EMEA 64.5 71.9 +11.5% +13.3% 64.9 73.5 +13.3% +15.1% 129.4 145.4 +12.4% +14.2% Americas 25.9 29.3 +12.9% +29.5
Slide 18: Breakdown of POS
BREAKDOWN OF POS Directly operated stores Var. Var. Var. Number of DOS H1-17 2017 H1-18 Q2 18 vs H1 18 vs H1 18 vs Q1 18 FY 17 H1 17 By region France 479 475 487 +8 +12 +8 EMEA 306 327 341 +17 +14 +35 Americas 131 135 135 +2 - +4 APAC 106 133 145 - +12 +12 +39 By brand Sandro 446 466 479 +15 +13 +33
Slide 19: Upcoming events
UPCOMING EVENTS UPCOMING EVENTS CONTACTS Investor Relations: / H1 2018 results on September, 4th, 2018 / celia.deverlange@smcp.com Press release: 7:30 am / pauline.roubin@smcp.com Conference Call: 9:00 am Website: www.smcp.com/finance Media: smcp@brunswickgroup.com 19
Slide 20: Definitions of non-IFRS financial measures
DEFINITIONS OF NON-IFRS FINANCIAL MEASURES “Like-for-like sales growth consists of retail sales from directly operated points of sale on a like-for-like basis in a given period compared with the same period in the previous year, expressed as a percentage change between the two periods. Like-for-li