Aeffe S.p.a. · MIL:AEF
Aeffe — H1 2011 Earnings Presentation
15 slides from Aeffe's earnings presentation, Jul 27, 2011
Slide 1: First Half 2011 Results Presentation
First Half 2011 Results Presentation 27, July 2011
Slide 2: 1H 2011 Key Facts
1H 2011 Key Facts Consolidated Revenues +16.6% at € 119.9m, (+16.5% at constant exchange rates) Consolidated EBITDA for € 4.4m, compared to a negative EBITDA of € 2.3m in 1H 2010 Consolidated Net Loss at € 5.1m, compared to a Net Loss of € 6.3m in 1H 2010 Consolidated Net Financial Debt of € 103.5m
Slide 3: Net Sales Breakdown by Division
Net Sales Breakdown by Division(1) 1H 2011 1H 2010 (€m) (€m) 98,2 % on Total Sales % on Total Sales 100 +14.2% * vs 1H 2010 100 Footwear & Leather Footwear Goods 90 90 85,8 21% 22% & Leather Goods 80 80 39,9 78% 79% Prêt à Prêt à porter porter 70 70 34,6 60 60 50 50 40 40 28,5 30 +27.7% * vs 1H 2010
Slide 4: Net Sales Breakdown by Brand
Net Sales Breakdown by Brand 1H 2011 1H 2010 (€m) (€m) 67,9 % on Total Sales % on Total Sales 70 +13.7% * 70 Pollini Pollini 12% 13% J.P. J.P. 59,6 Gaultier 60 5% Gaultier 60 5% Moschino 57% 3% Others 5% Others Moschino 58% 28,2 21% 21% Alberta Alberta 50 Ferretti 50 Ferretti 25,2 40 40 30 25,4 30 +
Slide 5: Net Sales Breakdown by Region
Net Sales Breakdown by Region 1H 2011 1H 2010 (€m) (€m) 52,1 % on Total Sales % on Total Sales +18.2% * 50 50 Russia USA Russia USA Japan Japan 7% 7% 8% 6% 9% 8% 45 45 44,1 21% 14% 22% 12% Europe RoW Europe RoW 21,2 40 40 43% 43% 35 Italy 35 17,9 Italy 30 30 24,7 +10.9%* 25 25 22,1 20 8,9 16,8 20 +3
Slide 6: Net Sales Breakdown by Channel
Net Sales Breakdown by Channel 1H 2011 1H 2010 (€m) (€m) 74,3 % on Total Sales % on Total Sales +18.0% * 70 70 Retail 31% 63,2 Retail 31% 25,5 60 7% Royalties 60 8% Royalties 62% 61% 21,6 50 50 Wholesale Wholesale 37,4 40 40 +16.2 % * 31,9 30 30 18,5 48,8 16,2 20 20 41,6 8,2 10 18,9 +6.0% * 10 7,8 1
Slide 7: Mono-brand Stores Network
Mono-brand Stores Network DOS 1H11 FY10 Europe 45 44 USA 3 3 Asia 42 40 Total 90 87 Franchising 1H11 FY10 Europe 55 53 USA 7 7 Asia 97 98 Total 159 158 7
Slide 8: Income Statement – 1H 2011/2010
Income Statement – 1H 2011/2010 1H 11 1H 10 Net Sales 119,97 102,9 (€m) % change 16,6% Other Revenues 2,5 3,9 Total Revenues 122,5 106,8 % change 14,8% Raw Materials Costs (38,0) (30,0) Service Costs (36,1) (34,8) Costs for use of third parties (11,6) (10,5) Personnel (29,4) (30,5) Other Operating E
Slide 9: Summary Balance Sheet
Summary Balance Sheet 1H 11 FY 10 1H 10 Net Working Capital 73,2 68,4 68,2 (€m) Net Tangible Assets 73,2 75,6 78,1 Net Intangible Assets 151,1 154,1 159,9 Net Financial Assets 3,0 2,9 3,1 Severance Staff, Provisions & Others (64,6) (50,0) (50,1) Net Capital Employed 235,9 251,0 259,1 Group Sharehold
Slide 10: Summary Cash Flow
Summary Cash Flow (€m) 1H 11 FY 10 1H 10 PBT (4,6) (14,6) (8,5) Operating Cash Flow (2,9) 0,7 (4,1) Capital Expenditure (1,5) (6,2) (4,0) Free Cash Flow (4,4) (5,5) (8,1) Cash Flows from Financing Activities 3,7 4,7 8,6 Cash and cash equivalents at the beginning of the year 4,5 5,3 5,3 Cash Flow of
Slide 11: Appendices
Appendices
Slide 12: Company Profile
Company Profile (1) Organisational Structure Ownership Structure Aeffe Fashion Group Chairman: Massimo Ferretti CEO: Simone Badioli IM Fashion Chief Executive Tullio Officer 24% Simone Badioli Badioli 5% General Manager/CFO Mediobanca Marcello Tassinari 2% Aeffe 5% Investor Relation Communication an
Slide 13: Cash Flow Statement
Cash Flow Statement 1H 11 FY 10 1H 10 PBT (4,6) (14,6) (8,5) (€m) Depreciation & Amortisation 6,9 16,7 6,6 Provisions & Impairments (1,0) (0,4) (0,4) Taxes (1,0) (2,2) (1,7) Net Interest 2,0 1,5 (0,4) Change in other liabilities / (assets) (5,3) (0,3) 0,3 Operating Cash Flow (3,0) 0,7 (4,1) Capital
Slide 14: Income Statement – Full Year 2008-2010
Income Statement – Full Year 2008-2010 (€m) 2010A 2009A 2008A Net Sales 219,2 217,04 294,7 % change 1,0% (26,3%) 0,5% Other Revenues 5,9 5,9 6,05 Total Revenues 225,1 222,9 300,7 % change 1,0% (26,1%) 0,6% Raw Materials Costs (63,2) (69,6) (79,2) Service Costs (70,5) (79,5) (103,1) Cost for use of t
Slide 15: Important Information
Important Information The information provided in this presentation is being furnished to you solely for your information on a confidential basis. Neither this document nor any copy thereof may be reproduced or redistributed. Persons into whose possession the content of this presentation come should