Beacon Lighting Group Ltd · ASX:BLX
Beacon Lighting — H1 FY2020 Earnings Presentation
23 slides from Beacon Lighting's earnings presentation, Feb 20, 2020
Slide 1: H1 FY2020 Results Presentation
For personal use only Beacon Lighting Group Limited H1 FY2020 RESULTS PRESENTATION 20 FEBRUARY 2020
Slide 2: Contents
CONTENTS For personal use only 1 RESULTS OVERVIEW 2 FINANCIALS 3 GROWTH STRATEGIES 4 H2 FY2020 OUTLOOK 5 QUESTIONS 6 APPENDICES RESULTS PRESENTATION H1 FY2020 2
Slide 3: Results Overview
For personal use only 1 RESULTS OVERVIEW
Slide 4: H1 FY2020 Key Results
1 H1 FY2020 KEY RESULTS For personal use only • Group statutory NPAT result of $12.7m, an increase of 8.7% • Group underlying NPAT result of $9.0m, a decrease of 21.6%(1) • Group sales result of $123.1m, an increase of 0.3%(1) • Record sales for Beacon Lighting Company Stores, Online Sales Channels,
Slide 5: H1 FY2020 Statutory Result
1 H1 FY2020 STATUTORY RESULT For personal use only $'000 H1 FY2019 H1 FY2020 Change $ Change % Sales 128,296 123,609 (4,687) (3.7%) Gross Profit 83,239 77,480 (5,759) (6.9%) Gross Profit Margin % 64.9% 62.7% Other Income 816 8,361 7,545 924.6% % of Sales 0.6% 6.8% Operating Expenses (1) (64,278) (52
Slide 6: H1 FY2020 Underlying Result
1 H1 FY2020 UNDERLYING RESULT For personal use only Underlying Underlying $'000 Change $ Change % H1 FY2019 (1) (2) H1 FY2020 (1) (3) Sales 122,799 123,110 311 0.3% Gross Profit 81,931 79,635 (2,296) (2.8%) Gross Profit Margin % 66.7% 64.7% Other Income 816 581 (235) (28.8%) % of Sales 0.7% 0.5% Ope
Slide 7: Financials
For personal use only 2 FINANCIALS
Slide 8: Sales
2 SALES For personal use only SALES: $123.1m increased by 0.3% (1) COMPANY STORE COMPARATIVE SALES: Decreased by 1.9% • Sales remain inconsistent from week to week and month to month • Modest sales growth for total company stores. Encouraging recovery in WA. Solid result for NSW • Sales declined for
Slide 9: Gross Profit
2 GROSS PROFIT For personal use only Gross Profit: 64.7% of sales to $79.6m (1) • Gross profit margin remains strong but has declined due to the movement in the AUD • Continued innovation in product development provides opportunity to manage margins going forward Gross Profit $m (1) (2) 81.9 79.6 79
Slide 10: Operating Expenses / Other Income
2 OPERATING EXPENSES / OTHER INCOME For personal use only Underlying Underlying OPEX: Increased by 0.4% of sales to $63.7m (1) $'000 H1 FY2019 (1) H1 FY2020 (1) Change $ Change % Other Income 816 581 (235) (28.8)% • Other Income continues to decline as franchised % of Sales 0.7% 0.5% stores are conv
Slide 11: Cash Flow
2 CASH FLOW For personal use only • Cash flow has been supported by the sale $'000 H1 FY2019 H1 FY2020 of the Parkinson Distribution Centre (QLD) Cash Flow from Operations • Purchased the Beacon Lighting franchised Receipts from Customers 140,142 139,775 store at Myaree (WA) Payments to Suppliers &
Slide 12: Balance Sheet
2 BALANCE SHEET For personal use only $'000 H1 FY2019 H1 FY2020 • Strong cash position Cash 23,051 32,789 • Receivables decline due to closing down of Beacon Receivables 12,561 8,671 Energy Solutions Inventories 67,641 75,561 • Inventories have increased due to flat sales and Other 1,838 2,122 curre
Slide 13: Growth Strategies
For personal use only 3 GROWTH STRATEGIES
Slide 14: Growth Strategies: Strategy Update
3 GROWTH STRATEGIES For personal use only STRATEGY UPDATE Brand and Customer Beacon Lighting will continue to enhance • Core range consists of more than 3,000 of the latest, fashionable, the brand and the customer experience in technologically advanced and energy efficient lighting and fan products
Slide 15: Growth Strategies (Continued)
3 GROWTH STRATEGIES (CONTINUED) For personal use only STRATEGY UPDATE New Product Ranges Beacon Lighting will offer an • Designed and developed 267 exclusive new products for our customers extensive range of the latest, • Formally launched the new Mammoth Fan range including a dedicated website fash
Slide 16: Growth Strategies (Continued)
3 GROWTH STRATEGIES (CONTINUED) For personal use only STRATEGY UPDATE Emerging Beacon Lighting will target the • Record sales for Light Source Solutions Roadway and Beacon International Businesses growth of sales and profits of • Beacon International opened a wholesale lighting showroom in Dallas (U
Slide 17: H2 FY2020 Outlook
For personal use only 4 H2 FY2020 OUTLOOK
Slide 18: H2 FY2020 Outlook
4 H2 FY2020 OUTLOOK For personal use only • Recent company store comparative sales have had a modest improvement compared to H1 FY2020 • The company store at Virginia (QLD) is currently under construction • Exciting new concept showroom is expected to open for Custom Lighting in Malvern (VIC) • Re-p
Slide 19: Questions
For personal use only 5 QUESTIONS
Slide 20: Appendix
6 APPENDIX For personal use only 1. Other Information 2. Reconciliation of the H1 FY2019 Statutory Profit to the Underlying Profit 3. Reconciliation of the H1 FY2020 Statutory Profit to the Underlying Profit RESULTS PRESENTATION H1 FY2020 20
Slide 21: Appendix 1: Other Information
6 APPENDIX 1: OTHER INFORMATION For personal use only DISCLAIMER The presentation contains “forward-looking statements”. All statements other than those of historical facts included in the presentation are forward-looking statements. Where the Company expresses or implies an expectation or belief as
Slide 22: Appendix 2: Reconciliation of H1 FY2019 Statutory to Underlying Profit
6 APPENDIX 2: For personal use only Reconciliation of $'000 Statutory Less Underlying H1 FY2019 BES (1) H1 FY2019 (2) the H1 FY2019 Sales 128,296 5,497 122,799 Statutory Profit to the Underlying Gross Profit 83,239 1,308 81,931 Profit Gross Profit Margin % 64.9% 66.7% Other Income 816 - 816 % of Sal
Slide 23: Appendix 3: Reconciliation of H1 FY2020 Statutory to Underlying Profit
6 APPENDIX 3: For personal use only Reconciliation of Statutory Less Less Less Underlying $'000 the H1 FY2020 H1 FY2020 BES (1) PDC Sale (2) AASB 16 (3) H1 FY2020 (4) Statutory Profit Sales 123,609 499 - - 123,110 to the Underlying Gross Profit 77,480 (2,155) - - 79,635 Profit Gross Profit Margin %
Beacon Lighting Group — H1 FY2020 Earnings Presentation on 6ix