Levi Strauss & Co · NYSE:LEVI
Levi Strauss & — Q1 2006 Earnings Presentation
6 slides from Levi Strauss &'s earnings presentation, Apr 11, 2006
Slide 1: Levi Strauss & Co. First Quarter 2006
Levi Strauss & Co. First Quarter 2006 Presented by: Hans Ploos van Amstel Chief Financial Officer April 11, 2006 This presentation should be read in conjunction with Levi Strauss & Co.'s annual report on Form 10-K for the fiscal year ended November 27, 2005 and quarterly report on Form 10-Q for the
Slide 2: LS&CO. Q1 2006 - Introduction
LS&CO. Q1 2006 - Introduction Revenues down 6% Net income up versus Q1 of 2005 Continued focus on profit and cash flow 1
Slide 3: LS&CO. Q1 2006 - Net Revenues to Net Income
Healthy 18% operating margin consistent with Q1 of 2005 Continued strong gross margin at 48% SG&A expense reduced to 30% of net revenues from 31% Net income 14% up LS&CO. Q1 2006 - Net Revenues to Net Income 2
Slide 4: Business Unit Performance
North American revenues down, mainly driven by Levi Strauss Signature(r) Europe performance reflects business transformation still in progress Asia Pacific continues strong performance LS&CO. Q1 2006 - Business Unit Performance 3
Slide 5: Cash Flow
Operating activities: Operating cash, solid net income and lower working capital Investing activities: Primarily IT systems Financing activities: Normal debt repayment LS&CO. Q1 2006 - Cash Flow 4
Slide 6: Key Conclusions
LS&CO. Q1 2006 - Key Conclusions First-Quarter Results: Continued healthy operating margins Net income up Working capital reduced Lower interest expense and net debt 2006 Outlook: Continued focus on profit and cash flow Sales outlook remains cautious 5