Super Retail Group Limited · ASX:SUL
Super Retail — FY2013 Earnings Presentation
18 slides from Super Retail's earnings presentation, Aug 21, 2013
Slide 1: Results for the 52 weeks to 29 June 2013
For personal use only Super Retail Group Results for the 52 weeks to 29 June 2013 Peter Birtles, Managing Director David Burns, Chief Financial Officer 21st August 2013
Slide 2: Group Highlights
Group Highlights 2 12/13 11/12 10/11 09/10 08/09 07/08 For personal use only Sales LFL % • Group NPAT up by 23% SCA 5.0% 3.9% 4.8% 5.0% 7.3% 4.1% • Group EBIT up by 22% Leisure* 3.1% 6.5% 4.6% 4.8% 12.5% 5.7% • Group Sales up by 22% Sports 8.0% 5.8% *Leisure is BCF only until 11/12 • Results continu
Slide 3: Performance Trends
Performance Trends 3 For personal use only Sales ($m) EBIT ($m) 172.3 2020 140.7 1654 87.5 1092 715 829 938 45.7 55.1 65.8 526 625 28.9 38.1 June June June June June June June June June June June June June June June June 06 07 08 09 10 11 12 13 06 07 08 09 10 11 12 13 EPS (cents) * Post Tax ROC (%)
Slide 4: Group Results
Group Results 4 2012/13 Change For personal use only • June 2013 result includes full 52 week contribution from Rebel/Amart (pcp 35 weeks) $m on pcp • Solid sales growth in all divisions through both strong LFL growth and new stores • Group NPAT impacted by Ray’s Outdoors and Sales 2,020.0 22.1% Gol
Slide 5: Divisional Results
Divisional Results 5 2012/13 2011/12 For personal use only Sales EBIT Sales EBIT $m $m $m $m Auto Retailing 789.0 87.1 732.3 77.4 Leisure Retailing 522.5 33.2 456.3 32.6 Sports Retailing 703.5 63.4 460.3 49.4 Group & Unallocated 5.0 (11.4) 5.2 (18.7) Total Group 2,020.0 172.3 1,654.1 140.7 • Leisure
Slide 6: Auto Retailing
Auto Retailing 6 2012/13 change on For personal use only • Divisional result includes Supercheap Auto and $m pcp Auto Trade Direct (not material at this stage) Sales 789.0 7.8% • Strong sales from new stores and increased momentum in LFL sales growth at 5.0% growth in PCP. LFL sales growth 5.0% • So
Slide 7: Leisure Retailing
Leisure Retailing 7 • Overall results reflected solid sales and margin 2012/13 change on For personal use only growth at BCF and Ray’s Outdoors and strong sales pcp growth for FCO. $m • 14 nett new BCF stores and 3 nett new Ray’s Sales 522.5 14.5% Outdoors stores opened to bring total stores to 105
Slide 8: Sports Retailing
Sports Retailing 8 • Sports Retailing result includes 52 weeks of 2012/13 change on For personal use only Rebel/Amart, prior period included 35 weeks. Due pcp to sales seasonality care should be taken in $m interpreting reported comparisons to PCP Sales 703.5 52.8% • Contribution from Rebel / Amart
Slide 9: Group and Unallocated
Group and Unallocated 9 • Group and Unallocated includes SRG Commercial, 2012/13 change on For personal use only consolidated investment in Oceania Bicycles and pcp Group costs not allocated to segments $m • Rebel Group acquisition costs are held at group and Sales 5.0 (3.8%) not allocated to busine
Slide 10: Gross Margin & Cost of Doing Business
Gross Margin & Cost of Doing Business 10 33.7% For personal use only 0.3% ‐0.3% 44.5% 0.4% 1.0% 0.3% 0.3% ‐0.3% 43.8% 32.5% 0.2% GP% Mvmt Ray’s/ GP% Adj Stores Mktg Outgoings Multi‐ Mix Rays/ CODB% CODB% Channel GX Prov. 2012/13 2011/12 GX Prov. 2012/13 2011/12 • Gross margins have increased in Auto
Slide 11: Group Cash Flow
Group Cash Flow 11 Jun 13 Jun 12 For personal use only • New and refurbished store investment of $68.5m (including store set‐up and store fitout $m $m capex) is being fully funded out of operating cash flows Operating cash flow 250.0 179.8 • Investment in new and refurbished store capex (pre store s
Slide 12: Group Balance Sheet
Group Balance Sheet 12 Jun 13 Jun 12 For personal use only • Inventory growth from new stores and $m $m merchandise growth initiatives is offset by strong funding from creditors • SCA closing average inventory per store is 4% Inventory higher than PCP due to earlier receipting of - Auto Retailing 16
Slide 13: Returns & Capital Ratios
Returns & Capital Ratios 13 For personal use only 2013 2012 • Improvement in EPS ratio reflect improved profit performance EPS – reported 52.3c 46.4c • All cover ratios are well within covenanted levels Fixed charge cover 1.93x 1.94x • Average net debt increase as a result of the Rebel acquisition.
Slide 14: Group Strategic Programs
Group Strategic Programs For personal use only
Slide 15: Range, Brand and Service Development
Range, Brand and Service Development 15 For personal use only Channel and Customer Development Range Development • New stores • New product introduction • Auto – Grow to 320 stores • Circa 20 to 25% of product renewed • Leisure – Grow to 220 stores annually • Sports – Grow to 185 stores • Focus on g
Slide 16: Integrated Multi Channel Capabilities
Integrated Multi Channel Capabilities 16 For personal use only Understanding and Engaging Customers Supply Chain & Inventory Management Objectives: Objectives: •Engaging and integrated customer experience •The right supply chain to support a $3bn + multi across all channels channel multi business or
Slide 17: Supporting Capabilities
Supporting Capabilities 17 For personal use only Operating Model and Reporting Attracting and Engaging Team Members Objectives: Objectives & Current Performance: • Reduce business operating costs by 2% of sales •Achievement of KPIS in areas of Attraction, Retention, Engagement, Safety, Succession an
Slide 18: Looking Forward
Looking Forward 18 Auto Retailing • LFL sales growth in the first 7 weeks of 13/14 circa 3% For personal use only • SCA store development : plan to open 5 new store, complete 32 refurbishments and relocations (including 5 super stores and 4‘store of the future’ pilot stores) • Full year gross margin