Aeffe S.p.a. · MIL:AEF
Aeffe — H1 2010 Earnings Presentation
15 slides from Aeffe's earnings presentation, Jul 30, 2010
Slide 1: First Half 2010 Results Presentation
First Half 2010 Results Presentation 30, July 2010
Slide 2: 1H 2010 Key Facts
1H 2010 Key Facts Consolidated Revenues -7.4% at € 102.9m, (-8.1% at constant exchange rates) Consolidated EBITDA negative for € 2.3m Consolidated Net Loss at € 6.3m Consolidated Net Financial Debt of € 95.6m (€ 87.7m as of 31 December 2009) 244 Mono Brand Stores (vs. 227 at the end of 2009) 2
Slide 3: Net Sales Breakdown by Division
Net Sales Breakdown by Division(1) 1H 2010 1H 2009 (€m) (€m) % on Total Sales % on Total Sales 100 100 Footw ear Footwear & Leather & Leather 90 -5.7% vs 1H 2009 90 Goods Goods 23% 21% 80 80 77% 79% Prêt à Prêt à 32,3 porter porter 70 34,6 70 60 60 50 50 40 40 30 -19.2% vs 1H 2009 30 57,9 51,2 9,3 2
Slide 4: Net Sales Breakdown by Brand
Net Sales Breakdown by Brand 1H 2010 1H 2009 (€m) (€m) % on Total Sales % on Total Sales 70 70 Pollini Pollini 0.2% 13% 15% J.P. J.P. Gaultier 60 Moschino 5% Gaultier 60 7% 58% 3% Others Moschino 4% 53% Others 21% 21% Alberta Alberta 50 Ferretti 50 Ferretti 25,2 23,0 40 40 30 30 (6.9%) 20 20 8,3 35,
Slide 5: Net Sales Breakdown by Region
Net Sales Breakdown by Region 1H 2010 1H 2009 (€m) (€m) % on Total Sales % on Total Sales 50 Russia USA 50 Russia USA Japan Japan (5.0%) 6% 9% 7% 8% 8% 7% 45 Europe 45 Europe RoW 22% 12% RoW 21% 15% 40 40 16,5 43% 42% 35 17,9 35 Italy Italy 30 30 25 (6.6%) 25 20 20 7,8 7,5 (24.2%) 15 15 29,9 26,2 5,
Slide 6: Net Sales Breakdown by Channel
Net Sales Breakdown by Channel 1H 2010 1H 2009 (€m) (€m) % on Total Sales % on Total Sales 70 Retail 80 Retail (13.8%) 31% 26% 70 60 Royalties Royalties 8% 8% 20,1 21,6 61% 60 66% 50 Wholesale Wholesale 50 40 8.5% 40 30 30 16,2 53,1 20 41,6 14,4 20 (14.9%) 10 15,7 10 3,8 14,4 4,3 4,0 4,8 0 0 Wholesa
Slide 7: Mono-brand Stores Network
Mono-brand Stores Network DOS 1H10 FY09 Europe 42 38 USA 3 3 Asia 38 38 Total 83 79 Franchising 1H10 FY09 Europe 54 52 USA 7 7 Asia 100 89 Total 161 148 7
Slide 8: Income Statement – 1H 2010/2009
Income Statement – 1H 2010/2009 (€m) 1H 10 1H 09 Net Sales 102,9 111,1 % change (7,4%) Other Revenues 3,9 2,6 Total Revenues 106,8 113,7 % change (6,1%) Raw Materials Costs (30,0) (35,3) Service Costs (34,8) (41,9) Costs for use of third parties (10,5) (9,7) Personnel (30,5) (32,0) Other Operating E
Slide 9: Summary Balance Sheet
Summary Balance Sheet (€m) 1H 10 FY 09 1H 09 Net Working Capital 68,2 67,8 80,3 Net Tangible Assets 78,1 76,6 78,5 Net Intangible Assets 159,9 157,0 167,7 Net Financial Assets 3,1 2,8 2,7 Severance Staff, Provisions & Others (50,1) (46,0) (57,4) Net Capital Employed 259,1 258,2 271,8 Group Sharehold
Slide 10: Summary Cash Flow
Summary Cash Flow (€m) 1H 10 FY 09 1H 09 PBT (8,5) (30,8) (14,3) Operating Cash Flow (4,1) (10,6) (15,3) Capital Expenditure (4,0) (4,2) (3,7) Free Cash Flow (8,1) (14,8) (19,0) Cash Flows from Financing Activities 8,6 12,5 17,7 Cash and cash equivalents at the beginning of the year 5,3 7,7 7,7 Cash
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 Officer 24% Tullio Simone Badioli Badioli 2% General Manager/CFO Mediobanca Marcello Tassinari 2% Aeffe 5% Investor Relation Communication an
Slide 13: Cash Flow Statement
Cash Flow Statement (€m) 1H 10 FY 09 1H 09 PBT (8,5) (30,8) (14,3) Depreciation & Amortisation 6,6 13,6 5,2 Provisions & Impairments (0,4) (1,0) (0,1) Taxes (1,7) (1,8) (2,2) Net Interest (0,4) 3,7 1,8 Change in other liabilities / (assets) 0,3 5,7 (5,7) Operating Cash Flow (4,1) (10,6) (15,3) Capit
Slide 14: Income Statement – Full Year 2007-2009
Income Statement – Full Year 2007-2009 (€m) 2009A 2008A 2007A Net Sales 217,04 294,7 293,2 % change (26,3%) 0,5% 10,2% Other Revenues 5,9 6,05 3,5 Non-Recurring Revenues - 2,2 Total Revenues 222,9 300,7 298,9 % change (26,1%) 0,6% 8,7% Raw Materials Costs (69,6) (79,2) 80,9 Service Costs (79,5) (103
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