Autobacs Seven Co., Ltd. · TSE:9832
Autobacs Seven — Q3 FY March 2017 Earnings Presentation
29 slides from Autobacs Seven's earnings presentation, Jan 31, 2017
Slide 1: Results for the Nine Months Ended December 31, 2016
【Reference】 Translation Results for the Nine Months Ended December 31, 2016 January 31, 2017 AUTOBACS SEVEN CO., LTD.
Slide 2: Q3 FY March 2017 Consolidated P/L
Q3 FY March 2017 Consolidated P/L Decrease in net sales and income: Net sales and gross profit declined, while SG&A expenses remained within the plan. （億 円） Demand for winter goods increased from the previous year, mainly reflecting the strengthening of sales promotions in the third quarter and snow
Slide 3: Analysis for Operating Income
Analysis for Operating Income Domestic Retail sales Total store basis: +1.0% Same store basis: -1.1% Operating income (Billion yen) Amount Major drivers of variance (yoy) Non-consolidated 5.76 -2.31BY Net sales: -5.62BY (-4.3%) Gross Profit: -2.00BY (20.3% (last year 21.0%) ・Decrease in gross margin
Slide 4: Quarterly P/L
Quarterly P/L (Billion Yen) FY March 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter (Estimate-result) 2017 (Estimate) Net sales 47.5 47.2 65.8 46.0 206.7 YoY -3.1% -4.7% -0.5% +6.4% -0.7% Gross margin 14.8 15.7 20.7 15.0 66.5 (% of Sales) (31.2%) (33.4%) (31.5%) (32.8%) （32.2%) YoY -5.4% -3.7% +0.2
Slide 5: Analysis for Operating Income (3rd Quarter)
Analysis for Operating Income（3rd Quarter) Domestic Retail sales Total store basis: +4.4% Same store basis: +4.0% Operating income (Billion yen) Amount Major drivers of variance (yoy) Non-consolidated 4.08 -0.47BY Net sales: -1.34BY (-2.5%) Gross Profit: -0.59BY (20.3% (last year 20.9%) ・Decrease in
Slide 6: Segment Information
Segment Information (Million Yen) Nine months ended Nine months ended YoY Dec 31, 2016 Dec 31, 2015 change Net Sales 124,136 129,756 ▲4.3% Non-consolidated Ordinary Income 5,762 8,077 ▲28.7% Domestic store Net Sales 51,864 52,205 ▲0.7% subsidiaries Ordinary Income 214 ▲594 - Net Sales 5,975 7,061 ▲1
Slide 7: Analysis of Income statements (Nine months ended Dec 31, 2016)
Analysis of Income statements (Nine months ended Dec 31, 2016) Non-consolidated -5.47 BY ↑ Fuel, car sales , inspection services, etc. Net sales Wholesale -4.5% ↓Accessories, tires & wheels, car electronics and etc. 124.1 BY -0.00 BY ↑ Car sales, accessories, fuel and etc. YoY: -5.62 BY Retail +0.1%
Slide 8: Performance by Overseas Subsidiaries
Performance by Overseas Subsidiaries FRANCE THAILAND SINGAPORE CHINA MALAYSIA Number of stores at Sep. 30, 2015 -including FC 11 8 2 0 5 stores- 9 months 9 months 9 months 9 months 9 months 9 months 9 months 9 months 9 months 9 months FY FY FY FY FY FY FY FY FY FY Period March March March March Marc
Slide 9: Store Openings and Closings (Plan)
Store Openings and Closings (Plan) Fiscal year ending March 31, 2016 (Plan) No. of stores Q1 ~ Q3 (result) No. of stores Q4 (Plan) No. of stores Domestic as of March as of Dec 31, as of Mar 31, stores 31, 2016 New S/B・R/L Close 2016 New S/B・R/L Close 2017 AUTOBACS 498 +7 +2/-1 -9 497 +2 -2 497 Super
Slide 10: Domestic Retail Sales
Domestic Retail Sales Retail sales including FCs*: 198.7 billion Yen (+0.1% YoY) (Billion Yen) 198.5 198.7 250 Fuel & second-hand goods: 3.3 billion Yen (+4.7% YoY） 200 3.2 3.3 Statutory safety inspection : 12.5 13.1 19.1 13.1 billion Yen (+4.2% YoY) 21.1 448 thousand cars (+4.3% YoY) 150 Number of
Slide 11: Sales Ups & Downs by Merchandise (Q3)
Sales Ups & Downs by Merchandise (Q3) 【Same Store Basis】 Sales: -1.1% YoY, Number of customers: -4.4% YoY Retail sales ups and downs by merchandise category (Million Yen) (for nine months ended Dec. 31, 2016, YoY change in amount, total store basis) 1,000 613 Refreshment service : +170 MY 500 373 Ti
Slide 12: Sales Trend: Retail & Wholesale (Jan 2016 – Dec 2016)
Sales Trend: Retail & Wholesale (Jan 2016 – Dec 2016) 【YoY change for the last 12 months】 15.0% Rise in demand for winter goods in 11.5% sales whoresale reaction to the previous year’s 10.0% sluggish conditions due to a warm Increase in demand for winter. merchandise for winter due to snow 5.4% 5.0%
Slide 13: Automobile purchase and sales (1)
Automobile purchase and sales (1) Commercial flow of car purchase and B2B sales (No. of cars denotes cumulative units for the nine months ended Dec. 31, 2016) FC Headquarters Sales by auction Appraisal and consigned to FC purchase Headquarters Used car dealers 1,661 cars Auto auctions Customers 10,3
Slide 14: Automobile purchase and sales (2)
Automobile purchase and sales (2) Commercial flow of retail sales (No. of cars denotes cumulative units for the nine months ended Dec. 31, 2016) New car dealers New car dealers Auto auctions Used car dealers Auto auctions Procurement Procurement FC Headquarters Customers Purchase & Wholesale Invento
Slide 15: Consolidation Adjustments
Consolidation Adjustments Consolidation Adjustments (Million Yen) Nine months ended Nine months ended December 31, 2016 December 31, 2015 Operating Income for segment total 6,297 7,949 Elimination of Intersegment transaction (Income of subsidiaries for supporting functions, -336 -376 etc.) Inventori
Slide 16: Progress of New Store Openings
Progress of New Store Openings Location Owner of Store name Opening date (Prefecture) store 1 AUTOBACS KAWAGOE Store Saitama FC November 3, 2016 2 AUTOBACS TATEBAYASHI SUWA-CHO Store Gunma RC November 3, 2016 3 AUTOBACS AWASE-MALL Store Okinawa FC November 11, 2016 AUTOBACS Used Car Purchase Store 4
Slide 17: AUTOBACS TATEBAYASHI SUWA-CHO Store
Development of stores featuring a gas station facility AUTOBACS TATEBAYASHI SUWA-CHO Store With a focus on the operation of self-service gas stations that are expected to be used more frequently by drivers, we developed new stores that offer a combination of automotive goods, statutory safety inspec
Slide 18: AUTOBACS AKITA YURIHONJO Store
Development of stores that are not inconvenient for customers AUTOBACS AKITA YURIHONJO Store We implemented renewals to improve customer usability (opened on December 23, 2016). [Differences from conventional Autobacs stores] ・Significant change in the way goods are displayed. ⇒ Displays that adapt
Slide 19: Smart+1 IBARAKI NISHI Store
Development of store focusing on car maintenance, especially car washing Smart+1 IBARAKI NISHI Store (opened on February 9, 2017) Providing three Smarts Plus One Value for customers ①Smart time management ⇒ Full reservation system ⇒ You can make a reservation as early as three hours before ②Smart ch
Slide 20: Pedal Watcher
Development of goods that address growing concerns regarding safety New product responds to new customer’s needs through cooperative efforts with suppliers “Pedal Watcher” Release date: December 5, 2016 Price: 39,999 yen (Including the main body, installation parts and installation service. Excludin
Slide 21: Reorganization of Store Subsidiaries
Reorganization of Store Subsidiaries Optimize the operational structure and increase area competitiveness and management efficiency ・Transfer of shares of store subsidiaries Transferred all shares of a store subsidiary in Hokkaido to a franchisee (include transfer of 17 stores） ・Transfer of store ow
Slide 22: New Business Development
New Business Development Addition of an import car dealer operating company as a subsidiary (December 2016) Motoren Tochigi Corp. ・Operates five dealers including authorized BMW dealers in Tochigi. ・Sells new and certified pre-owned BMW cars as well as services. Tochigi BMW Utsunomiya Headquarters B
Slide 23: Organizational Changes (from April 1, 2017)
Organizational Changes (from April 1, 2017) To reinforce framework for quick business operation under Head Officer positions responsible for overseeing each division, so as to increase the efficiency of business execution in the new medium-term business plan Purposes 1) Creates four Head Officers fo
Slide 24: New organization and officers (from April 1, 2017)
New organization and officers (from April 1, 2017) Corporate Audit Department Office of the President Horii Human Resources, General Affairs & Internal Control Head of and Information Technology Head of Eastern Japan Region Hojo Corporate Strategy Headquarters Administration Fujiwara Finance & Accou
Slide 25: Aiming growth by utilizing total function in our group
Aiming growth by utilizing total function in our group JV with ・ Competitive merchandize New CCC Suppliers AUTOBACS SEVEN ・ Decease COGS E-commerce ・Installation at stores Car purchase BMW New specialty stores Chain Growth ・ Secure and cultivate Customers B2B business Subsidiaries for Car Goods huma
Slide 26: Shareholders Return
Shareholders Return Dividends per share Dividends and share buyback (Yen) (Billion Yen) 12 80 10 60 8 5.05 5.25 30 30 30 6 ※ 40 １０ 4 20 5.19 5.04 4.95 30 30 30 2 0 0 March 2015 March 2016 March 2017 (E) March 2015 March 2016 March 2017 (E) 1st Half 2nd Half Amount of share buyback Dividend paid Amou
Slide 27: Balance Sheet / Assets
Balance Sheet / Assets (Billion Yen) 203.8 180.4 174.2 173.1 203.0 Cash and deposits 38.5 37.5 Trade notes 37 and account 37.1 34.3 receivables 32 35.2 10.3 19.6 Lease investment 20.6 20.7 8.8 assets 9.7 20 9.3 8.9 17.7 Inventories 17.2 16.5 17.1 28.8 24 30.3 Other current assets 17.7 19.7 Tangible
Slide 28: Balance Sheet / Liabilities & Net Assets
Balance Sheet / Liabilities & Net Assets (Billion Yen) 203.8 180.4 174.2 173.1 203.0 Trade notes & accounts payable 33.9 35.2 ST borrowings and corporate bond 13.8 2.6 2.4 13.4 13.3 4.0 Other ST liabilities 20.8 19.2 2.9 3.0 16.4 15.3 20.9 2.3 2.3 1.5 0.6 Bonds and LT debts 11.0 10.8 2.0 10.7 10.7 1
Slide 29: Forward-Looking Statements
Forward-Looking Statements These materials include forecasts regarding the Company’s future plans, strategies, and performance. This information is based on judgments and estimates made in accordance with information currently available. Actual results may differ materially from forecasts due to suc
Autobacs Seven — Q3 FY March 2017 Earnings Presentation on 6ix