Myer Holdings Limited · ASX:MYR
Myer — Shareholder Meeting (October 2020)
14 slides from Myer's shareholder meeting presentation, Oct 29, 2020
Slide 1: Annual General Meeting
20 ANNUAL For personal use only GENERAL 20 MEETING V I RT UA L M E E T I N G AT : https://agmlive.link/MYR20
Slide 2: CEO Update
For personal use only JOHN KING CEO UPDATE • FY20 RESULTS • CUSTOMER FIRST PLAN / OVERLAY • CHRISTMAS • IN SUMMARY 20 AG NE NN EURAAL L 20 M E E T I N G 1
Slide 3: FY20 Results
FY20 RESULTS Trading Strengthened Refinancing For personal use only Result (Stores Closed Apr/May) Balance sheet Agreed • Record Group online sales1 • EBITDA3 $93.5 million; EBIT3 • Net cash of $7.9 million, $46.6 • Extension with existing lenders up 61.1% to $422.5 million; loss of $6.1 million mil
Slide 4: Prudent Fiscal Management
FY20 RESULTS PRUDENT FISCAL Net (Debt)/Cash $m – FY16 to FY20 For personal use only MANAGEMENT Reduced Debt 8 • Reduced net debt and Myer was in a net cash position at end of FY20 • The FY20 improvement despite COVID-19 impacts reflects the prudent approach to preserving cash, disciplined cost contr
Slide 5: An Online Boom That Keeps Going
FY20 RESULTS AN ONLINE BOOM, For personal use only THAT KEEPS GOING Key Metrics 2H20 change on 2H19 Group online1 • Group Online1 sales now $422.5 million – Sales growth % up 98.8% making us one of Australia’s largest online Myer Online2 retailers Sales growth % up 105.7% • Online channel grew faste
Slide 6: Online Is Core to Our Business Growth
FY20 RESULTS ONLINE IS CORE For personal use only TO OUR BUSINESS Myer Online2 sales vs Market Indicators GROWTH 105.7% NAB Online Retail Sales Index3 +28.6% 12mths to July 20 • Group Online1 sales represented over 65.0% 28% of our business in 2H20 and will ABS Online Non-Food Retailing4 +58.1% 6mth
Slide 7: Customer First Plan Is Still the Right Plan
CUSTOMER FIRST PLAN IS STILL THE RIGHT PLAN ENSURING For personal use only Our Values MYER IS AUSTRALIA’S Customers come first Own our Future Do what’s right One inclusive team FAVOURITE DEPARTMENT Our Priorities STORE Providing friendly helpful service, Transform the customer ‘Only at Myer’ brands
Slide 8: Our Plan Has Delivered So Far
CUSTOMER FIRST PLAN GAINED TRACTION OUR CUSTOMER FIRST PLAN For personal use only HAS DELIVERED SO FAR • Improved in-store experience and customer satisfaction metrics • Reduced cost of doing business • Reduced space • Deleveraged balance sheet and increased cash • Edit our merchandise Offer • Drive
Slide 9: The Customer First Plan Remains the Right Plan
CUSTOMER FIRST PLAN THE CUSTOMER CUSTOMER FIRST PLAN COVID-19 OVERLAY For personal use only FIRST PLAN Our values Actions taken REMAINS THE Our COVID-19 RIGHT PLAN Customers come first Do what’s right response is an overlay to Accelerate Re-sequence Expand - but with COVID-19 we have the Customer ac
Slide 10: Accelerate, Refocus and Rationalise Actions
CUSTOMER FIRST PLAN Accelerate Accelerate Adapt in-store Refocus Rationalise For personal use only online F2C experience merchandise property • Group Online1 sales now • 3PL – more efficient • Adapting our in-store • Our focus - making our • On track to reduce space represent 17% of sales online ful
Slide 11: Christmas Retail Focus
CHRISTMAS RETAIL FOCUS DRIVING THE RETAIL PROGRAM For personal use only THIS CHRISTMAS Ensuring a bigger, better MYER one crucial to a successful Black Friday and Cyber Monday Christmas trading period • Strong promotional program to underpin • During the Christmas trading period there trade activity
Slide 12: Delivering a Strong Christmas
CHRISTMAS 2020 DELIVERING A For personal use only STRONG CHRISTMAS Focus on delivering Australia’s Christmas Ready a safe and engaging Marketplace to Launch Christmas • Adapting our in-store • Australia’s home for • Well stocked, strong experience to ensure the Christmas Gifting promotional plans an
Slide 13: In Summary
For personal use only IN SUMMARY • Customer First Plan is still the right plan – but we need to accelerate, re-sequence and expand it to ensure we capitalise on the opportunities that exist in a COVID-normal retail world. • Focused on the delivery of Christmas, we are well stocked, well placed to pr
Slide 14: Important Information
For personal use only IMPORTANT INFORMATION The information in this document is general only and does not purport to be complete. It should be read in conjunction with Myer’s other periodic and continuous disclosure announcements. Investors or potential investors should not rely on the information p