Slide 1: Annual Results 2014
INTRODUCTION Annual Results 2014 Mr Bricolage SA | 2014 annual results 1
Slide 2: Welcome
Welcome INTRODUCTION Jean-François BOUCHER Chief Executive Officer Guy BEGHIN Deputy Managing Director Eric BILHAUT Financial Director Mr Bricolage SA | 2014 annual results 2
Slide 3: No. 1 local DIY Group in France
No. 1 local DIY Group in France INTRODUCTION 866 stores as at 31st December 2014 France: 797 stores of which 87 Directly Owned Stores International: 69 in 9 countries Belgium (43) - Bulgaria (11) - Romania (3) Macedonia (1) - Morocco (4) - Mauritius (2) - Madagascar (2) Uruguay (2) - Andorra (1)
Slide 4: The French Large DIY stores' market
The French Large DIY stores’market INTRODUCTION Significant market downturn confirmed in 2nd half 2014 Monthly index "Large DIY stores" Strong change in the (change in % vs n-1, in value) trend since the summer Q1: + 5.0% S1: + 1.6 % Q2: - 1.4 % Q3: - 3.6 % S2: - 3.3 % Q4: - 3.0 % Combined m
Slide 5: 2014 summary
2014 summary INTRODUCTION Consolidated turnover of €544.0 M - 1.5 % Network Services: +0.2 % Retail: -2.3 % Marked improvement in profits Operating Profit: €26.6 M; + 20.5% Net Profit, Group share: €14.0 M; + 106.6% Strong debt reduction (at 31.12.14) Net Financial Debt: €91.6 M (€-26.7 M
Slide 6: Update on the merger with Kingfisher
Update on the merger with Kingfisher INTRODUCTION Reminder of the steps of the operation 2 April 2014 Signing of non-binding preliminary agreement Press Release 3 April 18 June 2014 ANPF Annual ordinary shareholders' meeting Broad support from Mr.Bricolage members for the project 23 July 2014 Signin
Slide 7: Summary
Summary NETWORK| FINANCE | OUTLOOK | STOCK MARKET 1. Network business 2014 2. Consolidated annual results 2014 3. Outlook 2015 4. Stock Market 5. Appendices Mr Bricolage SA | 2014 annual results 7
Slide 8: 1. Network activity
1. Network activity
Slide 9: Turnover of the Networks: €2.2 Bn in 2014
Turnover of the Networks (inclusive of tax): €2.2 Bn in 2014 NETWORK| FINANCE | OUTLOOK| STOCK MARKET A multi-brand, multi-channel offer Affiliates online sales Change Change like-for-like store Turnover (inclusive of tax) in M€ 31.12.14 total-store basis basis Number of stores Sales in stores 2,177
Slide 10: Development of networks
Development of networks NETWORK| FINANCE | OUTLOOK| STOCK MARKET Reminder of 2014 objectives 2014 2014 objectives executions France France Mr Bricolage: 5 openings Mr Bricolage: 10 openings Les Briconautes: 3 openings Les Briconautes: 2 openings Affiliates: 4 new affiliations Affiliates: 22 new
Slide 11: International development
International development NETWORK| FINANCE | OUTLOOK| STOCK MARKET International turnover: € 222.5M, + 3.1% of total-store basis Belgium: organic and external growth 43 stores Distribution by zone of International 2014 Turnover. Turnover 2014: €124.3M, + 5.7% (total-store basis) Others * +0.6% lik
Slide 12: Directly Owned Stores: continue with restructuring
Directly Owned Stores: continue with restructuring NETWORK| FINANCE | OUTLOOK| STOCK MARKET Continue with reconfiguration of network of stores 2014 2014 objectives executions Continuing with disposal plan 4 disposals Sablé sur Sarthe, Mayenne, Château Gontier (Mr.Bricolage) and Obernai (Briconau
Slide 13: Directly Owned Stores: impact on operating performance
Directly Owned Stores: impact on operating performance NETWORK| FINANCE | OUTLOOK| STOCK MARKET Main factors 2014 Increased competitive pressure: 10 new competitors in our areas Operating profit Op Profit of Directly Owned Stores 2014: €-10.5 M vs. €-12.7 M at 31/12/2013 Contribution to Op Profi
Slide 14: Roll-out of web-to-store
Roll-out of web-to-store NETWORK| FINANCE | OUTLOOK| STOCK MARKET The web as a driver of traffic and in store sales 238 websites, of which 3 national websites: mr-bricolage.fr, le-jardin-de-catherine.com, la- maison-de-catherine.com 1.8 Mn unique visitors/ month (cumulated for the 3 national website
Slide 15: 2. Consolidated annual results
NETWORK| FINANCE | OUTLOOK| STOCK MARKET NETWORK| FINANCE | OUTLOOK| STOCK MARKET 2. Consolidated annual results Mr Bricolage SA | 2014 annual results 15
Slide 16: 2014 consolidated turnover
2014 consolidated turnover NETWORK| FINANCE | OUTLOOK| STOCK MARKET Turnover resists in a contracted market Turnover in M€ 31.12.14 31.12.13 % change Retail 361.2 369.7 -2.3% Sales from Directly Owned Stores 348.4(1) 354.2 -1.6% Online sales 12.8 15.5 -17.4% Network Services 182.8 182.4 +0.2% Sales
Slide 17: Retail: €361.2 M Turnover
Retail: €361.2 M Turnover as of 31/12/2014 NETWORK| FINANCE | OUTLOOK| STOCK MARKET Directly Owned Stores: slight drop in turnover Consolidated Change like- Change current Turnover for-like stores floorspace (1) (1) S1 2014 €177.9 M + 0.4 % + 2.3 % S2 2014 €170.5 M - 6.6 % - 5.4 % Total 2014 €348.4
Slide 18: Retail: contribution to Operating Profit
Retail: contribution to Operating Profit NETWORK| FINANCE | OUTLOOK| STOCK MARKET Improvement OP Profit Retail: €3.4 M Evolution 2013 growth to 2014 (in M€) 31/12/2013 31/12/2014 (1) Like-for-like (2) Acquisitions stores Competition Other Restructurings and transfers +0.7 -1.7 non-recurring and disp
Slide 19: Network Services: contribution to OP Profit
Network Services: contribution to OP Profit NETWORK| FINANCE | OUTLOOK| STOCK MARKET Improvement of "Network Services" Op Profit: €1.1 M Evolution 2013 to 2014 (in M€) Others Amort. Logistics +0.3 UNIMAG Merger Employee Productivity Project Bricorama Disposal LJDC price Savings -1.5 litigation 3.0 -
Slide 20: Contribution of activities to OP Profit
Contribution of activities to OP Profit NETWORK| FINANCE | OUTLOOK| STOCK MARKET In M€ 31.12.2014 31.12.2013 Network Retail Inter-sector Total Total Services Consolidated turnover 182.8 361.2 - 544.0 552.1 Economic turnover (1) 264.3 361.4 (81.7) 544.0 552.1 Business profit 117.7 126.4 (13.3) 230.8
Slide 21: Improvement in contribution of equity method companies
Improvement in contribution of equity method companies (EMC) NETWORK| FINANCE | OUTLOOK| STOCK MARKET Net improvement in the share of net profit of EMCs: €+3.7 M Evolution 2013 to 2014 (in M€) France Belgium Partnerships Eastern -0.6 +1.0 countries 31/12/2013 +1.6 31/12/2014 DEDB of which share of n
Slide 22: P&L for all activities
P&L for all activities NETWORK| FINANCE | OUTLOOK| STOCK MARKET In M€ 31.12.14 31.12.13 % change Consolidated turnover 544.0 552.1 -1.5% EBITDA 42.2 40.2 + 5.0 % as % of turnover 7.7 % 7,3 % + 0.4 pts Operating profit (ROP) 26.6 22.1 + 20.5 % as % of turnover 4.9 % 4.0 % + 0.9 pts Ordinary operating
Slide 23: Strong Group debt reduction
Strong Group debt reduction NETWORK| FINANCE | OUTLOOK| STOCK MARKET Reduction in the net financial debt (NFD): €-26.7 M Evolution of the NFD, from 2013 to 2014(in M€) CAPEX and other investments Financial Taxes (incl. interest +7.2 CVAE) Dividends +4.7 +6.1 +2.5 Disposals WCR (2) Others -4.7 -5.4 -
Slide 24: Continued debt reduction
Continued debt reduction NETWORK| FINANCE | OUTLOOK| STOCK MARKET Net Financial debt (1) Gearing (2) (in M€) (in %) €-26.7 M - 13 points (1) Net financial debt = Net indebtedness (2) Gearing = (Net financial debt) / (equity) NFD ratio/EBITDA: 2.17 x Mr Bricolage SA | 2014 annual results 24
Slide 25: Simplified balance sheet
Simplified balance sheet NETWORK| FINANCE | OUTLOOK| STOCK MARKET In M€ at 31.12.14 ASSETS LIABILITIES Non current assets(1) 303.6 Equity 258.7 of which goodwill impairment 209.3 of which real estate 41.0 of which bank guarantee deposits 3.8 Minority interests 0.1 Current assets(2) 254.4 Financial d
Slide 26: 3. Outlook 2015
NETWORK| FINANCE | OUTLOOK| STOCK MARKET NETWORK| FINANCE | OUTLOOK| STOCK MARKET 3. Outlook 2015 Mr Bricolage SA | 2014 annual results 26
Slide 27: 3 performance drivers
3 performance drivers NETWORK| FINANCE | OUTLOOK| STOCK MARKET Turnover more closeness more digital • more in store frequency 3 drivers Results Debt reduction more Operating Profit more cash Mr Bricolage SA | 2014 annual results 27
Slide 28: Operational levers
Operational levers NETWORK| FINANCE | OUTLOOK| STOCK MARKET Our performance generating drivers 2015 Operational levers Objectives more Turnover On Turnover Reposition the offer Reposition the websites (LJDC and LMDC) Increase in store frequency Create the 35th Anniversary event Reduce out-of-sto
Slide 29: Development of networks: 2015 objectives
Development of networks NETWORK| FINANCE | OUTLOOK| STOCK MARKET 2015 objectives France: Mr.Bricolage brand: 5 openings of Mr.Bricolage member stores, 1 transfer of a Directly Owned Store and 1 Directly Owned Store brand change Les Briconautes brand: 5 Les Briconautes stores moved to Mr.Bricolag
Slide 30: 2015 market trends
2015 market trends NETWORK| FINANCE | OUTLOOK| STOCK MARKET French Large DIY stores’market end January 2015: -2.0 % (source Banque de France) Stores business in France held well in January 2015: +0.1% Within this context, the group continues actions on 3 pillars: • increase turnover in store, • reco
Slide 31: Mr.Bricolage 35th Anniversary
Mr.Bricolage 35th Anniversary NETWORK| FINANCE | OUTLOOK| STOCK MARKET Mr Bricolage SA | 2014 annual results 31
Slide 32: 4. Stock Market
NETWORK| FINANCE | OUTLOOK| STOCK MARKET NETWORK| FINANCE | OUTLOOK| STOCK MARKET 4. Stock Market Mr Bricolage SA | 2014 annual results 32
Slide 33: Mr Bricolage Shareholding
Mr Bricolage Shareholding NETWORK| FINANCE | OUTLOOK| STOCK MARKET At 31 December 2014 Public Institutional: 22.8% Individuals: 7.6% Treasury stocks: 1.3% 31.8% Mr.Bricolage members (ANPF) 41.9% SIFI SIMB SIFA 1.2 % 35.3 % 5.4 % 26.3% TABUR Family On 3 February 2015, the UBS Investment Bank, Wealth
Slide 34: Share price of Mr. Bricolage
Share price of Mr. Bricolage Shareholding NETWORK| FINANCE | OUTLOOK| STOCK MARKET At 04/03/15: Share price € 14.16 Capitalisation €147,51 M 12 month high €15.00 12 month low €11.50 Perf. 12 month +21.65 % From the indexes: CAC Small, CAC Mid &Small, CAC All-Tradable, CAC All-Share
Slide 35: Shareholder, analysts and investor relations
Shareholder, analysts and investor relations NETWORK| FINANCE | OUTLOOK| STOCK MARKET Mr Bricolage SA: Eve JONDEAU Tel: +33 2 38 43 50 00 Email: eve.jondeau@mrbricolage.fr Actifin: Emma Barféty Tel: +33 1 56 88 11 11 Email: ebarfety@actifin.fr All financial information on the Group corporate website
Slide 36: 5. Appendices
APPENDICES ANNEXES 5. Appendices Mr Bricolage SA | 2014 annual results 36
Slide 37: Move from ROP to ROPO
Move from ROP to ROPO (1) APPENDICES in million euros 2013 2014 NS RET TOTAL NS RET TOTAL ROP 36,9 (14,8) 22,1 38,0 (11,4) 26,6 Litigations and risks (0,5) (0,5) (2,6) (0,7) (3,4) W arehouse disposal 0,6 0,6 0,0 ( 2) Disposal of directly owned stores (0,2) 0,6 0,4 (1,2) (1,2) Directly owned stores r
Slide 38: Cash flow statement
Cash flow statement APPENDICES In M€ 31.12.14 Cash flow from operating activities 36.2 Current tax paid (6.1) Change in working capital requirements 5,4 Cash flow from investing activities (2.5) Free cash flow 33.0 2013 dividends paid out in 2014 (2.5) Acquisitions of securities in already controlle