Super Retail Group Limited · ASX:SUL
Super Retail — H1 FY2013 Earnings Presentation
16 slides from Super Retail's earnings presentation, Feb 20, 2013
Slide 1: Results for the 26 weeks to 29 December 2012
For personal use only Super Retail Group Results for the 26 weeks to 29 December 2012 Peter Birtles, Managing Director David Burns, Chief Financial Officer 20th February 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 74% SCA 5.2% 3.5% 3.4% 6.1% 4.5% 4.7% • Group EBIT up by 62% Leisure* 2.8% 9.9% 1.5% 8.8% 6.8% 6.3% • Group Sales up by 37% Sports 8.3% 7.8% * Leisure is BCF only until 11/12 • Results continu
Slide 3: Performance Trends
Performance Trends 3 Sales ($m) EBIT ($m) For personal use only 99.8 1037 61.6 759 562 41.4 413 464 312 366 23.6 28.3 21.8 16.0 Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec 06 07 08 09 10 11 12 06 07 08 09 10 11 12 EPS (cents) * Post Tax ROC (%) 19.8 19.616.6 29.7 15.6 17.0 22.0 13.7 15.2
Slide 4: Group Results
Group Results 4 2012/13 Change For personal use only • December 2012 result includes full 26 week contribution from Rebel/Amart (pcp 9 weeks) $m on pcp • Solid sales growth in both Auto and Leisure through both new store and LFL growth Sales 1,036.8 36.6% • PCP Group NPAT impacted by $10.3m transact
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 400.2 41.0 370.6 36.7 Leisure Retailing 283.9 26.6 247.1 23.6 Sports Retailing 352.4 36.1 141.5 15.0 Group Costs* 0.3 (3.9) 0.0 (13.7) Total Group 1,036.8 99.8 759.2 61.6 • Group sales 2012/13
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 400.2 8.0% • Strong sales from new stores and increased momentum in LFL sales growth at 5.2% growth in PCP. LFL sales growth 5.2% • 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 • 12 new BCF stores and 2 new Ray’s Outdoors stores Sales 283.9 14.9% opened during the half to bring total stores t
Slide 8: Sports Retailing
Sports Retailing 8 • Sports Retailing result includes 26 weeks of 2012/13 change on For personal use only Rebel/Amart, prior period included 9 weeks. Due pcp to sales seasonality care should be taken in $m interpreting reported comparisons to PCP. Sales 352.4 149% • Cycles now included in Sports Ret
Slide 9: Group Cash Flow
Group Cash Flow 9 Dec 12 Dec 11 For personal use only • Headline operating cash flow impacted by 29th December balance date. Estimated $75m of $m $m cash benefit. Operating cash flow 226.6 106.8 • Underlying operating cash flow conversion representing 110% of EBITDA. (pre store set up investment) St
Slide 10: Group Balance Sheet
Group Balance Sheet 10 Dec 12 Jun 12 For personal use only • Inventory growth from new stores and $m $m merchandise planning for Xmas period – strong funding from creditors • SCA average inventory per store is 2% higher Inventory than PCP - Auto Retailing 166.5 158.2 • Leisure average inventory per
Slide 11: Returns & Capital Ratios
Returns & Capital Ratios 11 For personal use only 2013 2012 • Improvement in EPS ratio reflect the improved profit performance EPS – reported 29.7c 22.0c • All cover ratios are well within covenanted levels Fixed charge cover 2.04x 2.14x • Average net debt increase as a result of the Rebel acquisiti
Slide 12: Strategic Themes
Strategic Themes 12 \ For personal use only UNDERSTANDING AND ENGAGING OUR CUSTOMERS RANGE, BRAND AND SUPPLY CHAIN AND SERVICE INVENTORY DEVELOPMENT INTEGRATED MANAGEMENT MULTI – CHANNEL ATTRACTING AND EFFICIENT AND ENGAGING OUR EFFECTIVE TEAM MEMBERS ORGANISATION
Slide 13: Range, Brand and Service Development
Range, Brand and Service Development 13 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 14: Integrated Multi Channel Capabilities
Integrated Multi Channel Capabilities 14 For personal use only Understanding and Engaging Customers Supply Chain & Inventory Management Capabilities developed in 12/13: Capabilities developed in 12/13: • SCA Club Plus launched in Australia • JDA pilot underway in BCF Fishing category • Targeted prom
Slide 15: Supporting Capabilities
Supporting Capabilities 15 For personal use only Efficient and Effective Organisation Attracting and Engaging Team Members Capabilities developed in 12/13: Current Performance: • Re-engineered sales and operational planning •Attraction tracking ahead of internal targets •Retention in line with inter
Slide 16: Looking Forward
Looking Forward 16 For personal use only Auto Retailing • LFL sales growth in the first 7 weeks of 2nd half 12/13 circa 5.5% • SCA store development : plan to open 1 new store, close 1 store, 10 refurbishments (including 4 super stores) and launch 2 ‘store of the future’ pilot stores during 2nd half