Lovisa Holdings Ltd. · ASX:LOV
Lovisa — Shareholder Meeting (October 2017)
14 slides from Lovisa's shareholder meeting presentation, Oct 31, 2017
Slide 1: 2017 Annual General Meeting
For personal use only 2017 ANNUAL GENERAL MEETING 1
Slide 2: Welcome to the Annual General Meeting of Lovisa Holdings Limited
ANNUAL GENERAL MEETING For personal use only We l c o m e t o t h e Annual General Meeting of Lovisa Holdings Limited Michael Kay N o n E xe c u t i v e Independent Chairman
Slide 3: FY2017 Snapshot Highlights
F Y 2FY2017 0 1 7 S N HIGHLIGHTS APSHOT EBIT up 68% $29.0M For personal use only $40.7M NPAT up 75% Like for Like Sales Revenue up 16.5% +10.3% $178.7M Total Stores Final Dividend 288 7.6 CPS Net increase of 38 stores Fully Franked
Slide 4: Chief Executive Officer Steve Doyle
ANNUAL GENERAL MEETING For personal use only C h i e f E xe c u t i v e Officer Steve Doyle
Slide 5: FY 2017 Financial Overview
FY 2017 FINANCIAL OVERVIEW S T R O N G L I F T IN E A R N I N G S F O L L O W I N G I N C R E A S E I N L F L S A L E S A N D M A R G I N For personal use only • EBIT of $40.7m, up 68% on prior year • Revenue up 16.5% with comparable sales up 10.3% for the year • Gross profit of $140.8m up 24%, deli
Slide 6: FY17 Trading Performance Sales
FY17 TRADING PERFORMANCE SALES C o m p a r a b l e s a l e s u p 10.3% $178.7m 180 For personal use only $153.5m 160 $134.3m 140 120 $105.7m 100 105.7m 80 60 40 20 FY14 FY15 FY16 FY17 • Total Global Sales up 16.5% to $178.7m • Comparable sales up 10.3% driven by retail price increases and the benefi
Slide 7: FY17 Trading Performance Gross Margin
FY17 TRADING PERFORMANCE G R O S S MARGIN GROSS MARGIN INCREASED TO 78.8% For personal use only • Gross profit increased 24% to $140.8m Gross Margin at Constant Currency* FY17 FY17 FY16 • Gross Margin was 78.8% up from 74.0% in the Currency USD 0.72 0.74 0.74 prior year Sales 178,746 178,746 153,461
Slide 8: Balance Sheet and Cashflow
BALANCE SHEET AND CASHFLOW STRONG BALANCE SHEET AND CASH FLOW WITH FI NANCE FACI LI TI ES I NCREASED For personal use only • Strong cash flow, with cash conversion 109% (A$’000s) FY17 FY16 Net Cash 11,039 4,729 Receivables 3,615 2,293 • Debt repaid, with net cash of $11.0m at year Inventories 13,127
Slide 9: Managing Director Shane Fallscheer
ANNUAL GENERAL MEETING For personal use only Managing Director S h a n e Fa l l s c h e e r
Slide 10: FY17 Store Growth
FY17 STORE GROWTH I N T E R N AT I O N A L R O L LO U T C O N T I N U E S W I T H A N E T I N C R E A S E O F 3 8 STORES IN FY17 For personal use only • Number of international stores growing with Store number growth offshore territories now 50% of the network Estimated • Net increase of 38 stores t
Slide 11: Disciplined Growth
DISCIPLINED GROWTH D I L I G E N T A P P R O A C H TO E X PA N S I O N PROGRAM, WITH SCALABLE SUPPORT MODEL For personal use only • Continued careful approach to opening in new territories • Global Property team in place and we continue to be diligent in ensuring store locations and rent economics m
Slide 12: Summary
SUMMARY • EBIT of $40.7m with a gross margin of 78.8% For personal use only • Comparable store sales growth of 10.3% • Strong lift in margin following price increases and reduced mark downs • CODB well managed as network grows • NPAT of $29.0m up 75% on prior year • Tight stock and cost control with
Slide 13: Trading Update
TRADING UPDATE • Pleasing start to the year with the same store sales growth year to date continuing to be slightly above our long term target of For personal use only between 3% and 5%, however we are mindful that over the next few months we continue to cycle some particularly successful ranges as
Slide 14: Forward-looking statements disclaimer
Some of the information contained in this presentation For personal use only contains “forward-looking statements” which may not directly or exclusively relate to historical facts. These forward-looking statements reflect the current intentions, plans, expectations, assumptions and beliefs about fut