Currys Plc · LSE:CURY
Currys — Dixons Retail — FY2014 Earnings Presentation
14 slides from Currys's earnings presentation, Jun 26, 2014
Slide 1: Full Year Results
Full Year Results Financial year to 30 April 2014 26 June 2014
Slide 2: A year of strong performance...
A year of strong performance... • Group underlying total sales and like-for-like sales up 3% • Online sales up 16% now at £1bn of sales • Disposed of all non-core operations • Group is a market leader in all its core markets • Actions taken have delivered a 76% increase in reported profits • Underly
Slide 3: ...with good progress across all businesses
...with good progress across all businesses • Further strong progress in the UK & Ireland • Underlying profits up 24% • Strong market share gains, particularly in white goods • Elkjøp delivered another strong year • Record performance with sales of £2.8bn • Second year of 4.2% return on sales • Gree
Slide 4: The Group is in a strong financial position
The Group is in a strong financial position £ Million 280 4.2% 116.9 10.5 19.2 230 25.4 202.8 180 36.6 3.4% 166.2 130 141.0 80 30 -20 Financial year to 30 April 2014 vs Financial year to 30 April 2013 For definitions see appendix 4 26 June 2014 Full Year Results 2013/14
Slide 5: Another year of healthy cash generation
Another year of healthy cash generation £ Million 400 350 12.1 41.3 79.7 300 116.4 250 49.0 200 6.8 200.5 59.0 150 166.2 100 50 0 Financial year to 30 April 2014 vs Financial year to 30 April 2013 For definitions see appendix 5 26 June 2014 Full Year Results 2013/14
Slide 6: Net funds improved in spite of disposals of non-core businesses
Net funds improved in spite of disposals of non-core businesses £ Million 300 250 4.9 20.0 200 150 200.5 156.6 100 50 70.9 42.1 0 Financial year to 30 April 2014 vs Financial year to 30 April 2013 For definitions see appendix 6 26 June 2014 Full Year Results 2013/14
Slide 7: Summary on Preliminary Results
Summary on Preliminary Results • Focused the Group on markets where we are leader • Another year of strong profit growth • Return on capital employed increased to 16.3% • £45 million cost reductions • Further reductions coming with proposed merger • Strong cash generation Financial year to 30 April
Slide 8: Dixons Carphone - Expected timetable
Dixons Carphone - Expected timetable • Recommended all-share merger • Implemented by way of scheme of arrangement • EU competition approval received • Conditional upon Dixons and Carphone shareholder approval • Conditional upon sanction of the scheme by the Court Scheme / Prospectus documentation ex
Slide 9: Dixons Carphone – Clear strategic rationale
Dixons Carphone – Clear strategic rationale • Embarking from a position of strength • Synergies of at least £80m1 • Access to new product categories • Opportunities for end-to-end services and support • Transactional to long term relationships • Leverage core retail skills for new customers • Carpho
Slide 10: Appendices
Appendices 10 26 June 2014 Full Year Results 2013/14
Slide 11: Appendices
Appendices 1. Group LFL Sales Trends 2. Group Store Numbers and Space Trends 3. Notes, definitions & cautionary statement 11 26 June 2014 Full Year Results 2013/14
Slide 12: 1. Group Like for Like Sales Trend
1. Group Like for Like Sales Trend 13/14 13/14 13/14 12/13 12/13 12/13 11/12 FY H2 H1 FY H2 H1 FY UK & Ireland 5% 1% 9% 7% 10% 4% (4%) Nordics 2% 1% 4% 12% 13% 10% 5% Greece (9%) (3%) (14%) 1% 0% 2% (13%) Total Group (Underlying) 3% 1% 6% 9% 11% 6% (1%) 12 26 June 2014 Full Year Results 2013/14
Slide 13: 2. Group - Stores & Space Total
2. Group - Stores & Space Total Store numbers 13/14 13/14 12/13 12/13 11/12 FY H1 FY H1 FY UK & Ireland 524 527 552 560 596 Nordics 294 295 294 290 289 Greece 99 98 97 97 98 Total Group 917 920 943 947 983 Space 000 sq ft 13/14 13/14 12/13 12/13 11/12 FY H1 FY H1 FY UK & Ireland 7,480 7,513 7,755 7,
Slide 14: 3. Notes, Definitions & Cautionary statement
3. Notes, Definitions & Cautionary statement 1. Underlying results are defined as excluding trading results from businesses exited, amortisation of acquired intangibles, net restructuring and business impairment charges and other one off non-recurring items, profits / (losses) on sale of investments