Piquadro S.p.a · MIL:PQ
Piquadro — H1 2015-16 Earnings Presentation
39 slides from Piquadro's earnings presentation, November 2015
Slide 1: Piquadro – November 2015 H1 results 2015-2016
LINEA BUSINESS PIQUADRO November 2015 – H1 results 2015-2016
Slide 2: Piquadro: Italian brand of tech-design accessories
LINEA BUSINESS PIQUADRO Italian Brand of Accessories tech- design for business travelers. Piquadro_
Slide 3: Piquadro in Numbers
LINEA BUSINESS PIQUADRO IN NUMBERS FY 2014-15 • € 67.2 million consolidated turnover (+6.6%) • € 4.08 million consolidated net profit (+16.2%) • € 7 million free cash flow • 103 free standing store worldwide (57 Ita, 46 abroad) • 36% generated by DOS H1 of FY 2015-16 • € 33.2 million consolidated tu
Slide 4: The Milestones
LINEA BUSINESS THE MILESTONES in € million Launch of the Opening of the Private equity First stores New First Social Listing in Milan First Opening Milan Opening Paris, PIQUADRO first store fund acquires abroad headquarters responsibility collaboration Stock Exchange showroom London and brand shares
Slide 5: Brand Values
LINEA BUSINESS BRAND VALUES 1. INNOVATIVE DESIGN 2. ITALIAN STYLE 3. TECNOLOGY 4. COLOR Piquadro_ The brand dna
Slide 6: Piquadro Core Consumers
LINEA BUSINESS PIQUADRO CORE CONSUMERS • Young professionals men (60%) and women (40%) • Medium-upper social classes • Well educated • Design forward mindset • ‘Citizens of the world’ • Always ‘on the go’: commuters, frequent flyers • Tech savvy • Rational: value for money Piquadro_
Slide 7: Products Strategy: On-going Collection
LINEA BUSINESS PRODUCTS STRATEGY: ON-GOING COLLECTION Piquadro_
Slide 8: Products Strategy: Seasonal Collection
LINEA BUSINESS PRODUCTS STRATEGY: SEASONAL COLLECTION Piquadro_
Slide 9: Products Strategy: Focus on Travel
PRODUCTS STRATEGY: LINEA BUSINESS FOCUS ON TRAVEL Piquadro_
Slide 10: New Product Strategy Sport Iconic
LINEA BUSINESS NEW PRODUCT STRATEGY MODUS LINK SIGNO 2 WASSILY AKI SARTORIA COLEOS BLUESQUARE VIBE PULSE SEASONAL SEASONAL SPORT ICONIC CHIC Piquadro_
Slide 11: New Product Strategy: Travel Offer
LINEA BUSINESS NEW PRODUCT STRATEGY A NEW APPROACH TO THE TRAVEL OFFER Sales of the travel items: +17% 2014 6.2% of total sales 2015 6.8% of total sales Piquadro_
Slide 12: New Product Strategy: Backpacks
LINEA BUSINESS NEW PRODUCT STRATEGY LEVERAGE ON THE NEW TREND OF BACKPACKS Sales of backpacks: +64% 2014 6.4% of total sales 2015 9.8% of total sales Piquadro_
Slide 13: New Product Strategy: The Reshoring Policy
LINEA BUSINESS NEW PRODUCT STRATEGY THE RESHORING POLICY Piquadro is boosting its Made in Italy offer with the launch of a new series which will be in store starting February 2015. The new Made in Italy series is a seasonal line with a price positioning aligned with that of the other Piquadro leathe
Slide 14: New Communication Strategy: Become Digital and Social
LINEA BUSINESS NEW COMMUNICATION STRATEGY: BECOME DIGITAL AND SOCIAL New web site piquadro.com from May 2015 - responsive technology - advanced search engine - multicurrency catalogue Sessions > +11,14% (2.692.862 vs 2.422.902*) Users > +19,72% (1.493.398 vs 1.247.362*) Increasing investments on int
Slide 15: New Communication Strategy: Become Digital and Social
NEW COMMUNICATION STRATEGY: BECOME DIGITAL AND SOCIAL Global Page started in May 2015 Likes: + 266% in the last 4 months (from 15k to 55k fan) Store locator started in July 2015 Advertising campaigns started in May 2015 Remarketing facebook started in September Piquadro_
Slide 16: New Communication Strategy: Become Digital and Social
NEW COMMUNICATION STRATEGY: BECOME DIGITAL AND SOCIAL Followers of the official page: 7,836 Total followers worldwhide: 25K + 1370% in the last 4 months (from 1,712) Piquadro_
Slide 17: New Communication Strategy: Become Digital and Social
NEW COMMUNICATION STRATEGY: BECOME DIGITAL AND SOCIAL Followers: + 100% in the last 4 months (from 897 to 1881) Verified by Twitter since May 2015 Piquadro_
Slide 18: Glamourous Events
GLAMOUROUS EVENTS Piquadro continues its strategy to contribute glamourous contents to the brand soul. The collections are presented during the Milan Men’s Fashion Week. In June 2015: fashion show/performance at Borsa Italiana. Marco Palmieri and Franca Sozzani Piquadro_ Franca Sozzani e Marco Palmi
Slide 19: Recent Openings
LINEA BUSINESS RECENT OPENINGS New York Kuala Lumpur Teheran Paris London Piquadro_
Slide 20: Corners & Shop-in-Shops
LINEA BUSINESS CORNERS & SHOP-IN-SHOPS LONDON VIENNA TAIPEI MUNICH Piquadro_
Slide 21: Geographic (Retail & Wholesale) 2014-15
LINEA BUSINESS GEOGRAPHIC (Retail & Wholesale) WHAT WAS ACHIEVED IN 2014-15 Italy: +11.8 % vs LY European markets: -7.6 % vs LY +17% net of Russia+Ukraine RoW markets: -4.9 % vs LY -14 shops due to new distribution strategy Piquadro_ MKT updates Milan, via Spiga
Slide 22: Retail 2014-15
LINEA BUSINESS RETAIL WHAT WAS ACHIEVED IN 2014-15 DOS channel +6.6 % vs LY 14 closures and 8 new openings which accounts net - 3.8% vs. last year DOS SSSG +2.9 % (+2.0% ex forex) E-commerce +42.6% (US and Russia just opened) Piquadro_ MKT updates London, Regent street
Slide 23: Wholesale 2014-15
LINEA BUSINESS WHOLESALE WHAT WAS ACHIEVED IN 2014-15 Wholesale channel: 6.6 % vs LY ITALY: +11.7 % EUROPE: +15.9% net of Russia and Ukraine (-16.1% including Russia and Ukraine) driven by Germany (+8.1%) and Spain (9.7%) ROW: +62.4% driven by Far East and Emirates Piquadro_ MKT updates New
Slide 24: Geographic (Retail & Wholesale) H1 15-16
LINEA BUSINESS GEOGRAPHIC (Retail & Wholesale) WHAT WAS ACHIEVED IN H1 2015-16 Italy: + 6.6 % vs LY Europe: - 14.6 % vs LY -5.0% net of Russia RoW: + 5.8% vs LY -12 net shops due to new distribution strategy in Asia (contribution of new markets as Iran and Mexico) Piquadro_ Firenze, via Calima
Slide 25: Retail H1 2015-16
LINEA BUSINESS RETAIL WHAT WAS ACHIEVED IN H1 2015-16 DOS channel +0.0 % vs LY 16 closures (12 only in Asia) and 6 new openings which accounts net -5% vs. last year DOS SSSG +7.5 % (+5.6% ex forex) E-commerce +27.3% Piquadro_ MKT updates Forte dei Marmi, via Mazzini
Slide 26: Wholesale H1 2015-16
LINEA BUSINESS WHOLESALE WHAT WAS ACHIEVED IN H1 2015-16 Wholesale channel: +3.9 % vs LY DOMESTIC +6.5% EXPORT -4.6% (+10.2% net of Russia) mainly driven by Far East and new markets. Piquadro_ MKT updates Teheran, Sam Center
Slide 27: International Coverage: Italy
INTERNATIONAL COVERAGE : ITALY Piquadro_
Slide 28: International Coverage: Spain
INTERNATIONAL COVERAGE : SPAIN Piquadro_
Slide 29: International Coverage: UK
INTERNATIONAL COVERAGE : UK Piquadro_
Slide 30: International Coverage: France
INTERNATIONAL COVERAGE : FRANCE Piquadro_
Slide 31: Financial Data
LINEA BUSINESS FINANCIAL DATA Piquadro_ 31
Slide 32: Turnover and Profits since 1998
TURNOVER AND PROFITS SINCE 1998 Piquadro_
Slide 33: Income Statement
INCOME STATEMENT FY Ending March 31 (€m) 2013A 2014A 2015A Net Sales 56.3 63.1 67.2 % growth -12,7% +12.1% +6.6% Other revenues 0.7 0.8 0.9 Material costs (9.8) (9.2) (12.5) Service costs (26.0) (31.2) (31.8) Personnel costs (12.5) (13.9) (14.3) Other operating expenses (0.7) (0.7) (0.7) EBITDA 8.0
Slide 34: Summary Balance Sheet
SUMMARY BALANCE SHEET FY Ending March 31 (€m) 2013A 2014A 2015A Net Working Capital 20.3 22.7 24.5 Net Tangible Assets 12.7 13.1 12.6 Net Intangible Assets 4.0 5.0 4.6 Net Financial Assets 2.3 2.4 2.0 Several Staff, Provisions & Others (1.5) (1.3) (1.3) Net Capital Employed 37.8 41.9 42.4 Group Shar
Slide 35: Lean Capital Structure
LEAN CAPITAL STRUCTURE NET FINANCIAL DEBT (€m) As of March 31 2013A 2014A 2015A Short-term Net Debt 8.4 8.3 10.3 Long-term Net Debt 20.6 12.9 9.4 Cash & Cash Equivalents (20.5) (11.0) (12.7) Net Debt 8.5 10.2 7.0 RATIO – Net Financial Debt (€m) As of March 31 2013A 2014A 2015A Net Debt/EBITDA 1.06 1
Slide 36: Summary P&L & BS
SUMMARY P&L & BS Six months (Ending Sept 30) (€m) 2014A 2015A Net Sales 32.3 33.2 % growth +2.6% Other revenues 0.3 0.4 Material costs (4.6) (4.9) Service costs (15.7) (16.4) Personnel costs (7.1) (7.5) Other operating expenses (0.3) (0.2) EBITDA 4.9 4.6 Six months (as Margin (% of net sales) 15,3%
Slide 37: The Investment Values
THE INVESTMENT VALUES • Net Profit generated in the last 3 years* 10.8 mln € • Dividends paid in the last 3 years equal to 4.0 mln € • Investments effected in the last 3 years* equal to 10.9 mln € • Net Debt decreased in the last 3 years* by 1.5 mln € *Based 12M March 2015,2014, 2013 Piquadro_
Slide 38: Piquadro Listed on the Milan Stock Exchange since 2007
PIQUADRO LISTED ON THE MILAN STOCK EXCHANGE SINCE 2007 Piquadro_
Slide 39: Thank You!
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