Accent Group Ltd · ASX:AX1
Accent — Investor Presentation (February 2018)
22 slides from Accent's investor presentation, Feb 23, 2018
Slide 1: Accent Group Limited FY2018 half-year results presentation
Accent Group Limited FY2018 half-year results presentation 1
Slide 2: Table of contents
Table of contents Item Page About Accent Group 3 Financial year highlights 4 H1 FY18 Summary financial performance 5 Earnings and dividends per share 6 Retail Update 7 Omni-Channel 9 Wholesale Update 11 Corporate matters 13 Dividends, Trading update, Guidance 17 Appendix 19 Accent Group Limited FY20
Slide 3: About Accent Group Limited
About Accent Group Limited Accent Group Limited (AX1) is a regional leader in the retail and distribution sectors of performance and lifestyle footwear, with over 445 stores across 10 different retail banners and exclusive distribution rights for 10 international brands across Australia and New Zeal
Slide 4: Half-year highlights
Half-year highlights(a,b) Underlying EBITDA Underlying NPAT Underlying EPS 17% 13% 12% $50.0m $26.3m 4.94c H1 FY18 Dividend Cashflow From Ops 3.0 cents $31.1m Underlying Sales Total number of stores Digital sales growth 17% +15 170% $350m 445 stores a) Unless otherwise stated all 1H18 results and re
Slide 5: H1 FY18 summary financial performance
H1 FY18 summary financial performance Financial Summary Operating Highlights Pro- ▪ Total sales of $350.3m, up 17%(a) on an underlying Half-year to forma(a) - basis, reported sales up 21% driven by; Underlying Profit & Loss ($000's) 31st Dec Half-year to Var LY ▪ Continued online sales growth of 170
Slide 6: Earnings and dividends per share
Earnings and dividends per share Half-year to Half-year to $000's 31st Dec 2017 25 Dec 2016 % Change Underlying Diluted Earnings Per Share Underlying Net Profit After Tax (a) 26,305 23,289 13.0% Less non-controlling interests 39 -11 NPAT used in the calculation of underlying EPS 26,344 23,278 13.2%
Slide 7: Retail Update
SKECHERS Retail Update a PLATYPUS
Slide 8: Retail Performance
Retail Performance Key Financial Highlights Commentary Retail sales LFL sales ▪ LFL retail sales of 1%(a) across all banners on an aggregate basis ▪ Total digital sales grew by 170% on top of the 100% growth achieved 21% in FY17 1%(a) ▪ Strong performance in Platypus, Skechers and Vans with $295.1m
Slide 9: Omni-Channel
Omni-Channel
Slide 10: Omni-channel
Omni-channel The Accent Group offers customers a market leading omnichannel experience with over 400 physical points of presence throughout Australia and New Zealand and an integrated eCommerce capability across its TAF, Platypus, Hype, Skechers, Vans, Merrell, Saucony and CAT brands. ▪ Total digita
Slide 11: Wholesale Update
Wholesale Update
Slide 12: Wholesale Performance
Wholesale Performance Key Financial Highlights Commentary Wholesale Wholesale ▪ Wholesale sales were in line with expectations for the half. Accent sales continues to drive the growth of its exclusive brands through its Gross Profit 2.5% vertical channels and key retail partners ▪ Wholesale margin i
Slide 13: Corporate Matters
Corporate Matters: Vision &Guiding principles Core Value proposition Management & Board changes
Slide 14: Our Vision and Guiding Principles
Our Vision and Guiding Principles Strategic Vision To lead the performance and lifestyle footwear market across Australia and New Zealand, by delivering world-class consumer experiences, harnessing the power of our people, partnerships and products Key Guiding Principles Shareholder Company Delivery
Slide 15: Our Core Value Proposition
Our Core Value Proposition Ensuring our business remains distinctive, desirable and defensible Defend and grow our position Best-of-breed retail through Approximately 40% of retail as the leading player in premium store fitouts, visual sales from vertical and performance and lifestyle merchandising
Slide 16: Corporate Matters
Corporate Matters ▪ After more than 11 years with the company and having completed the successful acquisition and integration of the Accent and Hype businesses Hilton Brett, Co-CEO, announced his retirement from the company effective from 31 march 2018 ▪ During his tenure, the business achieved 22%
Slide 17: Dividends, Trading update, Outlook
Dividends Trading update Outlook Accent Group Limited FY2018 half-year results presentation 17
Slide 18: Trading update and FY18 outlook
Trading update and FY18 outlook ▪ Accent Group has declared a fully franked interim dividend of 3.0 cents per share, payable on 22 March 2018 to shareholders registered on 2 March 2018 DIVIDENDS ▪ Accent Group expects its dividend payout ratio to be between 75% and 80% of underlying earnings per sha
Slide 19: Appendix
Appendix Accent Group Limited FY2018 half-year results presentation 19
Slide 20: Appendix
Appendix Half-year to Half-year to $000's % Change 31st Dec 2017 25 Dec 2016 Underlying Consolidated EBITDA 49,996 42,903 16.5% Less: Hype DC EBITDA prior to Completion (1/7/16 - 3/8/16) -1,598 Less: Cost of Executive Performance Rights issued in October 17 -327 Reported EBITDA 49,669 41,305 20.2% R
Slide 21: Store network and distribution agreements
Store network and distribution agreements Timber Store Network (a) TAF Platypus Skechers Vans Podium Merrell Hype Other Total land Stores at end of FY17 146 91 67 17 7 9 21 65 7 430 FY2018 YTD movement 2 5 11 1 (1) (3) 15 Current store count 148 96 78 17 8 9 21 64 4 445 Fct Δ for remainder of FY18 (
Slide 22: Appendix
Appendix This presentation contains summary information about the Accent Group Limited which is current as at the date of this presentation. This presentation contains certain forward-looking statements, including indications of, and guidance on, future earnings and financial position and performanc