Accent Group Ltd · ASX:AX1
Accent — Shareholder Meeting (November 2021)
25 slides from Accent's shareholder meeting presentation, Nov 19, 2021
Slide 1: 2021 Annual General Meeting
2021 ANNUAL GENERAL MEETING 2020 ANNUAL Accent Group FY2021 AGM Presentation GENERAL MEETING 1
Slide 2: Online attendees – TEXT question process
Online attendees – TEXT question process 123-456-789 When the question function is available, the messaging tab will appear at the top of the screen To submit a question, type your question in the “Ask a question” box and press the send arrow Your question will be sent immediately for review Receive
Slide 3: Online attendees – AUDIO question process
Online attendees – AUDIO question process 123-456-789 When the audio questions line is available, a link will appear on the home tab titled Asking Audio Questions If you would like to ask an audio question, pause the meeting broadcast and click on the link You will be prompted to enter your name and
Slide 4: ONLINE attendees – VOTING process
ONLINE attendees – VOTING process 123-456-789 When open, the vote will be accessible by selecting the voting tab at the top of the screen To vote simply select the direction in which you would like to cast your vote. The selected option will change colour For Against Abstain There is no submit or se
Slide 5: The Board
The Board David Gordon Daniel Agostinelli Chairman Group CEO Accent Group FY2021 AGM Presentation 5 1
Slide 6: The Board
The Board Brett Blundy Donna Player Joshua Lowcock Michael Hapgood Stephen Goddard Accent Group FY2021 AGM Presentation 6 1
Slide 7: Other attendees
Other attendees Matthew Durbin – Alethea Lee – David White – Group CFOO & Group General Counsel Partner, Deloitte Joint Company & Secretary Joint Company Secretary Accent Group FY2021 AGM Presentation 7 1
Slide 8: Agenda
Agenda Item Welcome and Introduction Chairman’s report CEO report Trading update Formal business Accent Group FY2021 AGM Presentation 8 1
Slide 9: Chairman’s review
Chairman’s review This has been ANOTHER year like no other! Accent Group FY2021 AGM Presentation 9 3
Slide 10: FY21 financial performance
FY21 financial performance1 $’000’s FY21 FY20(2) % Change EBITDA 242,015 202,871 +19.3% Group Sales (inc. Franchisees) 1,138,239 948,935 +19.9% EBIT 124,905 94,537 +32.1% PBT 110,999 80,092 +38.6% NPAT 76,923 55,517 +38.6% Digital Growth 48.5% 68.9% Vertical Owned Brand Sales 25,647 12,621 +103.2% E
Slide 11: Shareholder value creation
Shareholder value creation Total Shareholder Return (1) comparison Accent and ASX200 (30 June 2010 to 25 June 2021(2)) 1281.6% 1,400% Total Shareholder Return since 30 June 2010: Accent Group: 27.0% (Annualised Return) ASX200 Index: 11.0% (Annualised Return) 1,000% 600% 215.0% 200% (200.0%) 2010 201
Slide 12: Sustainability update
Sustainability update Team Ethical Sourcing Partnership with Engagement Policy Aust Sporting Goods Accent Group FY2021 AGM Presentation 12
Slide 13: Stamp Your Feet – Our Foundation
Stamp Your Feet – Our Foundation Accent Group FY2021 AGM Presentation 13
Slide 14: Daniel Agostinelli - Group CEO
VIP Virtual Vertical Daniel Agostinelli - Group CEO Accent Group FY2021 AGM Presentation 14 1
Slide 15: Operational highlights – another year of record profits
Operational highlights – another year of record profits Record Sales VIP & Loyalty Over $1.1b 8.4 million Contactable customers First time to achieve over $1b in sales Additional 1.6m contactable customers in FY21 New Stores Vertical Owned Brands 90 $25.6m new stores opened sales All new stores trad
Slide 16: Strong growth in digital sales continues
Strong growth in digital sales continues Digital Sales Growth • Strong results delivered across all digital FY19 FY20 FY21 FY22 KPIs for FY21 • Growth in digital sales continued in the period July 2021 to September 2021, with sales up 64.7% on prior year and representing c46% of retail sales • Conve
Slide 17: Virtual & VIP
Virtual & VIP Virtual: • $6.3m in virtual sales FY21, run rate of over $100k per week in FY21. Virtual sales program was launched in April 2020 • Dedicated virtual sales hubs launched in the Melbourne and Sydney support offices • ~40,000 orders transacted through the virtual sales channel Accent Gro
Slide 18: Vertical
Vertical • $25.6m of sales in FY21, up 103.2% Vertical and Owned Brands Sales on prior year ($12.6m) • Vertical program momentum accelerates • 10 owned vertical brands Shoe-care, Accessories socks and accessories • Acceleration into owned apparel through Stylerunner, Exie and Glue Brands • 4 EXIE st
Slide 19: Store growth
Store growth • New store openings ahead of schedule – 63 stores opened to the end of October • Now expect to open more than 120 new stores including new concepts in FY2022 • Potential closure of up to 10 stores where sustainable forward rents cannot be agreed • Strong performance from new stores con
Slide 20: StyleRunner
StyleRunner • 14 stores trading as of 19 November 2021 • Significant focus and growth on developing StyleRunner The Label • Significant focus on margin growth through vertical owned brands (StyleRunner The Label, EXIE and Nude Lucy) and other key brand partners • Store opening program ramping up. At
Slide 21: Glue
Glue • Significant margin improvement initiatives underway, leveraging Accent’s capabilities • Glue Chadstone and Highpoint, new world class store concepts, opened in early November 2021. Further 3 stores to open by December 2021 • Grow to a network of at least 60 stores by December 2023 • Continue
Slide 22: New and updated distribution agreements
New and updated distribution agreements • Accent distribution agreements: • Skechers agreement extended to December 2032, Timberland and CAT footwear agreements extended to December 2024 and Saucony extended to December 2026. CAT apparel extension agreed in principle until December 2024. • Glue & Ne
Slide 23: Reebok distribution agreement
Reebok distribution agreement • New distribution agreement for Reebok signed with Authentic Brands Group, from March 2022 to December 2032 • Reebok is an iconic global brand with deep ties to professional sports and pop culture • Planned growth in existing sports oriented wholesale accounts, direct
Slide 24: Trading update
Trading update • Trade in the first 18 weeks was significantly impacted by the state and territory-wide government mandated store closures in New South Wales (NSW), Victoria (VIC), the Australian Capital Territory and periodically other regions throughout this period. More than 400 stores were close
Slide 25: Notice and disclaimer
Notice and disclaimer This presentation contains general background information about Accent Group’s current activities and provides additional comment on, and should be read in conjunction with, the FY21 Annual Report and accompanying information released to the market on 18 August 2021. The inform