Fj Benjamin Holdings Ltd. · SGX:F10
Fj Benjamin — 3Q FY2014 Earnings Presentation
12 slides from Fj Benjamin's earnings presentation, May 9, 2014
Slide 1: Enlarged retail footprint fuels 32% growth in turnover
Enlarged retail footprint fuels 32% growth in turnover NASH BENJAMIN Chief Executive Officer F J Benjamin Holdings Ltd 3Q FY 2014 FINANCIAL RESULTS 9 May 2014
Slide 2: Financial Highlights
Financial Highlights S$'000 3Q 14 3Q 13 Variance % Turnover 90,326 92,550 (2,224) -2 Gross margin 39% 44% (5) - Operating expenses 43,550 41,593 1,957 5 Operating profit (4,720) 1,060 (5,780) nm Foreign exchange gain 326 985 (659) -67 Net (Loss) / Profit After Tax (4,971) 332 (5,303) nm 2
Slide 3: Highlights
Highlights ASD 1. Turnover down 2% to $90.3 million 2. Net Loss of $5.0 million 3. Gross Margin declines to 39% from 44% 3
Slide 4: 3Q Turnover
3Q Turnover Turnover & Gross Margin S$ ‘000 1. Group turnover down 2% to $90.3 million from $92.6 million in 3Q 2013 43% 43% 46% 44% 39% • Sales hurt by aggressive industry-wide Gross Margins discounting, escalating rentals and manpower shortages in Singapore, curbs on luxury spending in North Asia
Slide 5: Turnover By Business Segment
Turnover ($’000) 3Q 2013 3Q 2014 207 142 0% 0% 26,085 23,157 28% 26% 66,258 72% 67,027 74% Fashion Timepiece Others By Business Segment 5
Slide 6: Turnover By Geography
Turnover ($’000) 3Q 2013 3Q 2014 2,908 2,631 13,509 3% 10,379 3% 15% 11% 76,133 82% 77,316 86% Southeast Asia North Asia Italy/UK/USA By Geography 6
Slide 7: 3Q Net Loss
3Q Net Loss Net Profit /(Loss) After Tax S$ ‘000 3. Net Loss of $5.0 million • Operating loss of $4.7m 3,502 3,029 3,226 • Foreign exchange gain 67% lower to $326,000 • Operating expenses up $2m to $43.6m: • Higher staff costs • Higher rental costs for premises 332 • Cost-to-Revenue ratio rises to 4
Slide 8: Brands
Brands Fashion • The first freestanding TOM FORD store in Singapore opens in The Shoppes at Marina Bay Sands on 29 April 2014 • Second Celine and Givenchy boutiques in Singapore open at The Shoppes at Marina Bay Sands • First Loewe store to open in KL by the end of June • Third Superdry store will o
Slide 9: Retail Footprint
Retail Footprint TOTAL SQUARE FOOTAGE NUMBER OF STORES 250 440 416 200 373 150 100 50 0 FY11 FY 12 FY13 FY14* FY11 FY 12 FY13 FY14* Australia 1 0 0 0 Hong Kong 3 5 4 1 Indonesia 75 95 106 110 Malaysia 55 65 67 73 Singapore 32 28 35 40 Total 166 193 212 224 FY 12 FY13 FY14* 9 * Projected figures
Slide 10: Outlook
AH BENJAMIN Outlook
Slide 11: Outlook
Outlook Outlook ASD**The • Singapore retail outlook to remain challenging amid falling sales and rising costs • China’s slower economic growth and policy curbs on luxury spending to continue to hurt timepiece business in North Asia Brands • New brands including Tom Ford, Goyard, Valextra and Superdr
Slide 12: Contact
Contact Cheryl Li Catherine Ong F J Benjamin Holdings Ltd Catherine Ong Associates Pte Ltd Tel: (65) 6508 7708 Tel: (65) 6327 6088 Cheryl.li@fjbenjamin.com cath@catherineong.com
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