Slide 1: H1 2019 results
H1 2019 results 25 JULY 2019
Slide 2: H1 2019 key business highlights
H1 2019 key business highlights
Slide 3: Key business highlights
KEY BUSINESS HIGHLIGHTS H1 RESULTS DOESN’T COMPROMISE THE STRATEGIC FOCUS OF OUR PERFORMANCE PLAN MAJOR DEVELOPMENTs DURING THIS FIRST PART OF YEAR
Slide 4: H1-2019 financial results
H1-2019 financial results
Slide 5: Negative revenue performance mainly impacted by underpenetrated activities
NEGATIVE REVENUE PERFORMANCE MAINLY IMPACTED BY UNDERPENETRATED ACTIVITIES € -4.3% Change in M€ -3.6% Like-for-Like1 -6.0% -13 -5.3% Like-for-Like1 -4.4 -1.8% -4.5 -8.5% -4.5% Like-for-Like* -4.5 €
Slide 6: Identified and punctual causes
IDENTIFIED AND PUNCTUAL CAUSES Impact from underpenetrated From identified Punctual lack of commercial activities & punctual opportunities causes INTERNATIONAL RATIONALISATION IMPACT SRP MEDIA IMPACT IMPACT difficulties circumscribed to a few number of product categories (H1-19 vs. H1-18) wholesale
Slide 7: Resilient customer metrics sustained by loyal buyers
RESILIENT CUSTOMER METRICS SUSTAINED BY LOYAL BUYERS AVERAGE INTERNET AVERAGE ORDERS BUYERS (M) BASKET SIZE (€) REVENUES PER BUYER (€) PER BUYERS (#) -4.4% -0.3% +0.2% -0.6% H1 -5.5% +0.4% +0.4% Q2
Slide 8: Gross margin evolution
GROSS MARGIN EVOLUTION +0.5 pt H1-18 H1-19 Retreated* -5.6pts
Slide 9: Cost structure overview
COST STRUCTURE OVERVIEW1 € € -0.2PT +2.7PTS +1.9PT +0.9PT
Slide 10: Cost structure in detail
COST STRUCTURE IN DETAIL1 COST optimisation plan IN PROGRESS marketing Logistics & fulfilment G&A • • • • • € • • € • • • € • • € -1.2M€ +2.7M€ +1.6M€ -0.2%PT +1.9%PT +0.9%PT AS % OF revenues AS % OF revenues AS % OF revenues
Slide 11: EBITDA evolution
EBITDA EVOLUTION1 € € 2.8% 1.4% -8.2% 0.8% -0.2% -8.2% € -9.5% -8.3% -8.0% €
Slide 12: EBITDA evolution bridge H1-18 to H1-19
I. H1-19 FINANCIAL RESULTS EBITDA EVOLUTION Bridge EBITDA Evolution H1-18 to H1-19 In € million EBITDA HI- Exceptional Volume Cost 19 before items EBITDA EBITDA Margin impact and optimisation Log & _ exceptional (mainly non H1-19 H1-18 impact wholesale plan —_—‘Fulfilment_—_ items cash) IFRS 16 Repo
Slide 13: Cash position evolution
CASH POSITION EVOLUTION1 € € € € €
Slide 14: EBITDA conversion in cash
EBITDA CONVERSION IN CASH € € € € € -€22m € € €
Slide 15: Outlook H2-2019
Outlook H2-2019
Slide 16: Showroomprivé brand attractiveness is unharmed
SHOWROOMPRIVÉ BRAND ATTRACTIVENESS IS UNHARMED
Slide 17: Ongoing strategic developments
ONGOING STRATEGIC DEVELOPMENTS • • €
Slide 18: Sound and solid basis structured for a profitable H2
SOUND AND SOLID BASIS STRUCTURED FOR A PROFITABLE H2 STRONG SEASONALITY IN H2 STREAMLINED inventories POSITIVE IMPACT OF OPEX OPTIMISATION EFFORTS Rationalise and improve logistic capabilities Keep working in restoring gross margin
Slide 19: Appendix
APPENDIX
Slide 20: Selected key performance metrics
SELECTED KEY PERFORMANCE METRICS €
Slide 21: Profit & loss statement
IV. APPENDIX. PROFIT & LOSS STATEMENT (€ thousands) 2017 2018 % Growth H1-18 H1-19 % Growth Net revenues 654,971 672,233 2.6% 315,477 302,043 4.3% Cost of goods sold -416,003 -428,465 3.0% -205,075 -213,330 4.0% Gross margin 238,967 243,769 2.0% 110,402 88,713 -19.6% Gross margin as % of revenues 36
Slide 22: Segmental information
IV. APPENDIX SEGMENTAL INFORMATION Revenues (€ thousands) 2017 2018 & Growth H1-18 H1-19_-% Growth INTERNET REVENUES France 518,712 546,223 5.3% 253,416 248,888 1.8% International 111,169 112,302 1.0% 53,603 49,070 8.5% Total Internet revenues 629,882 658,526 45% 307,018 297,958 3.0% Other revenues
Slide 23: Cash flow statement
IV. APPENDIX. CASH FLOW STATEMENT (€ thousands) 2017 2018 H1-18 H1-19 Net income for the period -5,234 -4,355 -6,483 -41,420 Adjustments for non-cash items 11,946 5,542 1,165 10,026 Cash flow from operations before finance costs and income tax 6,712 1,187 -5318 -31,394 Elim of accrued income tax exp
Slide 24: Balance sheet
IV. APPENDIX. BALANCE SHEET (€ thousands) 2017 2018 H1-18 HI-19 NON-CURRENT ASSETS Goodwill 123,685 123,685 123,685 123,685 Other intangible assets 49,789 53,271 51,558 55,566 Tangible assets 16,606 20,762 16,899 39,742 Other non-current assets 6,906 6,813 4,529 8,695 Total non-current assets 196,99
Slide 25: Disclaimer
DISCLAIMER This presentation contains only summary information and does not purport to be comprehensive. This document may contain forward-looking information and statements about the Group and its subsidiaries. These statements include financial projections and estimates and their underlying assump
Slide 26: Thank you
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