Slide 1: 4Q20 Results Presentation
4Q20 RESULTS PRESENTATION APRIL 19, 2021
Slide 2: Disclaimer
DISCLAIMER This presentation (the "Presentation") was prepared by VRG S.A. (the achieved by the Company may differ materially from the results presented "Company") with a due care. Still, it may contain certain inconsistencies or in this document. Many of those factors are beyond the awareness and o
Slide 3: 2020 Executive Summary
01 2020 EXECUTIVE SUMMARY
Slide 4: Key 2020 Event: COVID-19
KEY 2020 EVENT: COVID-19 IMPACT OF PANDEMIC ON VRG GROUP Gradual Shopping impact of Negotiations Gradual Increasingly All of Poland Closing of Rebuilding of Beginning of malls closed Stabilising coronavirus, with shopping rebuilding faster in the red shopping demand in another lock- down, only actio
Slide 5: Growths On-line, Falls Off-line
GROWTHS ON-LINE, FALLS OFF-LINE 1 E-stores Maintaining the high pace of online growth both in the months with lock-down and opening of shopping malls. 169% 102% 2 Traditional stores 82% 59% 34% Sales in traditional stores under 21% 13% 17% 14% 44% the influence of a lock-down in -32% -8% 0% 1% 20% M
Slide 6: Network Optimisation, Growing Internet
NETWORK OPTIMISATION, GROWING INTERNET NUMBER OF STORES EOP 4Q20 YoY 149 -5 117 -9 106 +2 YoY 53.0 - 2% YoY towns ths m2 129 -11 32 +1 154 24.3% +11 pp. YoY franchise +8 YoY internet share stores 143 +4 570 - 20 6 | 4Q20 presentation
Slide 7: Strong Jewellery Segment Results in 4Q20 and 2020
STRONG JEWELLERY SEGMENT RESULTS IN 4Q20 AND 2020 APPAREL SEGMENT JEWELLERY SEGMENT success of introducing new strong on-line and off-line collections and new products sales development of the casual favorable trends in the sale offer of watches growing on-line share gold and silver jewellery in dem
Slide 8: 4Q20 Results Affected by Pandemic
4Q20 RESULTS AFFECTED BY PANDEMIC IFRS 16 IAS 17 REVENUES EBIT EBIT PLN 232.0m PLN (2.9)m PLN 10.8m -30.2% YoY 4Q19: PLN 47.6m 4Q19: PLN 47.5m GROSS PROFIT ON SALES NET PROFIT (LOSS) NET PROFIT 51.2% PLN (18.9)m PLN 7.7m -2.5 pp. YoY 4Q19: PLN 44.3m 4Q19: PLN 38.0m 8 | 4Q20 presentation
Slide 9: Impact of COVID-19 on 2020 Results
IMPACT OF COVID-19 ON 2020 RESULTS IFRS 16 IAS 17 REVENUES EBIT EBIT PLN 853.7m PLN (11.9)m PLN 0.5m -20.1% YoY 2019: PLN 87.5m 2019: PLN 87.5m GROSS PROFIT ON SALES NET PROFIT (LOSS) NET PROFIT (LOSS) 48.9% PLN (48.2)m PLN (5.3)m -3.2 pp. YoY 2019: PLN 64.0m 2019: PLN 65.9m 9 | 4Q20 presentation
Slide 10: 2020 Targets Achieved
2020 TARGETS ACHIEVED REVENUES ACHIEVEMENTS Loss of up to 25% of revenues in base case scenario -20.1% Share of internet growing from 14% to some 30% in revenues 24.3% 3% floorspace reduction -2.4% EBITDA LIQUIDITY Maintaining liquidity. EBITDA under IAS17 above zero. Lower YoY debt at the end of 20
Slide 11: Streghening of the Board
STREGHENING OF THE BOARD CURRENT MANAGEMENT OF VRG S.A. Andrzej Jaworski President of the Management Board Radosław Jakociuk Michał Zimnicki Executive Vice-President Executive Vice-President of the Management Board of the Management Board responsible for Finance Ernest Podgórski Olga Lipińska-Długos
Slide 12: Performance by Brands
Zdjecia do wymiany 02 PERFORMANCE BY BRANDS
Slide 13: Vistula Executive Summary
VISTULA EXECUTIVE SUMMARY rat | i VISTULA BYTOM WOL(ZANKA DENICLER ~=WKRUK
Slide 14: Vistula: Growing On-line Share
VISTULA: GROWING ON-LINE SHARE Vistula brand network Vistula brand floorspace fell 3% YoY at the end of 4Q20, due to 4Q19 4Q20 YoY closing down of unprofitable stores. Sales network contracted by 5 stores net YoY. Number of stores 154 149 -5 Both franchise floorspace and number of stores grew Yo
Slide 15: Vistula: Positive Store EBIT in Quarter
VISTULA: POSITIVE STORE EBIT IN QUARTER Vistula brand revenue split 14% 13% 8% 17% 12% Significant increase in the share of casual in 4Q20 with the 18% continuation of the pandemic and lower demand for formal 53% 59% clothing. 80% 69% Growing share of accessories in sales. 33% 24% Increase in
Slide 16: Vistula: Over ¼ 2020 Revenues from On-line
VISTULA: OVER ¼ 2020 REVENUES FROM ON-LINE Vistula brand revenues (PLN m) Vistula brand revenues reached PLN 196.4m in 2020, falling 31% YoY. Brand stores in shopping malls were closed for almost 3 286.4 months due to COVID-19. 196.4 43.5 Internet revenues amounted to PLN 52.1m in 2020, up 20% Y
Slide 17: Bytom Executive Summary
BYTOM SZTUKA KRAWIECTWA OD 1945 EXECUTIVE SUMMARY VISTULA BYTOM WOLCZANKA DENICLER =WKRUK
Slide 18: Bytom: High On-line Sales Growth
BYTOM: HIGH ON-LINE SALES GROWTH Bytom brand network Bytom’s network contracted YoY by 9 stores net, while number of 4Q19 4Q20 YoY franchise was stable YoY. Number of stores 126 117 -9 Brand’s floorspace fell 5% YoY. Changes in floorspace took place at incl. franchise 9 9 0 the level of franchis
Slide 19: Bytom: A Growing Share of Casual
BYTOM: A GROWING SHARE OF CASUAL Bytom brand revenue split 9% 12% 9% 10% A growing share of casual in 4Q20 revenues, in line with market 37% 44% 54% tendencies and increased interest due to remote work. 60% Dynamic growth in sales of casual collections on-line. 54% 37% 46% A growing share of a
Slide 20: Bytom: On-line Already at 30% of Sales
BYTOM: ON-LINE ALREADY AT 30% OF SALES Bytom brand retail revenues (PLN m) Bytom brand revenues reached PLN 147.1m in 2020, falling 26% YoY. Brand stores in shopping malls were closed for almost 3 198.2 months due to COVID-19 pandemic. 23.0 9.3 147.1 Internet revenues amounted to PLN 46.2m in 20
Slide 21: Wólczanka Executive Summary
ISTULA WOLCZANKA EXECUTIVE SUMMARY DENICLER = WKRUK
Slide 22: Wólczanka: An On-line Brand
WÓLCZANKA: AN ON-LINE BRAND Wólczanka brand network 4Q19 4Q20 YoY Wólczanka network contracted by 11 stores net YoY. Optimisation Number of stores 140 129 -11 affected mostly own stores – there was 1 more franchise store YoY. incl. franchise 52 53 +1 Brand’s floorspace fell 6% YoY, while franchi
Slide 23: A Growing Share of New Assortments
A GROWING SHARE OF NEW ASSORTMENTS Wólczanka brand revenue split 13% 5% 25% 35% A higher share of knitwear due to extended assortment via chinos 41% 20% 3% trousers for men and women, polo and T-shirts. 24% Fall in share of men and women shirts due to new assortment 62% 59% 65% groups and impact
Slide 24: Highest Share of On-line
HIGHEST SHARE OF ON-LINE Wólczanka brand revenues (PLN m) Wólczanka brand revenues reached PLN 99.2m in 2020, falling 125.9 21.1% YoY. Brand stores in shopping malls were closed for almost 3 99.2 months due to COVID-19. 46.0 Internet revenues amounted to PLN 55.9m in 2020, up 21.6% YoY. -21% 55.
Slide 25: Deni Cler Executive Summary
DENI CLER MILANO EXECUTIVE SUMMARY VISTULA BYTOM WOLCZANKA DENICLER =WKRUK
Slide 26: Deni Cler: Stable Network, Shop-in-Shop Development
DENI CLER: STABLE NETWORK, SHOP-IN-SHOP DEVELOPMENT Deni Cler brand network 4Q19 4Q20 YoY Deni Cler network encompasses 32 monobrand stores (both own Number of stores 31 32 +1 and franchise) in top shopping malls in Poland. incl. franchise 9 9 0 Development of shop-in-shop concept. Deni Cler col
Slide 27: Deni Cler: The Highest Gross Profit Margin
DENI CLER: THE HIGHEST GROSS PROFIT MARGIN Deni Cler brand revenue split Emphasis on capsule collections. A growing share of accessories at 21% 24% 15% 19% the cost of supplementary collection (e.g. New Year’s Eve 8% 5% collection). 6% 3% Fall in sales/ m2 due to impact of shopping malls being c
Slide 28: Deni Cler: Positive Store EBIT
DENI CLER: POSITIVE STORE EBIT Deni Cler brand revenues (PLN m) Deni Cler brand revenues reached PLN 37.5m in 2020, falling 20% 46.6 YoY. Brand stores in shopping malls were closed for almost 3 37.5 month due to COVID-19. 5.0 10.1 Internet revenues amounted to PLN 5.6m in 2020, up 13.5% YoY. -20
Slide 29: W.KRUK Executive Summary
EXECUTIVE SUMMARY
Slide 30: W.KRUK: Brand Immune to Pandemic
W.KRUK: BRAND IMMUNE TO PANDEMIC W.KRUK brand network 4Q19 4Q20 YoY Continuation of W.KRUK brand development. Opening of 4 stores Number of stores 139 143 +4 net translated into a 4% YoY increase in brand’s floorspace. incl. franchise 14 18 +4 The brand had 18 franchise stores at the end of 4Q20
Slide 31: W.KRUK: A High and Stable Store EBIT
W.KRUK: A HIGH AND STABLE STORE EBIT W.KRUK brand revenue split Changes in revenue structure – a growing share of watches versus 30% 37% 35% 35% jewellery. Within jewellery, there was a stable YoY share of gold jewellery in sales structure. 70% 63% 65% 65% Launch of the Freedom Unlimited colle
Slide 32: W.KRUK: Best Revenue and Gross Margin Change
W.KRUK: BEST REVENUE AND GROSS MARGIN CHANGE W.KRUK brand retail revenues (PLN m) W.KRUK retail revenues reached PLN 281.5m in 2020, falling 13.4% 371.4 YoY. Brand stores in shopping malls were closed for almost 3 348.7 months due to COVID-19. 27.8 47.2 Internet revenues amounted to PLN 47.2m in
Slide 33: Group Results
03 GROUP RESULTS
Slide 34: Stable Group Floorspace
STABLE GROUP FLOORSPACE Group floorspace change YoY (ths m2) Group floorspace reached 53.0 ths m2 at the end of 4Q20, down 54.4 53.0 2.4% YoY. 0.4 10.6 11.0 The apparel segment floorspace fell 1.7 ths m2, down 3.9% YoY, 1.7 due to closing down of unprofitable stores. The jewellery segment floo
Slide 35: Jewellery Segment More Immune to Pandemic
JEWELLERY SEGMENT MORE IMMUNE TO PANDEMIC Group revenues (PLN m) Group revenues reached PLN 232.4m in 4Q20 (down 30.2% YoY), 332.5 below 3Q20 values due to shopping malls being closed in 272.1 270.2 251.2 November and after the Christmas season. 249.4 232.0 214.4 125.6 197.5 110.2 86.7 90.8 174.9
Slide 36: More Favourable Trends in the Jewellery Segment
MORE FAVOURABLE TRENDS IN THE JEWELLERY SEGMENT Gross profit on sales (PLN m) 178.5 Group gross profit on sales amounted to PLN 118.9m in 4Q20 143.8 144.6 128.0 122.4 118.9 (down 33.4% YoY). 67.6 105.0 45.9 94.0 59.7 47.1 82.1 In 4Q20 gross profit on sales of the apparel segment reached 52.9 37.
Slide 37: Fall in Operating Costs/ m2
FALL IN OPERATING COSTS/ M2 Monthly operating costs per m2 (PLN, excl. IFRS16) Group operating costs/ m2 (IAS17) reached PLN 680/ m2 monthly and fell 16.1% YoY in 4Q20 due to cost reductions conducted 852 811 683 723 717 (rentals, HR costs). 249 654 672 680 230 196 192 520 196 203 169 188 Costs
Slide 38: 4Q20 Results Under IFRS16 Impacted by Lock-down
4Q20 RESULTS UNDER IFRS16 IMPACTED BY LOCK-DOWN PLN m, IFRS16 4Q19 4Q20 YoY Lower YoY revenues due to a stronger impact of COVID-19 pandemic on the apparel than jewellery segment. Revenues 332.5 232.0 -30.2% Gross profit on sales 178.5 118.9 -33.4% Lower YoY gross profit margin due to higher sha
Slide 39: A More Favourable 4Q20 Result Under IAS17
A MORE FAVOURABLE 4Q20 RESULT UNDER IAS17 YoY fall in revenues due to a stronger impact of COVID-19 pandemic on the apparel than jewellery segment. PLN m, IAS17 4Q19 4Q20 YoY Lower YoY gross profit margin due to higher share of on-line and Revenues 332.5 232.0 -30.2% stronger YoY promotions in s
Slide 40: 2020 Results IFRS16, Executive Summary
2020 RESULTS IFRS16, EXECUTIVE SUMMARY YoY fall in revenues in both segments due to impact of COVID-19 PLN m, IFRS16 2019 2020 YoY pandemic. Lower YoY gross profit margin due to higher share of Revenues 1,068.3 853.7 -20.1% on-line and stronger YoY promotions. Gross profit on sales 556.1 417.3 -24
Slide 41: 2020 Results IAS17, Executive Summary
2020 RESULTS IAS17, EXECUTIVE SUMMARY YoY fall in revenues in both segments due to impact of COVID-19 PLN m, IAS17 2019 2020 YoY pandemic. Revenues 1,068.3 853.7 -20.1% Lower YoY gross profit margin due to higher share of on-line and Gross profit on sales 556.1 417.3 -24.9% stronger YoY promotio
Slide 42: Reduction in Inventories
REDUCTION IN INVENTORIES Change in inventories (PLN m) Inventory down 5.6% YoY to PLN 505.6m in 4Q20 due to 535.5 505.6 conducted sell-offs, write-offs for inventory and lower YoY orders 20.3 for the AW2020 season in apparel segment. 230.4 50.2 250.6 Apparel segment inventory fell 16.5% YoY, due
Slide 43: Net Debt Continues to Fall
NET DEBT CONTINUES TO FALL Net debt (PLN m, excl. IFRS16 plus reverse factoring) Long-term and short-term indebtedness shown together with reverse factoring and financial leases, yet excluding leases from 163.0 149.8 179.9 142.5 89.4 91.3 79.3 87.9 IFRS16. Financial leases under IFRS16 at PLN 354.
Slide 44: High Positive Operating Cash Flows
HIGH POSITIVE OPERATING CASH FLOWS Net working capital (PLN m) A YoY decline in inventories and a release of inventories in the PLN 313.8m quarter due to higher YoY promotions (a consequence of the 20.0 PLN 363.8m 10.8 pandemic) and reductions in collection orders. Decrease in receivables by hal
Slide 45: 2021 Outlook
Zdjecia do wymiany 04 2021 OUTLOOK
Slide 46: 1Q21 Impacted by Pandemic
Do poprawek graficznych 1Q21 IMPACTED BY PANDEMIC 1Q20 1Q21 Information from China about the JANUARY virus, increasing uncertainty about Shopping malls closed all month the supply chain Growing uncertainty about the FEBRUARY situation in Poland, delays in Shopping malls open all month suppliers from
Slide 47: 2021 Revenues Impacted by COVID-19
2021 REVENUES IMPACTED BY COVID-19 JANUARY 2021 FEBRUARY 2021 MARCH 2021 REVENUES -58.3% +2.5% +40,3% GROSS PROFIT MARGIN -7.0 PP. +1.0 PP. +5,7 PP. Local restrictions in 1st IMPACT OF Lock-down, shopping Shopping malls opened half of the month, lock- PANDEMIC malls closed down from March 20 47 | 4Q
Slide 48: Initial 1Q21 Revenue and Margin Results
INITIAL 1Q21 REVENUE AND MARGIN RESULTS PLN m 1Q20 1Q21 YoY Double-digit YoY declines due to lock-down in January and March 2021 (only in March 2020). More favorable Revenues 197.5 171.5 -13.1% sales trends in the jewellery segment than in the apparel segment. - apparel segment 123.3 85.6 -30.6% (re
Slide 49: Stable Floorspace in 2021
STABLE FLOORSPACE IN 2021 2020 2021 target YoY stores 427 411 -16 In 2021, floorspace of traditional APPAREL SEGMENT m2 42,021 41,262 -2% stores should be stable YoY. stores 149 149 0 VISTULA m2 18,695 18,807 1% stores 129 120 -9 WÓLCZANKA m2 4,658 4,667 0% Floorspace of franchise stores at the end
Slide 50: New Lines in Vistula Brand
NEW LINES IN VISTULA BRAND We focus on strengthening Vistula BLACK line - formal and casual clothing Stronger emphasis on sports line - Vistula MOVE Vistula RED line is limited to very fashionable stylizations 50 | Prezentacja 4Q20
Slide 51: New Wólczanka Format
NEW WÓLCZANKA FORMAT New larger stores - modern traditional stores up to 150 m2 versus current average of 36 m2. The first store in Bonarka in Cracow. 4 stores by the end of 2021 Broader assortment - expanding the assortment with new products for both women and men More casual - jeans, sweatpants, d
Slide 52: Further On-line Growth in 2021
FURTHER ON-LINE GROWTH IN 2021 1 2 5 Consistent on-line Deferred on-line Sales application in each and off-line marketing payments for customers of the brands. and promotions. since May 2021 3 4 A modern engine and Further logistics supporting functions. development. 52 | 4Q20 presentation
Slide 53: Our Products on External E-platforms
OUR PRODUCTS ON EXTERNAL E-PLATFORMS Vistula on Modivo platform Deni Cler enters Zalando platform Advantages for VRG brands: Work on entry of further brands on e-platforms Another channel to Broadening of target communicate with Broadening our reach group customers One of omnichannel elements 53 | 4
Slide 54: 2021 Targets
2021 TARGETS YoY growth in Gross profit margin Maintaining cost revenues, both higher YoY, despite efficiency. off-line and on-line. inventory reduction. E-commerce share Sizeably better YoY Maintenance of safe at 20% +. financial results. liquidity position. 54 | Prezentacja 4Q20
Slide 55: Risk and Possibilities for 2021
RISK AND POSSIBILITIES FOR 2021 POSSIBILITIES RISK new collections with a broader another wave of COVID-19 casual offer, development of and stronger sanitarily restrictions jewellery offer lowering consumer demand on-line growth disturbances in supply chain further working capital improvements volat
Slide 56: Q&A
Zdjecia do wymiany 05 Q&A
Slide 57: Back-up
Zdjecia do wymiany 06 BACK-UP
Slide 58: Vistula: Executive Summary
VISTULA: EXECUTIVE SUMMARY VISTULA (MENSWEAR, ELEMENTS OF LADIES COLLECTION) - VISTULA is a brand that combines traditional tailoring and global trends, inspiring customers looking for a modern, original and individual style. - Within the VISTULA brand, we distinguish VISTULA, VISTULA RED, and LANTI
Slide 59: Bytom: Executive Summary
BYTOM: EXECUTIVE SUMMARY BYTOM (MENSWEAR) - Bytom – a Polish brand with origin dating back to 1945. - The brand offers men’s formalwear and smart casual and casual assortment. - ”Made to Measure” – personalised men’s tailoring offered in selected stores. SPRING/SUMMER 2021 COLLECTION - The latest of
Slide 60: Wólczanka: Executive Summary
WÓLCZANKA: EXECUTIVE SUMMARY WÓLCZANKA (FASHION FOR MEN AND WOMEN) - Wólczanka runs a chain of its own and franchise boutiques with women's and men's clothing in Poland. The offer includes, among others shirts, sweaters, pants, dresses, t- shirts, jackets and accessories. Wólczanka also owns the Lam
Slide 61: Deni Cler: Executive Summary
DENI CLER: EXECUTIVE SUMMARY DENI CLER (WOMEN’S FASHION) - Women’s fashion brand with Italian origin, established in Italy in 1971. - A network of stores for women over 35 years of age who value high quality and elegance. - Collections created from highest quality fabrics with superior accessories a
Slide 62: W.KRUK: Executive Summary
W.KRUK: EXECUTIVE SUMMARY THE OLDEST JEWELLEY BRAND IN POLAND - The jewellery offer includes gold and silver jewellery, diamonds, precious stones and original collections. - W.KRUK's offer also includes global watches brands, such as Rolex and Patek Philippe (sole distributor in Poland), Cartier, Ja
Slide 63: Summary of Brands' 4Q20 Results
SUMMARY OF BRANDS’ 4Q20 RESULTS GROWING SHARE OF GROWTH OF INTERNET. ON-LINE SALES. STABLE STORE EBIT. THE HIGHEST SHARE THE HIGHEST GROSS OF INTERNET. PROFIT MARGIN. 63 | 4Q20 presentation
Slide 64: Group Structure
GROUP STRUCTURE VRG CO M PA N I E S I N C LU D E D I N T H E CO N S O L I DAT E D S TAT E M E N T S F O R 4 Q 2 0 JEWELLERY SEGMENT APPAREL SEGMENT OTHER ACTIVITY VRG S.A. W.KRUK S.A. parent company WSM sp. z o.o. ,VG Property sp. z o.o. Jewellery, watches, accessories Vistula, Wólczanka, Bytom bran
Slide 65: Optimisation of Number of Stores
OPTIMISATION OF NUMBER OF STORES NUMBER OF STORES 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 total 440 443 452 451 451 440 427 426 427 APPAREL SEGMENT franchise 117 120 126 129 132 126 126 129 136 total 148 152 154 152 154 148 145 147 149 VISTULA franchise 56 58 60 60 62 59 60 62 65 total 139 139
Slide 66: Stable YoY Floorspace
STABLE YOY FLOORSPACE M2 OF FLOORSPACE 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 total 42,072 42,429 43,207 43,461 43,731 42,962 41,953 41,891 42,021 APPAREL SEGMENT franchise 8,394 8,621 9,223 9,322 9,590 9,123 9,195 9,368 9,882 total 18,230 18,727 19,007 19,058 19,320 18,650 18,291 18,508 18,69
Slide 67: Own E-stores of Five Brands
OWN E-STORES OF FIVE BRANDS On-line sales by segments (PLN m) We have own e-stores for all five retail brands. Our aim is to develop on-line stores of own brands (monoshops). 16.8 Selected products of Vistula available on multibrand platform 9.4 13.4 eObuwie, while Deni Cler products enter Zalan
Slide 68: Fall in Costs/ m2
FALL IN COSTS/ M2 Operating costs per month/ m2 (PLN, excl. IFRS16) Differences in SG&A costs/ m2 between segments result from different business models. The jewellery segment is characterised by higher revenues and 1,376 1,510 1,143 1,177 1,226 1,142 1,113 1,248 costs/ m2 than these of the appa
Slide 69: Off-line Marketing Replaced by On-line
OFF-LINE MARKETING REPLACED BY ON-LINE Off-line marketing costs by segments (PLN m) Marketing costs are part of group selling costs. These encompass: recurring advertising spending (catalogues, 5.7 photoshoots) and nationwide marketing campaigns in editorial, 4.7 2.7 internet and TV with celebri
Slide 70: FX Risk Exposure
FX RISK EXPOSURE Purchases by currencies (PLN m) FX risk is sizeable for the capital group, thus it is being hedged CHF, 8% CHF, 13% USD; since 2Q16. 33% USD, 33% EUR; The group is a beneficiary of strengthening of zloty versus foreign currencies. 2019 22% 2020 EUR, 17% YoY shift in purchases
Slide 71: Historical Quarterly Results, IFRS16
HISTORICAL QUARTERLY RESULTS, IFRS16 PLN m 1Q19 1Q20 YoY 2Q19 2Q20 YoY 3Q19 3Q20 YoY 4Q19 4Q20 YoY Revenues 214.4 197.5 -7.9% 270.2 174.9 -35.3% 251.2 249.4 -0.7% 332.5 232.0 -30.2% Gross profit on sales 105.0 94.0 -10.5% 144.6 82.1 -43.2% 128.0 122.4 -4.4% 178.5 118.9 -33.4% Gross profit on sales m
Slide 72: A Safe Indebtedness Level
A SAFE INDEBTEDNESS LEVEL PLN m 4Q19 2Q20 4Q20 Long-term debt 58.0 56.5 48.6 Interest bearing indebtedness includes: bank loans, finance leases and reverse factoring (taken over with Bytom S.A. merger). Bank loans 55.9 54.6 47.2 Bank loans include: overdrafts and investment bank loans. Bank Fina
Slide 73: Shareholder Structure
SHAREHOLDER STRUCTURE Shareholder structure as at 16.04.2021 (share in equity and votes) Other free- IPOPEMA TFI Number of float % share 21.34% shares/votes 32.19% 1. IPOPEMA TFI 50,034,306 21.34% 2. PZU OFE and DFE 36,042,345 15.37% PZU OFE and 3. NN OFE and DFE 32,750,000 13.97% DFE 4. Jerzy Mazga
Slide 74: Glossary
GLOSSARY APPAREL SEGMENT REVENUES (PLN/M2 PER MONTH) STORE EBIT (PLN M) FORMAL Revenues from brands: Vistula, Wólczanka, Quarterly revenues of segment or brand Store operating profit calculated as gross Revenues from sale of formalwear, including Bytom (from XII 2018), Deni Cler and (stores and inte
Slide 75: Thank You
Zdjecia do wymiany + kolejność lóg do wymiany THANK YOU VRG S.A. Pilotów 10 31-462 Cracow