Super Retail Group Limited · ASX:SUL
Super Retail — FY2012 Earnings Presentation
16 slides from Super Retail's earnings presentation, Aug 22, 2012
Slide 1: Results for the 52 weeks to 30 June 2012
For personal use only Super Retail Group Results for the 52 weeks to 30 June 2012 Peter Birtles, Managing Director Gary Carroll, Chief Financial Officer 22nd August 2012
Slide 2: Group Highlights
Group Highlights For personal use only • Group NPAT up by 50% Like for Like Sales Growth • Group EBIT up by 61% SCA 12 consecutive halves greater than 3% • Group Sales up by 51% BCF Average growth of over 6% over 12 consecutive halves Rebel Strong turnaround post acquisition • Results continue to de
Slide 3: Performance Trends
Performance Trends Sales ($m) For personal use only EBIT ($m) 1654 140.7 1092 938 87.5 829 715 526 625 45.7 55.1 65.8 28.9 38.1 June June June June June June June June June June June June June June 06 07 08 09 10 11 12 06 07 08 09 10 11 12 EPS (cents) * Post Tax ROC (%) 46.1 40.6 17.5 18.8 29.9 34.0
Slide 4: Group Results
Group Results 2011/12 Change For personal use only • Solid sales growth in both SCA and BCF through both new store and LFL growth $m on pcp • 35 week contribution from Sports Retailing division Sales 1,654.1 51.4% • 2011/12 Group NPAT impacted by: – $11.1m transaction costs and $0.4m post tax EBITDA
Slide 5: Divisional Results
Divisional Results 2011/12 2010/11 For personal use only Sales EBIT Sales EBIT $m $m $m $m Auto & Cycle Retailing 755.8 72.2 708.2 63.6 Leisure Retailing 456.3 32.8 384.1 32.0 Sports Retailing 441.9 54.5 Group Costs* (18.8) (8.1) Total Group 1,654.1 140.7 1,092.3 87.5 * ‐ Group Costs include: • $11.
Slide 6: Auto and Cycle Retailing
Auto and Cycle Retailing 2011/12 change on For personal use only • Continued strong performance from Supercheap Auto business ‐ 6th successive year of > than 10% $m pcp EBIT growth • SCA maintained momentum in LFL sales growth Auto Sales 732.3 6.8% through the year building on 4.8% growth in PCP Cyc
Slide 7: Leisure Retailing
Leisure Retailing Overall result reflected strong sales and margin 2011/12 change on For personal use only • growth at BCF, offset by FCO start‐up investment pcp and initial trading losses $m • 13 new BCF stores, 7 new Ray’s Outdoors stores Sales 456.3 18.8% and 5 closures during the year to bring t
Slide 8: Sports Retailing
Sports Retailing 2011/12 change on For personal use only • Results consolidated from 30 October 2011 • Sales performance has been strong in both Rebel $m pcp and Amart All Sports since acquisition with like for like sales growth of 5.8% compared to ‐3% in the 17 Sales 441.9 weeks prior to acquisitio
Slide 9: Group Cash Flow
Group Cash Flow Jun 12 Jun 11 For personal use only • New and refurbished store investment of $64m being fully funded out of operating cash flows $m $m • Operating Cash Flow ‐Store set up costs & Operating cash flow 179.7 95.3 inventory: (pre store set up investment) – Auto & Cycle : $7.7m – Leisure
Slide 10: Group Balance Sheet
Group Balance Sheet Jun 12 Jun 11 For personal use only $m $m • SCA average inventory is 2% higher than PCP, with increased stock weight of higher value products being partially Inventory offset by supply chain efficiency savings - Auto & Cycle Retailing 169.7 165.1 - Leisure Retailing 157.5 127.8 •
Slide 11: Returns & Capital Ratios
Returns & Capital Ratios For personal use only • Improvement in EPS reflects the improved 2012 2011 profit performance, while fixed charge coverage ratio remains strong EPS – reported 46.1c 40.6c • All cover ratios are well within covenanted levels Fixed charge cover 2.03x 2.03x • As a result of the
Slide 12: Strategic Themes
Strategic Themes \ For personal use only UNDERSTANDING AND ENGAGING OUR CUSTOMERS RANGE, BRAND AND SUPPLY CHAIN AND SERVICE INVENTORY DEVELOPMENT INTEGRATED MANAGEMENT MULTI – CHANNEL ATTRACTING AND EFFICIENT AND ENGAGING OUR EFFECTIVE TEAM MEMBERS ORGANISATION
Slide 13: Range, Brand and Service Development
Range, Brand and Service Development For personal use only Channel and Customer Development Range Development • New stores • New product introduction • Auto – Grow to 320 stores (from 281) • Circa 20 to 25% of product renewed • Leisure – Grow to 200 stores (from 156) annually • Sports – Grow to 185
Slide 14: Integrated Multi Channel Capabilities
Integrated Multi Channel Capabilities For personal use only Understanding and Engaging Customers Supply Chain & Inventory Management Capabilities developed in 11/12: Capabilities developed in 11/12: •Brand websites designed for mobile devices •Growth in on-line business underpinned with hub and spok
Slide 15: Supporting Capabilities
Supporting Capabilities For personal use only Efficient and Effective Organisation Attracting and Engaging Team Members Capabilities developed in 11/12: Current Performance: • Store efficiencies in Auto and Leisure •Attraction tracking ahead of internal targets • Integration of Rebel support operati
Slide 16: Looking Forward
Looking Forward For personal use only Auto Retailing • LFL sales growth in the first 7 weeks of 12/13 circa 5% • SCA store development : plan to open 8 to 10 new stores, close 2 stores, reconfigure 5 stores as Superstores and refurbish 23 stores during 12/13 • Full year gross and EBIT margins expect