Sligro Food Group N.v. · EURONEXT:SLIGR
Sligro Food — H1 2019 Earnings Presentation
32 slides from Sligro Food's earnings presentation, Jul 18, 2019
Slide 1: Half-year figures 2019
Sligro Food Group N.V. Half-year figures 2019 Amsterdam, 18 July 2019
Slide 2: Agenda
Stor Sligro Food Group NV. Agenda Welcome Half-year figures 2019 Market developments Developments at SFG Outlook Koen Slippens Rob van der Sluijs Koen Slippens Koen Slippens Koen Slippens
Slide 3: Net sales
Net sales ▪ ▪ ▪ ▪ ▪ ▪ 1) The comparative figures 2018 have not been adjusted for the IFRS change in accounting policy.
Slide 4: Net sales: country segments
Net sales: country segments 1) Net sales Netherlands includes turnover from Belgian customers directly serviced by the Netherlands. ▪ ▪ ▪ ▪
Slide 5: Profit before tax
Profit before tax ▪ ▪ ▪ ▪ ▪ ➔ 1) The comparative figures 2018 have not been adjusted for the IFRS change in accounting policy.
Slide 6: Impact of IFRS 16 - key figures
Impact of IFRS 16 - key figures ▪ ▪
Slide 7: Impact of IFRS 16 - balance sheet
Impact of IFRS 16 - balance sheet ▪ ▪
Slide 8: Analysis of profit before tax
Analysis of profit before tax amounts * € million 6 31 2 0 1 6 0 16 Profit Central IT Acquisition of Other non- Belgian Dutch Profit before tax overheads Wheere recurring operations operations before tax H1 2018 items H1 2019
Slide 9: Central overheads and IT
Central overheads and IT amounts * € million ▪ 31 6 ▪ 2 0 1 6 0 ▪ 16 ▪ ▪ Profit Central IT Acquisition Other non- BE NL Profit before tax overheads of Wheere recurring before tax ▪ H1 2018 items H1 2019
Slide 10: Non-recurring items
Non-recurring items amounts * € million ▪ 31 6 2 0 ▪ 1 6 ▪ 0 ▪ 16 ▪ Profit Central IT Acquisition Other non- BE NL Profit before tax overheads of Wheere recurring before tax H1 2018 items H1 2019
Slide 11: Foodservice operations: Belgium
Foodservice operations: Belgium amounts * € million ▪ 31 6 ▪ 2 0 1 6 ▪ 0 16 ▪ ▪ Profit Central IT Acquisition Other non- BE NL Profit before tax overheads of Wheere recurring before tax H1 2018 items H1 2019
Slide 12: Foodservice Belgium
Stor Sligro Food Group NV. € 375k Weekly sales Sligro-ISPC Antwerpen Break-Even-Point €750k b-===- Opening '18 Week 26'19 Sales in Belgium outperformed the market, driven by progress at Antwerp. Strong improvement in sales in Antwerp (see image). Gross margin depressed mainly by relatively high inve
Slide 13: Foodservice operations: Netherlands
Foodservice operations: Netherlands amounts * € million ▪ 31 6 ▪ 2 0 1 6 ▪ 0 16 ▪ ▪ Profit Central IT Acquisition Other non- BE NL Profit before tax overheads of Wheere recurring before tax H1 2018 items H1 2019
Slide 14: Net profit
Net profit ▪ ▪ 1) The comparative figures 2018 have not been adjusted for the IFRS change in accounting policy.
Slide 15: Segment information
Segment information ▪ ▪ ▪ 1) The comparative figures 2018 have not been adjusted for the IFRS change in accounting policy. 2) Net sales Netherlands includes turnover from Belgian customers directly serviced by the Netherlands.
Slide 16: Cash flow statement
Cash flow statement ▪ ▪ ▪ ▪ ▪ 1) This concerns the comparative figures for this year from the 2018 half-yearly financial statements, which include both the continuing operations and discontinued operations.
Slide 17: Sligro Food Group
Stor Sligro Food Group NV. Sligro Food Group = Market developments = Developments at SFG 16
Slide 18: Market developments: Belgium
Market developments: Belgium Consumer confidence BE Unemployment BE 6 10.00% 4 9.00% 2 8.00% 0 7.00% -2 6.00% -4 5.00% -6 4.00% -8 3.00% -10 2.00% -12 1.00% -14 0.00% mrt-15 mrt-18 mrt-16 mrt-17 mrt-19 jan-15 jul-15 jan-16 jul-16 jan-17 jul-17 jan-18 jul-18 jan-19 sep-15 sep-16 sep-17 sep-18 nov-15
Slide 19: Update: SFG Belgium
Stor Sligro Food Group NV. Belgian market under pressure and contracting. Java and ISPC beating the market, additional growth coming from Antwerp > market significantly outperformed Central head office for SFG Belgium now set up; still inefficient until implementation of SAP Next step: legal integra
Slide 20: Market developments: Netherlands
100 102 104 106 108 96 98 10 15 20 25 30 0 5 -10 -5 jan-15 jan-15 mrt-15 mrt-15 mei-15 mei-15 jul-15 jul-15 sep-15 sep-15 nov-15 nov-15 jan-16 jan-16 mrt-16 mrt-16 mei-16 mei-16 jul-16 jul-16 sep-16 sep-16 nov-16 nov-16 jan-17 jan-17 mrt-17 mrt-17 mei-17 mei-17 Inflation NL jul-17 jul-17 sep-17 sep-
Slide 21: Developments at SFG Netherlands
Developments at SFG Netherlands ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Slide 22: SFG Netherlands - Property
SFG Netherlands - Property ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Construction of DS Deventer
Slide 23: Update on strategic partnership with Heineken
Update on strategic partnership with Heineken ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Slide 24: Update on De Kweker
Update on De Kweker Acquisition completed on 17 June 2019: ▪ ▪ ▪ ▪ H2-2019 losses and sale/discontinuation costs. ▪ ▪ ▪ ▪
Slide 25: Update on new IT landscape
Update on new IT landscape ▪ ▪ ▪ Start of Prototype phase in H2-2019 ▪ Construction and Pilot phase in Q1-2020 ▪ Testing in Q2-2020 ▪ Roll-in BE during H2-2020. ▪ ▪
Slide 26: Outlook
Stor Sligro Food Group NV. Outlook 25
Slide 27: Outlook
Outlook ▪ ▪ ▪ ▪ ▪ Integration of Heineken, first integration of premises after the summer ▪ SAP implementation, roll-out in BE on schedule in 2020 ▪ Organisational changes to be implemented in HK, NL and BE ▪ Growth in sales in BE appropriate to infrastructure in place. ▪ ▪
Slide 28: Back to Business
Stor Sligro Food Group NV. to Back to Business 27
Slide 29: Appendix
Stor Sligro Food Group NV. Appendix 28
Slide 30: Profit and loss account
Profit and loss account 1) The comparative figures 2018 have not been adjusted for the IFRS change in accounting policy.
Slide 31: Balance sheet
Balance sheet 1) This concerns the comparative figures for this year from the 2018 half-yearly financial statements.
Slide 32: Slide 32