Beacon Lighting Group Ltd · ASX:BLX
Beacon Lighting — FY2021 Earnings Presentation
24 slides from Beacon Lighting's earnings presentation, Aug 19, 2021
Slide 1: FY2021 Results Presentation
For personal use only FY2021 RESULTS PRESENTATION 19 AUGUST 2021 Beacon Lighting Group Limited
Slide 2: Contents
CONTENTS For personal use only 1 RESULTS OVERVIEW 2 FINANCIALS 3 STRATEGIC PILLARS OF GROWTH 4 FY2022 OUTLOOK 6 QUESTIONS 6 APPENDICES FY2021 RESULTS PRESENTATION 2
Slide 3: Results Overview
For personal use only 1 RESULTS OVERVIEW
Slide 4: FY2021 Highlights
1 FY2021 HIGHLIGHTS For personal use only • Record sales and profit result for the Beacon Lighting Group • Company store comparative sales increased by 13.3% TRA DE • Record Online sales of $26.0m an increase of 60.3% • Record Beacon International sales of $12.3m an increase of 45.3% • Focused on be
Slide 5: FY2021 Statutory Result
1 FY2021 STATUTORY RESULT For personal use only Statutory Statutory $'000 Change $ Change % FY2020 FY2021 Sales 251,749 288,679 36,930 14.7% Gross Profit 160,274 197,335 37,061 23.1% Gross Profit Margin % 63.7% 68.4% Operating Expenses (1) (106,536) (112,190) (5,654) 5.3% % of Sales 42.3% 38.9% EBIT
Slide 6: FY2021 Comparable Result
1 FY2021 COMPARABLE RESULT For personal use only Underlying Statutory $'000 Change $ Change % FY2020 (1) (2) FY2021 (1) Sales 250,391 288,679 38,288 15.3% Gross Profit 163,482 197,335 33,853 20.7% Gross Profit Margin % 65.3% 68.4% Operating Expenses (3) (104,621) (112,190) (7,569) 7.2% % of Sales 41
Slide 7: Financials
For personal use only 2 FINANCIALS
Slide 8: Sales
2 SALES For personal use only SALES: $288.7m increased by 15.3% | COMPANY STORE COMPARATIVE SALES: Increased by 13.3% • Company store sales were very exciting throughout Q1 to Q3 FY2021 with a comparative increase of 22.1% • Company store comparative sales declined in Q4 FY2021 by 10.2% vs Q4 FY2020
Slide 9: Gross Profit
2 GROSS PROFIT For personal use only GROSS PROFIT: 68.4% of Sales to $197.3m • Gross profit dollars have increased by 20.7% with a margin of 68.4% • Everyday pricing and improved procurement negotiations have supported the margin • The strengthening of the Australian dollar has supported the product
Slide 10: Operating Expenses
2 OPERATING EXPENSES For personal use only OPEX: Decreased by 3.6% of Sales to $112.2m • Good productivity leverage was achieved with Operating Expenses $'000 FY2020 FY2021 Change $ Change % • Significant leverage was achieved with Selling and Distribution Expenses Marketing Expenses 13,535 13,045 (
Slide 11: Cash Flow
2 CASH FLOW For personal use only • Strong profit performance has generated strong cash flows $'000 FY2020 FY2021 • Tax paid in FY2021 includes the tax on the Parkinson Distribution Centre Cash Flow from Operations (PDC) Sale from FY2020 Receipts from Customers 280,458 318,869 • Continued investment
Slide 12: Balance Sheet
2 BALANCE SHEET • Strong cash balance of $33.8m For personal use only $'000 FY2020 FY2021 • Inventories increased despite supply chain challenges Cash 44,856 33,830 Receivables 8,620 7,788 • Increase in right of use assets and lease liabilities as a result of new Inventories 63,082 67,936 stores, ne
Slide 13: Dividend
2 DIVIDEND For personal use only • Record dividend declared for FY2021 • Declared a fully franked dividend of 8.80 cents per share for FY2021 compared to a fully franked dividend of 5.00 cents per share for FY2020 • The fully franked dividend was declared for H2 FY2021 of 4.60 cents per share while
Slide 14: Strategic Pillars of Growth
STRATEGIC PILLARS For personal use only 3 OF GROWTH Customer | Underpinning everything we do at Beacon is a deep understanding of our customers’ needs. Retail Trade eCommerce New Business A R E WA R D I N G I N DU S TRY LE A D I N G E N G AG I N G W E B S ITE S E M E RG I N G BU S I N E S S E S CU S
Slide 15: Strategic Pillars of Growth: Retail Update
3 STRATEGIC PILLARS OF GROWTH For personal use only STRATEGIC PILLAR FY2021 RETAIL UPDATE • All 115 Beacon Lighting stores have enjoyed a record-breaking year • Company store comparative sales increased by 13.3% • Opened new company stores at Virginia (QLD), Camperdown (NSW), Belmont (WA) and Tweed
Slide 16: Strategic Pillars of Growth: Trade Update
3 STRATEGIC PILLARS OF GROWTH For personal use only STRATEGIC PILLAR FY2021 TRADE UPDATE • Improving service to our Trade Customers remains the number one growth priority for the Group • Beacon Lighting stores now open at 7:30 am to make it easier for our Trade Customers to shop at Beacon Lighting •
Slide 17: Strategic Pillars of Growth: eCommerce Update
3 STRATEGIC PILLARS OF GROWTH For personal use only STRATEGIC PILLAR FY2021 ECOMMERCE UPDATE • Re-platformed the Beacon Lighting websites to provide for an enhanced online experience for our customers today and for many years to come • Online sales increased by 60.3% to $26.0 million • Online sales
Slide 18: Strategic Pillars of Growth: New Business Update
3 STRATEGIC PILLARS OF GROWTH For personal use only STRATEGIC PILLAR FY2021 NEW BUSINESS UPDATE • Beacon International continues to develop new sales channels to new customers in new markets • Beacon International sales increased by 45.3% to $12.3 million • Acquired the Ballarat franchised store and
Slide 19: FY2022 Outlook
For personal use only 4 FY2022 OUTLOOK
Slide 20: FY2022 Outlook
4 FY2022 OUTLOOK • Whilst the macro-economic environment remains supportive For personal use only of Beacon Lighting, rolling state lockdowns continue to affect retail sales • Development of new trade products, enhanced trade marketing program and the implementation of a new Trade Loyalty Club progr
Slide 21: Questions
For personal use only 5 QUESTIONS
Slide 22: Appendix
For personal use only 6 APPENDIX 1. O ther Information 2. R econciliation of the FY2020 Statutory Profit to the Underlying profit
Slide 23: Appendix 1: Other Information
6 APPENDIX 1: OTHER INFORMATION DISCLAIMER For personal use only The presentation contains “forward-looking statements”. All statements other than those of historical facts included in the presentation are forward-looking statements. Where the Group expresses or implies an expectation or belief as t
Slide 24: Appendix 2: Reconciliation of FY2020 Statutory Profit to Underlying Profit
6 APPENDIX 2: RECONCILIATION OF THE FY2020 STATUTORY PROFIT TO THE UNDERLYING PROFIT For personal use only Statutory Less Less Underlying $'000 FY2020 BES (1) PDC Sale (2) FY2020 (3) Sales 251,744 1,358 250,391 Gross Profit 160,274 (3,208) 163,482 Gross Profit Margin % 63.7% (236.3%) 65.3% Operating