Aeffe S.p.a. · MIL:AEF
Aeffe — FY2023 Earnings Presentation
15 slides from Aeffe's earnings presentation, Mar 14, 2024
Slide 1: AEFFE Group FY Consolidated Results Presentation
AEFFE GROUP FY Consolidated Results Presentation 14th March 2024
Slide 2: Share Information and Disclaimer
SHARE INFORMATION AND DISCLAIMER This presentation is being furnished to you solely for your information on a confidential basis and may not be reproduced or redistributed to any other person. This presentation does not constitute or form part of any offer to sell or invitation to purchase or subscr
Slide 3: Highlights
HIGHLIGHTS CONSOLIDATED REVENUES -9.0% at 319 million euros (-9.5% at current exchange rates) ADJUSTED EBITDA +12.4 million euros (+35.6 million in 2022) NET LOSS at 32.1 million euros compared with a net loss of 9 million in 2022 FINANCIAL INDEBTEDNESS (net of IFRS16 effect) equal to 152 million eu
Slide 4: FY Revenues Highlights
FY REVENUES HIGHLIGHTS NET SALES BREAKDOWN BY BUSINESS BY CHANNEL * (9.0)% RETAIL 30% FOOTWEAR & LEATHER 352 GOODS 40% WHOLESALE ROYALTIES 3% 319 PRET À PORTER 60% 67% BY BRAND BY REGION Asia & RoW Europe 31% 21% POLLINI 11% OTHERS 1% Usa 6% MOSCHINO 76% ALBERTA FERRETTI 7% PHILOSOPHY 5% 2022 2023 I
Slide 5: FY Revenues by Business
FY REVENUES BY BUSINESS *(7.6%) 231.8 212.4 PRET A PORTER 2022 2023 *(13.1%) 163.6 142.1 LEATHER GOODS 2022 2023 Euro millions *At constant exchange rates 5 Before inter-divisional eliminations
Slide 6: Revenues by Business by Q
REVENUES BY BUSINESS BY Q 2022 2023 67.7 62.9 60.7 58.3 52.5 50.5 48.7 42.9 PRET A PORTER Q1 Q2 Q3 Q4 46.2 46.1 48.7 34.0 36.8 34.7 29.2 30.1 LEATHER GOODS Q1 Q2 Q3 Q4 Euro millions Before inter-divisional eliminations 6
Slide 7: FY Revenues by Channel
FY REVENUES BY CHANNEL * (13.9)% 248.6 213.9 WHOLESALE 2022 2023 * +9.0% 88.5 94.9 RETAIL 2022 2023 * (33.7)% 14.9 9.9 ROYALTIES 2022 2023 Euro millions 7 * At constant exchange rates
Slide 8: Revenues by Channel by Q
REVENUES BY CHANNEL BY Q 2022 2023 78.0 66.9 70.4 62.3 51.6 48.5 43.7 41.0 WHOLESALE Q1 Q2 Q3 Q4 23.9 23.1 26.3 25.2 22.7 22.7 RETAIL 19.5 19.9 Q1 Q2 Q3 Q4 4.0 2.4 3.4 2.9 3.9 2.5 3.7 2.1 ROYALTIES Q1 Q2 Q3 Q4 Euro millions 8
Slide 9: FY Revenues by Brand
* (11.3)% FY REVENUES BY BRAND 273.3 240.8 2022 2023 * +3.4% 21.2 21.9 2022 2023 * +7.9% 16.3 17.5 2022 2023 * (6.3)% 36.8 34.5 Euro millions 2022 2023 9 *At constant exchange rates
Slide 10: Revenues by Brand by Q
2022 2023 REVENUES BY BRAND BY Q 79.0 76.1 68.5 66.2 60.5 57.8 54.6 51.4 Q1 Q2 Q3 Q4 7.0 7.3 3.8 4.5 6.9 7.4 3.6 2.7 Q1 Q2 Q3 Q4 5.1 6.0 2.8 6.2 6.2 2.9 2.6 2.1 Q1 Q2 Q3 Q4 Euro millions 8.5 10.4 8.1 10.7 8.9 9.6 8.4 6.8 10 Q1 Q2 Q3 Q4
Slide 11: FY Revenues by Region
* (7.3)% FY REVENUES BY REGION 144.6 134.0 ITALY 2022 2023 * (16.3)% 117.8 98.6 EUROPE 2022 2023 * +4.9% 65.0 66.7 ASIA & ROW 2022 2023 * (20.0)% 24.6 19.3 Euro millions *At constant exchange rates USA 11 2022 2023
Slide 12: Revenues by Region by Q
2022 2023 REVENUES BY REGION BY Q 44.8 42.8 42.8 39.7 28.6 28.5 25.4 26.0 ITALY Q1 Q2 Q3 Q4 31.6 32.3 27.4 27.7 27.7 26.2 22.8 20.7 EUROPE Q1 Q2 Q3 Q4 17.6 17.5 16.8 17.5 18.6 14.0 16.0 13.8 ASIA & ROW Q1 Q2 Q3 Q4 9.6 5.5 4.7 4.6 6.0 3.9 4.3 5.3 Euro millions USA 12 Q1 Q2 Q3 Q4
Slide 13: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT (EUR MILLIONS) INCOME STATEMENT FY 23 FY 22 Net Sales 318.6 352.0 % change (9.5%) Other Revenues 10.7 11.6 Total Revenues 329.4 363.6 % change (9.4%) Raw Materials Costs (129.2) (135.2) Service Costs (110.4) (110.8) Costs for use of third parties (6.0) (5.7) Personnel (
Slide 14: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET BALANCE SHEET 2023Y 2022Y (EUR MILLIONS) Net Working Capital 108.3 113.0 Net Tangible Assets 60.4 61.3 Net Intangible Assets 62.9 66.0 Net Intangible Assets for Rights of use - IFRS 16 102.2 110.6 Net Financial Assets 0.1 0.2 Severance Staff, Provisions & Others (1.3) (9.5
Slide 15: Consolidated Cash Flow
CONSOLIDATED CASH FLOW CASH FLOW 2023Y 2022Y (EUR MILLIONS) PBT (37.9) (3.8) Amortisation / write-downs 32.9 34.3 Accrual (+)/availment (-) of long term provisions (1.4) (0.3) Paid income taxes (2.6) (2.2) Financial income (-) and financial charges (+) 10.8 5.0 Change in operating assets and liabili