Halfords Group Plc · LSE:HFD
Halfords — Corporate Update (April 2011)
5 slides from Halfords's corporate update, Apr 7, 2011
Slide 1: Halfords Pre-Close Trading Statement
Halfords Pre-Close Trading Statement Analysts Call 7th April 2011 1
Slide 2: Retail
Retail Commitment to provide greater clarity o LFL “Sales Anchors”: Car Maintenance, Car Enhancement and Leisure o FY11 UK/ROI revenue: c.£769m o FY11 Underlying cost base c.£300m. o Cost split: o Store Staff c.26% o Warehouse & Distribution costs c.9% o Store Occupation c.46% o Support costs c.19%
Slide 3: Autocentres
Autocentres High operational gearing - cash generative business o FY11 revenue c.£98m o Gross profit c.66% o Operating costs (inc labour) – predominantly fixed o Typical mature centre currently generates c.£40k of annualised EBIT o FY12 EBIT start up losses from new centres c.£1m o FY12 capex around
Slide 4: Capital return
Capital return £75m share buyback o Highly cash generative business o Opportunity and capacity now for capital return o Year end FY11 net debt expected to be c.£105m o Debt metrics (pre buy back): FY11(est.) o Adjusted net debt: EBITDAR1 c.3.3x o Net debt: EBITDA c.0.7x o Finance charge for FY12 pos
Slide 5: Disclaimer
Disclaimer The preceding slides are only directed at persons to who this presentation may lawfully be communicated (“relevant persons”). Any person who is not a relevant person should not act or rely on these slides or any of their content. These slides do not constitute any offering of securities o
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