Sligro Food Group N.v. · EURONEXT:SLIGR

Sligro Food — H1 2018 Earnings Presentation

35 slides from Sligro Food's earnings presentation, Jul 19, 2018

  1. Slide 1: Half-year figures 2018

    Sligro Food Group N.V. Half-year figures 2018 Amsterdam, 19 July 2018

  2. Slide 2: Agenda

    Half-year figures 2018 Agenda

  3. Slide 3: Net sales

    Stor Sligro Food Group NV. amounts * € million H1-2018 H1-2017 H1-2018 H1-2017 Net sales 1,131 1,019 100.0% 100.0% Gross margin 276 230 24.4% 22.6% Other operating income - - 0.0% 0.0% Expenses -214 -172 -18.9% -16.9% EBITDA 62 58 5.5% 5.7% Depreciation charges & impairments -19 -17 -1.7% -1.6% EBIT

  4. Slide 4: Net sales

    Stor Sligro Food Group NY, amounts * € million Qi Q2 H1 2018 Net Sales 525 606 1,131 2017 Net Sales 466 553 1,019 Total increase 59 53 112 Growth 12.7% 9.5% 11.0% Export volumes 7 7 -14 Fee Fresh Partners (impact of IFRS 15) -4 5 9 Easter 7 7 - Other Organic 6 16 22 Organic increase 2 -3 -1 Organic

  5. Slide 5: Net sales: Geographical segmentation

    Net sales: Geographical segmentation amounts * € million 1) This relates on the one hand to delivery sales from the Dutch delivery centres to Belgian customers and on the other hand, to Belgian customers from the border region who shop in the Dutch C&Cs. 2) This concerns the sales of JAVA and ISPC f

  6. Slide 6: Gross margin

    Stor Sligro Food Group NV. amounts * € million H1-2018 H1-2017 H1-2018 H1-2017 Net sales 1,131 1,019 100.0% 100.0% Gross margin 276 230 24.4% 22.6% Other operating income - - 0.0% 0.0% Expenses -214 -172 -18.9% -16.9% EBITDA 62 58 5.5% 5.7% Depreciation charges & impairments -19 -17 -1.7% -1.6% EBIT

  7. Slide 7: Expenses

    > Sligro Food Group NV. amounts * € million H1-2018 H1-2017 H1-2018 H1-2017 Net sales 1,131 1,019 100.0% 100.0% Gross margin 276 230 24.4% 22.6% Other operating income = = 0.0% 0.0% Expenses -214 -172 -18.9% -16.9% EBITDA 62 58 5.5% 5.7% Depreciation charges & impairments -19 -17 -1.7% -1.6% EBITA 4

  8. Slide 8: Amortisation details

    Amortisation details       

  9. Slide 9: EBIT

    Stor Sligro Food Group NV. amounts * € million H1-2018 H1-2017 H1-2018 H1-2017 Net sales 1,131 1,019 100.0% 100.0% Gross margin 276 230 24.4% 22.6% Other operating income - - 0.0% 0.0% Expenses -214 -172 -18.9% -16.9% EBITDA 62 58 5.5% 5.7% Depreciation charges & impairments -19 -17 -1.7% -1.6% EBIT

  10. Slide 10: Net profit

    Stor Sligro Food Group NV. amounts * € million H1-2018 H1-2017 H1-2018 H1-2017 Net sales 1,131 1,019 100.0% 100.0% Gross margin 276 230 24.4% 22.6% Other operating income - - 0.0% 0.0% Expenses -214 -172 -18.9% -16.9% EBITDA 62 58 5.5% 5.7% Depreciation charges & impairments -19 -17 -1.7% -1.6% EBIT

  11. Slide 11: Cash flow statement

    Stor Sligro Food Group NV. amounts * € million H1 2018 H1 2017 Net cash generated from operations 67 78 Net finance income 2 1 Corporate income tax paid -24 -24 From operating activities 45 55 Acquisitions / divestments -38 Disposal of operating activities Investments in associates Net capital expen

  12. Slide 12: Discontinued operations

    Stor Sligro Food Group NV. Discontinued operations 11

  13. Slide 13: EMTÉ H1 2018

    Stor Sligro Food Group NV. Sales declined in the first half-year (like-for-like down 3.0%) Costs reduced in line with sales trend No depreciation/amortisation of property, plant and equipment and intangible assets as a result of ‘held for sale’ status Last year, net positive impact from impairments

  14. Slide 14: Discontinued operations

    Stor Sligro Food Group NV. Result including transaction results €x million H1 2018 Net profit 4 Book profit on sale of EMTE Holding B.V. shares 215 Book profit on sale of retail property 18 Consultancy and non-recurring separation costs -11 Tax (corporate income tax) -3 Forecast net profit H2 2018 2

  15. Slide 15: Dis-synergy effects of EMTÉ transaction

    Dis-synergy effects of EMTÉ transaction        

  16. Slide 16: Sligro Food Group

    Stor Sligro Food Group NV. Sligro Food Group = Market trends = Developments at SFG 15

  17. Slide 17: Market trends

    16 Foodservice market is growing according to Foodstep H1 - 2018 by 3.3% Foodservice Market 2017 FSIN beleidsmonitor 2018 Foodservice Market 2018 Foodstep periodemonitor P6 2018 Sligro FS NL H1 2018 (total) SFG half-year figures 2018 Sligro FS NL H1 2018 (underlying) +1.9% SFG half-year figures 2018

  18. Slide 18: Foodservice at Sligro Food Group

    Foodservice at Sligro Food Group           

  19. Slide 19: Foodservice at Sligro Food Group – Roll-out 3.0

    Foodservice at Sligro Food Group – Roll-out 3.0    

  20. Slide 20: Update on strategic cooperation with Heineken

    Update on strategic cooperation with Heineken Overall       

  21. Slide 21: Update on strategic cooperation with Heineken: Integration network

    Update on strategic cooperation with Heineken: Integration network Drachten     Amsterdam  Deventer  Berkel en Rodenrijs Utrecht  ‘s-Hertogenbosch  Breda Vlissingen Venray Sluis   Maastricht

  22. Slide 22: Update on Sligro Belgium

    Update on Sligro Belgium    

  23. Slide 23: Achieving growth with Sligro Insights

    Achieving growth with Sligro Insights   

  24. Slide 24: Sligro Insights creates insights through guided analysis and reports

    Sligro Insights creates insights through guided analysis and reports ARTICLE GROUP SUMMARY TOP 10 GROWING/DECLINING PRODUCTs PER SUPPLIER DEVELOPMENT OF BRAND PERFORMANCE

  25. Slide 25: Sligro Insights reports are visual and interactive

    Sligro Insights reports are visual and interactive

  26. Slide 26: Outlook

    Stor Sligro Food Group NV. Outlook 25

  27. Slide 27: Outlook

    Stor Sligro Food Group NV. Annual market growth of 2.5%-3.5% Opening of Sligro-ISPC Antwerp in 04 Heineken integration and start of physical integration of premises from the end of the year (will take two to three years) Launch of IT transition programme in 04 2018 with the first roll-out in Belgium

  28. Slide 28: Outlook 2018 EBIT

    Outlook 2018 EBIT  Foodservice 91 1 4 2 88 9 83 3 5 5 12 3 16 55 EBIT 2017 Book profit Consultancy Start-up costs EBIT 2017 Acquisitions Export volumes Start-up costs IT programme Growth and EBIT 2018 ‘for Dis-synergy Costs of EBIT 2018 reported on sale of costs in Belgium ’cleaned up’ in Belgium o

  29. Slide 29: Outlook CAPEX

    Stor Sligro Food Group NV. Long-term target for CAPEX level is (and remains) 2.5% of sales In the short term, extra CAPEX from IT transition programme and Delivery Service infrastructure in relation to Heineken = Underlying trend over next five years, 2.5% of sales = CAPEX IT transition approximatel

  30. Slide 30: IT transition costs and CAPEX

    Stor Sligro Food Group NV. €x million 20.0 15.0 IT transition 1 2 3 4 &#45B 6 7% 86 = CAPEX mCost in P&L Years IT 2020 is the transition to a new ERP architecture and corresponding processes: = Internal organisation, management and monitoring set up = Contract entered into with SAP = PwC selected as

  31. Slide 31: Slide 31

  32. Slide 32: Annexes

    Stor Sligro Food Group NV. Annexes 31

  33. Slide 33: Profit and loss account

    Stor Sligro Food Group NV. amounts * € million H1-2018 H1-2017 change H1-2018 H1-2017 Net sales 1,131 1,019 11.0% 100.0% 100.0% Gross margin 276 230 19.6% 24.4% 22.6% Other operating income > S| 265.0% 0.0% 0.0% Expenses -214 -172 24.1% -18.9% -16.9% EBITDA 62 58 7.1% 5.5% 5.7% Depreciation charges

  34. Slide 34: Balance sheet

    Stor Sligro Food Group NV. amounts * € million 30-06-2018 — 01-07-2017 30-06-2018 — 01-07-2017 Non-current assets Shareholders’ equity 647 621 Intangible assets 292 261 Property, plant and equipment 318 378 Provisions 28 38 Investment property - 19 Financial assets 61 64 Long-term borrowings 195 98

  35. Slide 35: Slide 35

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