Slide 1: AVI Limited presentation to shareholders & analysts for the year ended 30 June 2021
AVI Limited presentation to shareholders & analysts for the year ended 30 June 2021
Slide 2: Agenda
AGENDA Key features and results history Group financial results Performance and prospects Questions and answers
Slide 3: Key features
KEY FEATURES Group revenue increased by 0,5% Operating profit increased by 3,2% Selling and administrative costs declined by 5,4% COVID-19: Mixed impact on demand Additional costs of R24 million Selling price increases taken to offset higher raw material costs in most categories Impr
Slide 4: Results history: operating profit
RESULTS HISTORY Operating profit history 2 800 2 568 2 534 2 600 2 347 2 430 2 400 2 397 395 328 230 202 2 200 2 165 366 237 150 170 2 000 1 928 250 345 1 800 241 238 342 1 722 408 404 425 R million 1 600 1 529 218 388 389 1 388 1 400 198 910 410 331 815 1 200 1 122 723 308 172 248 705 1 000 916 893
Slide 5: Results history: return on capital employed
RESULTS HISTORY Return on capital employed 8 000 35% 7 000 30% 6 000 5 000 25% R million 4 000 20% 3 000 2 000 15% 1 000 0 10% F11 F12 F13 F14 F15 F16 F17 F18 F19 F20 F21 Net operating profit after tax Average capital employed ROCE (%) High return maintained in tough environment
Slide 6: Results history: cash conversion
RESULTS HISTORY Cash conversion 3 500 120% 3 000 100% 2 500 80% 2 000 R million 60% 1 500 40% 1 000 20% 500 0 0% F11 F12 F13 F14 F15 F16 F17 F18 F19 F20 F21 EBITDA Cash generated by operations Cash to EBITDA Sustained strong conversion of earnings to cash
Slide 7: Results history: dividend yield
RESULTS HISTORY Dividend yield 14% 12,0% 12% 10,1% 10% 7,7% 8% 7,4% 6,4% 6,5% 6,3% 6,2% 5,8% 6,1% 6% 5,2% 4,9% 4,5% 4,1% 4,5% 4,3% 4,5% 4,4% 4,1% 3,8% 3,7% 4,0% 4,0% 4% 2,8% 2% 0% F05 F06 F07 F08 F09 F10 F11 F12 F13 F14 F15 F16 F17 F18 F19 F20 F21 Normal dividend yield Total dividend yield Based o
Slide 8: Results history: returns to shareholders
RESULTS HISTORY Returns to shareholders 2 500 2 364 2 253 2 000 926 1 704 823 1 500 1 360 1 368 1 354 639 1 322 R million 1 197 550 953 1 000 870 909 789 270 621 1 430 1 368 1 354 319 1 322 1 197 500 227 1 065 953 318 231 301 810 229 263 621 202 166 529 301 373 166 229 239 263 0 116 F05 F06 F07 F08
Slide 9: Group Financial Results
Group Financial Results
Slide 10: Group financial results: income statement
GROUP FINANCIAL RESULTS Income statement F21 F20 Rm Rm %∆ Revenue 13 269,2 13 209,7 0,5 Cost of Sales (8 101,2) (7 958,5) 1,8 Gross Profit 5 168,0 5 251,2 (1,6) Gross Profit margin % 39,0 39,8 (2,0) Selling and administrative expenses (2 758,7) (2 916,7) (5,4) Operating profit 2 409,3 2 334,5 3,2 Op
Slide 11: COVID-19 impact on revenue
GROUP FINANCIAL RESULTS COVID-19 – impact on revenue % Change in revenue compared to corresponding period in prior year H1 H2 Entyce & Snackworks (excl. Ciro) 6% (8%) Ciro (40%) 22% I&J 5% 20% Personal Care (7%) 1% Footwear and Apparel (12%) 29% Food and beverage consumption normalised from the hi
Slide 12: COVID-19 impact on costs and provisions
GROUP FINANCIAL RESULTS COVID-19 – impact on costs and provisions F21 F20 Rm Rm Cost of sales 18 39 Selling and administrative expenses 6 19 Total 24 58 F20 includes special employee allowances and transport costs paid during the initial lockdown No material disruption to operations in F21 No
Slide 13: Change in operating profit F21 vs F20
GROUP FINANCIAL RESULTS Change in operating profit F21 vs F20 200 147 150 104 112 100 75 67 50 R million 25 20 28 13 12 17 16 4 - -50 -39 -37 -43 -100 -97 -113 -150 Entyce Beverages Snackworks I&J Personal Care Footwear & apparel AVI Group H1 H2 FY Demand / volumes in H2 F21 less impacted by COVID
Slide 14: Group operating profit – three year view
GROUP FINANCIAL RESULTS Group operating profit – three year view 3 000 2 523 2 500 2 409 2 335 2 000 R million 1 456 1 457 1 420 1 500 1 067 990 1 000 877 500 - H1 H2 FY F19 F20 F21 Fashion brands and Ciro still below F19 profit levels Constrained economic environment exacerbated by COVID-19
Slide 15: Business unit financial results
GROUP FINANCIAL RESULTS Business unit financial results Segmental Segmental Operating Revenue Operating Profit Margin F21 F20 F21 F20 F21 F20 Δ% Δ% Rm Rm Rm Rm % % Food & Beverage brands 10 650,3 10 542,0 1,0 2 029,0 1 994,6 1,7 19,1 18,9 Entyce Beverages 3 777,1 3 849,0 (1,9) 872,8 846,6 3,1 23,1 2
Slide 16: Movement in group revenue
GROUP FINANCIAL RESULTS Movement in group revenue 14 000 13 500 13 000 12 500 R million 12 000 11 500 11 000 10 500 10 000 13,210 622 -563 13,269 F20 Price Volume F21 Price increases across the Group, supported by tighter management of discounts Export sales in I&J benefitted from impact of weak
Slide 17: Gross profit margin history
GROUP FINANCIAL RESULTS Gross profit margin history 40,0% 30,0% Gross profit 20,0% 10,0% 0,0% 39.8% -0.4% -0.4% 39.0% F20 Food and beverage brands Fashion Brands F21 Cost pressures not fully recovered by price increases Weaker Rand and higher raw material costs Lower fixed cost recovery due to
Slide 18: Operating profit 3,2% up
GROUP FINANCIAL RESULTS Operating profit 3,2% up 2 450 2 400 2 350 R million 2 300 2 250 2 200 2 150 2,335 26 (96) 104 20 28 (8) 2,409 F20 Entyce Snackworks I&J Personal Footwear and Other F21 Care Apparel Entyce: Margins well maintained and good cost control Snackworks: Non-recurrence of the pr
Slide 19: Cash flow, gearing and return on capital
GROUP FINANCIAL RESULTS Cash flow, gearing and return on capital F21 F20 Rm Rm % Cash generated by operations 3 021,0 3 220,3 (6,2) Cash / EBITDA % 101,8 109,9 (7,4) Working capital to revenue % 23,1 23,2 (0,5) Capital expenditure (315,7) (376,6) (16,2) Proceeds from disposal of Simplot - 631,8 Spe
Slide 20: Dividends
GROUP FINANCIAL RESULTS Dividends F21 F20 Rm Rm % Interim dividend – cps 160,0 160,0 - Final dividend - cps 275,0 250,0 10,0 Ordinary dividend – cps 435,0 410,0 6,1 Dividend yield - % * 6,1 5,8 Special dividend – cps 280,0 - Total dividend - cps 715,0 410,0 74,4 Total dividend yield - %* 10,1 5,8 O
Slide 21: Key restructuring projects
GROUP FINANCIAL RESULTS Key restructuring projects F21 Annualised Net Savings Net Savings Rm Rm Ciro 5,3 25 Abalone 5,8 10 Footwear and Apparel - 15 11,1 50 Ciro: match resources to lower volumes; simplify business Abalone: improve efficiency of farm; relocate processing to achieve single site
Slide 22: Key capital projects spend summary
GROUP FINANCIAL RESULTS Key capital projects spend summary F21 F22 Actual Planned Rm Rm Tea packaging line replacements and upgrades 6 7 Biscuit line upgrades 27 42 I&J vessel dry-docks and upgrades 91 75 Coffee and creamer line upgrades 2 81 I&J processing plant replacements and upgrades 23 57 Reta
Slide 23: Performance and Prospects
Performance Performance and prospects and Prospects
Slide 24: Entyce Beverages: tea income statement
Income statement F21 F20 % Rm Rm Revenue 3 777,1 3 849,0 (1,9) Operating profit 872,8 846,6 3,1 Operating profit margin % 23,1 22,0 5,1 Tea profit growth due to lower rooibos raw material prices and good cost control Rooibos volume growth due to lower selling prices Additional demand for blac
Slide 25: Entyce Beverages: coffee
Income statement F21 F20 % Rm Rm Revenue 3 777,1 3 849,0 (1,9) Operating profit 872,8 846,6 3,1 Operating profit margin % 23,1 22,0 5,1 Coffee profit in line with last year notwithstanding severe impact of COVID-19 on Ciro out-of-home coffee business Lower Ciro volumes to hospitality, leisure a
Slide 26: Entyce Beverages: creamer
Income statement F21 F20 % Rm Rm Revenue 3 777,1 3 849,0 (1,9) Operating profit 872,8 846,6 3,1 Operating profit margin % 23,1 22,0 5,1 Creamer profit decline from F20 record level Additional demand from COVID-19 lockdown in H2 F20 not repeated Selling prices implemented did not fully recover
Slide 27: Business unit operating profit – three year view
Business unit operating profit – three year view 1 000 900 873 838 847 800 700 R million 600 500 468 460 473 387 400 400 370 300 200 100 - H1 H2 FY F19 F20 F21 Profit growth vs F20 and F19 in constrained environment Price inflation and lower discounts offset cost and volume pressures Lower roo
Slide 28: Sales volume and selling prices
Sales volume and selling prices %Δ Comments F21 vs F20 Tea revenue decline (1,5) Volume (4,4) Lower black tea volumes due to non-repeat of additional demand in H2 F20 from COVID-19 lockdown and aggressive competitor pricing; partly offset by rooibos volume growth Average selling price 3,1 Black tea
Slide 29: Market shares – 12 months value
Market shares – 12 months value 60,0% 53,1% 50,2% 50,0% 43,3% 40,0% 38,3% 30,0% 28,4% 26,5% 19,2% 17,9% 20,0% 11,9% 12,3% 10,0% 0,0% Five Roses Freshpak Frisco Ellis Brown Trinco F20 F21 Short term market shares reflect targeted price / volume balance in a volatile market
Slide 30: Raw material costs
Raw material costs Cost impact of raw materials and commodities consumed in the period (F21 vs F20): 40 30 28 20 11 12 10 4 3 0 R million -10 -20 -30 -40 -50 -46 Robusta / chicory Glucose Arabica Casein Palm oil Tea
Slide 31: Snackworks
SnackwoOrks That’s Good Times! 2d» ; f,. . ANS ey Wilarts a) 4 GROWING GREAT BRANDS
Slide 32: Snackworks: biscuits income statement
Income statement F21 F20 % Rm Rm Revenue 4 267,8 4 365,1 (2,2) Operating profit 814,6 910,2 (10,5) Operating profit margin % 19,1 20,9 (8,5) Biscuit profit decline due to lower volumes and input cost inflation Record demand from COVID-19 lockdown in H2 F20 not repeated Annual price increase i
Slide 33: Snackworks: snacks income statement
Income statement F21 F20 % Rm Rm Revenue 4 267,8 4 365,1 (2,2) Operating profit 814,6 910,2 (10,5) Operating profit margin % 19,1 20,9 (8,5) Snacks profit decline due to lower volumes and input cost inflation Record demand from COVID-19 lockdown in H2 F20 not repeated Annual price increase in
Slide 34: Business unit operating profit – three year view
Business unit operating profit – three year view 1 000 910 900 815 800 723 700 600 R million 489 507 500 430 421 400 308 293 300 200 100 - H1 H2 FY F19 F20 F21 H1 volume growth from continuation of additional lockdown demand in H2 F20 H2 volume decline with record demand from COVID-19 lockdown i
Slide 35: Sales volume and selling prices
Sales volume and selling prices %Δ Comments F21 vs F20 Biscuits revenue decline (3,2) Volume (9,0) Non-repeat of additional demand in H2 F20 from COVID-19 lockdown Average selling price 6,4 Annual price increase and lower levels of discounting Snacks revenue growth 0,7 Volume (3,3) Non-repeat of add
Slide 36: Market shares – 12 months value
Market shares – 12 months value 45,0% 42,6% 40,4% 40,0% 35,0% 30,0% 25,0% 20,0% 18,0% 17,7% 14,1% 14,4% 15,0% 10,0% 5,0% 0,0% Bakers (Sweet) Bakers (Savoury) Willards F20 F21 Balanced price / volume in constrained environment
Slide 37: Raw material costs
Raw material costs Cost impact of raw materials and commodities consumed in the period (F21 vs F20): 45 41 40 35 32 30 25 R million 20 15 10 8 5 2 0 -1 -2 -5 Palm oil Sugar Flour Maize Potatoes Butter
Slide 38: I&J Performance and Prospects
+ SINCE 1910 - EU Performance and Prospects GROWING GREAT BRANDS
Slide 39: I&J income statement
Income statement F21 F20 % Rm Rm Revenue 2 605,4 2 327,9 11,9 Operating profit 341,6 237,8 43,7 Operating profit margin % 13,1 10,2 28,4 Revenue growth of 11,9% from higher hake volumes and weaker Rand Improved fishing performance; COVID-19 disruption and vessel outages experienced in H2 F20 no
Slide 40: I&J operating profit movement
Operating profit 450 400 350 300 R million 250 200 150 100 50 - 238 64 70 44 (66) (3) (5) 342 F20 Volume Forex Fuel Costs/other Abalone Simplot F21 royalties Export hake volumes 13,4% up due to improved H2 fishing Benefit of weaker Rand on export revenue Lower fuel costs includes movement in u
Slide 41: I&J profit history
Profit history 479 480 453 450 62 73 52 389 380 67 98 345 72 71 350 347 280 69 309 255 255 300 R million 24 19 0 248 53 180 236 178 80 -20 -2 F15 F16 F17 F18 F19 F20 F21 Fishing Abalone Simplot F21 fishing performance better than F19, after weak second semester in F20 Abalone heavily impacted by
Slide 42: Fishing performance
Fishing performance 12,0 11,0 10,2 10,1 9,9 10,0 9,5 9,4 9,0 8,5 8,3 8,1 Hake tons per sea day 8,0 6,0 4,0 2,0 0,0 F12 F13 F14 F15 F16 F17 F18 F19 F20 F21 I&J catch rate Improvement due to higher wet vessel catch rates and increased freezer vessel availability
Slide 43: Sales volume and selling prices (Hake)
Sales volume and selling prices (Hake) %Δ Comments F21 vs F20 I&J Domestic revenue decrease (2,8) Volume (5,9) Normalisation of demand; aggressive competitor discounting; increased allocation to export Average selling prices 3,3 Price increases taken to mitigate cost pressure I&J Export revenue grow
Slide 44: Indigo Brands: Performance and Prospects
indigo brands GROWING GREAT BRANDS
Slide 45: Personal Care income statement
Income statement F21 F20 % Rm Rm Revenue 1 152,9 1 192,7 (3,3) Operating profit 170,4 150,2 13,5 Operating profit margin % 14,8 12,6 17,4 Volume decrease Normalisation of shopping behaviour during H1 Change in consumption because of COVID-19, particularly colour cosmetics Partly offset by t
Slide 46: Business unit operating profit – three year view
Business unit operating profit – three year view 250 237 200 170 150 150 R million 128 110 109 100 94 57 61 50 - H1 H2 FY F19 F20 F21 Pressure from constrained and competitive environment, in addition to impact of COVID-19 on consumer consumption
Slide 47: Sales volume and selling prices
Sales volume and selling prices %Δ Comments F21 vs F20 Personal Care revenue decrease (3,8) Volume (10,6) COVID-19 impact: soft H1 F21 with normalisation of shopping behaviour; lower consumption of colour cosmetics; partly offset by non-repeat of temporary closure of beauty channel in H2 F20 Average
Slide 48: Market share
Market share 33,8% 34,0% 32,0% 30,9% 30,7% 31.0% 30,0% 28,0% 26,0% 24,0% 22,0% 20,0% Body sprays - Female * Body sprays - Male * * Excludes Coty F20 F21 Aggressive discounting in female body sprays Good performance from Yardley and Lentheric male brands
Slide 49: Footwear and Apparel
FOOTWEAR AND APPAREL Performance and Prospects
Slide 50: Footwear and Apparel income statement
FOOTWEAR AND APPAREL Income statement F21 F20 % Rm Rm Revenue 1 466,0 1 475,0 (0,6) Operating profit 230,4 202,2 13,9 Operating profit margin % 15,7 13,7 14,7 Footwear and clothing volume declines Underperforming stores closed – 15 Green Cross, 3 Spitz, 1 Kurt Geiger Soft H1 demand with consu
Slide 51: Business unit operating profit – three year view
FOOTWEAR AND APPAREL Business unit operating profit – three year view 350 329 300 287 247 250 230 209 202 200 R million 150 100 50 42 22 - -50 -45 -100 H1 H2 FY F19 F20 F21 H1 F21 demand soft with shopper footfall recovering H2 F21 improvement due to non-repeat of temporary store closures Lowe
Slide 52: Footwear and Apparel business unit financial results
FOOTWEAR AND APPAREL Business unit financial results Segmental Segmental Operating Revenue Operating Profit Margin F21 F20 Δ F21 F20 Δ F21 F20 Rm Rm % Rm Rm % % % Footwear & Apparel 1 466,0 1 475,0 (0,6) 230,4 202,2 13,9 15,7 13,7 Spitz and Kurt Geiger 1 256,9 1 242,3 1,2 241,5 228,1 5,9 19,2 18,4 G
Slide 53: Sales volume and selling prices
FOOTWEAR AND APPAREL Sales volume and selling prices %Δ Comments F21 vs F20 Spitz & Kurt Geiger Footwear revenue growth 1,1 Volume H1 decline with gradual recovery of shopper (4,7) footfall compounded by constrained consumer environment; partially offset by recovery in H2 with store closures not rep
Slide 54: AVI International: Performance and Prospects
AN | International Performance and Prospects GROWING GREAT BRANDS
Slide 55: AVI International operating profit history
AVI INTERNATIONAL Operating profit history 300 271 253 250 213 194 197 200 189 R million 159 150 132 129 103 100 92 50 - F11 F12 F13 F14 F15 F16 F17 F18 F19 F20 F21 Profit growth in key distributor markets Sound demand with volume growth in most categories Good cost control Price increase in
Slide 56: Entyce, Snackworks and Indigo – Non RSA sales
AVI INTERNATIONAL Entyce, Snackworks and Indigo – Non RSA sales F21 F20 % Rm Rm International Revenue 1 185,4 1 133,9 4,5 % of Grocery and Personal Care brands 12,9 12,1 6,9 International Operating Profit 271,1 252,9 7,2 % of Grocery and Personal Care brands 14,6 13,3 10,0 % % International Operati
Slide 57: Prospects for F22
AVI GROUP Prospects for F22 Protect Entyce and Snackworks profits in a tough environment Target volume growth off normalised base Limited impact on operations from civil unrest in July 2021 Majority of lost sales from civil unrest should be recovered in first quarter Price increases in all
Slide 58: Prospects for F22 (continued)
AVI GROUP Prospects for F22 (continued) Target improvement in Indigo profit Pursue volume growth off F21 base Product launches and packaging refresh focused on core brands Prospect of improved category pricing dynamics Focus on price increases and discount management to protect margins O
Slide 59: Prospects for F22 (continued)
AVI GROUP Prospects for F22 (continued) I&J result dependent on fishing performance Focus on vessel availability with concomitant increase in capex and maintenance costs Exchange rates support sound profitability Export and local demand and prices stable Ongoing focus on cost management
Slide 60: Prospects for F22 (continued)
AVI GROUP Prospects for F22 (continued) Footwear and Apparel Demand pressure from constrained environment Effective marketing to support seasonal opportunity in December Complete right sizing of Green Cross store footprint Target additional rent reductions on renewals Savings from F21 re
Slide 61: Investor proposition
AVI GROUP Investor proposition Continue adapting to changing macro environment Ongoing review and simplification of business model Group initiatives keep focus on margin management, procurement, cost savings and efficiency Manage our unique brand portfolio to its long term potential Target
Slide 62: Questions
AM! att eh GF: LODE a LENTHER ‘ASCULIN Ves We a
Slide 63: Revenue 0,5% up
INFORMATION SLIDES Revenue 0,5% up 13 350 13 200 R million 13 050 12 900 13,210 (72) (97) 277 (40) (9) 13,269 F20 Entyce Snackworks I&J Personal Footwear and F21 Care Apparel Entyce: Lower volumes due to non-repeat of additional demand for black tea in H2 F20 from COVID-19; lower rooibos prices su
Slide 64: Gross profit 1,6% down
INFORMATION SLIDES Gross profit 1,6% down 5 300 5 250 5 200 R million 5 150 5 100 5 050 5 000 4 950 5,251 (36) (133) 132 (14) (32) 5,168 F20 Entyce Snackworks I&J Personal Footwear and F21 Care Apparel Entyce: Lower volumes Snackworks: Lower volumes and margin pressure with higher commodity inpu
Slide 65: Marketing expenditure
INFORMATION SLIDES Marketing expenditure 18,0% 16,2% 16,0% 14,0% 12,3% 12,0% 10,0% 8,0% 8,0% 8,0% 7,1% 6,6% 6,2% 6,0% 6,2% 6,2% 6,4% 6,6% 6,0% 5,0% 4,5% 4,0% 2,3% 2,0% 1,4% 0,0% * Excludes Coty F20 F21 Total expenditure for F21 of R677,9 million compared to R752,7 million in F20 R15 million laun
Slide 66: Capital expenditure and depreciation
INFORMATION SLIDES Capital expenditure and depreciation (excluding depreciation on right-of-use assets) 1 000 900 882 800 849 700 600 R million 500 546 473 400 420 408 411 394 388 377 388 300 347 308 316 200 100 - F15 F16 F17 F18 F19 F20 F21 Capital expenditure Depreciation charge Continued invest
Slide 67: Cash flows
INFORMATION SLIDES Cash flows 3 500 3 000 2 500 2 000 R million 1 500 1 000 500 - 3,011 22 (640) (316) (174) (99) 478 (1,356) (926) Cash from Working Taxation Capital Lease Net interest Increase in Ordinary Special operations capital and expenditure liabilities paid paid net debt dividends dividend
Slide 68: Foreign exchange hedges
INFORMATION SLIDES Foreign exchange hedges September 2021 to January 2022 to December 2021 June 2022 % Cover % Cover USD imports 79% 54% EUR imports 67% 67% EUR exports 53% 38% Consistent hedging philosophy provides stability to manage gross profit margins
Slide 69: I&J period end fair value adjustments
INFORMATION SLIDES I&J period end fair value adjustments F21 F20 Actual Actual Rm Rm Rm Fuel hedge unrealised (gain) / loss (15,6) 9,2 (24,8) Opening mark-to-market (liability) / asset (10,6) (1,4) Closing mark-to-market asset / (liability) 5,0 (10,6) Abalone – (increase) / decrease in unrealised
Slide 70: I&J fishing quota
INFORMATION SLIDES I&J fishing quota CY15 CY16 CY17 CY18 CY19 CY20 CY21 Quota (tons) South African Total Allowable Catch (TAC) 147 500 147 500 140 216 133 120 146 430 146 430 139 119 % change in TAC (5,0) - (5,0) (5,0) 10,0 0,0 (5,0) I&J 41 223 41 245 37 901 36 013 39 517 39 517 37 543 % 27,9 28,0 2
Slide 71: Trading space and trading density: Spitz
INFORMATION SLIDES Trading space and trading density Spitz F21 F20 Number of stores 72 74 Turnover (Rm) 1 079,4 1 065,1 Average m2 19 034 19 489 Trading Density (R /m2) 56 711 54 650 Closing m2 18 956 19 384 Like-for-like metrics* F21 F20 Number of stores 70 70 Turnover (Rm) 1 061,3 1 032,4 Average
Slide 72: Trading density – Spitz stores
INFORMATION SLIDES Trading density – Spitz stores 80 000 25 000 70 000 20 000 60 000 50 000 15 000 R/m2 m2 40 000 10 000 30 000 20 000 5 000 10 000 0 0 F16 F17 F18 F19 F20 F21 Trading density (R/m2) Average trading space (m2) Closed 3 Spitz stores and opened 1 new store
Slide 73: Trading space and trading density: Kurt Geiger
INFORMATION SLIDES Trading space and trading density Kurt Geiger F21 F20 Number of stores 34 34 Turnover (Rm) 174,3 175,1 Average m2 4 219 4 259 Trading Density (R /m2) 41 321 41 116 Closing m2 4 287 4 289 Like-for-like metrics* F21 F20 Number of stores 31 31 Turnover (Rm) 167,6 166,4 Average and cl
Slide 74: Trading density – Kurt Geiger stores
INFORMATION SLIDES Trading density – Kurt Geiger stores 60 000 6 000 50 000 5 000 40 000 4 000 R/m2 m2 30 000 3 000 20 000 2 000 10 000 1 000 0 0 F16 F17 F18 F19 F20 F21 Trading density (R/m2) Average trading space (m2) Closed one Kurt Geiger store and opened 1 new store
Slide 75: Trading space and trading density: Green Cross
INFORMATION SLIDES Trading space and trading density Green Cross F21 F20 Number of stores # 22 37 Turnover (Rm) 103,5 140,9 Average m2 3 450 4 825 Trading Density (R /m2) 30 000 29 202 Closing m2 2 745 4 471 Like-for-like metrics* F21 F20 Number of stores 22 22 Turnover (Rm) 88,4 96,1 Average and cl
Slide 76: Closing number of stores and trading space
INFORMATION SLIDES Closing number of stores and trading space at the end of each period Period Spitz Kurt Geiger Green Cross End # of stores Closing m² # of stores Closing m² # of stores Closing m² December 2009 56 15,220 3 346 June 2010 56 15,012 3 346 December 2010 57 15,124 7 1,047 June 2011 57 1
Slide 77: Growing great brands
4 LENTHER iG apa Xt GROWING GREAT BRANDS