Kingfisher Plc · LSE:KGF
Kingfisher — Shareholder Meeting (June 2010)
29 slides from Kingfisher's shareholder meeting presentation, Jun 17, 2010
Slide 1: Kingfisher AGM
KINGPSHER p Kingfisher AGM 17 June 2010
Slide 2: Daniel Bernard, Chairman
Daniel Bernard Chairman
Slide 3: Agenda
Agenda Introduction Daniel Bernard Business review Ian Cheshire Questions and answers Resolutions
Slide 4: Daniel Bernard, Chairman
Daniel Bernard Chairman
Slide 5: Introduction: excellent progress in 2009/10
Introduction: excellent progress in 2009/10 • Strong growth in profit and cash returns • „Delivering Value‟ programme on track • Work also underway to drive profitable future growth – Broadening the business – Building Group capability, especially common sourcing • Confident in our prospects – Divid
Slide 6: Financial highlights
Financial highlights • Sales up 4.8% to £10.5bn • Adjusted pre-tax profit £547m, up 48.6% • Free cashflow £761m (2008/09: £387m) • Financial net debt down from £1bn to £250m, down 75% • Final dividend increased 5% to 3.575p, first increase for five years
Slide 7: Kingfisher share price +50%
Kingfisher share price +50% Kingfisher share price performance vs. FTSE 100 250 Share price (p), rebased to Kingfisher 225 +52.6% 200 175 +25.0% 150 125 100 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Kingfisher FTSE 100 Source: Datastream. Kingfisher s
Slide 8: 2010/11 – First Quarter highlights
2010/11 – First Quarter highlights • Sales flat, despite cool weather across Europe • Retail profit up 12% to £146m • Cautious on the economic outlook, self-help in place
Slide 9: Ian Cheshire, Group Chief Executive
Ian Cheshire Group Chief Executive Review of 2009/10
Slide 10: 2009/10 Results – a summary
2009/10 Results – a summary Group Sales Group Retail Profit £10.5bn +4.8% £664m +32.1% 19% 17% 41% 48% 42% 33% France UK & Ireland Other International
Slide 11: Delivering value – on track
Delivering value – on track 1. Driving up B&Q UK & Ireland’s profit • Profit up 80% • Retail margin now 4.9%,up 210 basis points 2. Exploiting our UK Trade opportunity • Screwfix offer broadened • B&Q in-store trade format developed (TradePoint) 3. Expanding our total French business • Both business
Slide 12: Delivering value – on track
Delivering value – on track 4. Rolling out in Eastern Europe • 20% new space 5. Turning around B&Q China • “Fix it” phase well executed, losses halved • New range work underway, but will take time 6. Growing Group sourcing • Shipments up 14% 7. Reducing working capital • Total working capital reduce
Slide 13: Kingfisher UK
UK & Ireland Kingfisher UK Sales £4.4 billion, 477 stores, 13% market share – 33,000 products in large and medium stores – Mostly retail consumer focused – 15,000 products via multi channels – Mostly trade focused As at 30 January 2010
Slide 14: Driving innovation at B&Q
UK & Ireland Driving innovation at B&Q
Slide 15: Kingfisher France
France Kingfisher France Sales £4.2 billion, 201 stores, 21% market share – 50,000 products in large stores (15,000 sqm) – Mostly retail consumer focused – 13,000 products in smaller stores (5,000 sqm) – Mostly trade focused As at 30 January 2010
Slide 16: Driving innovation at Castorama
France Driving innovation at Castorama
Slide 17: Eastern Europe – large and profitable markets
Other International Eastern Europe – large and profitable markets Population Market Stores Sales (m) (£bn) (£m) Poland 38 7 56 £1,000 Turkey 73 5 26 £265 Russia 142 12 12 £160 As at 30 January 2010
Slide 18: Eastern Europe – sales up 11%, retail profits up 12%, 20% new space
Other International Eastern Europe – sales up 11%*, retail profits up 12%*, 20% new space 2009/10 2010/11 • 5 new stores • 6 new stores Poland • Profits +11% • Central DC for direct • New CEO sourcing (H2) • 5 new stores Turkey • 5 new stores • Profits +39% • 5 new stores • 4 new stores Russia • Pro
Slide 19: China – excellent progress with turnaround
Other International China – excellent progress with turnaround • Store optimisation nearly complete – 63 stores down to 43 – 20 leases successfully exited • Cost and margin plans progressing well – 30% reduction in central costs • Rationalised offer – 12 stores in new format
Slide 20: Group sourcing
Other International Group sourcing 2009/10 • Shipped volumes increased by 14% 2010/11 • Increase shipped volumes by 26% to $1bn
Slide 21: Staff training
Staff training B&Q UK • 15,500 B&Q staff achieved NVQ and City & Guilds qualifications • 4,000 staff graduated from Showroom Academy Castorama France • 9,000 staff through customer service courses B&Q China • 2,000 staff through customer training courses
Slide 22: Further progress with 'Green' initiatives
Further progress with ‘Green’ initiatives For our customers • £1bn sales of eco products • First „eco shops‟ launched in B&Q (New Malden and Sutton) –1,700 eco advisers by Sept 2010 • Working on Group-wide range of energy efficient products
Slide 23: Good progress with green initiatives
Good progress with green initiatives Within our business CO2 from store energy 9% Store waste 5% Timber from well-managed sources 77% (2008/09: 72%)
Slide 24: Summary – excellent progress in 2009/10
Summary – excellent progress in 2009/10 • Robust growth in profit and cash returns • „Delivering Value‟ programme on track • Work also underway to drive profitable future growth – Broadening the business – Building Group capability, especially common sourcing – Accelerating capital investment • Divi
Slide 25: Daniel Bernard, Chairman
Daniel Bernard Chairman
Slide 26: Questions and answers
Questions and answers
Slide 27: Resolutions
Resolutions
Slide 28: Casting your vote
Casting your vote Insert the smartcard up to the red line When invited to vote: Press button “1” to vote “for” Press button “2” to vote “against” Press button “3” to withhold your vote If you make a mistake or change your mind, simply enter your new choice – this will overwrite your previous choice
Slide 29: Annual General Meeting
KINGPSHER p Annual General Meeting 2010