Beacon Lighting Group Ltd · ASX:BLX
Beacon Lighting — H1 FY2015 Earnings Presentation
21 slides from Beacon Lighting's earnings presentation, Feb 19, 2015
Slide 1: Results Presentation H1 FY2015
For personal use only Beacon Lighting Group Limited RESULTS PRESENTATION H I F Y 20 15
Slide 2: Disclaimer
DISCLAIMER For personal use only The purpose of this presentation is to provide background material in relation to the H1 FY2015 results of Beacon Lighting Group Limited. All information provided in this presentation is provided for information purposes only. Whilst care and diligence has been taken
Slide 3: Contents
CONTENTS For personal use only 1. RESULTS OVERVIEW 2. TRADING PERFORMANCE 3. CASH FLOW, BALANCE SHEET, DIVIDENDS 4. GROWTH STRATEGY UPDATE 5. H2 FY2015 OUTLOOK 6. QUESTIONS 3
Slide 4: Results Overview
For personal use only RESULTS OVERVIEW 4
Slide 5: Highlights
HIGHLIGHTS For personal use only • Record sales and profit results. • Sales increased by $16.3m, 21.9% ahead of H1 FY14. • Company store comparative sales increase by 11.7%. • Opened four new stores, closed one store and purchased one franchise store. • Designed and developed 226 exclusive new produ
Slide 6: Year-on-Year Result
YEAR-ON-YEAR RESULT For personal use only $ Inc / Dec % Inc / Dec $ ‘000 H1 FY14 H1 FY15 on H1 FY14 on H1 FY14 Sales 74,497 90,829 16,332 21.9% Gross Profit 49,145 58,247 9,102 18.5% Gross Profit Margin 66.0% 64.1% Other Income 3,265 2,034 (1,231) (37.7%) % of Sales 4.4% 2.2% Operating Expenses (1)
Slide 7: Trading Performance
For personal use only TRADING PERFORMANCE 7
Slide 8: Sales
SALES For personal use only SALES: +21.9% to $90.8m • Record half year sales for H1 FY15. • Sales of $90.8m, up 21.9% on H1 FY14. • Outstanding company stores comparative sales growth of 11.7%. • Online sales grew by 29.9%. • Sales to trade customers strengthened by 22.0%. Total Sales $m Comparative
Slide 9: Gross Margin
GROSS MARGIN For personal use only Gross Margin $: +18.5% to $58.2m • Gross Margin $ increased by $9.1m or 18.5% on H1 FY14. • Gross Margin $ of $58.2m. • Solid Gross Margin % down on H1 FY14 but in line with H1 FY13 and expectations. Gross Profit $ Growth Gross Profit Margins % 18.5% 66.0% 15.0% 64
Slide 10: Other Income
OTHER INCOME For personal use only Other Income: (37.7%) to $2.0m • Core other income (royalties & marketing contribution) has fallen as franchise stores have been purchased. • Other income decreased as a result of customs import duty refunds received in H1 FY14. Other Income $m 3.2 2.3 2.0 H1 FY13
Slide 11: Operating Expenses
OPERATING EXPENSES For personal use only Operating Expenses: Down 5.2% of sales to $45.8m • Strong sales growth and moderate expense growth. • Significant productivity gains realised in S&D. • Productivity gains in Marketing and G&A. $ ‘000 H1 FY14 % to Sales H1 FY15 % to Sales Opex % of Sales Sales
Slide 12: Earnings
EARNINGS For personal use only EBITDA: +31.4% to $14.5m EBIT: +32.9% to $13.4m NPAT: +35.3% to $9.1m EBITDA $m EBIT $m 14.5 13.4 11.0 10.1 8.9 7.9 H1 FY13 H1 FY14 H1 FY15 H1 FY13 H1 FY14 H1 FY15 NPAT $m EBITDA Margin 9.1 15.9% 6.7 14.8% 5.1 13.4% H1 FY13 H1 FY14 H1 FY15 H1 FY13 H1 FY14 H1 FY15 12
Slide 13: Cash Flow, Balance Sheet, Dividends
For personal use only CASH FLOW, BALANCE SHEET, DIVIDENDS 13
Slide 14: Cash Flow
CASH FLOW For personal use only Capital Expenditure $2.5m $ ‘000 H1 FY14 H1 FY15 Cash Flow from Operations • New Stores Capex $1.3m Receipts from customers 83,110 101,629 Payments to suppliers & employees (67,838) (92,292) • Refit Capex $0.6m Other (223) (590) • Motor Vehicles $0.2m Income Tax Paid
Slide 15: Balance Sheet
BALANCE SHEET For personal use only $ ‘000 DEC 2013 DEC 2014 Debtors Cash 14,774 10,547 • Franchise $3.5m Receivables 14,819 8,079 • Commercial $3.4m Inventories 34,624 47,612 Other 275 681 Payables Total Current Assets 64,493 66,919 • Trade Finance $20.1m PPE 15,291 18,083 • In Transit Creditors $7
Slide 16: Dividends
DIVIDENDS For personal use only • Paid 1.4 cents per share for H2 FY14 • 1.8 cents per share for H1 FY15 • Record date 5th March 2015 • Payment date 26th March 2015 • Annual target payout ratio 50% to 60% of NPAT 16
Slide 17: Growth Strategy Update
For personal use only GROWTH STRATEGY UPDATE 17
Slide 18: Growth Strategy Update
GROWTH STRATEGY UPDATE For personal use only GROWTH STRATEGY TARGET DETAIL UPDATE New store rollout Target 6 new stores per year • Opened 4 new stores – Mittagong (NSW), Coburg (VIC), Camberwell (VIC), Port Macquarie (NSW). • Expect to open Churchill (SA), Pakenham (VIC) and Ipswich (QLD) in H2 FY15
Slide 19: Growth Strategy Update
GROWTH STRATEGY UPDATE For personal use only GROWTH STRATEGY DETAIL UPDATE Technology in Energy efficiency is driving • Introduced many new technically advanced products to the range, including new filament type Lighting rapid development of LED LED globes, lower cost LED downlights, LED in ceiling
Slide 20: H2 FY15 Outlook
For personal use only H2 FY15 OUTLOOK 20
Slide 21: FY2015 Outlook
FY2015 OUTLOOK For personal use only Beacon Lighting • Store roll out target of 6 stores for the year is on track, with Mittagong (NSW), Camberwell (VIC), Coburg (VIC), Port Macquarie (NSW) already open. Preparing for openings at Pakenham (VIC), Churchill (SA) and Ipswich (QLD). Hawthorn (VIC) close
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